Common use of DEMANDS AND NOTICE Clause in Contracts

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, as may be defined in any Contract, if any Enron Party (the “Defaulting Enron Party”) fails or refuses to pay any Obligations, and any Counterparty Party (the “Non-Defaulting Counterparty Party”) has elected to exercise its rights under this Guaranty, such Non-Defaulting Counterparty Party shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount the Defaulting Enron Party has failed to pay and an explanation of why such payment is due, with a specific statement that such Non-Defaulting Counterparty Party is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within two (2) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until the Defaulting Enron Party or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. As used herein, the term “Business Day” shall mean a day on which commercial banks or financial institutions are open for business in Houston, Texas and New York, New York. Guarantor shall not be liable for any Payment Demands in excess of the Guarantee Cap. In the event Guarantor receives approximately simultaneous Payment Demands from one or more Counterparty Parties with respect to Obligations owed under more than one Contract in excess of the Guarantee Cap, Guarantor’s total payment up to but not exceeding the Guarantee Cap, shall be allocated among the Contracts in accordance with each Contract’s percentage of the total amount demanded by both. In all other instances, Guarantor’s payments hereunder, up to and including, but not in excess of the Guarantee Cap, will be made in the order in which the associated Payment Demands were received.

DEMANDS AND NOTICE. Upon (a) The Guaranteed Party shall have the right to enforce this Guarantee against the Guarantor upon the occurrence and during the continuance of an Event of Default or Termination Event, as may be defined in any Contract, if any Enron Party (the “Defaulting Enron Party”) fails or refuses failure by Obligor to pay any ObligationsObligations as and when due. The right of the Guaranteed Party to enforce this Guarantee shall be in addition to any other right to enforce the Agreement by actions taken against Obligor, any other guarantor or party, or by resort to any security held by the Guaranteed Party. In order to make a claim under this Guarantee, the Guaranteed Party must notify the Guarantor in writing of its demand that payment be made by the Guarantor (a "Payment Demand"), and any Counterparty the Guarantor shall, subject to the terms of this Guarantee, pay to the Guaranteed Party in the manner required by the Agreement the amount set forth in the Payment Demand notice within three (3) Business Days after the “Non-Defaulting Counterparty Party”date of receipt of such Payment Demand notice by the Guarantor. The notice provisions set forth in this Section 4(a) has elected to exercise its rights shall not release or diminish the accrual of late payment interest owed under this Guaranty, such Non-Defaulting Counterparty Party shall make a demand upon Guarantor (hereinafter referred to the Agreement as a “Payment Demand”)result of nonpayment by Obligor thereunder. (b) A Payment Demand shall be identify the amount and the basis of the demand in writing reasonable detail, and shall reasonably and briefly specify in what manner and what amount the Defaulting Enron Party that Obligor has failed to pay the Obligation that is the subject of the Payment Demand in full when and an explanation as due in accordance with the terms of why such payment is duethe Agreement. Subject to the terms hereof, with a specific statement that such Non-Defaulting Counterparty Party is calling upon Payment Demand conforming to the foregoing requirements shall be sufficient notice to the Guarantor to pay under this GuarantyGuarantee. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and Notices under this Guarantee shall be deemed sufficient received if sent to the address specified below: (i) on the second Business Day after receipt by Guarantor, if served by express delivery (such as FedEx or DHL), (ii) on the second Business Day after transmission, if served by facsimile transmission (provided that sender has machine confirmation that facsimile was transmitted to the correct fax number listed below), and (iii) solely in the case where notice to address specified below or a notice address subsequently provided in writing by the Guarantor that it must pay is within the Obligations within two United States, three (23) Business Days after mailing, if sent by certified, first-class mail, return receipt requested. To Guarantor: FPL Group Capital Inc 000 Xxxxxxxx Xxxxxxxxx X.X. Xxx 00000 Xxxx Xxxxx, Xxxxxxx 00000 Attention: Treasurer Fax: (000) 000-0000 To the Guaranteed Party: Public Service Electric and Gas Company 00 Xxxx Xxxxx XX Xxx 000-00 Xxxxxx, Xxx Xxxxxx 00000 Attention: Xxxxx Xxxxxxxx Fax: (000) 000-0000 To Obligor: Northeast Energy Associates, A Limited Partnership c/o FPL Energy, LLC 000 Xxxxxxxx Xxxx. X.X. Xxx 00000 Xxxx Xxxxx, XX 00000 Attention: Business Manager Fax: (000) 000-0000 Any party may change its receipt address to which notice is given hereunder by providing notice of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until the Defaulting Enron Party or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. As used herein, the term “Business Day” shall mean a day on which commercial banks or financial institutions are open for business in Houston, Texas and New York, New York. Guarantor shall not be liable for any Payment Demands in excess of the Guarantee Cap. In the event Guarantor receives approximately simultaneous Payment Demands from one or more Counterparty Parties with respect to Obligations owed under more than one Contract in excess of the Guarantee Cap, Guarantor’s total payment up to but not exceeding the Guarantee Cap, shall be allocated among the Contracts same in accordance with each Contract’s percentage of the total amount demanded by boththis Section 4. In all other instances, Guarantor’s payments hereunder, up to and including, but not in excess of the Guarantee Cap, will be made in the order in which the associated Payment Demands were received5.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination EventDefault, as may be defined in any Contract, if any Enron Party (the “Defaulting Enron Party”) ENA fails or refuses to pay any Obligations, Obligations and any Counterparty Party (the “Non-Defaulting Counterparty Party”) has elected to exercise its rights under this Guaranty, such Non-Defaulting Counterparty Party shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount the Defaulting Enron Party ENA has failed to pay and an explanation of why such payment is due, with a specific statement that such Non-Defaulting Counterparty Party is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within two five (25) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until the Defaulting Enron Party ENA or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. As used herein, the term “Business Day” shall mean a day on which commercial banks or financial institutions are open for business in Houston, Texas and New York, New York. Guarantor shall not be liable for any Payment Demands in excess of the Guarantee Cap. In the event Guarantor receives approximately simultaneous Payment Demands from one or more Counterparty Parties with respect to Obligations owed under more than one Contract in excess of the Guarantee Cap, Guarantor’s total payment up to but not exceeding the Guarantee Cap, U.S.$___________ .$_10,000,000 shall be allocated among the Contracts in accordance with each Contract’s percentage of the total amount demanded by both. In all other instances, Guarantor’s payments hereunder, up to and including, but not in excess of the Guarantee Cap, will be made in the order in which the associated Payment Demands were received.

DEMANDS AND NOTICE. Upon (a) The Guaranteed Party shall have the right to enforce this Guarantee against the Guarantor upon the occurrence and during the continuance of an Event of Default or Termination Event, as may be defined in any Contract, if any Enron Party (the “Defaulting Enron Party”) fails or refuses failure by Obligor to pay any ObligationsObligations as and when due. The right of the Guaranteed Party to enforce this Guarantee shall be in addition to any other right to enforce the Base Contract by actions taken against Obligor, any other guarantor or party, or by resort to any security held by the Guaranteed Party. In order to make a claim under this Guarantee, the Guaranteed Party must notify the Guarantor in writing of its demand that payment be made by the Guarantor (a "Payment Demand"), and any Counterparty the Guarantor shall, subject to the terms of this Guarantee, pay to the Guaranteed Party in the manner required by the Base Contract the amount set forth in the Payment Demand notice within three (3) Business Days after the “Non-Defaulting Counterparty Party”date of receipt of such Payment Demand notice by the Guarantor. The notice provisions set forth in this Section 4(a) has elected to exercise its rights shall not release or diminish the accrual of late payment interest owed under this Guaranty, such Non-Defaulting Counterparty Party shall make a demand upon Guarantor (hereinafter referred to the Base Contract as a “Payment Demand”)result of nonpayment by Obligor thereunder. (b) A Payment Demand shall be identify the amount and the basis of the demand in writing reasonable detail, and shall reasonably and briefly specify in what manner and what amount the Defaulting Enron Party that Obligor has failed to pay the Obligation that is the subject of the Payment Demand in full when and an explanation as due in accordance with the terms of why such payment is duethe Base Contract. Subject to the terms hereof, with a specific statement that such Non-Defaulting Counterparty Party is calling upon Payment Demand conforming to the foregoing requirements shall be sufficient notice to the Guarantor to pay under this GuarantyGuarantee. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and Notices under this Guarantee shall be deemed sufficient received if sent to the address specified below: (i) on the second Business Day after receipt by Guarantor, if served by express delivery (such as FedEx or DHL), (ii) on the second Business Day after transmission, if served by facsimile transmission (provided that sender has machine confirmation that facsimile was transmitted to the correct fax number listed below), and (iii) solely in the case where notice to address specified below or a notice address subsequently provided in writing by the Guarantor that it must pay is within the Obligations within two United States, three (23) Business Days after mailing, if sent by certified, first-class mail, return receipt requested. To Guarantor: FPL Group Capital Inc 000 Xxxxxxxx Xxxxxxxxx X.X. Xxx 00000 Xxxx Xxxxx, Xxxxxxx 00000 Attention: Treasurer Fax: (000) 000-0000 To Obligor: FPL Energy Power Marketing, Inc. 000 Xxxxxxxx Xxxx. X.X. Xxx 00000 Xxxx Xxxxx, XX 00000 Attn: Credit Manager Fax: (000) 000-0000 To the Guaranteed Party: Northeast Energy Associates c/o FPL Energy, LLC 000 Xxxxxxxx Xxxx. X.X. Xxx 00000 Xxxx Xxxxx, XX 00000 Attention: Xxxxxx X. Xxxxxx, Business Manager Fax: (000) 000-0000 Any party may change its receipt address to which notice is given hereunder by providing notice of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until the Defaulting Enron Party or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. As used herein, the term “Business Day” shall mean a day on which commercial banks or financial institutions are open for business in Houston, Texas and New York, New York. Guarantor shall not be liable for any Payment Demands in excess of the Guarantee Cap. In the event Guarantor receives approximately simultaneous Payment Demands from one or more Counterparty Parties with respect to Obligations owed under more than one Contract in excess of the Guarantee Cap, Guarantor’s total payment up to but not exceeding the Guarantee Cap, shall be allocated among the Contracts same in accordance with each Contract’s percentage of the total amount demanded by boththis Section 4. In all other instances, Guarantor’s payments hereunder, up to and including, but not in excess of the Guarantee Cap, will be made in the order in which the associated Payment Demands were received5.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, as may be defined in any Contract, if any Enron Party (the “Defaulting Enron Party”) If Company fails or refuses to pay any Obligations, Counterparty shall notify Company in writing of the manner in which Company has failed to pay and any demand that payment be made by Company. If Company’s failure or refusal to pay continues for a period of three (3) days after the date of Counterparty’s notice to Company, and Counterparty Party (the “Non-Defaulting Counterparty Party”) has elected to exercise its rights under this Guaranty, such Non-Defaulting Counterparty Party shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing personally delivered or set by U.S. Mail or overnight delivery, postage prepaid, and shall reasonably and briefly specify in what manner and what amount the Defaulting Enron Party Company has failed to pay and an explanation of why such payment is due, with a specific statement that such Non-Defaulting Counterparty Party is calling upon Guarantor to pay under this GuarantyGuaranty Agreement. All such notices and communications shall be addressed to Guarantor at: [TO BE PROVIDED] With a copy to: [TO BE PROVIDED] A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within two (2) Business Days after its receipt of the Payment DemandObligations. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until the Defaulting Enron Party Company or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. As used hereinAll notices and communications to Counterparty under this Guaranty, until Guarantor is notified to the term “Business Day” shall mean a day on which commercial banks or financial institutions are open for business contrary in Houston, Texas and New York, New York. Guarantor shall not be liable for any Payment Demands in excess of the Guarantee Cap. In the event Guarantor receives approximately simultaneous Payment Demands from one or more Counterparty Parties with respect to Obligations owed under more than one Contract in excess of the Guarantee Cap, Guarantor’s total payment up to but not exceeding the Guarantee Capwriting, shall be allocated among the Contracts in accordance with each Contract’s percentage of the total amount demanded personally delivered or sent by both. In all other instancesU.S. Mail, Guarantor’s payments hereunderor overnight delivery, up postage prepaid, addressed to and including, but not in excess of the Guarantee Cap, will be made in the order in which the associated Payment Demands were received.Counterparty at: that: [TO BE PROVIDED]

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, as may be defined in any Contract, if If any Enron Party (the “Defaulting Enron Party”) fails or refuses to pay any Obligations, and any Counterparty Party (the “Non-Defaulting Counterparty Party”) has elected to exercise its rights under this Guaranty, such Non-Defaulting Counterparty Party shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount the Defaulting Enron Party has failed to pay and an explanation of why such payment is due, with a specific statement that such Non-Defaulting Counterparty Party is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within two five (25) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until the Defaulting Enron Party or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. As used herein, the term “Business Day” shall mean a day on which commercial banks or financial institutions are open for business in Houston, Texas and New York, New York. Guarantor shall not be liable for any Payment Demands in excess of the Guarantee Cap. In the event Guarantor receives approximately simultaneous Payment Demands from one or more Counterparty Parties with respect to Obligations owed under more than one Contract in excess of the Guarantee Cap, Guarantor’s total payment up to but not exceeding the Guarantee Cap, U.S.$100,000,000 shall be allocated among the Contracts in accordance with each Contract’s percentage of the total amount demanded by both. In all other instances, Guarantor’s payments hereunder, up to and including, but not in excess of the Guarantee Cap, will be made in the order in which the associated Payment Demands were received.

DEMANDS AND NOTICE. Upon (a) The Guaranteed Party shall have the right to enforce this Guarantee against the Guarantor upon the occurrence and during the continuance of an Event of Default or Termination Event, as may be defined in any Contract, if any Enron Party (the “Defaulting Enron Party”) fails or refuses failure by Obligor to pay any ObligationsObligations as and when due. The right of the Guaranteed Party to enforce this Guarantee shall be in addition to any other right to enforce the Base Contract by actions taken against Obligor, any other guarantor or party, or by resort to any security held by the Guaranteed Party. In order to make a claim under this Guarantee, the Guaranteed Party must notify the Guarantor in writing of its demand that payment be made by the Guarantor (a "Payment Demand"), and any Counterparty the Guarantor shall, subject to the terms of this Guarantee, pay to the Guaranteed Party in the manner required by the Base Contract the amount set forth in the Payment Demand notice within three (3) Business Days after the “Non-Defaulting Counterparty Party”date of receipt of such Payment Demand notice by the Guarantor. The notice provisions set forth in this Section 4(a) has elected to exercise its rights shall not release or diminish the accrual of late payment interest owed under this Guaranty, such Non-Defaulting Counterparty Party shall make a demand upon Guarantor (hereinafter referred to the Base Contract as a “Payment Demand”)result of nonpayment by Obligor thereunder. (b) A Payment Demand shall be identify the amount and the basis of the demand in writing reasonable detail, and shall reasonably and briefly specify in what manner and what amount the Defaulting Enron Party that Obligor has failed to pay the Obligation that is the subject of the Payment Demand in full when and an explanation as due in accordance with the terms of why such payment is duethe Base Contract. Subject to the terms hereof, with a specific statement that such Non-Defaulting Counterparty Party is calling upon Payment Demand conforming to the foregoing requirements shall be sufficient notice to the Guarantor to pay under this GuarantyGuarantee. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and Notices under this Guarantee shall be deemed sufficient received if sent to the address specified below: (i) on the second Business Day after receipt by Guarantor, if served by express delivery (such as FedEx or DHL), (ii) on the second Business Day after transmission, if served by facsimile transmission (provided that sender has machine confirmation that facsimile was transmitted to the correct fax number listed below), and (iii) solely in the case where notice to address specified below or a notice address subsequently provided in writing by the Guarantor that it must pay is within the Obligations within two United States, three (23) Business Days after its mailing, if sent by certified, first-class mail, return receipt of the Payment Demandrequested. A single written Payment Demand shall be effective as to any specific default during the continuance of such defaultTo Guarantor: FPL Group Capital, until the Defaulting Enron Party or Guarantor has cured such defaultInc. 000 Xxxxxxxx Xxxxxxxxx Xxxx Xxxxx, and additional written demands concerning such default shall not be required until such default is cured. As used hereinXxxxxxx 00000 Attention: Treasurer Fax: (000) 000-0000 To Obligor: FPL Energy Power Marketing, the term “Business Day” shall mean a day on which commercial banks or financial institutions are open for business in HoustonInc. 00000 XX Xxxxxxx Xxx Xxxxx Xxxx Xxxxx, Texas and New York, New York. Guarantor shall not be liable for any Payment Demands in excess of the Guarantee Cap. In the event Guarantor receives approximately simultaneous Payment Demands from one or more Counterparty Parties with respect to Obligations owed under more than one Contract in excess of the Guarantee Cap, Guarantor’s total payment up to but not exceeding the Guarantee Cap, shall be allocated among the Contracts in accordance with each Contract’s percentage of the total amount demanded by both. In all other instances, Guarantor’s payments hereunder, up to and including, but not in excess of the Guarantee Cap, will be made in the order in which the associated Payment Demands were received.Xxxxxxx 00000 Attn: Credit Manager Fax: (000) 000-0000

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, as may be defined in any Contract, if any Enron Party (the “Defaulting Enron Party”) If Counterparty fails or refuses to pay any Obligations, and any Counterparty Party (of the “Non-Defaulting Counterparty Party”) Enron Parties has elected to exercise its rights under this Guaranty, such Non-Defaulting Counterparty Enron Party shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount the Defaulting Enron Party Counterparty has failed to pay and an explanation of why such payment is due, with a specific statement that such Non-Defaulting Counterparty Enron Party is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within two five (25) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until the Defaulting Enron Party Counterparty or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. As used herein, the term “Business Day” shall mean a day on which commercial banks or financial institutions are open for business in Houston, Texas and New York, New York. Guarantor shall not be liable for any Payment Demands in excess of the Guarantee Cap. In the event Guarantor receives approximately simultaneous Payment Demands from one or more Counterparty the Enron Parties with respect to Obligations owed under more than one Contract in excess of the Guarantee Cap, Guarantor’s total payment up to but not exceeding the Guarantee Cap, U.S.$100,000,000 shall be allocated among the Contracts to which the Enron Parties are parties in accordance with each Contract’s percentage of the total amount demanded by both. In all other instances, Guarantor’s payments hereunder, up to and including, but not in excess of the Guarantee Cap, will be made in the order in which the associated Payment Demands were received.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination EventDefault, as may be defined in any Contract, if any Enron Party (the “Defaulting Enron Party”) ENA fails or refuses to pay any Obligations, Obligations and any Counterparty Party (the “Non-Defaulting Counterparty Party”) has elected to exercise its rights under this Guaranty, such Non-Defaulting Counterparty Party shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount the Defaulting Enron Party ENA has failed to pay and an explanation of why such payment is due, with a specific statement that such Non-Defaulting Counterparty Party is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within two five (25) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until the Defaulting Enron Party ENA or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. As used herein, the term “Business Day” shall mean a day on which commercial banks or financial institutions are open for business in Houston, Texas and New York, New York. Guarantor shall not be liable for any Payment Demands in excess of the Guarantee Cap. In the event Guarantor receives approximately simultaneous Payment Demands from one or more Counterparty Parties with respect to Obligations owed under more than one Contract in excess of the Guarantee Cap, Guarantor’s total payment up to but not exceeding the Guarantee Cap, U.S.$___________ shall be allocated among the Contracts in accordance with each Contract’s percentage of the total amount demanded by both. In all other instances, Guarantor’s payments hereunder, up to and including, but not in excess of the Guarantee Cap, will be made in the order in which the associated Payment Demands were received.