Common use of Draws on Credit Support Clause in Contracts

Draws on Credit Support. The Credit Support will be maintained at the expense of Seller, and Purchaser shall be entitled to access the Credit Support as necessary to secure Seller’s performance pursuant to this Agreement, including for satisfaction of any amounts owed to Purchaser herein. Purchaser shall have the right to draw against the Seller Letter of Credit and/or claim against the Seller Guaranty (i) upon the occurrence of a Seller Default, (ii) to satisfy any Claim by Purchaser under Section 23.1, (iii) as to any Seller Letter of Credit, if Seller fails to timely renew or extend such Seller Letter of Credit or provide substitute Credit Support, or the issuer no longer qualifies as a Qualified Issuer, and (iv) as to any Seller Guaranty, if Seller fails to timely provide a replacement Seller Guaranty from a qualified Seller Guarantor or provide alternate Credit Support as provided in Section 16.3. Notwithstanding the foregoing, solely with respect to Purchaser’s completion of the Seller Punch List Items pursuant to Section 9.5, Purchaser acknowledges and agrees that it shall not be entitled to access Credit Support until Purchaser has exhausted the Punch List Holdback. Amounts drawn pursuant to Section 16.2(iii) and (iv) may be applied to amounts owed under Section 16.2(i) and (ii) and shall otherwise be held in an interest bearing escrow account and returned to Seller upon Seller’s replacement of such Seller Letter of Credit or Seller Guaranty with a replacement Seller Letter of Credit or Seller Guaranty meeting the requirements of Section 16.1. 46

Draws on Credit Support. The Credit Support will be maintained at the expense of SellerPurchaser, and Purchaser Seller shall be entitled to access the Credit Support as necessary to secure SellerPurchaser’s performance pursuant to this Agreement, including for satisfaction of any amounts owed to Purchaser Seller herein. Purchaser Seller shall have the right to draw against the Seller Purchaser Letter of Credit and/or claim against the Seller Purchaser Guaranty (i) upon the occurrence of a Seller Purchaser Default, (ii) to satisfy any Claim by Purchaser Seller under Section 23.123.2, (iii) as to any Seller Purchaser Letter of Credit, if Seller Purchaser fails to timely renew or extend such Seller Purchaser Letter of Credit or provide substitute Credit Support, or the issuer no longer qualifies as a Qualified Issuer, and (iv) as to any Seller Purchaser Guaranty, if Seller Purchaser fails to timely provide a replacement Seller Purchaser Guaranty from a qualified Seller Purchaser Guarantor or provide alternate Credit Support as provided in Section 16.3. Notwithstanding the foregoing, solely with respect to Purchaser’s completion of the Seller Punch List Items pursuant to Section 9.5, Purchaser acknowledges and agrees that it shall not be entitled to access Credit Support until Purchaser has exhausted the Punch List Holdback17.3. Amounts drawn pursuant to Section 16.2(iii17.2(iii) and (iv) may be applied to amounts owed under Section 16.2(i17.2(i) and (ii) and shall otherwise be held in an interest bearing escrow account and returned to Seller Purchaser upon SellerPurchaser’s replacement of such Seller Purchaser Letter of Credit or Seller Purchaser Guaranty with a replacement Seller Purchaser Letter of Credit or Seller Purchaser Guaranty meeting the requirements of Section 16.117.1. 46

Draws on Credit Support. The Credit Support will be maintained at the expense of Seller, and Purchaser Company shall be entitled to access the Credit Support as necessary to secure Seller’s performance pursuant to this AgreementPPA, including for satisfaction of any amounts owed to Purchaser Company herein. Purchaser Company shall have the right to draw against the Seller Letter of Credit and/or claim against the Seller Guaranty (i) upon the occurrence of a Seller Default, (ii) to satisfy any Claim by Purchaser Company under Section 23.1Article 18, (iii) as to any Seller Letter of Credit, if Seller fails to timely renew or extend such the Seller Letter of Credit or provide substitute Credit Support, or the issuer no longer qualifies as a Qualified Issuer, and (iv) as to any Seller Guaranty, if Seller fails to timely provide a replacement Seller Guaranty from a qualified Seller an Acceptable Guarantor or provide alternate Credit Support as provided in Section 16.3. Notwithstanding the foregoing, solely with respect to Purchaser’s completion of the Seller Punch List Items pursuant to Section 9.5, Purchaser acknowledges and agrees that it shall not be entitled to access Credit Support until Purchaser has exhausted the Punch List Holdback12.3. Amounts drawn pursuant to Section 16.2(iii12.2(iii) and (iv) may be applied to amounts owed under Section 16.2(i12.2(i) and (ii) and shall otherwise be held in an interest bearing escrow account and returned to Seller upon Seller’s replacement of such the Seller Letter of Credit or Seller Guaranty with a replacement Seller Letter of Credit or Seller Guaranty meeting the requirements of Section 16.112.1. 4628

Draws on Credit Support. The Credit Support will be maintained at the expense of Seller, and Purchaser shall be entitled to access the Credit Support as necessary to secure Seller’s performance pursuant to this Agreement, including for satisfaction of any amounts owed to Purchaser herein. Purchaser shall have the right to draw against the Seller Letter of Credit and/or claim against the Seller Guaranty (i) upon the occurrence of a Seller Default, (ii) to satisfy any Claim by Purchaser under Section 23.1, (iii) as to any Seller Letter of Credit, if Seller fails to timely renew or extend such Seller Letter of Credit or provide substitute Credit Support, or the issuer no longer qualifies as a Qualified Issuer, and (iv) as to any Seller Guaranty, if Seller fails to timely provide a replacement Seller Guaranty from a qualified Seller Guarantor or provide alternate Credit Support as provided in Section 16.3. Notwithstanding the foregoing, solely with respect to Purchaser’s completion of the Seller Punch List Items pursuant to Section 9.5, Purchaser acknowledges and agrees that it shall not be entitled to access Credit Support until Purchaser has exhausted the Punch List Holdback. Amounts drawn pursuant to Section 16.2(iii) and (iv) may be applied to amounts owed under Section 16.2(i) and (ii) and shall otherwise be held in an interest bearing escrow account and returned to Seller upon Seller’s replacement of such Seller Letter of Credit or Seller Guaranty with a replacement Seller Letter of Credit or Seller Guaranty meeting the requirements of Section 16.1. 4645

Draws on Credit Support. The Credit Support will be maintained at the expense of SellerPurchaser, and Purchaser Seller shall be entitled to access the Credit Support as necessary to secure SellerPurchaser’s performance pursuant to this Agreement, including for satisfaction of any amounts owed to Purchaser Seller herein. Purchaser Seller shall have the right to draw against the Seller Purchaser Letter of Credit and/or claim against the Seller Purchaser Guaranty (i) upon the occurrence of a Seller Purchaser Default, (ii) to satisfy any Claim by Purchaser Seller under Section 23.123.2, (iii) as to any Seller Purchaser Letter of Credit, if Seller Purchaser fails to timely renew or extend such Seller Purchaser Letter of Credit or provide substitute Credit Support, or the issuer no longer qualifies as a Qualified Issuer, and (iv) as to any Seller Purchaser Guaranty, if Seller Purchaser fails to timely provide a replacement Seller Purchaser Guaranty from a qualified Seller Purchaser Guarantor or provide alternate Credit Support as provided in Section 16.3. Notwithstanding the foregoing, solely with respect to Purchaser’s completion of the Seller Punch List Items pursuant to Section 9.5, Purchaser acknowledges and agrees that it shall not be entitled to access Credit Support until Purchaser has exhausted the Punch List Holdback17.3. Amounts drawn pursuant to Section 16.2(iii17.2(iii) and (iv) may be applied to amounts owed under Section 16.2(i17.2(i) and (ii) and shall otherwise be held in an interest bearing escrow account and returned to Seller Purchaser upon SellerPurchaser’s replacement of such Seller Purchaser Letter of Credit or Seller Purchaser Guaranty with a replacement Seller Purchaser Letter of Credit or Seller Purchaser Guaranty meeting the requirements of Section 16.117.1. 4648