Common use of Duty to Post Default Security Clause in Contracts

Duty to Post Default Security. On the date specified in Section 2.3(b), Seller shall post and maintain in favor of PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in substantially the form attached hereto as Exhibit D, or (b) a Letter of Credit, each in the amount specified in Section 8.2.1 (the “Default Security”), as provided in this Section 8.2. Seller and any entity providing a guaranty shall provide within five (5) Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm the guarantor satisfies the Credit Requirements.