Common use of Duty to Post Levelized Security Clause in Contracts

Duty to Post Levelized Security. At any time during the Term when Seller does not satisfy the Credit Requirements, Seller shall post and maintain in favor of PacifiCorp, in the amount set forth in Exhibit 8.3.2 at the applicable time and as adjusted by its terms from time to time, (a) a guaranty from an entity that satisfies the Credit Requirements, in a form acceptable to PacifiCorp in its reasonable discretion, or (b) a Letter of Credit (the "Levelized Security"), as provided in this Section 8.3. In the event Seller posts Levelized Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Levelized Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party providing a guaranty for Seller shall provide within five Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.

Duty to Post Levelized Security. At Beginning on the Effective Date, at any time during the Term when Seller has elected to receive levelized pricing and does not satisfy the Credit Requirements, Seller shall post and maintain in favor of PacifiCorp, in the amount set forth in Exhibit 8.3.2 at the applicable time and as adjusted by its terms from time to time, PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in a form acceptable to PacifiCorp in its reasonable discretion, or (b) a Letter of Credit Credit, or (c) cash escrow (established in the same manner as described in Section 8.2.1, except the amount shall be consistent with the requirements on this Section 8.4) (the "Levelized Security"), as provided in this Section 8.38.4. In the event Seller posts Levelized Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Levelized Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party providing a guaranty for Seller shall provide within five Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.

Duty to Post Levelized Security. At If Seller has elected to receive levelized pricing, beginning on the date specified in Section 2.3(c), at any time during the Term when Seller does not satisfy the Credit Requirements, Seller shall post and maintain in favor of PacifiCorp, in the amount set forth in Exhibit 8.3.2 at the applicable time and as adjusted by its terms from time to time, PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in a substantially the form acceptable to PacifiCorp in its reasonable discretionattached hereto as Exhibit C, or (b) a Letter of Credit (the "“Levelized Security"”), as provided in this Section 8.3. In the event Seller posts Levelized Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Levelized Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party providing a guaranty for Seller shall provide within five (5) Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.

Duty to Post Levelized Security. At Beginning on the Effective Date, at any time during the Term when Seller has elected to receive levelized pricing and does not satisfy the the‌ Credit Requirements, Seller shall post and maintain in favor of PacifiCorp, in the amount set forth in Exhibit 8.3.2 at the applicable time and as adjusted by its terms from time to time, PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in a form acceptable to PacifiCorp in its reasonable discretion, or (b) a Letter of Credit Credit, or (c) cash escrow (established in the same manner as described in Section 8.2.1, except the amount shall be consistent with the requirements on this Section 8.4) (the "Levelized Security"), as provided in this Section 8.38.4. In the event Seller posts Levelized Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Levelized Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party providing a guaranty for Seller shall provide within five Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.

Duty to Post Levelized Security. At If Seller has elected to receive levelized pricing, beginning on the dates specified in Section 2.2(c), at any time during the Term when Seller does not satisfy the Credit Requirements, Seller shall post and maintain in favor of PacifiCorp, in the amount set forth in Exhibit 8.3.2 at the applicable time and as adjusted by its terms from time to time, PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in a form acceptable to PacifiCorp in its reasonable discretion, or (b) a Letter of Credit (the "“Levelized Security"”), as provided in this Section 8.3. In the event Seller posts Levelized Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Levelized Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party providing a guaranty for Seller shall provide within five (5) Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.Requirements.‌

Duty to Post Levelized Security. At If Seller has elected to receive levelized pricing, beginning on the dates specified in Section 2.2(c), at any time during the Term when Seller does not satisfy the Credit Requirements, Seller shall post and maintain in favor of PacifiCorp, in the amount set forth in Exhibit 8.3.2 at the applicable time and as adjusted by its terms from time to time, PacifiCorp (a) a guaranty from an entity that satisfies the Credit Requirements, in a form acceptable to PacifiCorp in its reasonable discretion, or (b) a Letter of Credit (the "Levelized Security"), as provided in this Section 8.3. In the event Seller posts Levelized Security and thereafter satisfies the Credit Requirements, as demonstrated to the reasonable satisfaction of PacifiCorp, then Seller shall be entitled to a release by PacifiCorp of the Levelized Security for so long as Seller continues to satisfy the Credit Requirements. Seller and any party providing a guaranty for Seller shall provide within five (5) Business Days from receipt of a written request from PacifiCorp all reasonable financial records necessary for PacifiCorp to confirm Seller and/or the guarantor satisfies the Credit Requirements.