Common use of Financial Security Arrangements Clause in Contracts

Financial Security Arrangements. Pursuant to the Interconnection Agreement Milestones Appendix 4, the Interconnection Customer shall provide the Utility a letter of credit or other financial security arrangement that is reasonably acceptable to the Utility and is consistent with the Uniform Commercial Code of South Carolina. Such security for payment shall be in an amount sufficient to cover the costs for constructing, designing, procuring, and installing the applicable portion of the Utility’s Interconnection Facilities and Upgrades and shall be reduced on a dollar-for-dollar basis for payments made to the Utility under this Agreement during its term. In addition:

Financial Security Arrangements. Pursuant to the Interconnection Agreement Milestones Appendix 4, the Interconnection Customer shall provide the Utility Authority a letter of credit or other financial security arrangement that is reasonably acceptable to the Utility Authority and is consistent with the Uniform Commercial Code of South Carolina. Such security for payment shall be in an amount sufficient to cover the costs for constructing, designing, procuring, and installing the applicable portion of the UtilityAuthority’s Interconnection Facilities and Upgrades and shall be reduced on a dollar-for-dollar basis for payments made to the Utility Authority under this Agreement during its term. In addition:

Financial Security Arrangements. Pursuant to the Interconnection Agreement Milestones Appendix 4, the Interconnection Customer shall provide the Utility a letter of credit or other financial security arrangement that is reasonably acceptable to the Utility and is consistent with the Uniform Commercial Code of South North Carolina. Such security for payment shall be in an amount sufficient to cover the costs for constructing, designing, procuring, and installing the applicable portion of the Utility’s Interconnection Facilities and Upgrades and shall be reduced on a dollar-for-dollar basis for payments made to the Utility under this Agreement during its term. In addition: