Common use of Form of Collateral Clause in Contracts

Form of Collateral. When the Network User has to submit a collateral according to Articles 14.1.1 and 14.1.2, the Network User can choose to submit such collateral in one of the following forms (or a combination of such forms): (i) A cash deposit on a bank account of the TSO. Such deposit in cash shall accrue a monthly interest at the average three (3) Month EURIBOR rate (set by reference to Reuters) for that Month minus ten (10) base points. The interest will be exclusively for the benefit of the Network User; or (ii) an unconditional and irrevocable Bank Guarantee issued by a bank approved by the Financial Services & Markets Authority (or by an equivalent body in one of the Members States of the European Union) and which has a credit rating as specified in Article 14.1.1

Form of Collateral. When the Network User has to submit a collateral according to Articles 14.1.1 and 14.1.2, the Network User can choose to submit such collateral in one of the following forms (or a combination of such forms): (i) A cash deposit on a bank account of the TSO. Such deposit in cash shall accrue a monthly interest at the average three (3) Month EURIBOR rate (set by reference to Reuters) for that Month minus ten (10) base points. The interest will be exclusively for the benefit of the Network User; or (ii) an unconditional and irrevocable Bank Guarantee issued by a bank approved by the Financial Services & Markets Authority (or by an equivalent body in one of the Members States of the European Union) and which has a credit rating as specified in Article 14.1.1of

Form of Collateral. When the Network Grid User has to submit a collateral according to Articles 14.1.1 and 14.1.2, the Network Grid User can choose to submit such collateral in one of the following forms (or a combination of such forms): (i) A cash deposit on a bank account of the TSO. Such deposit in cash shall accrue a monthly interest at the average three (3) Month EURIBOR rate (set by reference to Reuters) for that Month minus ten (10) base points. The interest will be exclusively for the benefit of the Network Grid User; or (ii) an unconditional and irrevocable Bank Guarantee issued by a bank approved by the Financial Services & Markets Authority (or by an equivalent body in one of the Members States of the European Union) and which has a credit rating as specified in Article 14.1.1

Form of Collateral. When the Network User has to submit a collateral according to Articles 14.1.1 and 14.1.2, the Network User can choose to submit such collateral in one of the following forms (or a combination of such forms): (i) A cash deposit on a bank account of the TSO. Such deposit in cash shall accrue a monthly interest at the average three (3) Month EURIBOR rate (set by reference to Reuters) for that Month minus ten (10) base points. The interest will be exclusively for the benefit of the Network User; or (ii) an unconditional and irrevocable Bank Guarantee issued by a bank approved by the Financial Services & Markets Authority (or by an equivalent body in one of the Members States of the European Union) and which has a credit rating as specified in Article 14.1.1specified