Common use of General Provisions Applicable to Credit Support Clause in Contracts

General Provisions Applicable to Credit Support. (a) Credit Support in the form of Cash. (i) Seller pledges to Buyer, as security for its obligations under this Agreement, and grants to Buyer a first priority continuing security interest in, lien on and right of set-off against all Credit Support in the form of Cash transferred to or received by Buyer under this Agreement. Upon the transfer by Buyer to Seller of Cash held by Buyer as Credit Support, the security interest and lien granted hereunder on that Cash will be released immediately, and to the extent possible, without any further action by either Party. (ii) Buyer shall maintain all Credit Support in the form of Cash transferred to or received by Buyer with a Qualified Issuer for the purpose of holding Credit Support provided to Buyer by Seller. (iii) In lieu of any interest paid or deemed to have been paid with respect to Credit Support in the form of Cash (all of which may be retained by Buyer), Credit Support in the form of Cash will accrue interest on a daily basis at the Fed Funds Rate for the actual number of days elapsed based on a year of 365 days. Seller shall include the amount of the accrued interest, if any, payable by Buyer with respect to a month in the invoice provided with respect to such month pursuant to Section 5.1.8 Any accrued interest will constitute Credit Support in the form of Cash and will be subject to the security interest granted under Section 6.2(a)(i). (iv) For purposes of this Agreement, the value of Credit Support in the form of Cash is equal to the sum of the amount of such Cash plus any interest accrued with respect to such Cash held by Buyer as Credit Support. (b) Credit Support in the form of a Letter of Credit. (i) Each Letter of Credit must provide that Buyer may, and Buyer has the right to, in the following situations and upon presentation to the issuer of such Letter of Credit of the 8 Note to PGE: Consider alternatively having all interest accrue until the Operating Period Credit Support is released following the Term. certificates or other documentation required by the terms of the Letter of Credit, draw upon the Letter of Credit in an amount up to the amount due and unpaid by Seller (including any amounts due in connection with the termination of this Agreement) in the case of clause (A), or up to the entire amount available to be drawn thereunder in the case of clause (B): (A) Either (x) an Event of Default has occurred and is continuing with respect to Seller or (y) this Agreement has terminated or an early termination date in respect of this Agreement has been designated in connection with the occurrence of an Event of Default with respect to Seller. (B) A Letter of Credit Default has occurred with respect to the Letter of Credit or sixty (60) or fewer days remain until the expiration date of the Letter of Credit and Seller has failed to renew, substitute, or sufficiently increase the amount of an outstanding Letter of Credit (as the case may be), establish one or more additional Letters of Credit, or otherwise transfer sufficient Credit Support to Buyer as required by this Agreement. (ii) With respect to each outstanding Letter of Credit, Seller shall either cause the Letter of Credit to be renewed or provide substitute Credit Support, in each case at least sixty (60) days prior to the expiration date of the Letter of Credit. If a Letter of Credit Default occurs with respect to an outstanding Letter of Credit, Seller shall within five (5) Business Days following receipt of Buyer’s notice of the Letter of Credit Default, as applicable, transfer to Buyer substitute Credit Support. For purposes of this clause (ii), the aggregate value of substitute Credit Support that Seller is required to transfer to Buyer must be at least equal to the amount required to cause the total value of all outstanding Credit Support, calculated excluding the value of (x) the expiring Letter of Credit, or (y) the Letter of Credit to which the Letter of Credit Default applies, as applicable, to be at least equal to the Credit Support Amount then applicable to Seller. (iii) Upon the occurrence of a Letter of Credit Default of the type described in clauses (ii), (iii), or (vi) of the definition thereof, the issuer of the affected Letter of Credit will no longer be a Qualified Issuer for purposes of the definition of the term “Letter of Credit” unless otherwise agreed by Buyer. (iv) Proceeds received by Buyer from any draw on a Letter of Credit will, to the extent not applied to the outstanding obligations of Seller under this Agreement, constitute Credit Support in the form of Cash. (v) For purposes of this Agreement the value of Credit Support in the form of Letter of Credit is equal to the amount available to be drawn by Buyer under such Letter of Credit. (vi) All costs and expenses associated with establishing, maintaining, renewing, substituting, cancelling, increasing, or reducing the amount of (as the case may be) one or more Letters of Credit are the responsibility of Seller.

General Provisions Applicable to Credit Support. (a) Credit Support in the form of Cash. (i) Seller pledges to BuyerPGE, as security for its obligations under this Agreement, and grants to Buyer PGE a first priority continuing security interest in, lien on and right of set-off against all Credit Support in the form of Cash transferred to or received by Buyer PGE under this Agreement. Upon the transfer by Buyer PGE to Seller of Cash held by Buyer PGE as Credit Support, the security interest and lien granted hereunder on that Cash Xxxx will be released immediately, and to the extent possible, without any further action by either Party. (ii) Buyer PGE shall maintain all Credit Support in the form of Cash transferred to or received by Buyer PGE with a Qualified Issuer Institution for the purpose of holding Credit Support provided to Buyer PGE by Seller. (iii) In lieu of any interest paid or deemed to have been paid with respect to Credit Support in the form of Cash (all of which may be retained by BuyerPGE), Credit Support in the form of Cash will accrue interest on a daily basis at the Fed Funds Interest Rate for the actual number of days elapsed based on a year of 365 days. Seller shall include the amount of the accrued interest, if any, payable by Buyer PGE with respect to a month in the invoice provided with respect to such month pursuant to Section 5.1.8 7.1. Any accrued interest will constitute Credit Support in the form of Cash and will be subject to the security interest granted under Section 6.2(a)(i)9.3. (iv) For purposes of this Agreement, the value of Credit Support in the form of Cash is equal to the sum of the amount of such Cash plus any interest accrued with respect to such Cash held by Buyer PGE as Credit Support. (b) Credit Support in the form of a Letter of Credit. (i) Each Letter of Credit must provide that Buyer PGE may, and Buyer PGE has the right to, in the following situations and upon presentation to the issuer of such Letter of Credit of the 8 Note to PGE: Consider alternatively having all interest accrue until the Operating Period Credit Support is released following the Term. certificates or other documentation required by the terms of the Letter of Credit, draw upon the Letter of Credit in an amount up to the amount due and unpaid by Seller (including any amounts due in connection with the termination of this Agreement) in the case of clause (A)) below, or up to the entire amount available to be drawn thereunder in the case of clause (B):) below: (A) Either (x) an Event of Default has occurred and is continuing with respect to Seller or (y) this Agreement has terminated or an early termination date in respect of this Agreement has been designated in connection with the occurrence of an Event of Default with respect to Seller.Seller.‌‌ (B) A Letter of Credit Default has occurred with respect to the Letter of Credit or sixty (60) or fewer days remain until the expiration date of the Letter of Credit and Seller has failed to renew, substitute, or sufficiently increase the amount of an outstanding Letter of Credit (as the case may be), establish one or more additional Letters of Credit, or otherwise transfer sufficient Credit Support to Buyer PGE as required by this Agreement. (ii) With respect to each outstanding Letter of Credit, Seller shall either cause the Letter of Credit to be renewed or provide substitute Credit Support, in each case at least sixty (60) days prior to the expiration date of the Letter of Credit. If a Letter of Credit Default occurs with respect to an outstanding Letter of Credit, Seller shall within five (5) Business Days following receipt of BuyerPGE’s notice of the Letter of Credit Default, as applicable, transfer to Buyer PGE substitute Credit Support. For purposes of this clause (ii)) of this subsection, the aggregate value of substitute Credit Support that Seller is required to transfer to Buyer PGE must be at least equal to the amount required to cause the total value of all outstanding Credit Support, calculated excluding the value of (x) the expiring Letter of Credit, or (y) the Letter of Credit to which the Letter of Credit Default applies, as applicable, to be at least equal to the Credit Support Amount then applicable to Seller.Seller.‌ (iii) Upon the occurrence of a Letter of Credit Default of the type described in clauses (ii), (iii), or (vi) of the definition thereof, the issuer of the affected Letter of Credit will no longer be a Qualified Issuer Institution for purposes of the definition of the term “Letter of Credit” unless otherwise agreed by Buyer.PGE.‌ (iv) Proceeds received by Buyer PGE from any draw on a Letter of Credit will, to the extent not applied to the outstanding obligations of Seller under this Agreement, constitute Credit Support in the form of Cash. (v) For purposes of this Agreement the value of Credit Support in the form of Letter of Credit is equal to the amount available to be drawn by Buyer PGE under such Letter of Credit. (vi) All costs and expenses associated with establishing, maintaining, renewing, substituting, cancelling, increasing, or reducing the amount of (as the case may be) one or more Letters of Credit are the responsibility of Seller.Seller.‌

General Provisions Applicable to Credit Support. (a) Credit Support in the form of Cash. (i) Seller pledges to Buyer, as security for its obligations under this Agreement, and grants to Buyer a first priority continuing security interest in, lien on and and‌ right of set-off against all Credit Support in the form of Cash transferred to or received by Buyer under this Agreement. Upon the transfer by Buyer Xxxxx to Seller of Cash held by Buyer Xxxxx as Credit Support, the security interest and lien granted hereunder on that Cash Xxxx will be released immediately, and to the extent possible, without any further action by either Party. (ii) Buyer shall maintain all Credit Support in the form of Cash transferred to or received by Buyer with a Qualified Issuer Institution for the purpose of holding Credit Support provided to Buyer by Seller. (iii) In lieu of any interest paid or deemed to have been paid with respect to Credit Support in the form of Cash (all of which may be retained by Buyer), Credit Support in the form of Cash will accrue interest on a daily basis at the Fed Funds Interest Rate for the actual number of days elapsed based on a year of 365 days. Seller shall include the amount of the accrued interest, if any, payable by Buyer with respect to a month in the invoice provided with respect to such month pursuant to Section 5.1.8 7.1. Any accrued interest will constitute Credit Support in the form of Cash and will be subject to the security interest granted under Section 6.2(a)(i8.2(a)(i). (iv) For purposes of this Agreement, the value of Credit Support in the form of Cash is equal to the sum of the amount of such Cash plus any interest accrued with respect to such Cash held by Buyer as Credit Support. (b) Credit Support in the form of a Letter of Credit. (i) Each Letter of Credit must provide that Buyer may, and Buyer Xxxxx has the right to, in the following situations and upon presentation to the issuer of such Letter of Credit of the 8 Note to PGE: Consider alternatively having all interest accrue until the Operating Period Credit Support is released following the Term. certificates or other documentation required by the terms of the Letter of Credit, draw upon the Letter of Credit in an amount up to the amount due and unpaid by Seller (including any amounts due in connection with the termination of this Agreement) in the case of clause (A)) below, or up to the entire amount available to be drawn thereunder in the case of clause (B):) below: (A) Either (x) an Event of Default has occurred and is continuing with respect to Seller or (y) this Agreement has terminated or an early termination date in respect of this Agreement has been designated in connection with the occurrence of an Event of Default with respect to Seller.Seller.‌ (B) A Letter of Credit Default has occurred with respect to the Letter of Credit or sixty (60) or fewer days remain until the expiration date of the Letter of Credit and Seller has failed to renew, substitute, or sufficiently increase the amount of an outstanding Letter of Credit (as the case may be), establish one or more additional Letters of Credit, or otherwise transfer sufficient Credit Support to Buyer as required by this Agreement.Agreement.‌ (ii) With respect to each outstanding Letter of Credit, Seller shall either cause the Letter of Credit to be renewed or provide substitute Credit Support, in each case at least sixty (60) days prior to the expiration date of the Letter of Credit. If a Letter of Credit Default occurs with respect to an outstanding Letter of Credit, Seller shall within within‌ five (5) Business Days following receipt of BuyerXxxxx’s notice of the Letter of Credit Default, as applicable, transfer to Buyer substitute Credit Support. For purposes of this clause (ii), the aggregate value of substitute Credit Support that Seller is required to transfer to Buyer must be at least equal to the amount required to cause the total value of all outstanding Credit Support, calculated excluding the value of (x) the expiring Letter of Credit, or (y) the Letter of Credit to which the Letter of Credit Default applies, as applicable, to be at least equal to the Credit Support Amount then applicable to Seller. (iii) Upon the occurrence of a Letter of Credit Default of the type described in clauses (ii), (iii), or (vi) of the definition thereof, the issuer of the affected Letter of Credit will no longer be a Qualified Issuer Institution for purposes of the definition of the term “Letter of Credit” unless otherwise agreed by Buyer.Buyer.‌ (iv) Proceeds received by Buyer from any draw on a Letter of Credit will, to the extent not applied to the outstanding obligations of Seller under this Agreement, constitute Credit Support in the form of Cash. (v) For purposes of this Agreement the value of Credit Support in the form of Letter of Credit is equal to the amount available to be drawn by Buyer under such Letter of Credit. (vi) All costs and expenses associated with establishing, maintaining, renewing, substituting, cancelling, increasing, or reducing the amount of (as the case may be) one or more Letters of Credit are the responsibility of Seller.Seller.‌

General Provisions Applicable to Credit Support. (a) Credit Support in the form of Cash. (i) Seller pledges to Buyer, as security for its obligations under this Agreement, and grants to Buyer a first priority continuing security interest in, lien on and right of set-off against all Credit Support in the form of Cash transferred to or received by Buyer under this Agreement. Upon the transfer by Buyer to Seller of Cash held by Buyer as Credit Support, the security interest and lien granted hereunder on that Cash will be released immediately, and to the extent possible, without any further action by either Party.Party.‌ (ii) Buyer shall maintain all Credit Support in the form of Cash transferred to or received by Buyer with a Qualified Issuer for the purpose of holding Credit Support provided to Buyer by Seller. (iii) In lieu of any interest paid or deemed to have been paid with respect to Credit Support in the form of Cash (all of which may be retained by Buyer), Credit Support in the form of Cash will accrue interest on a daily basis at the Fed Funds Rate for the actual number of days elapsed based on a year of 365 days. Seller shall include the amount of the accrued interest, if any, payable by Buyer with respect to a month in the invoice provided with respect to such month pursuant to Section 5.1.8 Any accrued interest will constitute Credit Support in the form of Cash and will be subject to the security interest granted under Section 6.2(a)(i). (iv) For purposes of this Agreement, the value of Credit Support in the form of Cash is equal to the sum of the amount of such Cash plus any interest accrued with respect to such Cash held by Buyer as Credit Support. (b) Credit Support in the form of a Letter of Credit. (i) Each Letter of Credit must provide that Buyer may, and Buyer has the right to, in the following situations and upon presentation to the issuer of such Letter of Credit of the 8 Note to PGE: Consider alternatively having all interest accrue until the Operating Period Credit Support is released following the Term. certificates or other documentation required by the terms of the Letter of Credit, draw upon the Letter of Credit in an amount up to the amount due and unpaid by Seller (including any amounts due in connection with the termination of this Agreement) in the case of clause (A), or up to the entire amount available to be drawn thereunder in the case of clause (B):the (A) Either (x) an Event of Default has occurred and is continuing with respect to Seller or (y) this Agreement has terminated or an early termination date in respect of this Agreement has been designated in connection with the occurrence of an Event of Default with respect to Seller.Seller.‌ (B) A Letter of Credit Default has occurred with respect to the Letter of Credit or sixty (60) or fewer days remain until the expiration date of the Letter of Credit and Seller has failed to renew, substitute, or sufficiently increase the amount of an outstanding Letter of Credit (as the case may be), establish one or more additional Letters of Credit, or otherwise transfer sufficient Credit Support to Buyer as required by this Agreement.Agreement.‌ (ii) With respect to each outstanding Letter of Credit, Seller shall either cause the Letter of Credit to be renewed or provide substitute Credit Support, in each case at least sixty (60) days prior to the expiration date of the Letter of Credit. If a Letter of Credit Default occurs with respect to an outstanding Letter of Credit, Seller shall within five (5) Business Days following receipt of Buyer’s notice of the Letter of Credit Default, as applicable, transfer to Buyer substitute Credit Support. For purposes of this clause (ii), the aggregate value of substitute Credit Support that Seller is required to transfer to Buyer must be at least equal to the amount required to cause the total value of all outstanding Credit Support, calculated excluding the value of (x) the expiring Letter of Credit, or (y) the Letter of Credit to which the Letter of Credit Default applies, as applicable, to be at least equal to the Credit Support Amount then applicable to Seller.Seller.‌ (iii) Upon the occurrence of a Letter of Credit Default of the type described in clauses (ii), (iii), or (vi) of the definition thereof, the issuer of the affected Letter of Credit will no longer be a Qualified Issuer for purposes of the definition of the term “Letter of Credit” unless otherwise agreed by Buyer. (iv) Proceeds received by Buyer from any draw on a Letter of Credit will, to the extent not applied to the outstanding obligations of Seller under this Agreement, constitute Credit Support in the form of Cash. (v) For purposes of this Agreement the value of Credit Support in the form of Letter of Credit is equal to the amount available to be drawn by Buyer under such Letter of Credit. (vi) All costs and expenses associated with establishing, maintaining, renewing, substituting, cancelling, increasing, or reducing the amount of (as the case may be) one or more Letters of Credit are the responsibility of Seller.

General Provisions Applicable to Credit Support. (a) Credit Support in the form of Cash. (i) Seller pledges to BuyerPGE, as security for its obligations under this Agreement, and grants to Buyer PGE a first priority continuing security interest in, lien on and right of set-off against all Credit Support in the form of Cash transferred to or received by Buyer PGE under this Agreement. Upon the transfer by Buyer PGE to Seller of Cash held by Buyer PGE as Credit Support, the security interest and lien granted hereunder on that Cash Xxxx will be released immediately, and to the extent possible, without any further action by either Party. (ii) Buyer PGE shall maintain all Credit Support in the form of Cash transferred to or received by Buyer PGE with a Qualified Issuer Institution for the purpose of holding Credit Support provided to Buyer PGE by Seller. (iii) In lieu of any interest paid or deemed to have been paid with respect to Credit Support in the form of Cash (all of which may be retained by BuyerPGE), Credit Support in the form of Cash will accrue interest on a daily basis at the Fed Funds Interest Rate for the actual number of days elapsed based on a year of 365 days. Seller shall include the amount of the accrued interest, if any, payable by Buyer PGE with respect to a month in the invoice provided with respect to such month pursuant to Section 5.1.8 Error! Reference source not found. 7.1. Any accrued interest will constitute Credit Support in the form of Cash and will be subject to the security interest granted under Section 6.2(a)(i)9.3. (iv) For purposes of this Agreement, the value of Credit Support in the form of Cash is equal to the sum of the amount of such Cash plus any interest accrued with respect to such Cash held by Buyer PGE as Credit Support. (b) Credit Support in the form of a Letter of Credit. (i) Each Letter of Credit must provide that Buyer PGE may, and Buyer PGE has the right to, in the following situations and upon presentation to the issuer of such Letter of Credit of the 8 Note to PGE: Consider alternatively having all interest accrue until the Operating Period Credit Support is released following the Term. certificates or other documentation required by the terms of the Letter of Credit, draw upon the Letter of Credit in an amount up to the amount due and unpaid by Seller (including any amounts due in connection with the termination of this Agreement) in the case of clause (A)) below, or up to the entire amount available to be drawn thereunder in the case of clause (B):A)(B) below: (A) Either (x) an Event of Default has occurred and is continuing with respect to Seller or (y) this Agreement has terminated or an early termination date in respect of this Agreement has been designated in connection with the occurrence of an Event of Default with respect to Seller. (B) A Letter of Credit Default has occurred with respect to the Letter of Credit or sixty (60) or fewer days remain until the expiration date of the Letter of Credit and Seller has failed to renew, substitute, or sufficiently increase the amount of an outstanding Letter of Credit (as the case may be), establish one or more additional Letters of Credit, or otherwise transfer sufficient Credit Support to Buyer PGE as required by this Agreement. (ii) With respect to each outstanding Letter of Credit, Seller shall either cause the Letter of Credit to be renewed or provide substitute Credit Support, in each case at least sixty (60) days prior to the expiration date of the Letter of Credit. If a Letter of Credit Default occurs with respect to an outstanding Letter of Credit, Seller shall within five (5) Business Days following receipt of BuyerPGE’s notice of the Letter of Credit Default, as applicable, transfer to Buyer PGE substitute Credit Support. For purposes of this clause (ii)) of this subsection, the aggregate value of substitute Credit Support that Seller is required to transfer to Buyer PGE must be at least equal to the amount required to cause the total value of all outstanding Credit Support, calculated excluding the value of (x) the expiring Letter of Credit, or (y) the Letter of Credit to which the Letter of Credit Default applies, as applicable, to be at least equal to the Credit Support Amount then applicable to Seller. (iii) Upon the occurrence of a Letter of Credit Default of the type described in clauses (ii), (iii), or (vi) of the definition thereof, the issuer of the affected Letter of Credit will no longer be a Qualified Issuer Institution for purposes of the definition of the term “Letter of Credit” unless otherwise agreed by BuyerPGE. (iv) Proceeds received by Buyer PGE from any draw on a Letter of Credit will, to the extent not applied to the outstanding obligations of Seller under this Agreement, constitute Credit Support in the form of Cash. (v) For purposes of this Agreement the value of Credit Support in the form of Letter of Credit is equal to the amount available to be drawn by Buyer PGE under such Letter of Credit. (vi) All costs and expenses associated with establishing, maintaining, renewing, substituting, cancelling, increasing, or reducing the amount of (as the case may be) one or more Letters of Credit are the responsibility of Seller.