Guaranty in Lieu of Bond. At any time, Seller shall have the option to provide or replace the Decommissioning Bond with a guaranty from an entity with an Investment Grade Credit Rating and in form and substance reasonably acceptable to Purchaser. Such guaranty shall (i) be subject to and governed by Virginia Law; (ii) guaranty an amount not less than the Decommissioning Amount, as such amount may be adjusted pursuant to Section 8.2(b) above; and (iii) shall not expire any earlier than the date that Decommissioning is completed (i.e., the System is removed from the Project Site upon expiration or earlier termination of this Agreement).
Appears in 6 contracts
Samples: Solar Power Purchase Agreement, Solar Power Purchase Agreement, Solar Power Purchase Agreement Services
