Initial Amounts. Prior to NCPA providing Services, Customer shall deposit into a Security Account held by NCPA an amount equal to the highest three (3) months of estimated CAISO invoices for the succeeding twelve (12) months; provided, however, that such deposit may be satisfied in whole or in part either in cash or through a clean, irrevocable letter of credit satisfactory to the General Manager. NCPA shall maintain a detailed accounting of Customer’s deposit in the Security Account.
Initial Amounts. NCPA shall notify each Participant three (3) months prior to the expected initial delivery of power of the initial security amounts which Participant shall be obligated to pay for under this Agreement. Each Participant shall ensure that sufficient funds are on deposit in the Security Account equal to the highest (3) months of the immediately following (12) months of estimated Project Costs ; provided, however, that such deposit may be satisfied, in whole or in part, either in cash, by posting an irrevocable standby letter of credit or furnishing any other negotiable instrument satisfactory to NCPA’s General Manager, exercising his or her reasonable discretion.
Initial Amounts. The Borrowing Base in effect on the date of this Agreement is hereby determined to be $150,000,000, and the Threshold Amount in effect on the date of this Agreement is hereby determined to be $60,000,000. The Borrowing Base and the Threshold Amount shall remain at the respective amounts determined pursuant to the first sentence of this Section 1.04(a) until the date on which (x) the Administrative Agent shall next establish the Borrowing Base and/or Threshold Amount, as the case may be, as provided in Section 1.04(b) hereof or Section 1.04(c) hereof or (y) the Borrowing Base and/or Threshold Amount is reduced pursuant to Section 2.09 hereof.
Initial Amounts. Prior to subscribing to an Eligible Gas Purchase, a Participant shall deposit into the Security Account held by NCPA on account equal to the highest three (3) months of estimated Commodity Costs for all Eligible Gas Purchases Participant has or will subscribe to as estimated by NCPA; provided, however, that such deposit may be satisfied in whole or in part either in cash or through a clean, irrevocable letter of credit satisfactory to NCPA’s General Manager.
Initial Amounts. The minimum amounts of insurance that Licensee shall obtain and maintain are as follows:
Initial Amounts. The Liquidated Damage amounts specified in Exhibit 7 shall be in effect July 1, 2007 through December 31, 2008.
Initial Amounts. NCPA shall notify each Participant three (3) months prior to the expected initial delivery of Energy of the initial security amounts which Participant shall be obligated to pay for under this Agreement. Each Participant shall ensure that sufficient funds are on deposit in the Security Account equal to the highest (3) months of the immediately following (12) months of estimated Project Costs; provided, however, that such deposit may be satisfied, in whole or in part, either in cash, by posting an irrevocable standby letter of credit or furnishing any other negotiable instrument satisfactory to NCPA’s General Manager, exercising his or her reasonable discretion. Such Security Account will be separate and apart from any other security account held by NCPA on behalf of a Participant.
Initial Amounts. The Borrowing Base in effect on the date of this Agreement is hereby determined to be $85,000,000, and the Threshold Amount in effect on the date of this Agreement is hereby determined to be $70,000,000. Except as otherwise provided herein, the Borrowing Base and the Threshold Amount shall remain at the respective amounts determined pursuant to the first sentence of this Section 2.09(a) until the date on which the Agent shall next establish the Borrowing Base and Threshold Amount (prior to the first anniversary of the Closing Date) as provided in Section 2.09(b) hereof or Section 2.09(c) hereof.
Initial Amounts. Prior to NCPA providing Scheduling Coordination Services, a Participant shall deposit into the Balancing Account held by NCPA an amount equal to the highest three (3) months of estimated CAISO invoices for the succeeding twelve (12) months; provided, however, that such deposit may be satisfied in whole or in part either in cash or through a clean, irrevocable letter of credit satisfactory to the General Manager. NCPA shall maintain a detailed accounting of the share of each Participant’s deposit in the Balancing Account.
Initial Amounts. Prior to subscribing to a Contract Transaction a Participant shall insure that sufficient Security Deposit funds have been deposited with and are held by NCPA equal to the highest three
