Interest Payments on Cash Deposits. (a) SCE shall make monthly Simple Interest Payments, calculated using the Federal Funds Effective Rate, to Seller on cash amounts posted for the: (i) Development Security; and (ii) Performance Assurance. (b) Upon receipt of a monthly invoice (provided by Seller to SCE’s Manager of Credit and Collateral as set forth in Exhibit C) that sets forth the calculation of the Simple Interest Payment amount due, SCE shall make payment thereof by the third (3rd) Local Business Day of the first month after the last month to which the invoice relates so long as such date is after the day on which such invoice is received; provided, (i) No Event of Default has occurred and is continuing with respect to Seller; and (ii) No Early Termination Date for which any unsatisfied payment obligation of Seller exists, has occurred or has been designated as the result of an Event of Default by Seller. (c) On or after the occurrence of an Event of Default by Seller or an Early Termination Date as a result of an Event of Default by Seller, SCE will retain any such Simple Interest Payment amount as an additional Development Security amount or a Performance Assurance amount hereunder until: (i) In the case of an Early Termination Date, the obligations of Seller under this Agreement have been satisfied; or (ii) In the case of an Event of Default, for so long as such Event of Default is continuing. Article Four -- §4.06 SCE’s Obligations
Appears in 2 contracts
Samples: Renewable Power Purchase and Sale Agreement, Renewable Power Purchase and Sale Agreement
Interest Payments on Cash Deposits. (a) SCE shall make monthly Simple Interest Payments, calculated using the Federal Funds Effective Rate, to Seller on cash amounts posted for the:
(i) Development Security; and
(ii) Performance Assurance.
(b) Upon receipt of a monthly invoice (provided by Seller to SCE’s the SCE Manager of Credit and Collateral as set forth in Exhibit C) that sets forth the calculation of the Simple Interest Payment amount due, SCE shall make payment thereof by the third (3rd) Local Business Day of the first month after the last month to which the invoice relates so long as such date is after the day on which such invoice is received; providedprovided that,
(i) No Event of Default has occurred and is continuing with respect to Seller; and
(ii) No Early Termination Date for which any unsatisfied payment obligation of Seller exists, has occurred or has been designated as the result of an Event of Default by Seller.
(c) On or after the occurrence of an Event of Default by Seller or an Early Termination Date as a result of an Event of Default by Seller, SCE will shall retain any such Simple Interest Payment amount as an additional Development Security amount or a Performance Assurance amount hereunder until:
(i) In the case of an Early Termination Date, the obligations of Seller under this Agreement have been satisfied; or
(ii) In the case of an Event of Default, for so long as such Event of Default is continuing. Article Four -- §4.06 SCE’s Obligations.
Appears in 2 contracts
Samples: Renewable Power Purchase and Sale Agreement, Renewable Power Purchase and Sale Agreement
Interest Payments on Cash Deposits. (a) SCE shall make monthly Simple Interest Payments, calculated using the Federal Funds Effective Rate, to Seller on cash amounts posted for the:
(i) Development Security; andand Article Four – §4.03 SCE’s Obligations
(ii) Performance Assurance.
(b) Upon receipt of a monthly invoice (provided by Seller to SCE’s Manager of Credit and Collateral as set forth in Exhibit C) that sets forth the calculation of the Simple Interest Payment amount due, SCE shall make payment thereof by the third (3rd) Local Business Day of the first month after the last month to which the invoice relates so long as such date is after the day on which such invoice is received; provided,
(i) No Event of Default has occurred and is continuing with respect to Seller; and
(ii) No Early Termination Date for which any unsatisfied payment obligation of Seller exists, has occurred or has been designated as the result of an Event of Default by Seller.
(c) On or after the occurrence of an Event of Default by Seller or an Early Termination Date as a result of an Event of Default by Seller, SCE will retain any such Simple Interest Payment amount as an additional Development Security amount or a Performance Assurance amount hereunder until:
(i) In the case of an Early Termination Date, the obligations of Seller under this Agreement have been satisfied; or
(ii) In the case of an Event of Default, for so long as such Event of Default is continuing. Article Four -- – §4.06 SCE’s Obligations
Appears in 2 contracts
Samples: Renewable Power Purchase Agreement, Renewable Power Purchase Agreement
Interest Payments on Cash Deposits. The contents of this document are subject to restrictions on disclosure as set forth herein.
(a) SCE shall make monthly Simple Interest Payments, calculated using the Federal Funds Effective Rate, to Seller on cash amounts posted for the:
(i) Development SecurityFee; and
(ii) Performance Assurance.
(b) Upon receipt of a monthly invoice (provided by Seller to SCE’s the SCE Manager of Credit and Collateral as set forth in Exhibit CCollateral) that sets forth the calculation of the Simple Interest Payment amount due, SCE shall make payment thereof by the third (3rd) Local Business business Day of the first month after the last month to which the invoice relates so long as such date is after the day on which such invoice is received; providedprovided that,
(i) No Event of Default has occurred and is continuing with respect to Seller; and
(ii) No Early Termination Date for which any unsatisfied payment obligation of Seller exists, has occurred or has been designated as the result of an Event of Default by Seller.
(c) On or after the occurrence of an Event of Default by Seller or an Early Termination Date as a result of an Event of Default by Seller, SCE will shall retain any such Simple Interest Payment amount as an additional Development Security Fee amount or a Performance Assurance amount hereunder until:
(i) In the case of an Early Termination Date, the obligations of Seller under this Agreement have been satisfied; or
(ii) In the case of an Event of Default, for so long as such Event of Default is continuing. Article Four -- §4.06 SCE’s Obligations.
Appears in 1 contract
Samples: Renewable Power Purchase and Sale Agreement (GreenHunter Energy, Inc.)
Interest Payments on Cash Deposits.
(a) SCE shall make monthly Simple Interest Payments, calculated using the Federal Funds Effective Rate, to Seller on cash amounts posted for the:
(i) Development Security; and
(ii) Performance Assurance.Assurance.
(b) Upon receipt of a monthly invoice (provided by Seller to SCE’s Manager of Credit and Collateral as set forth in Exhibit C) that sets forth the calculation of the Simple Interest Payment amount due, SCE shall make payment thereof by the third (3rd) Local Business Day of the first month after the last month to which the invoice relates so long as such date is after the day on which such invoice is received; provided,
(i) No Event of Default has occurred and is continuing with respect to Seller; and
(ii) No Early Termination Date for which any unsatisfied payment obligation of Seller exists, has occurred or has been designated as the result of an Event of Default by Seller.
(c) On or after the occurrence of an Event of Default by Seller or an Early Termination Date as a result of an Event of Default by Seller, SCE will retain any such Simple Interest Payment amount as an additional Development Security amount or a Performance Assurance amount hereunder until:
(i) In the case of an Early Termination Date, the obligations of Seller under this Agreement have been satisfied; or
(ii) In the case of an Event of Default, for so long as such Event of Default is continuing. Article Four -- §4.06 SCE’s Obligations.
Appears in 1 contract
Interest Payments on Cash Deposits.
(a) SCE shall make monthly Simple Interest Payments, calculated using the Federal Funds Effective Rate, to Seller on cash amounts posted for the:
(i) Development Security; and
(ii) Performance Assurance.
(b) Upon receipt of a monthly invoice (provided by Seller to SCE’s Manager of Credit and Collateral as set forth in Exhibit C) that sets forth the calculation of the Simple Interest Payment amount due, SCE shall make payment thereof by the third (3rd) Local Business Day of the first month after the last month to which the invoice relates so long as such date is after the day on which such invoice is received; provided,
(i) No Event of Default has occurred and is continuing with respect to Seller; and
(ii) No Early Termination Date for which any unsatisfied payment obligation of Seller exists, has occurred or has been designated as the result of an Event of Default by Seller.
(c) On or after the occurrence of an Event of Default by Seller or an Early Termination Date as a result of an Event of Default by Seller, SCE will retain any such Simple Interest Payment amount as an additional Development Security amount or a Performance Assurance amount hereunder until:
(i) In the case of an Early Termination Date, the obligations of Seller under this Agreement have been satisfied; or
(ii) In the case of an Event of Default, for so long as such Event of Default is continuing. Article Four -- §4.06 SCE’s Obligations.
Appears in 1 contract
Interest Payments on Cash Deposits. (a) SCE shall make monthly Simple Interest Payments, calculated using the Federal Funds Effective Rate, to Seller on cash amounts posted for the:
(i) Development Security; and
(ii) Performance Assurance.
(b) Upon receipt of a monthly invoice (provided by Seller to SCE’s the SCE Manager of Credit and Collateral as set forth in Exhibit C) that sets forth the calculation of the Simple Interest Payment amount due, SCE shall make payment thereof by the third (3rd) Local Business Day of the first month after the last month to which the invoice relates so long as such date is after the day on which such invoice is received; providedprovided that,
(i) No Event of Default has occurred and is continuing with respect to Seller; and
(ii) No Early Termination Date for which any unsatisfied payment obligation of Seller exists, has occurred or has been designated as the result of an Event of Default by Seller.
(c) On or after the occurrence of an Event of Default by Seller or an Early Termination Date as a result of an Event of Default by Seller, SCE will retain any such Simple Interest Payment amount as an additional Development Security amount or a Performance Assurance amount hereunder until:
(i) In the case of an Early Termination Date, the obligations of Seller under this Agreement have been satisfied; or
(ii) In the case of an Event of Default, for so long as such Event of Default is continuing. Article Four -- §4.06 SCE’s Obligations.
Appears in 1 contract
Interest Payments on Cash Deposits. (a) SCE shall make monthly Simple Interest Payments, calculated using the Federal Funds Effective Rate, to Seller on cash amounts posted for the:
(i) Development Security; and
(ii) Performance Assurance.
(b) Upon receipt of a monthly invoice (provided by Seller to SCE’s Manager of Credit and Collateral as set forth in Exhibit C) that sets forth the calculation of the Simple Interest Payment amount due, SCE shall make payment thereof by the third (3rd) Local Business Day of the first month after the last month to which the invoice relates so long as such date is after the day on which such invoice is received; provided,
(i) No Event of Default has occurred and is continuing with respect to Seller; and
(ii) No Early Termination Date for which any unsatisfied payment obligation of Seller exists, has occurred or has been designated as the result of an Event of Default by Seller.
(c) On or after the occurrence of an Event of Default by Seller or an Early Termination Date as a result of an Event of Default by Seller, SCE will retain any such Simple Interest Payment amount as an additional Development Security amount or a Performance Assurance amount hereunder until:
(i) In the case of an Early Termination Date, the obligations of Seller under this Agreement have been satisfied; or
(ii) In the case of an Event of Default, for so long as such Event of Default is continuing. Article Four -- §4.06 4.07 SCE’s Obligations
Appears in 1 contract
Interest Payments on Cash Deposits. (a) SCE shall make monthly Simple Interest Payments, calculated using the Federal Funds Effective Rate, to Seller on cash amounts posted for the:
(i) Development Security; and
(ii) Performance Assurance.
(b) Upon receipt of a monthly invoice (provided by Seller to SCE’s 's Manager of Credit and Collateral as set forth in Exhibit C) that sets forth the calculation of the Simple Interest Payment amount due, SCE shall make payment thereof by the third (3rd) Local Business Day of the first month after the last month to which the invoice relates so long as such date is after the day on which such invoice is received; provided,
(i) No Event of Default has occurred and is continuing with respect to Seller; and
(ii) No Early Termination Date for which any unsatisfied payment obligation of Seller exists, has occurred or has been designated as the result of an Event of Default by Seller.
(c) On or after the occurrence of an Event of Default by Seller or an Early Termination Date as a result of an Event of Default by Seller, SCE will retain any such Simple Interest Payment amount as an additional Development Security amount or a Performance Assurance amount hereunder until:
(i) In the case of an Early Termination Date, the obligations of Seller under this Agreement have been satisfied; or
(ii) In the case of an Event of Default, for so long as such Event of Default is continuing. Article Four -- §4.06 4.07 SCE’s 's Obligations
Appears in 1 contract
