Liability Following Application of Collateral. Notwithstanding SCE’s use of cash collateral or receipt of cash proceeds of a drawing under the Letter of Credit, Seller shall remain liable for: Any failure to provide or maintain the required Project Security if, following such application, the remaining Project Security is less than the amount required hereunder (including failure to replenish cash collateral or a Letter of Credit to the full Project Security amount in the event that SCE uses the cash collateral or draws against the Letter of Credit for any reason other than to satisfy a Termination Payment); or Any amounts owing to SCE that remain unpaid after the application of the amounts drawn by SCE.
Appears in 4 contracts
Samples: Renewable Power Purchase Agreement, Renewable Power Purchase Agreement, Purchase and Sale Agreement
