Common use of Operations Security Deposit Clause in Contracts

Operations Security Deposit. (i) Not later than thirty (30) Days after the Commercial Operations Date, the Company shall provide to BPDB a security deposit (the “Operations Security Deposit”) in an amount equal to two (2) Months of Capacity Payments to ensure the proper operation and maintenance of the Facility. (ii) Upon and following the delivery of the Operations Security Deposit, the Company shall maintain the Operations Security Deposit at the designated level at all times during the Term; provided that the Company may have thirty (30) Days to replenish the Operations Security Deposit so as to return it to the required level in the event that BPDB retains or collects funds from the Operations Security Deposit. (iii) The Operations Security Deposit shall consist of an unconditional irrevocable bank guarantee issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh. (iv) The Operations Security Deposit may be applied to: (A) the payment of liquidated damages and accrued interest thereon in accordance with Section 8.7; and (B) the payment of other damages, interest or other amounts that the Company shall be required to pay to BPDB hereunder, less (in either case) any amount disputed by the Company; provided that BPDB may, at its sole option, demand payment of any and all amounts due and payable hereunder directly from the Company, deduct such amounts from the Operations Security Deposit or offset all or a portion of such amounts against any payments due to the Company pursuant to Section 13, or any combination of the foregoing, and apply the Operations Security Deposit to any amount thereof remaining.

Operations Security Deposit. (i) Not later than thirty 30 (30thirty) Days after the Commercial Operations Date, the Company shall provide to BPDB a security deposit (the “Operations Security Deposit”) in an amount equal to two 2 (2two) Months Month of Capacity Payments tariff payment at a monthly 6753 MWh Energy rate to ensure the proper operation and maintenance of the FacilityProject. (ii) Upon and following the delivery of the Operations Security Deposit, the Company shall maintain the Operations Security Deposit at the designated level at all times during the Term; provided that the Company may have thirty 15 (30fifteen) Days days to replenish the Operations Security Deposit so as to return it to the required level in the event that BPDB retains or collects funds from the Operations Security Deposit. (iii) The Operations Security Deposit shall consist of an unconditional irrevocable bank guarantee issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh. (iv) The Operations Security Deposit may shall be applied to: (A) to the payment of liquidated damages (penalty) in case of section 8.3; and accrued interest thereon in accordance with Section 8.7; and (B) the payment of other damages, interest or other amounts that the Company shall be required to pay to BPDB hereunder, less (in either case) any amount disputed by the Company; provided that BPDB mayin the case of the amounts described above, at its sole option, demand payment of any and all amounts due and payable hereunder directly from the Company, deduct such amounts from the Operations Security Deposit or offset all or a portion of such amounts against any if there are insufficient payments due to the Company pursuant to Section 13, or any combination of the foregoing, against which BPDB can offset such amounts and apply if the Operations Security Deposit is insufficient to any satisfy such amounts, then The Company shall pay to BPDB on demand the unsatisfied amounts within 15 (fifteen) Days, otherwise this amount thereof remainingshall be deducted from the Company’s monthly invoice.

Operations Security Deposit. (i) Not later than thirty (30) Days after the Commercial Operations Date, the Company shall provide to BPDB a security deposit (the “Operations Security Deposit”) in an amount equal to two (2) Months of Tariff Payment based on 80% plant factor of Contracted Capacity Payments to ensure the proper operation and maintenance of the Facility. (ii) Upon and following the delivery of the Operations Security Deposit, the Company shall maintain the Operations Security Deposit at the designated level at all times during the Term; provided that the Company may have thirty (30) Days to replenish the Operations Security Deposit so as to return it to the required level in the event that BPDB retains or collects funds from the Operations Security Deposit. (iii) The Operations Security Deposit shall consist of an unconditional irrevocable bank guarantee issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh. (iv) The Operations Security Deposit may be applied to: (A) the payment of liquidated damages and accrued interest thereon in accordance with Section 8.7; and (B) the payment of other damages, interest or other amounts that the Company shall be required to pay to BPDB hereunder, less (in either case) any amount disputed by the Company; provided that BPDB may, at its sole option, demand payment of any and all amounts due and payable hereunder directly from the Company, deduct such amounts from the Operations Security Deposit or offset all or a portion of such amounts against any payments due to the Company pursuant to Section 13, or any combination of the foregoing, and apply the Operations Security Deposit to any amount thereof remaining.

Operations Security Deposit. (i) Not later than thirty (30) Days after the Commercial Operations Supply Commencement Date, the Company shall provide to BPDB a security deposit (the “Operations Security Deposit”) in an amount equal to two six (26) Months of Capacity Payments based on Contracted Capacity to ensure the proper operation and maintenance supply & delivery of the Facilityelectric power to BPDB. (ii) Upon and following the delivery of the Operations Security Deposit, the Company shall maintain the Operations Security Deposit at the designated level at all times during the Term; provided that the Company may have thirty (30) Days to replenish the Operations Security Deposit so as to return it to the required level in the event that BPDB retains or collects funds from the Operations Security Deposit. (iii) The Operations Security Deposit shall consist of an unconditional irrevocable bank guarantee issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh. (iv) The Operations Security Deposit may be applied to: (A) the payment of liquidated damages and accrued interest thereon in accordance with Section 8.77.3; and (B) the payment of other damages, interest or other amounts that the Company shall be required to pay to BPDB hereunder, less (in either case) any amount disputed by the Company; provided that BPDB may, at its sole option, demand payment of any and all amounts due and payable hereunder directly from the Company, deduct such amounts from the Operations Security Deposit or offset all or a portion of such amounts against any payments due to the Company pursuant to Section 1312, or any combination of the foregoing, and apply the Operations Security Deposit to any amount thereof remaining.

Operations Security Deposit. (i) Not later than thirty (30) Days after the Commercial Operations Date, the Company shall provide to BPDB a security deposit (the “Operations Security Deposit”) in an amount equal to two 1 (2one) Months Month of Capacity Payments tariff payment at a monthly 85212 kWh Energy rate to ensure the proper operation and maintenance of the FacilityProject. (ii) Upon and following the delivery of the Operations Security Deposit, the Company shall maintain the Operations Security Deposit at the designated level at all times during the Term; provided that the Company may have thirty fifteen (3015) Days to replenish the Operations Security Deposit so as to return it to the required level in the event that BPDB Entity retains or collects funds from the Operations Security Deposit. (iii) The Operations Security Deposit shall consist of an unconditional irrevocable bank guarantee issued by a scheduled bank in Bangladesh or by a foreign bank which has been authenticated by a scheduled bank in Bangladesh and shall by its terms be encashable at a bank in Dhaka, Bangladesh. (iv) The Operations Security Deposit may shall be applied to: (A) the payment of liquidated damages and accrued interest thereon (penalty) in accordance with Section 8.7case of section 8.3; and (B) the payment of other damages, interest or other amounts that the Company shall be required to pay to BPDB hereunder, Entity. less (in either case) any amount disputed by the Company; provided that in the case of the amounts described in sub-paragraph (A) and (B) above, if there are insufficient payments due to The Company against which BPDB may, at its sole option, demand payment of any and all amounts due and payable hereunder directly from the Company, deduct can offset such amounts from and if the Operations Security Deposit or offset all or a portion of is insufficient to satisfy such amounts, then The Company shall pay to BPDB on demand the unsatisfied amounts against any payments due to within 15 (fifteen) Days, otherwise this amount shall be deducted from the Company pursuant to Section 13, or any combination of the foregoing, and apply the Operations Security Deposit to any amount thereof remainingCompany’s monthly invoice.