Common use of Performance Assurance Requirement Clause in Contracts

Performance Assurance Requirement. The amount of Performance Assurance to be posted with respect to any Product Order in effect shall be equal to the sum of the Collateral Requirement across all Designated Systems included in such Product Order. The total amount of Performance Assurance to be posted under this Agreement shall be equal to the sum of the Collateral Requirement across all Designated Systems included in this Agreement (“Performance Assurance Requirement”). The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement. Notwithstanding the foregoing, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project in the quarterly payment adjustments pursuant to Sections 2.6(a)-(b), Seller shall not be required to post additional Performance Assurance Amount at the time of such payment adjustment(s). Additionally, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project based on information in Seller’s ABP Part I Application and ABP Part II Application for such Designated System, Seller shall not be required to post additional Performance Assurance Amount at the time of Energization.

Performance Assurance Requirement. The amount of Performance Assurance to be posted with respect to any Product Order in effect shall be equal to the sum of the Collateral Requirement across all Designated Systems included in such Product Order. The total amount of Performance Assurance to be posted under this Agreement shall be equal to the sum of the Collateral Requirement across all Designated Systems included in this Agreement (“Performance Assurance Requirement”). The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement. Notwithstanding the foregoing, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project in the quarterly payment adjustments pursuant to Sections 2.6(a)-(b-(b), Seller shall not be required to post additional Performance Assurance Amount at the time of such payment adjustment(s). Additionally, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project based on information in Seller’s ABP Part I Application and ABP Part II Application for such Designated System, Seller shall not be required to post additional Performance Assurance Amount at the time of Energization.