Performance Security Deposit. (i) the Company shall deliver to BPDB the Performance Security Deposit before signing of PPA. (ii) The Performance Security Deposit shall terminate upon the delivery to BPDB of the Operations Security Deposit pursuant to Section 7.2(c) and any undrawn portion of the Performance Security Deposit shall be released and returned to the Company by no later than ten (10) Business Days following the delivery to BPDB of the Operations Security Deposit pursuant to Section 7.2(c). (iii) The Performance Security Deposit will be encashed by BPDB to satisfy any obligation of the Company hereunder while the Performance Security Deposit is then in effect. The Performance Security shall be forfeited without any notice, demand, or other legal process upon termination of the PPA due to Company Event of Default.
Appears in 4 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
