Common use of Performance Security Failure Clause in Contracts

Performance Security Failure. (i) The failure of Seller to furnish Performance Security by the time set forth in Section 5.6, or the failure of Seller to maintain or replace the Performance Security in compliance with Section 5.6, (ii) the failure of any of the Performance Security to be in full force and effect in accordance with Section 5.6 or (iii) any Person contests the validity or enforceability of the Performance Security or the letter of credit provider denies that it has any liability in respect of any Performance Security and such Performance Security is not replaced in compliance with Section 5.6.

Performance Security Failure. (i) The failure of Seller to furnish Performance Security by the time times set forth in Section 5.65.7, or the failure of Seller to maintain or replace the Performance Security in compliance with Section 5.65.7, (ii) the failure of any of the Performance Security to be in full force and effect in accordance with Section 5.6 5.7 or (iii) the issuer of any Person Performance Security provided by Seller hereunder contests the validity or enforceability of the Performance Security or the letter of credit provider denies that it has any liability in respect of any Performance Security and such Performance Security is not replaced in compliance with Section 5.65.7.