Posting Margin Collateral and Return of Excess Collateral. If at any time and from time to time during the Delivery Period, Margin exists with respect to the XXXX Supplier, then the Companies on any Business Day may make a Margin Call of such XXXX Supplier; provided however that the Companies may not make a Margin Call unless the Margin exceeds the Minimum Margin Threshold. Upon receipt of a Margin Call, the applicable XXXX Supplier shall provide to the Companies Margin Collateral, which shall comprise of cash, a Letter of Credit, or First Mortgage Bonds delivered or pledged as provided for in Section 6.9(c) below. The Margin Collateral shall be in an amount equal to the Margin less the amount of any Margin Collateral already posted by the XXXX Supplier in which the Companies have a first priority, perfected security interest to secure the obligations of the XXXX Supplier under this Agreement and any Other XXXX Supply Agreement. If the XXXX Supplier receives a Margin Call from the Companies by 1:00 p.m. prevailing Eastern Time on a Business Day, then such XXXX Supplier shall post Margin Collateral the following Business Day if posting cash and the second Business Day following the Margin Call if posting a Letter of Credit or, with respect to Surplus Margin only, delivering or pledging First Mortgage Bonds (as defined in Section 6.9(c) below), unless in each case the Companies agree in writing to extend the period to provide Margin Collateral. If the XXXX Supplier receives a Margin Call after 1:00 p.m. prevailing Eastern Time on a Business Day, whether posting cash, a Letter of Credit, or First Mortgage Bond delivered or pledged as provided for in Section 6.9(c) below, then the XXXX Supplier must post Margin Collateral on the second Business Day following the Margin Call unless the Companies agree in writing to extend the period to provide Margin Collateral. The Companies will not unreasonably deny a request for a one-day extension of such period. Margin Collateral being held by the Companies not needed to satisfy the Margin (“Excess Collateral”), will be returned to the XXXX Supplier upon receipt of a written request from the XXXX Supplier; provided, however, that the XXXX Supplier may not request Excess Collateral until such Excess Collateral exceeds the Minimum Margin Threshold. If the XXXX Supplier posted cash and notice is received by 1:00 p.m. prevailing Eastern Time on a Business Day, the Excess Collateral will be returned by the following Business Day and if the XXXX Supplier posted cash and notice is recei...
Posting Margin Collateral and Return of Excess Collateral. If at any time and from time to time during the Delivery Period, Margin exists with respect to the XXXX Supplier, then Duke Energy Ohio on any Business Day may make a Margin Call of the XXXX Supplier; provided however that Duke Energy Ohio may not make a Margin Call unless the Margin exceeds the Minimum Margin Threshold. Upon receipt of a Margin Call, the XXXX Supplier shall provide to Duke Energy Ohio Margin Collateral, which shall comprise of cash or a Letter of Credit. The Margin Collateral shall be in the amount equal to the Margin less the amount of any Margin Collateral already posted by the XXXX Supplier in which Duke Energy Ohio has a first priority, perfected security interest to secure the obligations of the XXXX Supplier under this Agreement and any Other XXXX Supply Agreement. For the avoidance of doubt, any ICR Collateral posted pursuant to Section 5.4 shall not constitute Margin Collateral. If the XXXX Supplier receives a Margin Call from Duke Energy Ohio by 1:00 p.m. prevailing Eastern Time on a Business Day, then the XXXX Supplier shall post Margin Collateral the following Business Day if posting cash and the second Business Day following the Margin Call if posting a Letter of Credit, unless in each case Duke Energy Ohio agrees in writing to extend the period to provide Margin Collateral. If the XXXX Supplier receives a Margin Call after 1:00
