Common use of Posting Margin Collateral and Return of Excess Collateral Clause in Contracts

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 received by the Companies after 1:00

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

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

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 AEP Ohio on any Business Day may make a Margin Call of such the XXXX Supplier; provided however that the Companies AEP Ohio 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 AEP Ohio Margin Collateral, which shall comprise of cash, cash or 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 the amount equal to the Margin less the amount of any Margin Collateral already posted by the XXXX Supplier in which the Companies have AEP Ohio has a first priority, perfected security interest to secure the obligations of the XXXX Supplier under this Agreement and any Other XXXX Energy 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 the Companies AEP Ohio by 1:00 p.m. prevailing Eastern Time on a Business Day, then such 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 or, with respect to Surplus Margin only, delivering or pledging First Mortgage Bonds (as defined in Section 6.9(c) below)Credit, unless in each case the Companies agree AEP Ohio agrees 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, cash or 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 AEP Ohio agrees in writing to extend the period to provide Margin Collateral. The Companies AEP Ohio will not unreasonably deny a request for a one-day extension of such period. Margin Collateral being held by the Companies AEP Ohio that is 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 AEP Ohio 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 received by AEP Ohio after 1:00 p.m. prevailing Eastern Time on a Business Day, the Companies after 1:00Excess Collateral will be returned by the second Business Day following the date of notice. If the XXXX Supplier posted a Letter of Credit, the Excess Collateral shall be returned on the next Business Day following the Business Day on which the amendment to the Letter of Credit is received from the issuing bank, unless in each case the XXXX Supplier agrees in writing to extend such period for returning the Excess Collateral. The XXXX Supplier will not unreasonably deny a request for a one-day extension of the period for returning the Excess Collateral.

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 an SSO Supplier, then the Companies on any Business Day may make a Margin Call of such XXXX SSO 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 SSO 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(c6.7(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 SSO Supplier in which the Companies have a first priority, perfected security interest to secure the obligations of the XXXX SSO Supplier under this Agreement and any Other XXXX SSO Supply Agreement. If the XXXX an SSO Supplier receives a Margin Call from the Companies by 1:00 p.m. prevailing Eastern Time on a Business Day, then such XXXX SSO 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(c6.7(c) below), unless in each case the Companies agree in writing to extend the period to provide Margin Collateral. If the XXXX SSO 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(c6.7(c) below, then the XXXX SSO 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 SSO Supplier upon receipt of a written request from the XXXX SSO Supplier; provided, however, that the XXXX SSO Supplier may not request Excess Collateral until such Excess Collateral exceeds the Minimum Margin Threshold. If the XXXX SSO 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 SSO Supplier posted cash and notice is received by the Companies after 1:001:00 p.m. prevailing Eastern Time on a Business Day, the Excess Collateral will be returned by the second Business Day following the date of notice. If the SSO Supplier posted a Letter of Credit, the Excess Collateral shall be returned on the next Business Day following the Business Day on which the amendment to the Letter of Credit is received from the issuing bank, unless in each case the SSO Supplier agrees in writing to extend such period for returning the Excess Collateral. The SSO Supplier will not unreasonably deny a request for a one-day extension of the period for returning the Excess Collateral. If the SSO Supplier is otherwise entitled to deliver or pledge its or its Guarantor’s First Mortgage Bonds to cover Surplus Margin, but cannot do so within the second Business Day time period or any extension thereof, the SSO Supplier may initially post cash or a letter of credit to satisfy such obligation, which cash or letter of credit shall be returned by the Companies upon the subsequent delivery or pledge of its or its Guarantor’s First Mortgage Bonds in accordance with the provisions of Section 6.7(c) hereof.

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 received by the Companies after 1:00.

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 an SSO Supplier, then the Companies on any Business Day may make a Margin Call of such XXXX SSO 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 SSO 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 SSO Supplier in which the Companies have a first priority, perfected security interest to secure the obligations of the XXXX SSO Supplier under this Agreement and any Other XXXX SSO Supply Agreement. For the avoidance of doubt, any ICR Collateral posted pursuant to Section 6.4 shall not constitute Margin Collateral. If the XXXX an SSO Supplier receives a Margin Call from the Companies by 1:00 p.m. prevailing Eastern Time on a Business Day, then such XXXX SSO 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 SSO 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 SSO 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 SSO Supplier upon receipt of a written request from the XXXX SSO Supplier; provided, however, that the XXXX SSO Supplier may not request Excess Collateral until such Excess Collateral exceeds the Minimum Margin Threshold. If the XXXX SSO 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 SSO Supplier posted cash and notice is received by the Companies after 1:001:00 p.m. prevailing Eastern Time on a Business Day, the Excess Collateral will be returned by the second Business Day following the date of notice. If the SSO Supplier posted a Letter of Credit, the Excess Collateral shall be returned on the next Business Day following the Business Day on which the amendment to the Letter of Credit is received from the issuing bank, unless in each case the SSO Supplier agrees in writing to extend such period for returning the Excess Collateral. The SSO Supplier will not unreasonably deny a request for a one-day extension of the period for returning the Excess Collateral. If the SSO Supplier is otherwise entitled to deliver or pledge its or its Guarantor’s First Mortgage Bonds to cover Surplus Margin, but cannot do so within the second Business Day time period or any extension thereof, the SSO Supplier may initially post cash or a letter of credit to satisfy such obligation, which cash or letter of credit shall be returned by the Companies upon the subsequent delivery or pledge of its or its Guarantor’s First Mortgage Bonds in accordance with the provisions of Section 6.9(c) hereof.

Posting Margin Collateral and Return of Excess Collateral. (a) If at any time and from time to time during the Delivery Period, Margin exists with respect to the XXXX an SSO Supplier, then the Companies on any Business Day may make a Margin Call of such XXXX SSO 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 SSO 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 SSO Supplier in which the Companies have a first priority, perfected security interest to secure the obligations of the XXXX SSO Supplier under this Agreement and any Other XXXX SSO Supply Agreement. For the avoidance of doubt, any ICR Collateral posted pursuant to Section 6.4 shall not constitute Margin Collateral. If the XXXX an SSO Supplier receives a Margin Call from the Companies by 1:00 p.m. prevailing Eastern Time on a Business Day, then such XXXX SSO 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 SSO 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 SSO 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 SSO Supplier upon receipt of a written request from the XXXX SSO Supplier; provided, however, that the XXXX SSO Supplier may not request Excess Collateral until such Excess Collateral exceeds the Minimum Margin Threshold. If the XXXX SSO 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 SSO Supplier posted cash and notice is received by the Companies after 1:001:00 p.m. prevailing Eastern Time on a Business Day, the Excess Collateral will be returned by the second Business Day following the date of notice. If the SSO Supplier posted a Letter of Credit, the Excess Collateral shall be returned on the next Business Day following the Business Day on which the amendment to the Letter of Credit is received from the issuing bank, unless in each case the SSO Supplier agrees in writing to extend such period for returning the Excess Collateral. The SSO Supplier will not unreasonably deny a request for a one-day extension of the period for returning the Excess Collateral. If the SSO Supplier is otherwise entitled to deliver or pledge its or its Guarantor’s First Mortgage Bonds to cover Surplus Margin, but cannot do so within the second Business Day time period or any extension thereof, the SSO Supplier may initially post cash or a letter of credit to satisfy such obligation, which cash or letter of credit shall be returned by the Companies upon the subsequent delivery or pledge of its or its Guarantor’s First Mortgage Bonds in accordance with the provisions of Section 6.9(c) hereof.

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 an SSO Supplier, then the Companies on any Business Day may make a Margin Call of such XXXX SSO 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 SSO 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(c6.79(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 SSO Supplier in which the Companies have a first priority, perfected security interest to secure the obligations of the XXXX SSO Supplier under this Agreement and any Other XXXX SSO Supply Agreement. For the avoidance of doubt, any ICR Collateral posted pursuant to Section 6.4 shall not constitute Margin Collateral. If the XXXX an SSO Supplier receives a Margin Call from the Companies by 1:00 p.m. prevailing Eastern Time on a Business Day, then such XXXX SSO 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(c6.79(c) below), unless in each case the Companies agree in writing to extend the period to provide Margin Collateral. If the XXXX SSO 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(c6.79(c) below, then the XXXX SSO 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 SSO Supplier upon receipt of a written request from the XXXX SSO Supplier; provided, however, that the XXXX SSO Supplier may not request Excess Collateral until such Excess Collateral exceeds the Minimum Margin Threshold. If the XXXX SSO 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 SSO Supplier posted cash and notice is received by the Companies after 1:001:00 p.m. prevailing Eastern Time on a Business Day, the Excess Collateral will be returned by the second Business Day following the date of notice. If the SSO Supplier posted a Letter of Credit, the Excess Collateral shall be returned on the next Business Day following the Business Day on which the amendment to the Letter of Credit is received from the issuing bank, unless in each case the SSO Supplier agrees in writing to extend such period for returning the Excess Collateral. The SSO Supplier will not unreasonably deny a request for a one-day extension of the period for returning the Excess Collateral. If the SSO Supplier is otherwise entitled to deliver or pledge its or its Guarantor’s First Mortgage Bonds to cover Surplus Margin, but cannot do so within the second Business Day time period or any extension thereof, the SSO Supplier may initially post cash or a letter of credit to satisfy such obligation, which cash or letter of credit shall be returned by the Companies upon the subsequent delivery or pledge of its or its Guarantor’s First Mortgage Bonds in accordance with the provisions of Section 6.79(c) hereof.

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 DP&L on any Business Day may make a Margin Call of such XXXX Supplier; provided however that the Companies DP&L 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 DP&L Margin Collateral, which shall comprise of cash, cash or 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 DP&L has 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 DP&L 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)Credit, unless in each case the Companies agree DP&L agrees 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 cash ora 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 DP&L agrees in writing to extend the period to provide Margin Collateral. The Companies DP&L will not unreasonably deny a request for a one-day extension of such period. Margin Collateral being held by the Companies DP&L 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 received by DP&L after 1:00 p.m. prevailing Eastern Time on a Business Day, the Companies after 1:00Excess Collateral will be returned by the second Business Day following the date of notice. If the XXXX Supplier posted a Letter of Credit, the Excess Collateral shall be returned on the next Business Day following the Business Day on which the amendment to the Letter of Credit is received from the issuing bank, unless in each case the XXXX Supplier agrees in writing to extend such period for returning the Excess Collateral. The XXXX Supplier will not unreasonably deny a request for a one-day extension of the period for returning the Excess Collateral.

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 Duke Energy Ohio on any Business Day may make a Margin Call of such the XXXX Supplier; provided however that the Companies Duke Energy Ohio 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 Duke Energy Ohio Margin Collateral, which shall comprise of cash, cash or 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 the amount equal to the Margin less the amount of any Margin Collateral already posted by the XXXX Supplier in which the Companies have 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 the Companies Duke Energy Ohio by 1:00 p.m. prevailing Eastern Time on a Business Day, then such 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 or, with respect to Surplus Margin only, delivering or pledging First Mortgage Bonds (as defined in Section 6.9(c) below)Credit, unless in each case the Companies agree 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 p.m. prevailing Eastern Time on a Business Day, whether posting cash, cash or 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 Duke Energy Ohio agrees in writing to extend the period to provide Margin Collateral. The Companies Duke Energy Ohio will not unreasonably deny a request for a one-day extension of such period. Margin Collateral being held by the Companies Duke Energy Ohio that is 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 Duke Energy Ohio 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 received by Duke Energy Ohio after 1:00 p.m. prevailing Eastern Time on a Business Day, the Companies after 1:00Excess Collateral will be returned by the second Business Day following the date of notice. If the XXXX Supplier posted a Letter of Credit, the Excess Collateral shall be returned on the next Business Day following the Business Day on which the amendment to the Letter of Credit is received from the issuing bank, unless in each case the XXXX Supplier agrees in writing to extend such period for returning the Excess Collateral. The XXXX Supplier will not unreasonably deny a request for a one-day extension of the period for returning the Excess Collateral.