Prior to Initial Delivery Date. As of the Execution Date Seller shall deliver to Buyer, and thereafter maintain with Buyer until such time as Seller delivers the Delivery Date Security, Collateral in the amount of the Application Security. As of the date on which the Contract Approval Security is due Seller shall deliver to Buyer Collateral equal to the amount of the Delivery Date Security, and thereafter maintain with Buyer Collateral in the amount of the Delivery Date Security until the first business day following the first Posting Deadline (as defined in the following paragraph). In the event that the Delivery Date Security or any portion thereof is drawn by Buyer, Seller shall not be obligated to replenish the amount drawn.
Appears in 5 contracts
Samples: Power Purchase and Sale Agreement, Power Purchase and Sale Agreement, Power Purchase and Sale Agreement
