Procedural Provisions of the Performance and Operations Security Deposits Sample Clauses

Procedural Provisions of the Performance and Operations Security Deposits. (i) Each of the Operations Security Deposit and the Performance Security Deposit (each, a “Security Deposit”) shall have a term of not less than three hundred and sixty-five (365) Days. (ii) Not less that thirty (30) Days prior to the expiration of the relevant Security Deposit, the Company shall extend the validity of such Security Deposit for an additional term of not less than twelve (12) Months, provided that in the case of the Performance Security Deposit, such term shall not extend beyond thirty (30) Days after Commercial Operations Date. (iii) Each Security Deposit provided pursuant to this Section 8.6 shall be maintained in accordance with the terms of this Agreement and shall be reinstated to the full required amount within thirty (30) Days of any draw (other than wrongful drawings) thereon by BPDB. (iv) If at any time there remains less than twenty (20) Days to the effective term of an existing Security Deposit and the Company has not extended the validity of such Security Deposit, BPDB may encash the then-existing Security Deposit in full; provided, that: (A) any amounts drawn in these circumstances shall be deposited in a separate bank account established with such bank as is notified by BPDB to the Company; (B) BPDB may make withdrawals from such bank account only in such amounts and in such circumstances contemplated by this Agreement; and (C) if the Company subsequently provides a replacement Security Deposit equal to or greater than the amount of the Security Deposit then required to be in place, an amount equal to the amount of the Security Deposit encashed pursuant to this Section 8.6(e)(iv) shall promptly be returned to the Company by BPDB.
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Procedural Provisions of the Performance and Operations Security Deposits. (i) Each of the Operations Security Deposit and the Performance Security Deposit (each, a “Security Deposit”) shall have a term of not less than three hundred and sixty-five (365) Days (ii) Not less than 30 (thirty) Days prior to the expiration of relevant Security Deposit, the Company shall provide a replacement Security Deposit or extend the validity of existing Security Deposit which shall have a term of 12 (twelve) months from the expiration of the immediately precedent Security Deposit provided that in the case of the Performance Security Deposit, such term shall not extend beyond 30 (thirty) Days after the Commercial Operations Date. (iii) If at any time there remains less than 20 (twenty) Days to the effective term of the existing Security Deposit and the Company has not provided a replacement or extended the validity of existing Security Deposit , BPDB may en-cash the then-existing Security Deposit in full provided that: (A) If the Company subsequently provides a replacement or alternative Security Deposit, an amount equal to the amount of such replacement Security Deposit shall promptly be returned to the Company by BPDB.
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Procedural Provisions of the Performance and Operations Security Deposits. (i) Not less than thirty (30) Days prior to the expiration of relevant Security Deposit, the Company shall provide a replacement Security Deposit or extend the validity of existing Security Deposit which shall have a term of twelve
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Related to Procedural Provisions of the Performance and Operations Security Deposits

  • Conditions to Obligations of the Parties The obligation of the Parties to effect the Generation Exchange and the other transactions contemplated by this Agreement shall be subject to the fulfillment at or prior to the Exchange Closing Date, of the following conditions: (a) The waiting period under the HSR Act applicable to the consummation of the exchange of the Exchange Assets contemplated hereby shall have expired or been terminated; (b) No preliminary or permanent injunction or other order or decree by any Governmental Authority which prevents the consummation of the exchange of the Exchange Assets contemplated herein shall have been issued and remain in effect (each Party agreeing to use its reasonable best efforts to have any such injunction, order or decree lifted) and no statute, rule or regulation shall have been enacted by any state or federal government or Governmental Authority prohibiting the consummation of the exchange of the Exchange Assets; (c) The DLC Nuclear Closing as defined in the Nuclear Conveyance Agreement shall have occurred; (d) The CAPCO Settlement Agreement shall have been executed by DLC, the FE Subsidiaries and TEC; (e) The Support Agreement shall have been executed by FE and DLC; (f) All consents or approvals, filings with, or notices to any Governmental Authority that are necessary for the consummation of the transactions contemplated by each of the CAPCO Settlement Agreement and the Electrical Facilities Agreement shall have been obtained or made, other than such consents, approvals, filings or notices which are not required in the ordinary course to be obtained or made prior to the consummation of the transactions thereunder or which, if not obtained or made, will not prevent the parties thereto from performing their material obligations thereunder; and (g) There shall be no court order requiring DQE to consummate the transactions contemplated under the Agreement and Plan of Merger between DQE and Allegheny Energy, Inc.

  • Conditions to Obligations of Each Party The respective obligations of each Party to perform this Agreement and consummate the Merger and the other transactions contemplated hereby are subject to the satisfaction of the following conditions, unless waived by both Parties pursuant to Section 11.6:

  • Conditions Precedent to Obligations of Each Party The obligations of each Party to effect the Merger and otherwise consummate the Contemplated Transactions to be consummated at the Closing are subject to the satisfaction or, to the extent permitted by applicable Law, the written waiver by each of the Parties, at or prior to the Closing, of each of the following conditions:

  • Conditions to Obligations of Each Party Under This Agreement The respective obligations of each party to effect the Merger and the other transactions contemplated herein shall be subject to the satisfaction at or prior to the Effective Time of the following conditions, any or all of which may be waived, in whole or in part, to the extent permitted by applicable Law:

  • Performance and Compliance with Collateral The Borrower will, at the Borrower’s expense, timely and fully perform and comply (or, by exercising its rights thereunder, cause the Seller to perform and comply pursuant to the Sale Agreement) with all provisions, covenants and other promises required to be observed by it under the Collateral, the Transaction Documents and all other agreements related to such Collateral.

  • Conditions Precedent to Obligations of the Company The obligations of the Company to effect the Merger and otherwise consummate the transactions contemplated by this Agreement are subject to the satisfaction, at or prior to the Closing, of the following conditions:

  • Additional Conditions to Obligations of the Company The obligations of the Company to consummate the Merger and the transactions contemplated by this Agreement shall be subject to the satisfaction at or prior to the Closing of each of the following conditions, any of which may be waived, in writing, exclusively by the Company:

  • Conditions to Obligations of Each Party to Effect the Merger The respective obligations of each party to this Agreement to effect the Merger shall be subject to the satisfaction at or prior to the Closing Date of the following conditions:

  • General Conditions Costs Contractor is entitled to receive payment for the actual cost of the allowable General Conditions items incurred after receipt of a Notice to Proceed with Construction from Owner through Substantial Completion of the Project, plus 30 calendar days. Contractor is not entitled to reimbursement for General Conditions Costs incurred before receipt of the Notice to Proceed. General Conditions Costs incurred after Substantial Completion, plus 30 calendar days, must be approved in advance by Owner. Allowable General Conditions items are identified below and in Exhibit “D” attached to this Agreement. These items shall be included in the General Conditions Cost amount shown as a line item in the Guaranteed Maximum Price Proposal and as detailed on the Schedule of Values. Items not specifically included below or in Exhibit “D” will not be allowed as General Condition Costs.

  • CONDITIONS TO ALL BORROWINGS The obligations of the Lenders to make any Loan or issue any Letter of Credit, whether on or after the Closing Date, shall also be subject to the satisfaction of the following conditions precedent:

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