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.
Appears in 6 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
