Project Development Security; Performance Assurance Sample Clauses

Project Development Security; Performance Assurance. To secure its obligations under this Agreement Seller agrees to deliver to Buyer collateral, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: (i) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (i) from the Execution Date of this Agreement until Seller posts Project Development Security pursuant to subpart (ii) below, with Buyer; (ii) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (ii) from a date not later than thirty (30) days following the date on which all of the conditions precedent set forth in Article Eleven are either satisfied or waived until Seller posts Delivery Term Security pursuant to subpart (iii) below, with Buyer; and (iii) from the Commercial Operation Date until the end of the Term, the Delivery Term Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (iii). Any such Performance Assurance shall not be deemed a limitation of damages, unless otherwise specifically provided by the terms set forth in this Agreement.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Project Development Security; Performance Assurance. To secure its obligations under this Agreement, satisfying any credit terms pursuant to the terms of Section 8.2, to the extent marked applicable, Seller agrees to deliver to Buyer (the “Secured Party”) within thirty (30) days of the date on which all of the conditions precedent set forth in Article Eleven are either satisfied or waived, and Seller shall maintain in full force and effect (i) until the Construction Start Date, Project Development Security in the amount and in the form set forth on the Cover Sheet, (ii) from the Construction Start Date until the Commercial Operation Date, Project Development Security in the amount and in the form set forth on the Cover Sheet and (iii) from the Commercial Operation Date until the end of the Term, the Delivery Term Security in the amount and in the form set forth on the Cover Sheet. Any such Performance Assurance shall not be deemed a limitation of damages.
Sample 1Sample 2
Project Development Security; Performance Assurance. To secure its obligations under this Agreement Seller agrees to deliver to Buyer Performance Assurance, which Seller shall maintain in full force and effect for the period posted with Buyer, as follows: (i) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (i) ($90,000.00), from the Execution Date of this Agreement until Seller posts Project Development Security pursuant to subpart (ii) below, with Buyer; (ii) Project Development Security in the amount and in the form set forth in the Cover Sheet with respect to this subpart (ii) ($360,000.00), from a date not later than ten (10) Business Days following the date on which all of the conditions precedent set forth in Article Eleven are either satisfied or waived until Seller posts Performance Assurance pursuant to subpart (iii) below, with Buyer; and (iii) Performance Assurance in the amount and in the form set forth in the Cover Sheet with respect to this subpart 8.4(a)(iii) ($2,821,000.00) to be delivered and posted as follows: (A) Commencing with the Commercial Operation Date, Buyer will withhold amounts from Seller's first eight monthly invoices for Product delivered during the Delivery Term and accumulate these amounts towards Seller's Performance Assurance as follows (collectively, the "Initial Performance Assurance"): (1) First monthly invoice - ten (10) percent of the total invoice amount, (2) Second monthly invoice - ten (10) percent of the total invoice amount, (3) Third montWy invoice - ten (10) percent of the total invoice amount, (4) Fourth montWy invoice -ten (10) percent of the total invoice amount, (5) Fifth monthly invoice - twenty five (25) percent of the total invoice amount, (6) Sixth monthly invoice - twenty five (25) percent of the total invoice amount, (7) Seventh monthly invoice - twenty five (25) percent of the total invoice amount, and (8) Eighth monthly invoice - twenty five (25) percent of the total invoice amount. The Initial Performance Assurance shall accumulate in an account managed by Buyer and remain posted from the date such Initial Performance Assurance is witWleld until (x) Seller posts the Full Chowchilla Facility 5 Performance Assurance pursuant to subpart 8.4(a)(iii)(B)(l), or (y) the end of the Term in the event Seller elects to post the Remaining Performance Assurance pursuant to subpart 8.4(a)(iii)(B)(2). (B) From no later than July 31, 2009 until the end of the Term, Seller shall post Performance As...
Sample 1
Project Development Security; Performance Assurance. To secure its obligations under this Agreement, satisfying any credit terms pursuant to the terms of Section 8.2, to the extent marked applicable, Seller agrees to deliver to Buyer, and Seller shall maintain in full force and effect (i) from the Execution Date to the date Seller posts Project Development Security specified on the Cover Sheet for Section 8.2(d)(i)(ii), the sum of its cash Bid Deposits,
Sample 1
Project Development Security; Performance Assurance. To secure its obligations under this Agreement, in addition to satisfying any credit terms pursuant to the terms of Section 8.2 to the extent marked "Applicable," Seller agrees to deliver to Buyer (the "Secured Party") within thirty (30) days of the date on which all of the conditions precedent set forth in Article Eleven are either satisfied or waived, and Seller shall maintain in full force and effect (i) until the Commercial Operation Date, Project Development Security in the amount set forth on the Cover Sheet, the form of which shall be determined [in the sole discretion of][or][by] Buyer and (ii) from the Commercial Operation Date until the end of the Term, Performance Assurance in the amount set forth on the Cover Sheet, the form of which shall be determined [in the sole discretion of][or][by] Buyer. Any such security shall not be deemed a limitation of damages.
Sample 1

Related to Project Development Security; Performance Assurance

  • Performance Assurance Seller agrees to deliver to Buyer Performance Assurance in a form acceptable to Buyer to secure its obligations under this Agreement, which Performance Assurance Seller shall maintain in full force and effect for the period posted with Buyer, as follows:

  • CONTRACTOR PERFORMANCE AUDIT The Contractor shall allow the Authorized User to assess Contractor’s performance by providing any materials requested in the Authorized User Agreement (e.g., page load times, response times, uptime, and fail over time). The Authorized User may perform this Contractor performance audit with a third party at its discretion, at the Authorized User’s expense. The Contractor shall perform an independent audit of its Data Centers, at least annually, at Contractor expense. The Contractor will provide a data owner facing audit report upon request by the Authorized User. The Contractor shall identify any confidential, trade secret, or proprietary information in accordance with Appendix B, Section 9(a), Confidential/Trade Secret Materials.

  • Quarterly Contractor Performance Reporting Customers shall complete a Contractor Performance Survey (Exhibit I) for each Contractor on a Quarterly basis. Customers will electronically submit the completed Contractor Performance Survey(s) to the Department Contract Manager no later than the due date indicated in Contract Exhibit D, Section 17, Additional Special Contract Conditions. The completed Contractor Performance Survey(s) will be used by the Department as a performance-reporting tool to measure the performance of Contractors. The Department reserves the right to modify the Contractor Performance Survey document and introduce additional performance-reporting tools as they are developed, including online tools (e.g. tools within MyFloridaMarketPlace or on the Department's website).

  • Financial Performance Covenants Notwithstanding anything to the contrary contained in Section 7.01, in the event that the U.S. Borrower fails to comply with the requirements of any Financial Performance Covenant, until the expiration of the 10th day subsequent to the date the certificate calculating such Financial Performance Covenant is required to be delivered pursuant to Section 5.04(c), Holdings shall have the right to issue Permitted Cure Securities for cash or otherwise receive cash contributions to the capital of Holdings, and, in each case, to contribute any such cash to the capital of Intermediate Holdings (which shall contribute all such cash to the capital of the U.S. Borrower) (collectively, the "Cure Right"), and upon the receipt by U.S. Borrower of such cash (the "Cure Amount") pursuant to the exercise by Holdings of such Cure Right such Financial Performance Covenant shall be recalculated giving effect to the following pro forma adjustments: (i) EBITDA shall be increased, solely for the purpose of measuring the Financial Performance Covenants and not for any other purpose under this Agreement, by an amount equal to the Cure Amount; and (ii) If, after giving effect to the foregoing recalculations, the U.S. Borrower shall then be in compliance with the requirements of all Financial Performance Covenants, the U.S. Borrower shall be deemed to have satisfied the requirements of the Financial Performance Covenants as of the relevant date of determination with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default of the Financial Performance Covenants that had occurred shall be deemed cured for this purposes of the Agreement.

  • Appropriation of Performance Security (i) Upon occurrence of a Contractor’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages for such Contractor’s Default. (ii) Upon such encashment and appropriation from the Performance Security, the Contractor shall, within 30 (thirty) days thereof, replenish, in case of partial appropriation, to its original level the Performance Security, and in case of appropriation of the entire Performance Security provide a fresh Performance Security, as the case may be, and the Contractor shall, within the time so granted, replenish or furnish fresh Performance Security as aforesaid failing which the Authority shall be entitled to terminate the Agreement in accordance with Article 23. Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the Contractor shall be entitled to an additional Cure Period of 30 (thirty) days for remedying the Contractor’s Default, and in the event of the Contractor not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 23.

  • Excuse from performance of obligations If the Affected Party is rendered wholly or partially unable to perform its obligations under this Agreement because of a Force Majeure Event, it shall be excused from performance of such of its obligations to the extent it is unable to perform on account of such Force Majeure Event; provided that: (a) the suspension of performance shall be of no greater scope and of no longer duration than is reasonably required by the Force Majeure Event; (b) the Affected Party shall make all reasonable efforts to mitigate or limit damage to the other Party arising out of or as a result of the existence or occurrence of such Force Majeure Event and to cure the same with due diligence; and (c) when the Affected Party is able to resume performance of its obligations under this Agreement, it shall give to the other Party notice to that effect and shall promptly resume performance of its obligations hereunder.

  • Performance Obligations The Purchaser shall have performed in all respects all obligations required to be performed by it under this Agreement at or prior to the Closing.

  • Employee Performance Review When a formal review of an employee’s performance is made, the employee concerned shall be given an opportunity to discuss, sign and make written comments on the review form in question and the employee is to receive a signed copy to indicate that its contents have been read. An employee shall be entitled to a minimum of two (2) work days to review the performance review prior to providing any response to the Employer, verbally or in writing, with respect to the evaluation.

  • Consideration for Performance The consideration to be paid to the Contractor under this Agreement will be compensation for all the Contractor’s expenses incurred in the performance of this Agreement, unless otherwise expressly provided.

  • Description of Administration Services on a Continuous Basis (a) PNC will perform the following administration services with respect to each Portfolio: (i) Prepare quarterly broker security transactions summaries; (ii) Prepare monthly security transaction listings; (iii) Supply, in the form requested, various customary Portfolio and Fund statistical data on an ongoing basis; (iv) Prepare and ensure the filing of the Funds’ annual and semi-annual reports with the SEC on Forms N-SAR and N-CSR and the Fund’s quarterly reports with the SEC on Form N-Q; (v) If mutually agreed by PNC and VP Distributors in writing, prepare (or assist in the preparation of) and ensure the filing of (or coordinate filing of, as may be mutually agreed) such other reports with the SEC as may be required by the SEC and that would be primarily fulfilled using books and records maintained by PNC under the terms of this Agreement; (vi) Assist in the preparation of registration statements and other filings relating to the registration of Shares; (vii) Monitor each Portfolio’s status as a regulated investment company under Sub-chapter M of the Internal Revenue Code of 1986, as amended (“Sub-Chapter M”); (viii) Coordinate contractual relationships and communications between the Funds and their contractual service providers; (ix) Prepare expense budgets, accrual review and expense reports as needed; (x) Provide read-only on-line access to accounting system as requested; (xi) Provide electronic transmissions of holdings, transactions, security master, general ledger, NAV, security pricing data, and cash activity as specified; (xii) Coordinate printing and mailing of annual and semi-annual financial statements; (xiii) Prepare reports for Fund Boards and attend Board meetings when and as requested; (xiv) Prepare, execute, and file each Portfolio’s Federal and state tax returns, including closed funds, and appropriate extensions after review and approval by the Fund’s independent registered public accounting firm; (xv) Prepare, execute, and file each Portfolio’s federal excise returns (Form 8613) after review and approval by the Fund’s independent registered public accounting firm; (xvi) Prepare annual tax provisions and financial tax disclosures; (xvii) Prepare tax cost for semi-annual and Form N-Q filings updated for current year-to-date wash sales and prior year known Schedule M adjustments; (xviii) Prepare dividend calculations, including accompanying analysis and earnings summary in accordance with applicable policy (as such policy is provided in writing by VP Distributors to PNC), and maintain dividend history; (xix) Prepare required disclosures for shareholder reporting, including Form 1099-DIV reporting and supporting materials such as QDI, DRD, income from U.S. Obligations, income from State obligations, income from AMT obligations, tax-exempt income, and Florida intangibles; (xx) Monitor and propose procedures as needed for tax considerations in the following areas: corporate actions, consent income, bad debt/restructurings, new instruments, premium amortization, and legislation and industry developments on an ad hoc basis; and (xxi) Prepare and deliver, to the extent available to PNC, survey information when and in the form requested.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!