Provision and Application of Security. Developer has provided Affected Transmission Owner with security in the amount of the ATO Estimated Total Costs for the Affected System Upgrade Facilities in accordance with Attachment S to the NYISO OATT. If the Developer: (i) does not pay an invoice issued by Affected Transmission Owner pursuant to Article 7.1 within the timeframe set forth in Article 7.3 or (ii) does not pay any disputed amount into an independent escrow account pursuant to Article 7.4, the Affected Transmission Owner may draw upon Developer’s security to recover such payment. The Developer’s security shall be reduced on a dollar-for-dollar basis for Developer’s payments made to the Affected Transmission Owner for its performance of the EPC Services.
Provision and Application of Security. Within thirty (30) Calendar Days of the Effective Date of this Agreement, Transmission Developer shall provide Affected System Operator with Security in the amount of the cost estimate for the Network Upgrade Facilities 1.B, in accordance with Section 22.9.3 of Attachment P of the ISO OATT, and the Transmission Project 1.A, both documented in the Facilities Study report. This amount is set forth in Appendix A of this Agreement. If the Transmission Developer: (i) does not pay an invoice issued by the Affected System Operator pursuant to Article 7.1 within the timeframe set forth in Article 7.3 or (ii) does not pay any disputed amount into an independent escrow account pursuant to Article 7.4 the Affected System Operator may draw upon Transmission Developer’s Security to recover such payment. The Security shall be reduced on a dollar-for-dollar basis for payments made to Affected System Operator for the purpose of constructing, procuring, and installing the Affected System Upgrade Facilities.
Provision and Application of Security. Developer has provided Affected System Operator with Security in the amount of the ASO Estimated Total Costs for the Affected System Upgrade Facilities in accordance with Attachment S to the ISO OATT. If the Developer: (i) does not pay an invoice issued by Affected System Operator pursuant to Article 7.1 within the timeframe set forth in Article 7.3 or (ii) does not pay any disputed amount into an independent escrow account pursuant to Article 7.4, the Affected System Operator may draw upon Developer’s Security to recover such payment. The Developer’s Security shall be reduced on a dollar-for-dollar basis for Developer’s payments made to the Affected System Operator for its performance of the EPC Services.
Provision and Application of Security. Each Developer has provided the Affected Transmission Owner with cash or Security in the amount of its Developer Common SUF Cost Cap for its share of the Common System Upgrade Facilities as determined in accordance with Attachment S to the ISO OATT and set forth in Appendix A. If a Developer: (i) does not pay an invoice issued by the Affected Transmission Owner pursuant to Article 7.1 within the timeframe set forth in Article 7.3 or (ii) does not pay any disputed amount into an independent escrow account pursuant to Article 7.4, the Affected Transmission Owner may draw upon the cash or Security posted by the Developer for the Affected Transmission Owner to recover such payment.
Provision and Application of Security. At least thirty (30) Calendar Days prior to the commencement of the procurement, installation, or construction of a discrete portion of a Connecting Transmission Owner’s Attachment Facilities, Developer shall provide Connecting Transmission Owner, at Developer’s option, a guarantee, a surety bond, letter of credit or other form of security that is reasonably acceptable to Connecting Transmission Owner and is consistent with the Uniform Commercial Code of the jurisdiction identified in Article 14.2.1 of this Agreement. Such security for payment shall be in an amount sufficient to cover the cost for the Developer’s share of constructing, procuring and installing the applicable portion of Connecting Transmission Owner’s Attachment Facilities, and shall be reduced on a dollar-for-dollar basis for payments made to Connecting Transmission Owner for these purposes. Developer has provided Affected Transmission Owner with security in the amount of the ATO Estimated Total Costs for the Affected System Upgrade Facilities in accordance with Attachment S to the NYISO OATT. If the Developer: (i) does not pay an invoice issued by Affected Transmission Owner pursuant to Article 7.1 within the timeframe set forth in Article 7.3 or (ii) does not pay any disputed amount into an independent escrow account pursuant to Article 7.4, the Affected Transmission Owner may draw upon Developer’s security to recover such payment. The Developer’s security shall be reduced on a dollar-for-dollar basis for Developer’s payments made to the Affected Transmission Owner for its performance of the EPC Services. In addition:
