Common use of Required Buyer Deposit Clause in Contracts

Required Buyer Deposit. If, based on any order(s) of the NDFC subsequent to the Existing NDFC Order that results from actions of the Buyer, the aggregate amount of Qualified Decommissioning Funds and Nonqualified Decommissioning Funds required to be on deposit at the time of the Initial Closing and each Subsequent Closing on account of the Ownership Shares of the Sellers participating in each said Closing exceeds the Decommissioning Trust Closing Amount, the Buyer shall be responsible (at or before the time of each Closing at which any such excess is due) to make an additional cash deposit to the Buyer's Decommissioning Fund in an amount equivalent to the applicable share of the excess due at any Closing. The aggregate amount of such additional cash deposits, if any, required from the Buyer pursuant to this Section 5.10(e) shall hereinafter be referred to at the "Required Buyer Deposit."

Appears in 3 contracts

Samples: Purchase and Sale Agreement (New England Power Co), Purchase and Sale Agreement (Connecticut Light & Power Co), Purchase and Sale Agreement (Baycorp Holdings LTD)

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Required Buyer Deposit. If, based on any order(s) of the NDFC ---------------------- subsequent to the Existing NDFC Order that results from actions of the Buyer, the aggregate amount of Qualified Decommissioning Funds and Nonqualified Decommissioning Funds required to be on deposit at the time of the Initial Closing and each Subsequent Closing on account of the Ownership Shares of the Sellers participating in each said Closing exceeds the Decommissioning Trust Closing Amount, the Buyer shall be responsible (at or before the time of each Closing at which any such excess is due) to make an additional cash deposit to the Buyer's Decommissioning Fund in an amount equivalent to the applicable share of the excess due at any Closing. The aggregate amount of such additional cash deposits, if any, required from the Buyer pursuant to this Section 5.10(e) shall hereinafter be referred to at the "Required Buyer Deposit."

Appears in 1 contract

Samples: Purchase and Sale Agreement (Uil Holdings Corp)

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