Resulting payment. Seller forfeits 25% of the Performance Assurance Amount previously posted in connection with the Designated System; the remaining 75% of Performance Assurance Amount is returned by Buyer to Seller. It is possible that this Reason for System Removal occurs prior to Seller’s posting of Seller’s Performance Assurance. In such a case, Seller shall pay Buyer an amount equal to 25% of the Collateral Requirement associated with such Designated System.
Appears in 3 contracts
Sources: Master Renewable Energy Credit Purchase and Sale Agreement, Master Renewable Energy Credit Purchase and Sale Agreement, Master Renewable Energy Credit Purchase and Sale Agreement
Resulting payment. Seller forfeits 25% of the Performance Assurance Amount previously posted in connection with the Designated System; the remaining 75% of Performance Assurance Amount is returned by Buyer to Seller. It is possible that this Reason for System Removal occurs prior to Seller’s posting of Seller’s Performance Assurance. In such a case, Seller shall pay Buyer an amount equal to 25% of the Collateral Requirement associated with such Designated System. If Seller has received any Advance of Capital, Seller shall return such Advance of Capital in accordance with Section 5.6.
Appears in 3 contracts
Sources: Master Renewable Energy Credit Purchase and Sale Agreement, Master Renewable Energy Credit Purchase and Sale Agreement, Master Renewable Energy Credit Purchase and Sale Agreement
Resulting payment. Seller forfeits 25% of the Performance Assurance Amount previously posted in connection with the Designated System; the remaining 75% of Performance Assurance Amount is returned by Buyer to Seller. It is possible that this Reason for System Removal occurs prior to Seller’s posting of Seller’s Performance Assurance. In such a case, Seller shall pay Buyer an amount equal to 25% of the Collateral Requirement associated with such Designated System. If Seller has received any Advance of Capital, Seller shall return such Advance of Capital in accordance with Section 5.6.
Appears in 2 contracts
Sources: Master Renewable Energy Credit Purchase and Sale Agreement, Master Renewable Energy Credit Purchase and Sale Agreement
Resulting payment. Seller forfeits 25% of the Performance Assurance Amount previously posted in connection with the Designated System; the remaining 75% of Performance Assurance Amount is returned by Buyer to Seller. It is possible that this Reason for System Removal occurs prior to Seller’s posting of Seller’s Performance Assurance. In such a case, Seller shall pay Buyer an amount equal to 25% of the Collateral Requirement associated with such Designated System.Collateral
Appears in 1 contract
Sources: Master Renewable Energy Credit Purchase and Sale Agreement