Return of Delivery Term Security Clause Samples
The 'Return of Delivery Term Security' clause outlines the conditions under which a security deposit or guarantee provided to ensure performance during a delivery term is returned to the party that posted it. Typically, this clause specifies that once all obligations related to the delivery term—such as payment, delivery of goods or services, and resolution of any disputes—are satisfactorily completed, the security is released back to the provider. This mechanism ensures that the party receiving the security has recourse in case of non-performance, while also assuring the provider that their security will be returned when contractual duties are fulfilled, thereby balancing risk and promoting trust between parties.
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Return of Delivery Term Security. Buyer shall return the unused portion of Delivery Term Security, including the payment of any interest due thereon, pursuant to Section 8.4(d) above, to Seller promptly after the following has occurred: (i) the Term of the Agreement has ended, or subject to Section 8.3, an Early Termination Date has occurred, as applicable; and (ii) all payment obligations of the Seller arising under this Agreement, including but not limited to payments pursuant to Section 4.6 (CAISO Charges), Termination Payment, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting).
Return of Delivery Term Security. Buyer shall return the unused portion of Delivery Term Security, including the payment of any Interest Amount due thereon pursuant to Section 10.4(d) above, to Seller promptly after the following has occurred: (i) the Term has ended, or subject to Section 7.2, an Early Termination Date has occurred, as applicable; and (ii) all payment obligations of the Seller arising under this Agreement, including the Termination Payment, indemnification payments or other damages are paid in full.
Return of Delivery Term Security. Buyer shall return the unused portion of Delivery Term Security, including the payment of any Interest Amount due thereon pursuant to Section 10.4(d) above, to Seller promptly after the following has occurred: (i) the Term has ended, or subject to Section 7.2, an Early Termination Date has occurred, as applicable; and (ii) all payment obligations of the Seller arising under this Agreement, including the Termination Payment, indemnification payments or other damages are paid in full. Buyer shall return to Seller the Delivery Term Security promptly after ▇▇▇▇▇’s Notice of termination due to Force Majeure pursuant to Section 8.1(f).
Return of Delivery Term Security. Buyer shall return the unused portion of Delivery Term Security, including the payment of any Interest Amount due thereon pursuant to Section 10.4(d) above, to Seller promptly after the following has occurred: (i) the Term has ended, or subject to Section 7.2, an Early Termination Date has occurred, as applicable; and (ii) all payment obligations of the Seller arising under this Agreement, including the Termination Payment, indemnification payments or other damages are paid in full. Letter of Credit. Performance Assurance provided in the form of a Letter of Credit (see Appendix X) is subject to the following provisions: If Seller has provided a Letter of Credit pursuant to any of the applicable provisions in this Article Ten, then Seller shall renew or cause the renewal of each outstanding Letter of Credit on a timely basis in accordance with this Agreement. In the event the issuer of such Letter of Credit at any time (i) fails to maintain the requirements of an Eligible LC Bank or Letter of Credit, (ii) indicates its intent not to renew such Letter of Credit, or (iii) fails to honor Buyer’s properly documented request to draw on such Letter of Credit, Seller shall cure such occurrence by complying with either subsection 10.5(b)(A) or 10.5(b)(B) below in an amount equal to the outstanding Letter of Credit, and by completing the action within five (5) Business Days after the date of Buyer’s Notice to Seller of an occurrence listed in this subsection (Seller’s compliance with either subsections (A) or (B) below is considered the “Cure”):
Return of Delivery Term Security. Buyer shall return the unused portion of Delivery Term Security, including the payment of any interest due thereon, pursuant to Special Provision 13.2(e) above, to Seller promptly after the following has occurred: (i) the Term of the Confirmation has ended, or subject to Section 5.2 of the EEI Master Agreement, an Early Termination Date has occurred related to the Confirmation, as applicable; and (ii) all payment obligations of Seller arising under this Confirmation, including Termination Payment, indemnification payments or other damages are paid in full (without regard to any set-off or netting, neither of which is permitted under any circumstances with respect to any other transaction between the Parties). [New or Existing Facilities with a Delivery Term of less than one year: Seller to delete this subsection.]
Return of Delivery Term Security. Buyer shall return the undrawn portion of Delivery Term Security, including the payment of any interest earned thereon pursuant to Section 8.2(f), to Seller promptly after the following has occurred: (i)(A) the Term of the Agreement has ended or an Early Termination Date has occurred, as applicable; and (B) all payment obligations of the Seller arising under this Agreement, including compensation for Termination Payment, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting) or (ii) Seller meets the requirements of a Qualified Replacement Guarantor.
Return of Delivery Term Security. Buyer shall return the unused portion of Delivery Term Security, including the payment of any interest due thereon, pursuant to Section 8.4(d) above, to Seller within fourteen (14) days after the following has occurred: (i) the Term of the Agreement has ended, or subject to Section 8.3, an Early Termination Date has occurred, as applicable; and (ii) all payment obligations of the Seller arising under this Agreement, including compensation for any Termination Payment, indemnification payments related to an event for which Buyer sought indemnification prior to the date specified in subpart (i) above, or other damages asserted prior to the date specified in subpart (i) above are paid or otherwise resolved in full (whether directly or indirectly such as through set-off or netting).
Return of Delivery Term Security. Buyer shall return the unused portion of Delivery Term Security, including the payment of any interest due thereon, pursuant to Section 8.4(e) above, to Seller promptly after the following has occurred: (a) the Term of the Agreement has ended, or subject to Section 8.3, an Early Termination Date has occurred, as applicable; (b) all payment obligations of the Seller arising under this Agreement, including compensation for Termination Payments, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting); or (c) Seller has provided Substitute Delivery Term Security.