Common use of Security Fee Clause in Contracts

Security Fee. (a) The Customer agrees to pay Distributor the Security Fee specified in item 16 of Schedule 1 within 30 days of the Commencement Date. (b) Subject to clause 5.4(d), the Distributor will hold the Security Fee for the SF Term. (c) If the Customer ceases to operate, the Distributor may in its absolute discretion retain the balance of any Security Fee held by Distributor. (d) Subject to clause 5.4(e) during the SF Term, if the Actual Electricity Consumption is equal to, or exceeds the Anticipated Electricity Consumption in a SF Year, the Distributor will within 30 Business Days of the expiry of the relevant SF Year, rebate to the Customer 20% of the Security Fee with interest. Interest is payable annually on the rebate amount plus any balance of the Security Fee held by the Distributor. (e) During the SF Term, if there is a Shortfall in a SF Year, the Distributor will reduce the rebate payable for the relevant SF Year by the Shortfall expressed as a percentage of the Anticipated Electricity Consumption. Interest is not payable on the amount of the reduction of any rebate. The interest rate is based on the average monthly 90 day Bank Accepted Bill rate published by the Reserve Bank of Australia, less 0.25%, from the date Distributor receives the Security Fee.

Security Fee. (a) The Customer agrees to pay Distributor the Security Fee specified in item 16 of Schedule 1 within 30 days of the Commencement Date. (b) Subject to clause 5.4(d), the Distributor will hold the Security Fee for the SF Term. (c) If the Customer ceases to operate, the Distributor may in its absolute discretion retain the balance of any Security Fee held by Distributor. (d) Subject to clause 5.4(e) during the SF Term, if the Actual Electricity Consumption is equal to, or exceeds the Anticipated Electricity Consumption in a SF Year, the Distributor will within 30 Business Days of the expiry of the relevant SF Year, rebate to the Customer 20% of the Security Fee with interest. Interest is payable annually on the rebate amount plus any balance of the Security Fee held by the Distributor. (e) During the SF Term, if there is a Shortfall in a SF Year, the Distributor will reduce the rebate payable for the relevant SF Year by the Shortfall expressed as a percentage of the Anticipated Electricity Consumption. Interest is not payable on the amount of the reduction of any rebate. The interest rate is based on the average monthly 90 day Bank Accepted Bill ▇▇▇▇ rate published by the Reserve Bank of Australia, less 0.25%, from the date Distributor receives the Security Fee.