Common use of Seller’s Performance Security Clause in Contracts

Seller’s Performance Security. To secure its obligations under this Agreement, Seller shall deliver Performance Security to Buyer in the amount of one hundred eighty dollars ($180) per kilowatt of Contract Capacity upon the Commercial Operation Date. If the Performance Security is not in the form of cash, it shall be in a form and substance reasonably satisfactory to Buyer. Seller shall maintain the Performance Security in full force and effect until the following have occurred: (A) the Delivery Term has expired or terminated early; and (B) all payment obligations of the Seller arising under this Agreement, including compensation for penalties, Termination Payment, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting). Following the occurrence of both events, Buyer shall promptly return to Seller the unused portion of the Performance Security. If the Performance Security is a letter of credit and the issuer of such letter of credit (i) fails to maintain its Credit Rating, (ii) indicates its intent not to renew such letter of credit and such letter of credit expires prior to the end of the Delivery Term, or (iii) fails to honor Buyer’s properly documented request to draw on such letter of credit by such issuer, Seller shall have three (3) Business Days to either post cash or deliver a substitute letter of credit that meets the requirements set forth in the definition of Performance Security.

Seller’s Performance Security. To secure its obligations under this Agreement, Seller shall deliver Performance Security to Buyer in the amount of one hundred eighty dollars ($180) per kilowatt of Contract Capacity upon on or before the Commercial Operation Date. If the Date.‌ The Performance Security is not shall be in the form of cash, it shall be in a form and substance reasonably satisfactory to Buyercash or Letter of Credit. Seller shall maintain the Performance Security in full force and effect effect, subject to any draws made by Buyer in accordance with this Agreement, until the following have occurred: (A) the Delivery Term has expired or terminated early; and (B) all payment obligations of the Seller arising then due and payable under this Agreement, including compensation for penalties, Termination Payment, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting). Following the occurrence of both events, Buyer Xxxxx shall promptly return to Seller the unused portion of the Performance Security. If the Performance Security is a letter Letter of credit Credit and the issuer of such letter Letter of credit Credit (i) fails to maintain its the minimum Credit RatingRating set forth in the definition of Letter of Credit, (ii) indicates its intent not to renew such letter Letter of credit Credit and such letter Letter of credit Credit expires prior to the end of the Delivery TermCommercial Operation Date, or (iii) fails to honor BuyerXxxxx’s properly documented request to draw on such letter Letter of credit Credit by such issuer, Seller shall have three (3) Business Days to either post cash or deliver a substitute letter of credit that meets the requirements set forth in the definition of Performance Security.ten

Seller’s Performance Security. To secure its obligations under this Agreement, Seller shall deliver Performance Security to Buyer in the amount of one hundred eighty dollars ($180) per kilowatt of Contract Capacity upon the Commercial Operation Date[Buyer to determine amount following credit review]. If the Performance Security is not in the form of cash, it shall be in a form and substance reasonably satisfactory to Buyer. Seller shall maintain the Performance Security in full force and effect until the following have occurred: (A) the Delivery Term has expired or terminated early; and (B) all payment obligations of the Seller arising under this Agreement, including compensation for penalties, Termination Payment, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting). Following the occurrence of both events, Buyer Xxxxx shall promptly return to Seller the unused portion of the Performance Security. If the Performance Security is a letter of credit and the issuer of such letter of credit (i) fails to maintain its Credit Rating, (ii) indicates its intent not to renew such letter of credit and such letter of credit expires prior to the end of the Delivery TermCommercial Operation Date, or (iii) fails to honor BuyerXxxxx’s properly documented request to draw on such letter of credit by such issuer, Seller shall have three (3) Business Days to either post cash or deliver a substitute letter of credit that meets the requirements set forth in the definition of Performance Development Security.. NOTICES

Seller’s Performance Security. To secure its obligations under this Agreement, Seller shall deliver Performance Security to Buyer in the amount of one hundred eighty dollars ($180) per kilowatt of Contract Capacity upon on or before the Commercial Operation Date. If the The Performance Security is not shall be in the form of cash, it shall be in a form and substance reasonably satisfactory to Buyercash or Letter of Credit. Seller shall maintain the Performance Security in full force and effect effect, subject to any draws made by Buyer in accordance with this Agreement, until the following have occurred: (A) the Delivery Term has expired or terminated early; and (B) all payment obligations of the Seller arising then due and payable under this Agreement, including compensation for penalties, Termination Payment, indemnification payments or other damages are paid in full (whether directly or indirectly such as through set-off or netting). Following the occurrence of both events, Buyer Xxxxx shall promptly return to Seller the unused portion of the Performance Security. If the Performance Security is a letter Letter of credit Credit and the issuer of such letter Letter of credit Credit (i) fails to maintain its the minimum Credit RatingRating set forth in the definition of Letter of Credit, (ii) indicates its intent not to renew such letter Letter of credit Credit and such letter Letter of credit Credit expires prior to the end of the Delivery TermCommercial Operation Date, or (iii) fails to honor BuyerXxxxx’s properly documented request to draw on such letter Letter of credit Credit by such issuer, Seller shall have three (3) Business Days to either post cash or deliver a substitute letter of credit that meets the requirements set forth in the definition of Performance Security.ten‌