Seller’s Support. (a) Within five (5) Business Days following the receipt of the Regulatory Approval, Seller shall cause Seller Guarantor to deliver to Buyer a guaranty by Seller Guarantor of Seller’s payment obligations under this Agreement substantially in the form of Exhibit G (the “Seller Guaranty”). Seller shall be required to cause Seller Guarantor to maintain the Seller Guaranty thereafter continuing through and including the date that all of Seller’s obligations under this Agreement have been satisfied. Such Seller Guaranty shall be capped at the amount of Unsecured Credit Limit under Section 6.5.
(b) Seller shall be required to post Credit Support in the amount of $20,000.00 per MWh/hour of the Contract Maximum Amount (e.g., $21,800,000 in the event that the Contract Maximum Amount is 1,090 MWh/hour) (“Fixed Credit Support”) to secure Seller’s obligations under this Agreement in the period beginning on the Effective Date and continuing through and including the date that all of Seller’s obligations under this Agreement are satisfied. Fifty percent (50%) of the Fixed Credit Support shall be provided to Buyer on the Effective Date; and the remaining fifty percent (50%) of the Fixed Credit Support shall be provided to Buyer within fifteen (15) Business Days after receipt of the Regulatory Approval.
(c) At any time following the receipt of the Regulatory Approval, if Buyer’s Exposure exceeds Seller Guarantor’s Unsecured Credit Limit pursuant to Section 6.5, Seller shall provide additional Credit Support in an amount equal to the amount by which the Unsecured Credit Limit is exceeded, rounded up to the nearest $250,000.
(d) If at any time following the receipt of the Regulatory Approval there shall occur a Downgrade Event, Seller Guarantor’s Unsecured Credit Limit shall automatically be zero. Seller shall then provide Credit Support in an amount equal to Buyer’s Exposure.
(e) If at any time during the Term, the amount of Credit Support is reduced as a result of Buyer’s draw upon such Credit Support, Seller shall replenish such Credit Support to the total amount required under this Section 6.1 within five (5) Business Days after that draw.
(f) At any time following the receipt of the Regulatory Approval, when the amount of Credit Support held by Buyer, pursuant to Section 6.1(c), is greater than the amount by which Buyer’s Exposure exceeds Seller Guarantor’s Unsecured Credit Limit, then upon request of Seller, with such request being made not more often than on a quarter...
Seller’s Support. Before Delivery of the first Aircraft, the Seller will provide the Buyer with the warranties and service life policies that the Seller has obtained pursuant to the Supplier Product Support Agreements.
Seller’s Support.
(a) Seller shall be required to post Credit Support with a Value of at least $47,020.00 to secure Seller’s Obligations until the Commercial Operation Date (“Development Period Security”). Fifty percent (50%) of the Development Period Security shall be provided to Buyer on the Effective Date, and the remaining fifty percent (50%) of the Development Period Security shall be provided to Buyer within fifteen (15) days after this Agreement becomes effective and binding pursuant to Section 8.1(a). Buyer shall return any undrawn amount of the Development Period Security to Seller within thirty (30) days after the later of (x) Buyer’s receipt of an undisputed notice from Seller that the Commercial Operation Date has occurred or
Seller’s Support. (a) Seller shall be required to post Credit Support with a Value of $7,410,800 (which is equal to $40,000.00 per MWh per hour of Contract Maximum Amount), as adjusted in accordance with Section 3.1(c), to secure Seller’s Obligations until the Commercial Operation Date (“Development Period Security”). Fifty percent (50%) of the Development Period Security shall be provided to Buyer on the Effective Date, and the remaining fifty percent (50%) of the Development Period Security shall be provided to Buyer within fifteen (15) days after the receipt of the Regulatory Approval. Buyer shall return any undrawn amount of the Development Period Security to Seller within thirty (30) days after the earlier of (i) the termination of this Agreement pursuant to Section 8.1 and (ii) the later of (x) Buyer’s receipt of an undisputed notice from Seller that the Commercial Operation Date has occurred or (y) Buyer’s receipt of the full amount of the Operating Period Security.
(b) Beginning not later than three (3) days following the Commercial Operation Date, Seller shall provide Buyer with Credit Support to secure Seller’s Obligations after the Commercial Operation Date through and including the date that all of Seller’s Obligations are satisfied (“Operating Period Security”). The Operating Period Security shall have a Value of $7,410,800 (which is equal to $40,000.00 per MWh per hour of Contract Maximum Amount), as adjusted in accordance with Section 3.3(b) and Section 3.3(c). Neither the Development Period Security nor the Operating Period Security includes any Default Credit Support, and the unused portion (if any) of such Default Credit Support will be returned to Seller within thirty (30) days after the earlier of (i) the cure of the related Default, (ii) the expiration of the Term or (iii) termination of this Agreement under Section 9.3(b) or Section 10.1(c). The Operating Period Security also does not include the Credit Support provided under Section 3.4(b)(xv), which Credit Support will be returned to Seller upon the achievement of the “Commercial Operation Date” under the Phase II Mayflower Wind Power Purchase Agreement.
(c) The Credit Support Delivery Amount, as defined below, will be rounded up, and the Credit Support Return Amount, as defined below, will be rounded down, in each case to the nearest integral multiple of $10,000 (“Rounding Amount”).
(d) The following items will qualify as “Credit Support” hereunder in the amount noted under “Valuation Percentage”:
Seller’s Support. (a) Seller shall be required to post Credit Support in the amount of $4,680,000 to secure Seller’s Obligations until the Commercial Operation Date (“Development Period Security”). The Development Period Security shall be provided to Buyer on the Financial Closing Date. Buyer shall return any undrawn amount of the Development Period Security to Seller within thirty (30) days after the later of (x) Buyer’s receipt of an undisputed notice from Seller that the Commercial Operation Date has occurred or (y) Buyer’s receipt of the full amount of the Operating Period Security.
(b) Beginning not later than three (3) days following the Commercial Operation Date, Seller shall provide Buyer with Credit Support to secure Seller’s Obligations after the Commercial Operation Date through and including the date that all of Seller’s Obligations are satisfied (“Operating Period Security”). The Operating Period Security shall be in the amount of $4,680,000.
(c) The Credit Support Delivery Amount, as defined below, will be rounded up, and the Return Amount, as defined below, will be rounded down, in each case to the nearest integral multiple of $10,000 (“Rounding Amount”).
(d) The following items will qualify as "Credit Support" hereunder in the amount noted under “Valuation Percentage”:
Seller’s Support. Seller shall be required to post Credit Support in the amount of $20,000.00 per MWh per hour of the Contract Maximum Amount to secure Seller’s Obligations (“Fixed Credit Support”). Fifty percent (50%) of the Fixed Credit Support shall be provided to Buyer on the Effective Date, and the remaining fifty percent (50%) of the Fixed Credit Support shall be provided to Buyer within fifteen (15) days after the receipt of the Regulatory Approval. At any time following the receipt of the Regulatory Approval, if Buyer’s Exposure exceeds Seller’s Unsecured Credit Limit pursuant to Section 6.7, Buyer may demand that Seller provide additional Credit Support in an amount equal to the amount by which the Unsecured Credit Limit is exceeded, rounded up to the nearest two hundred fifty thousand dollars ($250,000.00). If at any time there shall occur a Downgrade Event in respect of Seller, Seller’s Unsecured Credit Limit shall automatically be zero. Seller shall then provide Credit Support in an amount equal to Buyer’s Exposure. The Credit Support Delivery Amount, as defined below, will be rounded up, and the Return Amount, as defined below, will be rounded down, in each case to the nearest integral multiple of $10,000 (“Rounding Amount”), except as otherwise provided herein.
Seller’s Support. Prior to delivery of the first Aircraft, the Seller will obtain from all Vendors listed in the Supplier Product Support Agreements manual enforceable and transferable warranties, service life policies, and indemnities against patent infringements for Vendor Parts. The Seller will also obtain enforceable and transferable Vendor service life policies from landing gear Vendors for selected structural landing gear elements. The Seller undertakes to supply to the Buyer such Vendor warranties, Vendor service life policies and indemnities against patent infringements substantially in the form summarized in the Supplier Product Support Agreements manual.
Seller’s Support. The Seller will help the Buyer with the development and introduction of Aircraft training programs at the Buyer's training center, on the Buyer's request and terms to be agreed. The Seller will provide free-of-charge technical assistance in modifying the standard Courseware routers to the Buyer's in-house training programs.
Seller’s Support. Prior to delivery of the first Aircraft under this Agreement, the Seller will obtain from all Vendors listed in the Supplier Product Support Agreements manual enforceable and transferable warranties and indemnities against patent infringements for all of the components, equipment, accessories and parts of the Vendors that are installed in an Aircraft at the time of delivery thereof ("Vendor Parts," it being understood that such term will not include the Propulsion Systems, Buyer Furnished Equipment or other equipment selected by the Buyer to be supplied by Vendors with whom the Seller has no existing enforceable warranty agreements). The Seller will also obtain enforceable and transferable Vendor service life policies from landing gear Vendors for structural landing gear elements. The Seller undertakes to supply to the Buyer such Vendor warranties, Vendor service life policies and indemnities against patent infringements substantially in the form summarized in the Supplier Product Support Agreements manual.
Seller’s Support. Prior to the delivery of the first Aircraft, the Seller shall obtain from all Vendors listed in the “Vendor Product Support Agreements” enforceable and transferable warranties for each of their components, equipment, accessories or parts installed in an Aircraft at the time of delivery thereof (“Vendor Parts”) except for the Propulsion Systems, Buyer Furnished Equipment and other equipment selected by the Buyer to be supplied by Vendors with whom the Seller has no existing enforceable warranty agreements. The Seller shall also obtain enforceable and transferable Vendor Service Life Policies from landing gear Vendors for selected structural landing gear elements. The Seller undertakes to assign to the Buyer such Vendor warranties and Vendor Service Life Policies in the form of “Vendor Product Support Agreements”.
