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”:
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Seller’s Support. (a) Seller shall be required to post Credit Support in the amount with a Value of $4,680,000 629,370 to secure Seller’s Obligations until the Commercial Operation Date (“Development Period Security”). The $377,622 of the Development Period Security shall be provided to Buyer on the Financial Closing Effective Date, and the remaining $251,748 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 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 have a Value of $4,680,000503,496; provided that, if the Contract Maximum Amount is adjusted pursuant to Section 3.3(b), then the Operating Period Security shall be $20,000.00 multiplied by the Contract Maximum Amount, as adjusted in accordance with Section 3.3(b).
(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”:
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Seller’s Support. (a) Seller shall be required to post Credit Support in the amount of $4,680,000 20,000.00 per MWh per hour of Contract Maximum Amount to secure Seller’s Obligations until the Commercial Operation Date (“Development Period Security”). The Fifty percent (50%) of the Development Period Security shall be provided to Buyer on the Financial Closing 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 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) 20,000.00 per MWh per hour of Contract Maximum Amount, as adjusted in accordance with Section 3.3(b). 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”:
Appears in 1 contract
Samples: Power Purchase Agreement
Seller’s Support. (a) Seller shall be required to post Credit Support in the amount with a Value of $4,680,000 [______________] [$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”). The Fifty percent (50%) of the Development Period Security shall be provided to Buyer on the Financial Closing 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 later of (x) Buyer’s receipt of an undisputed notice from Seller that the Commercial Operation Date has occurred or (y) BuyerXxxxx’s receipt of the full amount of the Operating Period Security.
(b) Security.4 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 have a Value of $4,680,000.
(c) [_______] [$40,000.00 per MWh per hour of Contract Maximum Amount], as adjusted in accordance with Section 3.3(b). 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”:
Appears in 1 contract
Samples: Power Purchase Agreement