Common use of SUBSTITUTION OF SECURITY Clause in Contracts

SUBSTITUTION OF SECURITY. (a) The Sponsor may at any time withdraw Reserved BSE Common Equity that it has previously committed and replace it with any combination of Cash Collateral and Reserve Letters of Credit in an aggregate amount that is equal to the BSE Common Equity Contribution Value of the Reserved BSE Common Equity being withdrawn. (b) BrightSource Ivanpah may at any time substitute Cash Collateral for Reserve Letters of Credit and vice versa.