Common use of Termination of Project Development Security Clause in Contracts

Termination of Project Development Security. If after the Commercial Operation Date no damages are due and owing to Buyer under this Agreement, then Seller shall no longer be required to maintain the [Project Development Security], and Buyer shall return to Seller the [Project Development Security], less the amounts drawn in accordance with Section 8.4(b). If Seller has met the Guaranteed Commercial Operation Date, then the [Project Development Security returned shall include amounts held by Buyer as Daily Delay Damages due to a delayed Construction Start Date][Pre-Delivery Term Security returned shall include amounts held by Buyer]. The [Project Development Security] (or portion thereof) due to Seller shall be returned to Seller within five (5) Business Days of Seller’s provision of the Delivery Term Security unless, with Buyer’s consent, Seller elects to apply the [Project Development Security] posted pursuant to Section 8.4(a)(ii) toward the Delivery Term Security posted pursuant to Section 8.4(a)(iii). [Short Term Offers from existing ERRs: Seller to replace Project Development Security with Pre-Delivery Term Security]

Termination of Project Development Security. If after the Commercial Operation Date no damages are due and owing to Buyer under this Agreement, then Seller shall no longer be required to maintain the [Project Development Security][Pre-Delivery Term Security], and Buyer shall return to Seller the [Project Development Security][Pre-Delivery Term Security], less the amounts drawn in accordance with Section 8.4(b). If Seller has met the Guaranteed Commercial Operation Date, then the [Project Development Security returned shall include amounts held by Buyer as Daily Delay Damages due to a delayed Construction Start Date][Pre-Delivery Term Security returned shall include amounts held by Buyer]. The [Project Development Security][Pre-Delivery Term Security] (or portion thereof) due to Seller shall be returned to Seller within five (5) Business Days of Seller’s provision of the Delivery Term Security unless, with Buyer’s consent, Seller elects to apply the [Project Development Security][Pre-Delivery Term Security] posted pursuant to Section 8.4(a)(ii) toward the Delivery Term Security posted pursuant to Section 8.4(a)(iii). [Short Term Offers from existing ERRs: Seller to replace Project Development Security with Pre-Delivery Term Security].

Termination of Project Development Security. If after the Commercial Operation Date no damages are due and owing to Buyer under this Agreement, then Seller shall no longer be required to maintain the [Project Development Security], and Buyer shall return to Seller the [Project Development Security], less the amounts drawn in accordance with Section 8.4(b). If Seller has met the Guaranteed Commercial Operation Date, then the [Project Development Security returned shall include amounts held by Buyer as Daily Delay Damages due to a delayed Construction Start Date][Pre-Delivery Term Security returned shall include amounts held by Buyer]. The [Project Development Security] (or portion thereof) due to Seller shall be returned to Seller within five (5) Business Days of Seller’s provision of the Delivery Term Security unless, with Buyer’s consent, Seller elects to apply the [Project Development Security] posted pursuant to Section 8.4(a)(ii) toward the Delivery Term Security posted pursuant to Section 8.4(a)(iii). [Short Term Offers from existing ERRs: Seller to replace Project Development Security with Pre-Delivery Term Security].

Termination of Project Development Security. If after the Commercial Operation Date no damages are due and owing to Buyer under this Agreement, then Seller shall no longer be required to maintain the [Project Development Security], and Buyer shall return to Seller the [Project Development Security], less the amounts drawn in accordance with Section 8.4(b). If Seller has met the Guaranteed Commercial Operation Date, then the [Project Development Security returned shall include amounts held by Buyer as Daily Delay Damages due to a delayed Construction Start Date][Pre-Delivery Term Security returned shall include amounts held by Buyer]. The [Project Development Security] (or portion thereof) due to Seller shall be returned to Seller within five (5) Business Days of Seller’s provision of the Delivery Term Security unless, with Buyer’s consent, Seller elects to apply the [Project Development Security] posted pursuant to Section 8.4(a)(ii) toward the Delivery Term Security posted pursuant to Section 8.4(a)(iii). [Short Term Offers from existing ERRsShort Term Existing: Seller to replace Project Development Security with Pre-Delivery Term Security]

Termination of Project Development Security. If after the Commercial Operation Date no damages are due and owing to Buyer under this Agreement, then Seller shall no longer be required to maintain the [Project Development Security][Pre-Delivery Term Security], and Buyer shall return to Seller the [Project Development Security][Pre-Delivery Term Security], less the amounts drawn in accordance with Section 8.4(b). If Seller has met the Guaranteed Commercial Operation Date, then the [Project Development Security returned shall include amounts held by Buyer as Daily Delay Damages due to a delayed Construction Start Date][Pre-Delivery Term Security returned shall include amounts held by Buyer]. The [Project Development Security][Pre-Delivery Term Security] (or portion thereof) due to Seller shall be returned to Seller within five (5) Business Days of Seller’s provision of the Delivery Term Security unless, with Buyer’s consent, Seller elects to apply the [Project Development Security][Pre-Delivery Term Security] posted pursuant to Section 8.4(a)(ii) toward the Delivery Term Security posted pursuant to Section 8.4(a)(iii). [Short Term Offers from existing ERRs: Seller to replace Project Development Security with Pre-Delivery Term Security].