Common use of Transfer Security Clause in Contracts

Transfer Security. On or prior to the end of the twenty-first (21st) Contract Year, the Project Company shall deliver to GPA a security deposit in the amount of US$15,000,000 (the “Transfer Security”). The security deposit shall be issued in one of the forms set out in Article 6 as security for performance of the Project Company’s obligations under this ARTICLE 18. The deposit shall remain valid for one (1) year subsequent to the date of Facility Transfer. In the event that Project Company has not delivered the security deposit in favor of GPA by the end of the twenty-first (21st) Contract Year, GPA shall have the right to withhold payments to Project Company (including payment amounts owed pursuant to Article 14) up to the Transfer Security amount. CHOICE OF

Transfer Security. On or prior to the end of the twenty-first (21st) Contract Year, the Project Company shall deliver to GPA a security deposit in the amount of US$15,000,000 (the “Transfer Security”). The security deposit shall be issued in one of the forms set out in Article 6 as security for performance of the Project Company’s obligations under this ARTICLE 18. The deposit shall remain valid for one (1) year subsequent to the date of Facility Transfer. In the event that Project Company has not delivered the security deposit in favor of GPA by the end of the twenty-first (21st) Contract Year, GPA shall have the right to withhold payments to Project Company (including payment amounts owed pursuant to Article 14) up to the Transfer Security amount. CHOICE OF.