Examples of Acceptable Guaranty in a sentence
If at any time a guaranty provided under this Section 15.05 ceases to be an Acceptable Guaranty, Seller shall provide to NYSERDA replacement Contract Security in the form of cash, certified funds, a substitute Acceptable Guaranty, or Letters of Credit conforming to the requirements of Section 15.01 and Section 15.03 within five (5) Business Days.
Seller may fulfill the requirements of Sections 15.01 and Section 15.02 through an Acceptable Guaranty.
In the event that Seller has provided the Contract Security in the form of a Letter of Credit or an Acceptable Guaranty, NYSERDA shall be entitled to draw on the Letter of Credit or obtain payment under the Acceptable Guaranty, respectively, for the prorated amount of the Contract Security calculated in accordance with this Section 15.07(b) as of the date of Seller’s written notification to NYSERDA of Seller’s intent in respect of the Offer Capacity Reduction.
If at any time a guaranty provided under this Section ceases to be an Acceptable Guaranty, Grant Recipient shall provide to NYSERDA replacement Contract Security in the form of cash, certified funds, a substitute Acceptable Guaranty, or Letters of Credit conforming to the requirements of Section VIII.A. and Section VIII.B within five (5) Business Days.
Grant Recipient may fulfill the requirements of Section VIII.A. through an Acceptable Guaranty.