Project Development Security definition

Project Development Security is the collateral required of Seller, as specified and referred to in Section 8.4(a).

Project Development Security is defined in Section 8.1.1.

Project Development Security is the collateral required of Seller, as specified in the Cover Sheet, and referred to in Section 8.4(a), together with any Additional Project Development Security delivered by Seller to Buyer pursuant to Section 3.9(c)(iv). “Prolonged Outage” is any period of more than 30 consecutive days during which the Project is or will be unable, for whatever reason, to provide at least 60% of the Contract Capacity.

Examples of Project Development Security in a sentence

• The Project Development Security (or portion thereof) due to Seller shall be returned to Seller within five (5) Business Days of Buyer’s receipt and acceptance of the Delivery Term Security unless, with Buyer’s consent, Seller elects to apply the Project Development Security posted pursuant to Section 10.4(a)(i) toward the Delivery Term Security posted pursuant to Section 10.4(a)(ii).

• Upon Seller’s posting of the Delivery Term Security, all accrued interest on the unused portion of Project Development Security shall be transferred from Buyer to Seller in the form of cash by wire transfer to the bank account specified under “Wire Transfer” in the Cover Sheet (Notices List).

• If after the Initial Energy Delivery 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).

• Buyer shall pay interest on cash held as Project Development Security or Delivery Term Security, as applicable, at the Interest Rate; provided that, such interest shall be retained by Buyer until Seller posts the Delivery Term Security pursuant to Section 8.4(a)(ii).

• 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, as applicable unless, with Buyer’s consent, Seller elects to apply the Project Development Security posted pursuant to Section 8.4(a)(i) toward the Delivery Term Security posted pursuant to Section 8.4(a)(ii), as applicable.

More Definitions of Project Development Security

Project Development Security has the meaning set forth in Section 5.9(a).

Project Development Security means a Guaranty or a Letter of Credit, in each case, in an amount equal to Two Hundred Dollars ($200)6 per kW of the Expected Nameplate Capacity Rating.

Project Development Security is the Performance Assurance required of Seller under Section 11.4 (a)(i).

Project Development Security means the Performance Assurance required of Seller, as specified and referred to in Article 4.

Project Development Security has the meaning given to that term in

Project Development Security is an amount equal to one hundred-fifty dollars ($150) per kW of the Nameplate Capacity Rating.8

Project Development Security has the meaning given to that term in Section 7.1.1.