Required PA Amount definition
Examples of Required PA Amount in a sentence
Any Letter of Credit provided as Performance Assurance shall have an expiration date no sooner than 364 days after issuance, and Seller shall extend or replace (with other Performance Assurance with undrawn capacity equal to the Required PA Amount) such Letter of Credit by the date that is thirty (30) days prior to the expiration thereof.
In addition to the replacement Performance Assurance that may be required pursuant to the preceding sentence, Seller shall, at any time and from time to time, have the right to replace the Performance Assurance in effect at such time with other Performance Assurance having an undrawn capacity equal to the Required PA Amount.
No later than three (3) Business Days following written notification from Buyer to Seller of any draw on any Performance Assurance, Seller shall replenish the Performance Assurance to an undrawn capacity equal to the Required PA Amount.
No later than three (3) Business Days following written notification from Buyer to Seller of any draw on any Performance Assurance or the Guaranty, Seller shall replenish the Performance Assurance to an undrawn capacity equal to the Required PA Amount.