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ORDER NO. PSC -2020 -0212 -PAA -EQ
<br />DOCKET NO. 20200114 -EQ
<br />PAGE 16
<br />FT ORii)A.POWER & KIGTITICOMTANY
<br />Attachment A
<br />Nitith;Revised Sheet No. 9.037
<br />Cancels Eighth Revised Sheet No. 9.037
<br />(Continued from Sheet No. 9.036)
<br />".Moodv's"Means Moody's Investors Service, Inc. or its successor.
<br />"S&P" means Standard & 1'oor's Ratings Group (a division ofThmMcGraw-Hill Companies, Inc.) or its successor -
<br />4 2 The speci fie sceurity;instrument provided for ptvposcs of this Contract is;.
<br />( ) Letter of Credit.
<br />() Bond.
<br />( )Cash Collateral.
<br />93 PPL shall have the right to monitor (a) the financial condition of the issuerof a Letter of Creditinthe event any Letter of
<br />Credit is:provided by the QS, and (b) the.inaurer, in the case of any Hond. In the event the issuer of a .Letter of Creditno Ionger.qualifics as
<br />Qualified issiier or the issuer ofa Bond is On longer f nanicially soiinii FPI, ntay require the QS to replace the 1 efterof Credit. or the Dont; as
<br />applicable. Stich replacement Letter of Credit or bond must be issued by a Qualified issuer or a financially soutdissues, as applicable, within
<br />ten (10) business days following written notification to the QS of the requirement to replace. Failure by the QS to comply with the
<br />requirements of this Section 9.3 shall. be Menials for FPL to draw in full on the e'asting Letter of Credit or bond and to exercise any other
<br />mmcdics it may have hereunder.
<br />9.4 Notwithstanding t e foregoing provisions of this Section 9, pursuant ,to FPSC'Rule 25-17.091(4), F.A.C., a QS
<br />qualifying as a "Solid. Waste Facility" priisusut to Section 377.709(3) or (5), F S ,•respectively, may use sit in sect red written couuruhnent or
<br />promise to pay in a fort reasonably acceptable to FPL, by the local government which Duni the Facility or on whose behalf the QS operates
<br />the Facility, to secure its obligation to achieve on a timely basis the Capacity DeliveryDate and the 'satisfactory performance of its
<br />obligations hereunder.
<br />9.5 FPL shall be entitled to drain the Completion/Perfornance Steady to satisfy an obligation our liability of QS arising
<br />pirsuant to this Contract.
<br />9.5.1 If the QS fails to achieve the Capacity Delivery Date on or before the in-service date of the Avoided Unit or such later
<br />dates; perniitted by FPI. prin rant fo Section S.6, FPI, sbaf I be entitled immediately JO receive, draw upon, or retain as the case maybe, ono-
<br />hundred (100%) of the Completion! Performance Security as liquidated damages free froth any claim or right of any nature whatsoever of the
<br />QS, including any equity or right of redemption by the QS. The Parties acknowledge that the injury that FI'I, will suffer as a result of delayed
<br />availability of Committed Capacity and energy is difficult It to ascertain and that FPL may accept such sums as liquidated damages and resort
<br />to any other remedies which may be available to it under law or inequity.
<br />9,5.2 In the event that FPL requires the QS to perform one or more Committed Capacity Test(s) at any time on or before the
<br />first anniversary of the CapacityDclivery Date pursuant to Section 53 and, in connection with any such Committed Capacity'1cst(s), the, QS
<br />fails to demonstrate a Capacity of aat least one- hundred percent (100°0) of the Committed Capacity set. forth in Section 5.1, FPL shall be
<br />entitled immediately to receive, draw upon, or retain, as the case may be, one -hundred percent (l00%) of the Completion/Performance
<br />Security as liquidated damages free from any claim or right of any nature whatsoever of the QS, including any equity or right of redemption
<br />by ilia QS.
<br />9.5.3 " QS shall promptly, but in no event more than five (5) business days following any draws on the ContpletioMperformance
<br />Seeimly, replenish the Coiipleheit9'crfbunancc Security to the artibunts required herein.
<br />9.6 The QS, es the Pledgor of the Cornplefion/Perfomsa nce, Security, hereby pledges to FPL, as the secured Party, as security
<br />for the achievement of the Capacity Delivery Date and satisfactory p erfonnance of its obligations hereunder, and grants to FPL a first priority
<br />continuing security interest in, lien on and right of set-off against all Completion/Performance Security transferred to or received by FPL
<br />hereunder. Upon the transfer or rehrn by FPI, to. the QS of CompletionTerforntance Security, the security interest and lien granted
<br />hereunder oat that Completion!Petformnitee Seciirity.will be released immediately end, to the extent possible; without any farther action by
<br />either party.
<br />(Continued on Shat No. 9.038)
<br />Issued by: Tiffany Cohen, Director, Rates and Tariffs
<br />Effective: June 5,2018
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