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ORDER NO. PSC -2023 -0180 -PAA -EQ
<br />DOCKET NO. 20230046 -EQ
<br />PAGE 15
<br />(Continued from Sheetl±tlt,M)
<br />Attachment A
<br />Page 10 of 42
<br />Mnth Revised Sheet
<br />Caneeb Eighth Revised Sheet
<br />"Mog&V means Moody's Investors Service„ Inc .or its successor.
<br />"S&P" means Standard & Poois Ratings Groin (a# kdion of The McGraw-Hill Companies, Inc.) or its sucoemor.
<br />12 Ylte specific security instnrment.prt>egl,, WOU poses oftlus
<br />() Letter ztfGnedit:
<br />t;) i*,ash CoDsttsal.
<br />93 VL shall have do right to monitor t a)`fhe 5ltancial condition ofthe issuer of a Letter cif Credit in the event any Letter of
<br />Credit is provided` the QS, and (h) the insurer, in the case of any Bond. In event the issuer of a Letter of Credit no longer qualifies as
<br />Qualified Issuer or the issuer of a HoW is no longer financially sound, FPL may require the QS to replace the Letter of Credit or the Bond, as'
<br />applicable. Such replacement Letter of Credit or bond must be issued by Qualified Issuer or afinancially sound issues, as applicable, within:
<br />tea (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 grounds for FPL to draw'it> ,Hitt 90 the existing Leiier ggtedit q bond and to exercise any other,
<br />remedies it may have hereunder,
<br />9.4 Notwithstanding the foregoing; provisions of this Sec*x 4. pzxxtnttv YPSCUe 25,17:091(4), F:A.C., a 'QS
<br />qualifying as a "Solid Waste Facility Purstts �¢ iia 709(3) or. ely, ritayusoanunsecured written commitment or
<br />promise to pay in a form reasonably acceptabl$ to'1 9ne local gov the Facility er on whose behalf the QS operates
<br />the Facility, to secure its obligation to achieve on a timely basis the Capacity Delivery Date and flte;satisfactory performance of its
<br />Oligations;hereunder,
<br />9 S FPL sNa$ ettfbled to •haw tfye Corti}iletltm/Perforrttortcd° SecuYity"to satrsi' any vbligrit ch or liabilityot`%, arising
<br />pitrsnant tn:this Contract,
<br />9.541 lithe QS fails to achieve the Capacity Delivery Date on or before the in-service date of the Avoided Unit Or such later
<br />Ate as permitted by FPL pursuant to Section 5. 6, FPL shall be entitled immediately to receive, draw upon, or retain, as the case may be, one -
<br />hundred (100,14) ofthe Completion/ Performance Security as liquidated damages free from any claim or right of any nature whatsoever ofthe
<br />QS, including any equity or tight of redemption by the QS. The Parties acknowledge that the injury that FPL will suffer as a result of delayed
<br />milability of Committed Capacity and energy is difficult to ascertain and that FPL may accept such aums,as liquidated damages and resort
<br />tpiogftremedies wbi*rtlay,,4vailabletoitunder, :IWorinequity.
<br />941 btAW O M thK FPL requires theOft"to Committed Capacity Test(s) At ; . O6A, the
<br />firstartmtireixa;ybfrhe doacity Delivery Date pursuant to Section 5.3 and,in wrinection with any such Committed Capacity Testis), tl"x QS
<br />fails to demonstrate a Capacity of at least: one -hundred percent (I 009(s) 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 (100%) 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 the QS.
<br />().53 QS shall promptly, but in no event more than five (5) business days followin& the Completion/Performance;
<br />Security; kolenish the Completion/Performance Security to the amounts required herein.
<br />9;6 The QS, as the Pledgor of the Completion/Performance Security, hereby pledges to FPL, as the secured Party, as: security
<br />Por the achievement ofthe Capacity Delivery Date and; satisfactory performance of its obligations hereunder, and grants to FPL a.firstpriority
<br />continuing security interest in, lien on and right of set-off against all Completicri/Performance Security transferred to or received by FPL;
<br />hereunder. Upon the transfer or return by FPL to the QS of Completion/Performance Security, the security interest and lien granted
<br />"hereunder on that Completion/Performance Security will be released immediately and, to the extent possible, without any further action by
<br />ether patty.
<br />!Continued on SheetALO
<br />.............._._.............
<br />Issued by: Tiffany Cohen, ]
<br />Effective: June 5, 2018
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