Administration of Cash Collateral. B. Party B Eligibility to Hold Cash. [x] Party B shall be entitled to hold Performance Assurance in the form of Cash provided that the following conditions are satisfied: (1) it is not a Defaulting Party and no Material Adverse Change has occurred with respect to Party B; (2) Performance Assurance shall be held only in any jurisdiction within the United States; and (3) Performance Assurance shall be held only by a Qualified Institution. To the extent Party B is entitled to hold Cash, the Interest Rate payable to Party A on Cash shall be as selected below:.
Appears in 9 contracts
Samples: Confirmation Agreement, Confirmation Agreement, Confirmation Agreement
Administration of Cash Collateral. B. Party B Eligibility to Hold Cash. [x] Party B shall be entitled to hold Performance Assurance in the form of Cash provided that the following conditions are satisfied: (1) it is not a Defaulting Party and no Material Adverse Change has occurred with respect to Party B; (2) Performance Assurance shall be held only in any jurisdiction within the United States; and (3) Performance Assurance shall be held only by a Qualified Institution. To the extent Party B is entitled to hold Cash, the Interest Rate payable to Party A on Cash shall be as selected below:.
Appears in 4 contracts
Samples: Confirmation Agreement, Confirmation Agreement, Confirmation Agreement
