CALCULATION OF COVER Sample Clauses

CALCULATION OF COVER. 2.1 For the duration of this Agreement, the Company shall calculate and maintain a record of each of the following values with respect to the User, that is to say: (a) the User’s Value at Risk; (b) the User’s Credit Allowance; and (c) the User’s Indebtedness Ratio, in such manner as will enable the Company, upon request by the User, to provide a written and up-to-date statement of such values without delay. 2.1 At any time, subject to paragraph 2.3, the User’s Value at Risk shall be the aggregate of: (a) billed but unpaid Use of System Charges which are not currently subject to a Designated Dispute (as defined in Schedule 4) and which have been billed to the User according to an established billing cycle operated by the Company pursuant to this Agreement; plus (b) the Fifteen Days’ Value, which shall be the estimated value of the Use of System Charges that would be incurred by the User for a further 15 days from that time, based on the average daily Use of System Charges billed to the User during the previous month according to an established billing cycle operated by the Company pursuant to this Agreement; less (c) any credit notes and any amounts paid to the Company by the User in the form of a Prepayment or an Advance Payment.
Sample 1
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CALCULATION OF COVER. 2.1 For the duration of this Agreement, the Company shall calculate and maintain an up-to-date record of each of the following values with respect to the User in compliance with the requirements for such record keeping set out from time to time by the Authority for the purposes of this Schedule: (a) the User’s Value at Risk; (b) the User’s Credit Allowance; and (c) the User’s Indebtedness Ratio, and, upon request by the User, the Company shall without delay provide a written statement of such values.
Sample 1
CALCULATION OF COVER. 2.1 For the duration of this Agreement, the Company shall calculate and maintain an up- to-date record of each of the following with respect to the User in compliance with the requirements for such record keeping set out from time to time by the Authority for the purposes of this Schedule: (a) the User’s Value at Risk; (b) the User’s Credit Allowance; and (c) the User’s Indebtedness Ratio, and, upon request by the User, the Company shall provide a written statement of such calculations as soon as is reasonably practicable, but no later than [10] Working Days from the date of such request. 2.2 The User’s Value at Risk shall, at any time, be the aggregate of: (a) billed but unpaid Use of System Charges which are not currently subject to a Designated Dispute (as defined in Schedule 6) and which have been billed according to an established billing cycle; plus (b) the 15 Days’ Value, which shall be the estimated value of the Use of System Charges that would be incurred by the User for a further 15 days from that time, based on the average daily Use of System Charges actually billed to the User during the previous month; less (c) any credit notes and any amounts paid to the Company by the User in the form of a Prepayment or an Advance Payment. 2.3 Where the User has not incurred Use of System Charges, the Value at Risk shall be set at £1,000. The User’s Credit Allowance 2.4 The User’s Credit Allowance (“CA” here below) shall be calculated according to the following formula: where: CA = RAV × 2% × CAF RAV is the closing balance for the Regulatory Asset Value (having the meaning given to that term in the price control review reporting rules issued by the Authority pursuant to Condition 52 of the Electricity Distribution Licence) as published in the Company’s latest audited regulatory accounts (or, where no Regulatory Asset Value is published, shall be a value to be determined by the Authority as a suitable replacement following consultation with the Company); and 2.5 Where the User has a Credit Rating from an Approved Credit Referencing Agency that is Ba3/BB– or above, CAF shall be determined according to the following table: Credit Rating CAF (%) Xxxxx’x Standard and Poor’s Aa1, Aa2, Aa3 AA / AAA 100 A A 40 Baa1 BBB+ 20 Baa2 BBB 19 Baa3 BBB– 18 Ba1 BB+ 17 Ba2 BB 16 Ba3 BB– 15 2.6 Where the User does not have a Credit Rating that is Ba3/BB– or above, CAF shall be determined as follows: (a) where the User has requested that the Company use an Independent Credit Ass...
Sample 1

Related to CALCULATION OF COVER

  • Verification of Coverage Prior to beginning any work under this Agreement, Consultant shall furnish City with certificates of insurance and with original endorsements effecting coverage required herein. The certificates and endorsements for each insurance policy are to be signed by a person authorized by that insurer to bind coverage on its behalf. The City reserves the right to require complete, certified copies of all required insurance policies at any time.

  • Duration of Coverage Contractor shall procure and maintain for the duration of the contract insurance against claims for injuries to persons or damages to property, which may arise from or in connection with the performance of the work hereunder by Xxxxxxxxxx, his/her agents, representatives, employees, or subconsultants.

  • Termination of Coverage This Contract may be terminated as follows:

  • Continuation of Coverage If your coverage is terminated, you may be eligible to continue your coverage in accordance with state or federal law. In accordance with R.I. General Laws §. 27-19.1, if your employment is terminated due to one of the following reason, your healthcare coverage may be continued, provided that you continue to pay the applicable premiums. • Involuntary layoff or death; • The workplace ceasing to exist; or • Permanent reduction in size of the workforce. The period of this continuation will be for up to eighteen (18) months from your termination date, but not to exceed the period of continuous employment preceding termination with your employer. The continuation period will end for any person covered under your policy on the date the person becomes employed by another group and is eligible for benefits under that group’s plan.

  • Terms of Coverage The plan takes effect upon check-in on the booked arrival date to an iTrip unit. All coverage shall terminate upon normal check-out time of the iTrip unit or the departure of the Covered Guest, whichever occurs first.

  • Construction of Certain Provisions If any provision of this Agreement or any of the Loan Documents refers to any action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person, whether or not expressly specified in such provision.

  • Duration of Covenants The covenants of the Cash Manager in Clause 10.1 (Covenants) shall remain in force until this Agreement is terminated but without prejudice to any right or remedy of the Mortgages Trustee and/or Funding and/or the Security Trustee arising from breach of any such covenant prior to the date of termination of this Agreement.

  • Termination of Covenants The covenants set forth in this Section 5, except for Subsections 5.6, 5.7 and 5.8, shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Amended and Restated Certificate of Incorporation, whichever event occurs first.

  • Construction of Certain Phrases (a) For purposes of this Agreement, references to the “Company” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that if Indemnitee is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee would have with respect to such constituent corporation if its separate existence had continued. (b) For purposes of this Agreement, references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; and references to “serving at the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants, or beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement.

  • Types of Coverage We offer the following types of coverage:

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