Cost and Proceeds of Credit Support Sample Clauses

Cost and Proceeds of Credit Support. All costs associated with obtaining any credit support required by Section 16.2 hereof shall be the sole responsibility of the T&D. The Provider may use, apply or retain the whole or any part of the proceeds of credit support issued in its favor for the payment of amounts owed by the T&D hereunder.
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Cost and Proceeds of Credit Support. All costs associated with obtaining any credit support required by Sections 5.1, 5.2 or 5.3 shall be the sole responsibility of the Party which caused such credit support to be issued. The Non-Defaulting Party hereunder may use, apply or retain the whole or any part of the proceeds of credit support issued in favor of such Non-Defaulting Party for the payment of amounts owed pursuant to Article 3.
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Cost and Proceeds of Credit Support. All costs associated with obtaining any credit support required by Sections 6.1 or 6.2 shall be the sole responsibility of the Seller.
Sample 1

Related to Cost and Proceeds of Credit Support

  • CONCENTRATIONS OF CREDIT (1) Within sixty (60) days, the Board shall adopt, implement, and thereafter ensure Bank adherence to a written asset diversification program consistent with OCC Banking Circular 255. The program shall include, but not necessarily be limited to, the following:

  • Letters of Credit (a) The Letter of Credit Commitment.

  • Letter of Credit Fees The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance, subject to Section 2.16 with its Applicable Revolving Credit Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Revolving Lenders, while any Event of Default exists, all past due Letter of Credit Fees shall accrue at the Default Rate.

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