Credit Changes Sample Clauses

Credit Changes. (a) If Seller has provided and is maintaining a Guaranty as part of the Performance Assurance that has resulted in an Applicable PA Amount Reduction and a Credit Event occurs, (i) Seller shall notify Buyer within five (5) Business Days of the occurrence of such Credit Event, (ii) the Applicable PA Amount Reduction shall be Zero Dollars ($0) and (iii) the aggregate amount of the Performance Assurance required to be delivered to Buyer and maintained pursuant to this Agreement shall be increased (with any then-issued Performance Assurance
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Credit Changes. (a) If Seller has provided and is maintaining a Guaranty as part of the Performance Assurance that has resulted in an Applicable PA Amount Reduction and a Credit Event occurs, (i) Seller shall notify Buyer within five (5) Business Days of the occurrence of such Credit Event, (ii) the Applicable PA Amount Reduction shall be Zero Dollars ($0) and (iii) the aggregate amount of the Performance Assurance required to be delivered to Buyer and maintained pursuant to this Agreement shall be increased (with any then-issued Performance Assurance increased within five (5) Business Days of the occurrence of such Credit Event) to account for the elimination of the Applicable PA Amount Reduction. (b) If Seller has provided and is maintaining a Guaranty as part of the Performance Assurance that has resulted in an Applicable PA Amount Reduction and Seller Parent Guarantor has an Accepted Agency Rating and there is a subsequent downgrade by S&P and/or Moody’s of one or more of the Seller Parent Guarantor credit ratings that fall within the definition of “Accepted Agency Rating” but the requirements for Seller Parent Guarantor having an Accepted Agency Rating remain satisfied, (i) Seller shall notify Buyer within five (5) Business Days of the occurrence of such downgrade, (ii) the Applicable PA Amount Reduction shall be reduced as a result of such downgrade if and to the extent the cap on the Applicable PA Amount Reduction specified in the definition of “Applicable PA Amount Reduction” would require an increase to the Performance Assurance provided by Seller, and (iii) if the effect of clause (ii) would require an increase to the Performance Assurance provided by Seller, then within five (5) Business Days of the downgrade in Seller Parent Guarantor’s Accepted Agency Rating, the aggregate amount of the Performance Assurance required to be delivered to Buyer pursuant to this Agreement shall be increased by an amount that will cause the aggregate amount of the Performance Assurance delivered to Buyer pursuant to this Agreement to equal the Required PA Amount. (c) If, at the time a Guaranty is provided, Seller Parent Guarantor has one or more of the Seller Parent Guarantor credit ratings that fall within the definition of “Accepted Agency Rating” but does not have an Accepted Agency Rating and Buyer has granted, in the exercise of its sole and absolute discretion, to Seller an Applicable PA Amount Reduction determined to be appropriate by Buyer in its sole and absolute discreti...
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Credit Changes. The credit to be allowed for a deletion or change in the Work or Services which results in a net decrease in the Allowable Cost, Expected Cost, the Target Cost, or the EMP shall be actual net decrease in the Cost of the Work calculated according to this Article. When both additions and credits covering related Work, Services or substitutions are involved in any change in the Work or Services, adjustment of the Allowable Cost, Expected Cost, the Target Cost, and the EMP shall be figured on the basis of net increase, if any, with respect to such change in the Work or Services.
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Credit Changes. All credit lines and terms extended by Seagate Software to Distributor under this Agreement, as set forth above or as hereinafter granted, are subject to modification or withdrawal in the manner and on the terms set forth in Section 6.3.
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Credit Changes. (a) If Seller has provided and is maintaining a Guaranty as part of the Performance Assurance that has resulted in an Applicable PA Amount Reduction and a Credit Event occurs, (i) Seller shall notify Buyer within five (5) Business Days of the occurrence of such Credit Event, (ii) the Applicable PA Amount Reduction shall be Zero Dollars ($0) and (iii) the aggregate amount of the Performance Assurance required to be delivered to Buyer and maintained pursuant to this Agreement shall be increased (with any then-issued Performance Assurance increased within five (5) Business Days of the occurrence of such Credit Event) to account for the elimination of the Applicable PA Amount Reduction. (b) If Seller has provided and is maintaining a Guaranty as part of the Performance Assurance that has resulted in an Applicable PA Amount Reduction and Seller Parent Guarantor has an Accepted Agency Rating and there is a subsequent downgrade by S&P and/or Xxxxx’x of one or more of the Seller Parent Guarantor credit ratings that fall within the definition of “Accepted Agency Rating” but the requirements for Seller Parent Guarantor having an Accepted Agency Rating remain satisfied, (i) Seller shall notify Buyer within five (5) Business Days of the occurrence of such downgrade, (ii) the Applicable PA Amount Reduction shall be reduced as a result of such downgrade if and to the extent the cap on the Applicable PA Amount Reduction
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Credit Changes. (a) If a Credit Event occurs (i) Seller shall notify Buyer within ten five (105) Business Days of the occurrence of such Credit Event, (ii) the Applicable PA Amount Reduction shall be Zero Dollars ($0) and (iii) the aggregate amount of the Performance Assurance required to be delivered to Buyer and maintained pursuant to this Agreement shall be increased (with any then-issued Performance Assurance increased within ten five (105) Business Days of the occurrence of such Credit Event) to account for the elimination of the Applicable PA Amount Reduction. (b) If a Credit Event has occurred but is no longer in effect (i) Seller shall notify Buyer within ten five (105) Business Days of the date such Credit Event is no longer in effect,
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Credit Changes. The credit to be allowed for a deletion or Change which results in a net decrease in the PCE shall be actual net decrease, calculated according to this Article. When both additions and credits covering related Work or substitutions are involved in a Change, CM/GC's Fee shall be figured on the basis of net increase, if any, with respect to that Change.
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Related to Credit Changes

  • Shift Changes When an employee is assigned to a specific shift and that assignment is changed, the employee shall be given seven (7) calendar days’ notice prior to the change.

  • Account Changes Neither the Financial Institution nor the Grantor will change the name or account number of a Collateral Account without the consent of the Secured Party. The Financial Institution will promptly notify the Servicer of any changes. This Agreement will apply to each successor account to a Collateral Account, which will also be a Collateral Account.

  • Letter of Credit Compliance Notwithstanding any other provision of this Agreement, the Servicer shall comply with all the requirements of any Letter of Credit so as to assure the full benefit of such Letter of Credit to the Trustee.

  • Circumstances Affecting LIBOR Rate Availability In connection with any request for a LIBOR Rate Loan or a conversion to or continuation thereof, if for any reason (i) the Administrative Agent shall determine (which determination shall be conclusive and binding absent manifest error) that Dollar deposits are not being offered to banks in the London interbank Eurodollar market for the applicable amount and Interest Period of such Loan, (ii) the Administrative Agent shall determine (which determination shall be conclusive and binding absent manifest error) that reasonable and adequate means do not exist for the ascertaining the LIBOR Rate for such Interest Period with respect to a proposed LIBOR Rate Loan or (iii) the Required Lenders shall determine (which determination shall be conclusive and binding absent manifest error) that the LIBOR Rate does not adequately and fairly reflect the cost to such Lenders of making or maintaining such Loans during such Interest Period, then the Administrative Agent shall promptly give notice thereof to the Borrower. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, the obligation of the Lenders to make LIBOR Rate Loans and the right of the Borrower to convert any Loan to or continue any Loan as a LIBOR Rate Loan shall be suspended, and the Borrower shall either (A) repay in full (or cause to be repaid in full) the then outstanding principal amount of each such LIBOR Rate Loan together with accrued interest thereon (subject to Section 5.1(d)), on the last day of the then current Interest Period applicable to such LIBOR Rate Loan; or (B) convert the then outstanding principal amount of each such LIBOR Rate Loan to a Base Rate Loan as of the last day of such Interest Period.

  • Procedures for Issuance and Amendment of Letters of Credit; Auto-Renewal Letters of Credit (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a L/C Request and Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Borrower. Such L/C Request and Letter of Credit Application must be received by the L/C Issuer and the Administrative Agent not later than 12:00 noon at least three (3) Business Days prior to the proposed issuance date or date of amendment, as the case may be, or such later date and time as the L/C Issuer may agree in a particular instance in its sole discretion. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; and (G) such other matters as the L/C Issuer may reasonably request. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the L/C Issuer: (A) the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may reasonably request. (ii) Promptly after receipt of any L/C Request and Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent (in writing) that the Administrative Agent has received a copy of such L/C Request and Letter of Credit Application from the Borrower and, if not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Upon receipt by the L/C Issuer of confirmation from the Administrative Agent that the requested issuance or amendment is permitted in accordance with the terms hereof (such confirmation to be promptly provided by the Administrative Agent), then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be. Immediately upon the issuance of each Letter of Credit, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer an unfunded risk participation in such Letter of Credit in an amount equal to the product of such Lender’s Pro Rata Share times the amount of such Letter of Credit. (iii) If the Borrower so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole and absolute discretion, agree to issue a Letter of Credit that has automatic renewal provisions (each, an “Auto-Renewal Letter of Credit”); provided that any such Auto-Renewal Letter of Credit must permit the L/C Issuer to prevent any such renewal at least once in each twelve month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Nonrenewal Notice Date”) in each such twelve month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for any such renewal. Once an Auto-Renewal Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the renewal of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided that the L/C Issuer shall not permit any such renewal if (A) the L/C Issuer has determined that it would have no obligation at such time to issue such Letter of Credit in its renewed form under the terms hereof (by reason of the provisions of Section 2.03(a)(ii) or otherwise), or (B) it has received notice (which shall be in writing) on or before the day that is five (5) Business Days before the Nonrenewal Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such renewal or (2) from the Administrative Agent, any Revolving Credit Lender or the Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied. (iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment.

  • Rate Changes Pricing is fixed for the base term of the Agreement. Thereafter, Firm may request an increase to hourly rates to account for changes in the market prices for legal services. Any increase is subject to Citizens’ approval at Citizens’ sole discretion, and must be evidenced by a formal amendment to this Agreement. Price adjustments shall not be applied retroactively. Alternative fee arrangements must be pre-approved by Citizens in writing.

  • Credit Structure If the PTD Service Level Standard is not met, it is a Service Issue and is considered a Service Restoration Priority 2. If the PTD metric for a pair of Customer Connections or Customer Sites is not being met, Customer may be eligible for a credit. To obtain a credit, a trouble ticket must be opened with Verizon when a PTD Service Level Standard is not being met or if a Service Issue is identified. Verizon will work with Customer to confirm that a PTD issue exists and repair the problem(s), as applicable. Once Verizon confirms that the PTD Service Level Standard is not being met, Verizon will have 30 calendar days to repair the Service to meet the PTD Service Level Standard and close the applicable trouble ticket, and in such an event, Customer will not be eligible for a credit. If, after 30 calendar days of opening the trouble ticket, the PTD Service Level Standard continues to not be met, Customer will qualify for a credit. Customer’s measurement of PTD prior to opening a trouble ticket may be considered by Verizon in determining the need to repair the Service. Packet Transit Delay (PTD) 20% 5.4.4.1 Service Issues occur between pair Ports of the Private IP Network. Consequently, two Customer connections will be impacted by each Service Issue. For Service Issue Service Level Standard credit purposes, the MRC will be defined as the average of the MRCs for each of the two impacted Customer Connections.

  • OFFSET CREDIT/COOPERATION This Contract has been entered into in direct support of LOCKHEED XXXXXX'x international offset programs. All offset benefit credits resulting from this Contract are the sole property of LOCKHEED XXXXXX to be applied to the offset program of its choice. SELLER shall assist LOCKHEED XXXXXX in securing appropriate offset credits from the respective country government authorities.

  • Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Borrower. Such Letter of Credit Application may be sent by facsimile, by United States mail, by overnight courier, by electronic transmission using the system provided by the L/C Issuer, by personal delivery or by any other means acceptable to the L/C Issuer. Such Letter of Credit Application must be received by the L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H) such other matters as the L/C Issuer may require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the L/C Issuer may require. Additionally, the Borrower shall furnish to the L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent may require. (ii) Promptly after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from any Revolving Credit Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance of each Letter of Credit, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Revolving Credit Lender’s Applicable Revolving Credit Percentage times the amount of such Letter of Credit. (iii) If the Borrower so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole and absolute discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving Credit Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted, or would have no obligation at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven Business Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Required Revolving Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Revolving Credit Lender or the Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension. (iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment.

  • CEO Changes The HSP will immediately notify the Funder if it becomes aware that the HSP’s CEO will depart the organization.

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