Credit Support Amount Clause Samples

Credit Support Amount. Credit Support Amount" shall be the greatest of (a) the S&P Credit Support Amount, (b) the Fitch Credit Support Amount, and (c) the ▇▇▇▇▇'▇ Credit Support Amount.

Credit Support Amount. The Credit Support Amount equals the Exposure of X after adjusting for any ap- plicable Independent Amount(-s) and after taking into account any Threshold Amount applying to Y. The Credit Support Amount shall thus be calculated as shown below. If this calculation produces a negative number, the Credit Support Amount shall be 0: a) X's Exposure (positive or negative) b) Plus any Independent Amount applicable to Y c) Minus any Independent Amount applicable to X d) Minus any Threshold Amount for Y.

Credit Support Amount. (i) Within thirty (30) days following the Effective Date, Seller shall transfer Credit Support to Buyer having an aggregate value equal to (A) $200 multiplied by (B) the Guaranteed Storage Contract Capacity, expressed in kW (the “Pre-COD Credit Support Amount”). The Pre-COD Credit Support Amount will apply with respect to Seller until the Commercial Operation Date. (ii) By no later than the Commercial Operation Date, Seller shall transfer Credit Support to Buyer in substitution of the Credit Support delivered pursuant to Section 6.1(a)(i) having an aggregate value equal to (A) $100 multiplied by (B) the Storage Contract Capacity, expressed in kW (the “Operating Period Credit Support Amount”).

Credit Support Amount shall not have the meaning specified in Paragraph 3(b) and, instead, will have the following meaning:

Credit Support Amount for a Valuation Date shall mean zero; provided that, if the Threshold in respect of Party A is zero on such Valuation Date, "Credit Support Amount" shall mean one of the following if one of the following specified events have occurred on such Valuation Date:

Credit Support Amount. The Credit Support Amount shall be determined from time to time by multiplying the Lease Quantity specified in Exhibit B as to each Lease Rate by the corresponding Lease Rate and the product of each such calculation summed to determine the amount of Monthly Lease Charges that would be applicable over a twelve-month period. Not less than twelve months prior to the Commencement Date, MEP shall either establish that it is creditworthy or shall provide Credit Assurances in the amount of the Credit Support Amount. On or after the Commencement Date, MEP shall adjust the stated amount of the Credit Assurances theretofore provided to Enogex to ensure that the Credit Assurances have a stated amount of not less than the Credit Support Amount calculated with reference to the then-applicable Lease Charges and the corresponding Lease Quantities specified in Exhibit B for a period of the next succeeding twelve (12) months. The Credit Support Amount shall thereafter be adjusted within ten (10) days of any applicable change in the Lease Quantities or Lease Charges reflected in Exhibit B. Upon any draw against a letter of credit or withdrawal of a cash deposit by Enogex, or the occurrence of any event that results in the credit support theretofore provided by MEP or a Credit Support Provider no longer satisfying the requirements of this Article XII, MEP shall within two (2) business days cause the letter of credit or cash deposit, after giving effect to such draw or withdrawal, to be replenished or replaced, as the case may be, so as to be in an amount equal to the charges applicable to the Leased Capacity for a period of the immediately succeeding twelve (12) months. Any credit support furnished in the form of cash or a letter of credit may be terminated by or shall be returned to MEP at such time as (i) MEP or its parent (if the parent is providing a payment guaranty to Enogex as a Credit Support Provider) or the parent company of one or more of MEP’s members (if such company is providing a payment guaranty to Enogex as a Credit Support Provider) has an Investment Grade credit rating (as defined above) and (ii) MEP or its Credit Support Provider, as the case may be, have furnished a guaranty reasonably satisfactory to Enogex. At any time that any such payment guaranty is being provided, such payment guaranty may be terminated by MEP at such time as MEP has an Investment Grade credit rating.

Credit Support Amount