Credit Support Annex Sample Clauses
Credit Support Annex. All references to “Paragraph” under this section 8 shall be references to the Credit Support Annex. The following provisions modify and supplement the Credit Support Annex:
Credit Support Annex. The Parties agree to provide each other with Eligible Credit Support according to the following provisions. This shall serve to collateralize outstanding obligations between the Parties from time to time pursuant to the Agreement.
Credit Support Annex. Each credit support annex to the Swap Agreement and the Cap Agreement dated as of January 31, 2007, between the Supplemental Interest Trust and the Swap Counterparty and Cap Counterparty, as applicable.
Credit Support Annex. The Collateral Threshold shall be a negotiated amount based on Debtor’s S&P and/or Xxxxx’x rating, or other financial criteria. The Collateral Threshold shall be considered when establishing the total Credit Limit and shall be evaluated in the aggregate with physical transactions.
Credit Support Annex. Elections and Variables between and
Credit Support Annex. The provisions of this Credit Support Annex shall apply to the extent the Parties have elected on the Schedule to make them applicable. Upon the occurrence of any Event of Default under this Credit Support Annex, such event shall constitute an Event of Default pursuant to Article 5 of the Master Agreement.
Credit Support Annex. Cross Default for Party A: Applicable Inapplicable If applicable, complete the following: Party A: Cross Default Amount: ___________ If applicable, complete the following: Other Person: Name of other Person: Enron Corp. Cross Default Amount: U.S. $100,000,000 Cross Default for Party B: Applicable Inapplicable If applicable, complete the following: Party B: Cross Default Amount: AUD 500,000 If applicable, complete the following: Other Person: Name of other Person: Cross Default Amount: __________ Applicable Inapplicable If applicable, complete the following: Party A Collateral Threshold: AUD 10,000,000 Party A Rounding Amount: AUD 250,000 Applicable Inapplicable If applicable, complete the following: Party B Collateral Threshold: AUD 1,000,000 Party B Rounding Amount: AUD 250,000 Party A Guarantor: Applicable Inapplicable Party A: If applicable, Party A’s Guarantor: Enron Corp. If applicable, minimum guaranty amount: AUD 10,000,000 Party B Guarantor: Applicable Inapplicable Party B: If applicable, Party B’s Guarantor: ___________________________ If applicable, minimum guaranty amount: ___________________________
Credit Support Annex. The Securities Administrator is hereby directed to perform the obligations of the Custodian as defined under the Credit Support Annex (the “Derivative Custodian”). The Derivative Custodian shall have a long-term unsecured and unsubordinated debt rating of at least A+ by S&P and at least A1 by Xxxxx’x. On or before the Closing Date, the Derivative Custodian shall establish a Derivative Collateral Account. The Derivative Collateral Account shall be an Eligible Account. The Derivative Custodian shall credit to the Derivative Collateral Account all collateral (whether in the form of cash or securities) posted by the related Derivative Provider to secure the obligations of the related Derivative Provider in accordance with the terms of the related Derivative Contract. Except for investment earnings, the related Derivative Provider shall not have any legal, equitable or beneficial interest in the Derivative Collateral Account other than in accordance with this Agreement and the related Derivative Contract, as applicable, and applicable law. The Derivative Custodian shall maintain and apply all collateral and earnings thereon on deposit in the Derivative Collateral Account in accordance with the Credit Support Annex. Cash collateral posted by the related Derivative Provider in accordance with the Credit Support Annex shall be invested, at the direction of the related Derivative Provider in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. All amounts earned on amounts on deposit in the Derivative Collateral Account (whether cash collateral or securities) shall be taxable to the related Derivative Provider. Cash collateral on deposit in the Derivative Collateral Account shall be invested in Permitted Investments as directed, in writing, by the related Derivative Provider. In the absence of written direction, cash collateral shall remain uninvested. Upon receipt of a notification of the occurrence of an Event of Default or a Specified Condition (each as defined in the related Derivative Contract), the Derivative Custodian shall withdraw all amounts in the Derivative Collateral Account and apply them to the payment of any termination payment due to Party B (as defined in the related Derivative Contract) in accordance with the Credit Support Annex. Any excess amounts held in such Derivative Collateral Account after payment of all amounts owing to Party B under the related Derivative Contract shall be with...
Credit Support Annex. This Credit Support Annex supplements, forms part of, and is incorporated into the Agreement (as defined in that certain Master Agreement to which this Annex is attached). Capitalized terms used in this Annex but not defined herein shall have the meanings given such terms in the Master Agreement.
Credit Support Annex. (a) For purposes of Paragraph 13 of the Credit Support Annex to the Master Agreement, the “Independent Amount” for this Transaction shall equal the Equity Notional Amount.
(b) Upon a reduction in the Equity Notional Amount pursuant to the terms hereof, and provided all amounts then owing to Party A hereunder have been paid and there is no Event of Default or Potential Event of Default then outstanding with respect to Party B, Party A shall direct the Escrow Agent to distribute to Party B from the Collateral Account the Applicable Portion of the Bonds with respect to that reduction in the Equity Notional Amount. If any amounts are owing to Party A hereunder, it may first apply such amounts in reduction of the amount to be distributed to Party B and, in such case, Party A shall direct the Escrow Agent to distribute from the Collateral Account, first to Party A, the amounts owing to it and then to Party B, the amount equal to the Applicable Portion of the Bonds with respect to that reduction in the Equity Notional Amount less the amount distributed to Party A. Party A may defer any distributions to Party B from the Collateral Account for so long as any Event of Default or Potential Event of Default is outstanding with respect to Party B. The “Applicable Portion of the Bonds” with respect to any reduction in the Equity Notional Amount shall mean the portion of the Bonds equal to (i) the amount of Bonds originally deposited in the Collateral Account pursuant to Section 2(a) of the Escrow Agreement multiplied by (ii) a fraction the number of which is the amount of the reduction in the Equity Notional Amount and the denominator of which is the initial Equity Notional Amount of $50,000,000.
(c) Provided the Equity Notional Amount is reduced in accordance with the schedule set forth above under “Other Terms: Adjustment of Number of Shares” as if all applicable conditions thereunder are satisfied at all times, there is no Event of Default or Potential Event of Default with respect to Party B and no other amounts become due to Party A that are distributed to it from the Collateral Account, then the amount of collateral to be released to Party B each month correspond to the percentage as set forth on Schedule A annexed hereto of the Bonds originally deposited in the Collateral Account. Party B shall bear the full risk with respect to any fluctuations in the value of the Bonds.