Common use of Delivery of Eligible Credit Support Clause in Contracts

Delivery of Eligible Credit Support. Subject to Clause 8, should a Transferor receive a request for Eligible Credit Support in accordance with Clause 3.1, then the Transferor shall transfer to the Transferee the requested Eligible Credit Support not later than close of business on three (3) Business Days following such request by either: (a) transferring Cash to the account of the Transferee specified in Clause 13; or (b) providing a Letter of Credit.