Common use of Drawdown of Credit Support Clause in Contracts

Drawdown of Credit Support. (a) The Operator may, at any time after the occurrence of a Default Event in respect of a Market Participant and while that Default Event is subsisting, exercise its rights to draw down any amount under a Credit Support relating to that participant and apply it against any amount actually or contingently owing to the Operator under this agreement.

Drawdown of Credit Support. (a) The Operator may, at any time after the occurrence of a Default Event in respect of a Market Participant and while that Default Event is subsisting, exercise its rights to draw down any amount under a Credit Support relating to that participant and apply it against any amount actually or contingently owing to the Operator under this agreement. The Operator must inform the relevant Market Participant if the Operator exercises its rights to draw down any amount under a Credit Support.