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. (b) The Operator must inform the relevant Market Participant if the Operator exercises its rights to draw down any amount under a Credit Support.
Appears in 9 contracts
Samples: Gas Supply Hub Exchange Agreement, Gas Supply Hub Exchange Agreement, Gas Supply Hub Exchange 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.
(b) . The Operator must inform the relevant Market Participant if the Operator exercises its rights to draw down any amount under a Credit Support.
Appears in 2 contracts
Samples: Supply Hub Exchange Agreement, Gas Supply Hub Exchange 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.
(b) The Operator must inform the relevant Market Participant if the Operator exercises its rights to draw down any amount under a Credit Support.
Appears in 2 contracts
Samples: Gas Supply Hub Exchange Agreement, Gas Supply Hub Exchange Agreement