DSR Credit Support Sample Clauses

DSR Credit Support. Manager shall cause Sponsor to provide to the lenders under the Financing Documents such DSR Credit Support as may be required thereunder. Sponsor shall be reimbursed from the Company for all reasonable costs and expenses of providing such DSR Credit Support in addition to the payment to the Manager of the Management Fee hereunder. Payment of such costs and expenses to Sponsor shall be made from the time when incurred. To the extent Sponsor is required to pay any amounts under the DSR Credit Support (at any time), such amounts (the “Credit Support Amounts”) shall be considered as a loan to the Company, the principal amount of which shall bear interest at a rate equal to the lesser of (a) the Prime Rate plus 200 basis points per annum compounded monthly, and (b) the maximum rate of interest allowed by applicable law, from the date such Credit Support Amounts are paid under the DSR Credit Support until such time as the Credit Support Amounts are repaid to the Sponsor. Notwithstanding any provision to the contrary set forth herein, repayment of such Credit Support Amounts (together with all accrued and unpaid interest thereon) shall be made prior to the distribution of any Net Cash Flow to the Members.
Sample 1
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DSR Credit Support. Any time a drawing under DSR Credit Support credited to any Debt Service Reserve Account is required to be made pursuant to the terms hereof, drawings shall be made pro rata among all DSR Credit Support with respect to such Debt Service Reserve Account; provided, that, upon any failure by the issuer of any DSR Credit Support to honor such drawing in accordance with the terms thereof, the P1 Collateral Agent shall draw on all other DSR Credit Support pro rata.
Sample 1
DSR Credit Support. (a) At any time after the Project Completion Date, and from time to time, the Borrower may deliver, or cause to be delivered, to the P1 Collateral Agent in respect of any Debt Service Reserve Account one or more instruments of DSR Credit Support pursuant to the P1 Accounts Agreement. The P1 Collateral Agent shall have no duty or obligation to independently determine if any instrument delivered by the Borrower satisfies the requirements set forth in the definitions of the terms “DSR Credit Support”, “DSR LC”, or “DSR Guaranty”, in each case, as set forth in the P1 Accounts Agreement.
Sample 1

Related to DSR Credit Support

  • Credit Support A Credit Support Document between the Parties may apply to obligations governed by the Agreement. If the Parties have executed a Credit Support Document, such Credit Support Document shall be subject to the terms of the Agreement and is hereby incorporated by reference in the Agreement. In the event of any conflict between a Credit Support Document and the Agreement, the Agreement shall prevail, except for any provision in such Credit Support Document in respect of governing law.

  • Credit Support Obligations (i) Delivery Amount, Return Amount and Credit Support Amount.

  • Credit Support Provider Credit Support Provider means in relation to Party A, not applicable. Credit Support Provider means in relation to Party B, not applicable.

  • Certain Credit Support Events If (i) the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, (ii) as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, (iii) the Borrower shall be required to provide Cash Collateral pursuant to Section 2.05 or 8.02(c), or (iv) there shall exist a Defaulting Lender, the Borrower shall immediately (in the case of clause (iii) above) or within one (1) Business Day (in all other cases) following any request by the Administrative Agent or the L/C Issuer, provide Cash Collateral in an amount not less than the applicable Minimum Collateral Amount (determined in the case of Cash Collateral provided pursuant to clause (iv) above, after giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

  • Alternative Credit Support Election (a) The Sellers may elect to effect a change in the calculation of the Class Percentage with respect to Finance Charge Collections during the Early Accumulation Period or the Amortization Period, as set forth in the definition of "Class Percentage," and increase the Available Class B Credit Enhancement Amount, by making an Alternative Credit Support Election. An Alternative Credit Support Election may be made as follows:

  • Collateral for Undrawn Letters of Credit (a) If the prepayment of the amount available for drawing under any or all outstanding Letters of Credit is required under Section 1.8(b), Section 1.14, Section 9.2 or Section 9.3 above, the Borrower shall forthwith pay the amount required to be so prepaid, to be held by the Administrative Agent as provided in subsection (b) below.

  • Credit Support Documents With respect to Xxxxxx, if applicable, any Third Party Credit Support Document delivered by Xxxxxx shall constitute a Credit Support Document. With respect to Xxxxxx and the Counterparty, if applicable, any Approved Credit Support Document shall constitute a Credit Support Document.

  • Credit Support Default (1) Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed by it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed;

  • to Credit Agreement COLLATERAL REPORTS Borrower shall deliver or cause to be delivered the following:

  • Credit Agreement Governs Except as set forth in this Agreement, the New Term Loans shall otherwise be subject to the provisions of the Credit Agreement and the other Credit Documents.

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