Elections and Variables. Security Interest for “Obligations”. The term “Obligations” as used in this Annex includes the following additional obligations: With respect to Party A: None. With respect to Party B: None.
Elections and Variables. (a) Base Currency and Eligible Currency.
Elections and Variables. The following constitutes changes and elections in the Cover Sheet to Paragraph 10 to the Collateral Annex and are the Paragraph 10 Elections referenced in the Collateral Annex. Any elections not included below are inapplicable. The Paragraph 10 to the Collateral Annex is attached as Exhibit E.
(i) Section I, Subsection A is replaced in its entirety, as follows: “
A. Party A Collateral Threshold
Elections and Variables. (a) BASE CURRENCY AND ELIGIBLE CURRENCY.
Elections and Variables. Section I, Subsection A is replaced in its entirety with the following: The Collateral Threshold for Party A shall be (a) the lower of
Elections and Variables. (a) Security Interest for “Obligations”. The term “Obligations” as used in this Annex includes no additional obligations of Secured Party and, for purposes of the definition of Obligations in Paragraph 12, includes no additional obligations of Pledgor.
Elections and Variables. (a) Security Interest for “Obligations”. The term “Obligations” shall have the meaning set forth in Paragraph 12.
Elections and Variables. (a) Security Interest for “Obligations”.
(i) Paragraph 2 is amended by adding, immediately after the words “lien on and right of Set-off against”, the words “the Dexia Collateral Account, and all the property from time to time credited thereto or carried therein, and the proceeds thereof, including without limitation”.
(ii) The term “Obligations” as used in this Annex includes the following additional obligations: With respect to Party A: not applicable. With respect to Party B: not applicable.
(b) Credit Support Obligations.
Elections and Variables. Section I, Subsection A is replaced in its entirety with the following: The Collateral Threshold for Party A shall be (a) the lower of
(i) the amount (the “Collateral Threshold Amount”) set forth below under the heading “Party A Maximum Collateral Threshold Amount” opposite the Credit Rating for [Party A][Party A’s Guarantor] on the relevant date of determination or (ii) the amount of the Guaranty agreement on the relevant date of determination if Party A relies upon a Guarantor, or (b) zero if on the relevant date of determination [Party A][its Guarantor] does not have a Credit Rating from at least one of the rating agencies specified below or an Event of Default or a Potential Event of Default with respect to Party A has occurred and is continuing; provided, however, in the event that, and on the date that, Party A cures the Event of Default or Potential Event of Default on or prior to the date that Party A is required to post Performance Assurance to Party B pursuant to a demand made by Party B pursuant to the provisions of the Collateral Annex on or after the occurrence of such Event of Default or Potential Event of Default, (i) the Collateral Threshold for Party A shall automatically increase from zero to the lower of the applicable Party A Maximum Collateral Threshold Amount or the amount of the Guaranty agreement and (ii) Party A shall be relieved of its obligation to post Performance Assurance pursuant to such demand. Credit Rating of Party A/Party A’s Guarantor Party A Maximum Collateral Threshold Amount S&P Moody’s Xxxxx A- and above A3 and above A- and above $2,500,000 BBB+ Baa1 BBB+ $2,500,000 BBB Baa2 BBB $2,500,000 BBB- Baa3 BBB- $2,500,000 Below BBB- Below Baa3 Below BBB- 0 If Party A, or its Guarantor, is rated by only one rating agency, that rating will be used. If Party A, or its Guarantor, is rated by only two rating agencies, and the ratings are split, the lower rating will be used. If Party A, or its Guarantor, is rated by three rating agencies, and the ratings are split, the lower of the two highest ratings will be used; provided that in the event that the two highest ratings are common, such common rating will be used. The Maximum Collateral Threshold Amount specified in the table above represents the aggregate unsecured credit that Party A (together with its Affiliates) or its Guarantor, as the case may be, may have under the Agreement. The aggregate unsecured credit that Party A (together with its Affiliates) or its Guarantor, as t...
Elections and Variables. 11.1 Base Currency and Eligible Currency.
(a) Base Currency means GBP.
