Initial Credit Support Clause Samples
Initial Credit Support. On the date of this Agreement, the Debtor is transferring, or causing to be transferred, into the Collateral Accounts Eligible Credit Support having the Value as at the date of this Agreement at least equal to 20/55 of the premia ceded by the Secured Party to the Debtor under the Retrocession Agreement.
Initial Credit Support. Customer shall establish the initial credit support terms and conditions set forth in Section 10.1 of the Base Agreement to ensure payment by Customer, or Customer’s guarantor, if any, of all payments which may become due by Customer pursuant to the terms and conditions of the Agreement, which may include, at Enterprise’s reasonable discretion, a parent guaranty, a Letter of Credit, prepayment or other form of credit support (the “Initial Credit Support”). The Initial Credit Support will be due from Customer at least five (5) Business Days before the first Day of the Confirmed Laycan Window. All bank charges attendant to the Initial Credit Support and all subsequent Adequate Assurances (if any) pursuant to Section 6.2 below will be for the account of Customer.