Posting Margin and Return of Surplus Margin. (a) If at any time and from time to time during the term of Transaction(s) under this Agreement, the Total Exposure Amount, rounded by the Rounding Amount, exceeds the DS Supplier’s or the Guarantor’s credit limit by the Minimum Transfer Amount, then the Company on any Business Day, may request that the DS Supplier provide cash or a letter of credit in an acceptable form as defined in Section 6.7(b) of this Agreement (see standard format in Appendix F), in an amount equal to the Margin (less any performance assurance collateral for Margin posted by the DS Supplier and held by the Company pursuant to this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply). If the DS Supplier receives written notice for performance assurance collateral to cover Margin from the Company by 1:00 p.m. New York time on a Business Day, then the DS Supplier shall post performance assurance collateral to cover Margin the next following Business Day, if posting cash, and by the second Business Day following the date of notice, if posting a letter of credit, unless the Company agrees in writing to extend the period to provide performance assurance collateral to cover Margin. If the DS Supplier receives notice for Margin from the Company after 1:00 p.m. New York time on a Business Day, whether posting cash or a letter of credit, then the DS Supplier must post performance assurance collateral to cover Margin the second Business Day following the date of notice unless the Company agrees in writing to extend the period to provide performance assurance collateral to cover Margin. The Company will not unreasonably deny a request for a one-day extension of such period. In the event that the DS Supplier fails to post performance assurance collateral to cover Margin when due in accordance with this Section 6.5, then an Event of Default under Article 5 of this Agreement will be deemed to have occurred and the Company will be entitled to the remedies set forth in Article 5 of this Agreement.
(b) Surplus Margin being held by the Company that is not needed to satisfy the Total Exposure Amount, as determined above, will be returned to the DS Supplier upon receipt of a written request by the DS Supplier. Surplus Margin means cash or a letter of credit posted by the DS Supplier as a result of a request by the Company pursuant to Section 6.5(a) that exceeds the Total Exposure Amount less the DS Supplier’s or the Guarantor’s credit limit (rounded...
Posting Margin and Return of Surplus Margin. (i) If at any time during the Term, the Total Exposure Amount exceeds the BGS-FP Supplier’s Credit Limit, then each of the Companies, on any Business Day, may request that the BGS-FP Supplier provide Margin in the form of cash or a Letter of Credit (a “Margin Call”). The Margin requirement will be rounded up to the nearest $100,000.
(ii) If the BGS-FP Supplier receives written notice for Margin from each of the Companies by 1:00 p.m. EPT on a Business Day, then the BGS-FP Supplier shall post Margin the immediately following Business Day if posting cash, and the second Business Day if posting a Letter of Credit; provided, however, that one or more of the Companies may agree in writing to extend the period to provide Margin. If the BGS-FP Supplier receives notice for Margin from one or more of the Companies after 1:00 p.m. EPT on a Business Day, then the BGS-FP Supplier must post Margin the second Business Day following the date of notice unless each of the Companies agrees in writing to extend the period to provide Margin. None of the Companies will unreasonably deny a request for a one (1) Business Day extension of such period. In the event that the BGS-FP Supplier fails to provide Margin when due, then an Event of Default under Article 5 will be deemed to have occurred and each of the Companies will be entitled to the remedies set forth in Article 5.
(iii) Any cash or a Letter of Credit held by or for the benefit of one or more of the Companies in excess of the required Margin (“Surplus Margin”), as determined above, will be returned to the BGS-FP Supplier upon receipt of a written request by the BGS-FP Supplier. If the BGS-FP Supplier posted cash and notice is received by 1:00 p.m. EPT on a Business Day, the Surplus Margin will be returned by the immediately following Business Day. If the BGS-FP Supplier posted cash and notice is received by each of the Companies after 1:00 p.m. EPT on a Business Day, the Surplus Margin shall be returned by the second Business Day following the date of notice. If the BGS-FP Supplier posted a Letter of Credit to secure its Margin requirement, the Surplus Margin shall be returned on the next Business Day following the Business Day on which the BGS-FP Supplier’s written request for its return is received by each of the Companies. Each of the Companies may satisfy its obligation to return Surplus Margin included in a Letter of Credit posted by the BGS-FP Supplier by signing and transmitting by telecopy to the issuing bank a ...
Posting Margin and Return of Surplus Margin. (a) If at any time and from time to time during the term of this Agreement, the Total Exposure Amount, rounded by the Rounding Amount, exceeds the DS Supplier’s or the Guarantor’s credit limit by the Minimum Transfer Amount, then the Company on any Business Day, may request that the DS Supplier provide cash or a letter of credit in an acceptable form as defined in Article 6.7(b) of this Agreement (see standard format in Appendix F), in an amount equal to the Margin (less any Margin posted by the DS Supplier and held by the Company pursuant to this Agreement or any other agreement(s) between the Company and the DS Supplier for the provision of DS Supply). If the DS Supplier receives written notice for Margin from the Company by 1:00
Posting Margin and Return of Surplus Margin. (i) 6.1.a. If at any time during the Term, the Total Exposure Amount exceeds the BGS-FP Supplier’s Credit Limit, then the Companies, on any Business Day, may request that BGS-FP Supplier provide Margin in the form of cash or a Letter of Credit, in an amount equal to the Margin Requirement (a “Margin Call”). The Margin Requirementrequirement will be rounded up to the nearest $100,000.
Posting Margin and Return of Surplus Margin.
(a) If at any time and from time to time during the term of this Agreement, the Total Exposure Amount, rounded by the Rounding amount, exceeds the DS Supplier’s or the Guarantor’s credit limit by the Minimum Transfer Amount (MTA), then the Company on any Business Day, may request that the DS Supplier provide cash or a letter of credit in an acceptable form as defined in Article 6.79(b) of this Agreement (see standard If the DS Supplier receives written notice for Xxxxxx from the Company by 1:00
