Required Credit Support Sample Clauses

Required Credit Support a. GLNG shall, at its sole cost, maintain in full force and effect any letter(s) of credit, guarantee(s) or other credit support currently being maintained in respect of any Required Credit Support. b. GLNG shall maintain in full force and effect the $5.75 million Irrevocable Standby Letter of Credit, Reference No. 39662244 (the “SSA L/C”), issued by Citibank, N.A., as issuing bank, for the benefit of Citibank N.A., in its capacity as Offshore Collateral Trust Agent, as Additional Equity Support in respect of the Additional Equity Commitment in accordance with the Amended and Restated Sponsor Support and Share Retention Agreement dated as of February 4, 2019 (the “SSA”), among CELSE – Centrais Elétricas de Sergipe S.A., as Borrower, CELSEPAR – Centrais Elétricas de Sergipe Participações S.A. as the Direct Shareholder, EBRASIL Energia Ltda., as the EBRASIL Shareholder, Golar Power Brasil Participações S.A., Golar Power Latam Participações e Comércio Ltda. and LNG Power Ltd., as the Golar Shareholders, Eletricidade do Brasil S.A. – EBRASIL and Golar Power Ltd., as the Sponsors, Golar LNG Ltd. and Stonepeak Infrastructure Fund II Cayman (G) Ltd., as the Golar Parents, Citibank, N.A., as the Intercreditor Agent, Citibank, N.A., as the Offshore Collateral Agent, and Banco Citibank S.A., as the Onshore Collateral Agent (as amended, modified, supplemented, restated and in effect from time to time), until the earlier of (x) May 1, 2021 and (y) the date on which Parent procures the replacement of the SSA L/C in compliance with the terms of the SSA. Parent will be primarily responsible to GLNG for the payment of any amounts payable pursuant to the SSA L/C, as the case may be, as incurred, and Parent shall indemnify GLNG for any amounts GLNG pays under the SSA L/C, as the case may be, and for any losses, damages, liabilities, claims, demands, causes of action, judgments, settlements, fines, penalties, costs and expenses (including, without limitation, court costs and reasonable attorneys’ and experts’ fees, as incurred) of any and every kind or character arising out of or related to the SSA L/C, as the case may be.

Required Credit Support. The Indemnitor Letter of Credit issued by GLNG in accordance with section 2 of the indemnity agreement entered into between GLNG, the Company and Stonepeak Infrastructure Fund II Cayman (G) Ltd on 15 April 2021. Asset Golar Counterparty / Owner Tier 1 Service Provider Nanook Golar FSRU8 Corporation (to be replaced by Golar Nanook UK Limited from the Effective Time in the discretion of the Parent) GML GML Golar Management Norway AS GML Golar Management Malaysia SDN BHD GML Golar Management D.O.O.

Required Credit Support. Customer shall maintain, at all times during the term of this Agreement starting upon the First In-Service Date, credit support in the form of one of the following, or a combination thereof, in a total amount equal to an amount which the Parties agree shall be acceptable credit support for Customer (“Guaranty Limit”): (a) in a Guaranty to be mutually agreed upon by the Parties; or (b) no more than three guarantees (substantially in the form of the Guaranty, or other form reasonably acceptable to Customer, which form shall not be deemed in substantial conformity without having (x) choice of law, venue and forum selection provisions designating a jurisdiction within the continental United States, (y) the reimbursement of fifty-one percent (51%) to SLC, if the Guarantor is a Shell Guarantor, or one hundred percent (100%) to ELC if the Guarantor is a Non-Shell Guarantor, of all reasonable costs of obtaining the proceeds under the guarantee, and (z) each guarantor’s agreement in writing to be joined upon request of ELC as a full party in any proceeding involving any other guarantee provided hereunder) from guarantors each having both:

Required Credit Support. Customer shall maintain, at all times during the term of this Agreement starting upon the First In-Service Date, credit support in the form of one of the following, or a combination thereof, in a total amount equal to an amount ***: