Common use of Seller Collateral Requirements Clause in Contracts

Seller Collateral Requirements. Notwithstanding anything to the contrary contained in the Master Agreement, Seller shall, within five (5) Business Days following the Confirmation Effective Date, provide to, and maintain with, Buyer a Full Floating Independent Amount as long as Seller or its Guarantor, if any, does not maintain Credit Ratings of at least BBB- from S&P and Baa3 from Xxxxx’x. The “Full Floating Independent Amount” shall be 20% of the sum of the Monthly Payments for the current month and all remaining months of the Delivery Period, without the adjustments specified in Section 4.2. For the purposes of calculating the Collateral Requirement pursuant to Paragraph 3 of the Collateral Annex, such Full Floating Independent Amount for Seller shall be added to the Exposure Amount for Buyer and subtracted from the Exposure Amount for Seller.

Seller Collateral Requirements. Notwithstanding anything to the contrary contained in the Master Agreement, Seller shall, within five (5) Business Days following the Confirmation Effective Date, provide to, and maintain with, Buyer a Full Floating Independent Amount as long as Seller or its Guarantor, if any, does not maintain Credit Ratings of at least BBB- from S&P and Baa3 from Xxxxx’x. The “Full Floating Independent Amount” shall be 20% of the sum of the Monthly Payments for the current month and all remaining months of the Delivery Period, without the adjustments specified in Section 4.2. For the purposes of calculating the Collateral Requirement pursuant to Paragraph 3 of the Collateral Annex, such Full Floating Independent Amount for Seller shall be added to the Exposure Amount for Buyer and subtracted from the Exposure Amount for Seller.