Seller’s Credit and Collateral Requirements Sample Clauses

Seller’s Credit and Collateral Requirements. (a) If, at any time during the Term Seller does not have a Credit Rating, or if its Credit Rating is below BBB- from S&P or Baa3 from Xxxxx’x, if rated by both S&P and Xxxxx’x or below BBB- from S&P or Baa3 from Xxxxx’x, if rated by either S&P or Xxxxx’x, but not both, Seller shall provide and maintain collateral with Buyer in an amount equal to the sum of the following: (i) twenty percent (20%) of the sum of the estimated Delivered Capacity Payments for all of the remaining months of the Delivery Period including the current month, with such estimated Delivered Capacity Payments being based on the applicable Monthly Quantity values times the applicable Contract Price, plus (ii) twenty percent (20%) of the estimated Undelivered Energy Penalty based on the associated Monthly Contracted Quantity (collectively, “Performance Assurance”).
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Seller’s Credit and Collateral Requirements. If, at any time during the Term Seller does not have a Credit Rating, or if its Credit Rating is below BBB- from S&P or Baa3 from Xxxxx’x, if rated by both S&P and Xxxxx’x or below BBB- from S&P or Baa3 from Xxxxx’x, if rated by either S&P or Xxxxx’x, but not both, Seller shall provide and maintain collateral with Buyer in an amount equal to the sum of the following: (i) twenty percent (20%) of the sum of the estimated Delivered Capacity Payments for all of the remaining months of the Delivery Period including the current month, with such estimated Delivered Capacity Payments being based on the applicable Monthly Quantity values times the applicable Contract Price, plus (ii) twenty percent (20%) of the estimated Undelivered Energy Penalty based on the associated Monthly Contracted Quantity (collectively, “Performance Assurance”). If Seller’s Credit Rating is at or above BBB- from S&P and Baa3 from Xxxxx’x, if rated by both S&P and Xxxxx’x, or at or above BBB- from S&P or Baa3 from Xxxxx’x, if rated by either S&P or Xxxxx’x, but not both, Seller shall have no obligation to provide Performance Assurance to Buyer, and Sections 5.2 through 5.5 will not be applicable. If required pursuant to Section 5.1(a) as of the Execution Date, Seller shall post the Performance Assurance with Buyer within ten (10) Business Days of the Execution Date. If required pursuant to Section 5.1(a) at any other time during the Term, Seller shall post the Performance Assurance with Buyer within five (5) Business Days of the date of the event that triggered Seller’s posting requirement under Section 5.1(a).
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Seller’s Credit and Collateral Requirements. (a) If, at any time during the Term Seller does not have a Credit Rating, or if its Credit Rating is below BBB- from S&P or Baa3 from Xxxxx’x, if rated by both S&P and Xxxxx’x or below BBB- from S&P or Baa3 from Xxxxx’x, if rated by either S&P or Xxxxx’x, but not both, Seller shall provide and maintain collateral with Buyer in an amount equal to twenty percent (20%) of the sum of the estimated Delivered Capacity Payments for all of the remaining months of the Delivery Period including the current month, with such estimated Delivered Capacity Payments being based on the applicable Monthly Quantity values times the applicable Contract Price (“Performance Assurance”).
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Seller’s Credit and Collateral Requirements. (a) If, at any time during the Term after CPUC Approval is obtained or waived by Buyer, Seller does not have a Credit Rating, or if its Credit Rating is below BBB- from S&P and Baa3 from Xxxxx’x, if rated by both S&P and Xxxxx’x or below BBB- from S&P or Baa3 from Xxxxx’x, if rated by either S&P or Xxxxx’x, but not both, Seller shall provide and maintain collateral with Buyer in an amount equal to twenty percent (20%) of the sum of the estimated Delivered Capacity Payments for all of the remaining months of the Delivery Period including the current month, with such estimated Delivered Capacity Payments being based on the applicable Monthly Quantity values times the applicable Contract Price (“Performance Assurance”).
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Related to Seller’s Credit and Collateral Requirements

  • CREDIT AND COLLATERAL REQUIREMENTS The applicable credit and collateral requirements are specified on the Cover Sheet.

  • CREDIT AND COLLATERAL EXCEPTIONS (1) Within ninety (90) days the Board shall obtain current and satisfactory credit information on all loans lacking such information, including those listed in the XXX, in any subsequent Report of Examination, in any internal or external loan review, or in any listings of loans lacking such information provided to management by the National Bank Examiners at the conclusion of an examination.

  • D5 Environmental Requirements D5.1 The Contractor shall in the performance of the Contract have due regard to the Authority’s Environmental, Sustainable Procurement and Ethical Procurement policy statements and in addition, shall assist the Authority in achieving the Sustainable Development in Government targets (“SDIG”). These statements and targets require the Authority through its procurement and management of suppliers to inter alia:

  • D4 Environmental Requirements D4.1 The Contractor shall, when working on the Premises, perform its obligations under the Contract in accordance with the Authority’s environmental principles, which are to conserve energy, water, wood, paper and other resources, reduce waste and phase out the use of ozone depleting substances, minimise the release of greenhouse gases, volatile organic compounds and other substances damaging to health and the environment.

  • Facility Requirements 1. Maintain wheelchair accessibility to program activities according to governing law, including the Americans With Disabilities Act (ADA), as applicable.

  • General Requirements The Contractor hereby agrees:

  • Personnel Requirements and Documentation Grantee will;

  • Environmental Requirements C7.1 The Contractor shall, when working on the Premises, perform its obligations under the Contract in accordance with the Authority’s environmental policy, which is to conserve energy, water, wood, paper and other resources, reduce waste and phase out the use of ozone depleting substances and minimise the release of greenhouse gases, volatile organic compounds and other substances damaging to health and the environment.

  • Capital Requirements If any Lender or the L/C Issuer determines that any Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered.

  • SPECIAL CONTRACT REQUIREMENTS The Special Contract Requirements are provisions that relate directly to the performance of this contract.

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