Common use of Thresholds Clause in Contracts

Thresholds. (a) Threshold for Party B. “Threshold” means with respect to Party B, on any date of determination, the lowest of (i) the amount of any limit contained in a guaranty provided by Party B’s Guarantor, if applicable; [or] (ii) zero if a Material Adverse Change or an Event of Default has occurred and is continuing with respect to either Party B or its Guarantor [; or [(iii) _____________ dollars ($___________)]. [Fill in and delete (iii) below, or delete and fill in (iii) below.] [(iii) the amount set forth in the following table based on the lowest applicable Credit Rating for Party B or its Guarantor, as applicable.]

Thresholds. (a) Threshold for Party B. “Threshold” means with respect to Party B, on any date of determination, the lowest of (i) the amount of any limit contained in a guaranty provided by Party B’s GuarantorCredit Support Provider, if applicable; [or] (ii) zero if a Material Adverse Change or an Event of Default has occurred and is continuing with respect to either Party B or its Guarantor [Credit Support Provider; or [(iii) _____________ dollars ($___________)]. [Fill in and delete (iii) below, or delete and fill in (iii) below.] [(iii) the amount set forth in the following table based on the lowest applicable Credit Rating for Party B or its GuarantorCredit Support Provider, as applicable.]