Unsecured Credit. During the term of this Agreement, Buyer shall extend, solely with respect to the Performance Assurance set forth in Section 14.1 (Requirement for Performance Assurance), Unsecured Credit to Seller in an amount initially determined on the Effective Date and redetermined each Business Day thereafter pursuant to this Section 14.3. The relevant Unsecured Credit Cap shall be the Unsecured Credit Cap listed in the following table that corresponds to Seller’s (or Seller’s Guarantor’s) lowest Credit Rating most recently published by S&P, Fitch and/or Moody’s. The relevant TNW Amount shall be calculated using the TNW Percentage listed in the following table that corresponds to Seller’s (or Seller’s Guarantor’s) lowest Credit Rating most recently published by S&P, Fitch and/or Moody’s. If the Seller and an Affiliate(s) are both winning bidders in the RFP, then the Seller (or Seller’s Guarantor) and the Affiliate(s) will proportionally share the amount of Unsecured Credit listed in the following table that corresponds to the Seller’s (or Seller’s Guarantor’s) lowest Credit Rating most recently published by S&P, Fitch and/or Moody’s. Credit Rating S &P Fitch Xxxxx’x TNWP ercentage Unsecured Credit Cap A or above A or above A2 or above 15% $125,000,000 X- X- X0 10% $100,000,000 BBB+ BBB+ Baa1 8% $75,000,000 BBB BBB Baa2 6% $50,000,000 BBB- BBB- Baa3 4% $25,000,000 BB+ BB+ Ba1 2% $15,000,000 BB BB Ba2 1% $10,000,000 BB- BB- Ba3 0.5% $5,000,000 Below BB- / Unrated Below BB- / Unrated Below Ba3 / Unrated 0% $0.00
Appears in 2 contracts
Samples: Full Requirements Service Agreement, Full Requirements Service Agreement
Unsecured Credit. During the term of this Agreement, Buyer shall extend, solely with respect to the Performance Assurance set forth in Section 14.1 (Requirement for Performance Assurance), Unsecured Credit to Seller in an amount initially determined on the Effective Date and redetermined each Business Day thereafter pursuant to this Section 14.3. The relevant Unsecured Credit Cap shall be the Unsecured Credit Cap listed in the following table that corresponds to Seller’s (or Seller’s Guarantor’s) lowest Credit Rating most recently published by S&P, Fitch and/or Moody’s. The relevant TNW Amount shall be calculated using the TNW Percentage listed in the following table that corresponds to Seller’s (or Seller’s Guarantor’s) lowest Credit Rating most recently published by S&P, Fitch and/or Moody’s. If the Seller and an Affiliate(s) are both winning bidders in the RFP, then the Seller (or Seller’s Guarantor) and the Affiliate(s) will proportionally share the amount of Unsecured Credit listed in the following table that corresponds to the Seller’s (or Seller’s Guarantor’s) lowest Credit Rating most recently published by S&P, Fitch and/or Moody’s. Credit Rating S &P Fitch Xxxxx’x TNWP ercentage Moody’s TNW Unsecured Credit Cap A or above A or above A2 or above 15% $125,000,000 X- X- X0 10% $100,000,000 BBB+ BBB+ Baa1 8% $75,000,000 BBB BBB Baa2 6% $50,000,000 BBB- BBB- Baa3 4% $25,000,000 BB+ BB+ Ba1 2% $15,000,000 BB BB Ba2 1% $10,000,000 BB- BB- Ba3 0.5% $5,000,000 Below BB- / Unrated Below BB- / Unrated Below Ba3 / Unrated 0% $0.00
Appears in 1 contract
Samples: Full Requirements Service Agreement
Unsecured Credit. During the term of this Agreement, Buyer shall extend, solely with respect to the Performance Assurance set forth in Section 14.1 (Requirement for Performance Assurance), Unsecured Credit to Seller in an amount initially determined on the Effective Date and redetermined each Business Day thereafter pursuant to this Section 14.3. The relevant Unsecured Credit Cap shall be the Unsecured Credit Cap listed in the following table that corresponds to Seller’s (or Seller’s Guarantor’s) lowest Credit Rating most recently published by S&P, Fitch and/or Moody’sXxxxx’x. The relevant TNW Amount shall be calculated using the TNW Percentage listed in the following table that corresponds to Seller’s (or Seller’s Guarantor’s) lowest Credit Rating most recently published by S&P, Fitch and/or Moody’sXxxxx’x. If the Seller and an Affiliate(s) are both winning bidders in the RFP, then the Seller (or Seller’s Guarantor) and the Affiliate(s) will proportionally share the amount of Unsecured Credit listed in the following table that corresponds to the Seller’s (or Seller’s Guarantor’s) lowest Credit Rating most recently published by S&P, Fitch and/or Moody’sXxxxx’x. Credit Rating S &P Fitch Xxxxx’x TNWP ercentage TNW Unsecured Credit Cap A or above A or above A2 or above 15% $125,000,000 X- X- X0 10% $100,000,000 BBB+ BBB+ Baa1 8% $75,000,000 BBB BBB Baa2 6% $50,000,000 BBB- BBB- Baa3 4% $25,000,000 BB+ BB+ Ba1 2% $15,000,000 BB BB Ba2 1% $10,000,000 BB- BB- Ba3 0.5% $5,000,000 Below BB- / Unrated Below BB- / Unrated Below Ba3 / Unrated 0% $0.00
Appears in 1 contract
Samples: Full Requirements Service Agreement