Additional Credit Support definition

Additional Credit Support means a guaranty of the Owner’s payment obligations under the Agreement issued by Avangrid, Inc. in a form reasonably satisfactory to the Distribution Company.

Additional Credit Support means one or more of the following, issued in favor of or otherwise held by or for the benefit of Owner or Purchaser, as applicable:

Additional Credit Support has the meaning set forth in Section 5.15.

Examples of Additional Credit Support in a sentence

• Thereafter, the Additional Credit Support Amount, if any, shall be returned by the Trustee as administrator of the Credit Enhancement in accordance with the Credit Enhancement Agreement.

• At the time of any additional loan described in this Section 8, Discover Bank as Servicer and the Credit Enhancement Provider may agree in writing that the Supplemental Credit Enhancement Amount, the Increased Credit Enhancement Amount or the Additional Credit Support Amount, as applicable, shall bear interest at a different LIBOR-Based Rate, which rate shall reflect prevailing market conditions and the expected duration of such additional loan.

• In the event that an Alternative Credit Support Election is made pursuant to the provisions of the Series Supplement, Discover Bank on behalf of the Holder of the Seller Certificate may request that the Credit Enhancement Provider make an additional loan in the amount of the Additional Credit Support Amount.

• Provided such obligations have been satisfied, such Credit Support or Additional Credit Support shall be returned to Owner within thirty (30) days after the expiration or earlier termination of this Agreement.

• Owner may draw on the undrawn portion of any Letter of Credit provided as Additional Credit Support up to the amount of Purchaser’s outstanding obligations hereunder.

More Definitions of Additional Credit Support

Additional Credit Support means (i) 100% of all Eligible Cash, or (ii) the then maximum amount available for drawing under the Eligible Letter of Credit; provided that to the extent the Additional Credit Support exceeds $2,500,000, no Eligible Cash shall be included as Additional Credit Support unless the Borrowers have not obtained the Eligible Letter of Credit after having used commercially reasonable efforts in respect thereof.

Additional Credit Support. With respect to each Domestic Subsidiary of U.S. Borrower acquired, organized or formed after the Closing Date (and each Domestic Subsidiary which is an Immaterial Subsidiary at any time and which thereafter ceases to be an Immaterial Subsidiary), U.S. Borrower shall cause each such Domestic Subsidiary to execute such guaranties of the payment and performance of the Obligations and grant such Liens securing the Obligations and do and cause to be done such further acts with respect to the enforceability of such guaranties and perfection of such Liens as Agent and North American Collateral Agent (as applicable) shall reasonably request, and U.S. Borrower shall pledge the Stock of such Subsidiary to secure the Obligations and execute such further documents, instruments and agreements evidencing the same as the Agent or the North American Collateral Agent may reasonably request.

Additional Credit Support means (i) a Qualifying Letter of Credit or (ii) Qualifying Cash Collateral. ​

Additional Credit Support. Amount The lesser of (x)(i) $15,789,480 prior to the occurrence of a Supplemental Credit Enhancement Event or (ii) $10,526,320 following the occurrence of a Supplemental Credit Enhancement Event and (y) the difference between the Maximum Class B Credit Enhancement Amount (after giving effect to an Alternative Credit Support Election) and the Available Class B Credit Enhancement Amount (immediately before giving effect to the Alternative Credit Support Election). Supplemental Credit Enhancement The lesser of (x)(i) $5,263,160 prior to Amount the occurrence of an Alternative Credit Support Election or (ii) zero following the occurrence of an Alternative Credit Support Election and (y) the difference between the Maximum Class B Credit Enhancement Amount (after giving effect to the occurrence of a Supplemental Credit Enhancement Event) and the Available Class B

Additional Credit Support shall have the meaning ascribed to it in Section 5.4;

Additional Credit Support shall have the meaning set forth in Section 2.12.

Additional Credit Support means, in respect of a Designated Reference Obligation, an amount equal to the USD Equivalent of the product of (a) the Book Value of such Designated Reference Obligation, and (b) the quotient of (i) the Designated Face Amount, and (ii) the Traded Face Amount.