Base Security definition

Base Security shall have the meaning set forth in the MPUC’s RFP.

Base Security means a security (which is a FDI, including, without limitation, a warrant, a note or a participation certificate) which is linked to or otherwise tracks the performance of (i) one or more constituent securities of the relevant Underlying Index and/or (ii) such other security or securities as may be designated by the Manager.

Base Security means either: (a) cash; (b) an irrevocable Letter of Credit that unconditionally obligates the issuer to honor claims or drafts thereunder within ten (10) Business Days after notice to the issuer of such irrevocable letter of credit; or (c) other security acceptable to T&D.

Examples of Base Security in a sentence

• The Base Security and, if applicable, Excess Market Exposure Security cannot expire or be cancelled prior to the date 30 days after the end of the applicable term of service unless replacement financial security that meets the requirements of Chapter 301 and this RFP and is accepted by the Commission is provided.

• The Base Security amount for a Large Class Indexed bid shall not decline during the term of service.

• If the Excess Market Exposure Security amount is less than zero, the Provider may request, and the T&D must return within three (3) Business Days of Provider’s request, an amount of Provider’s security equal to the absolute value of the Excess Market Exposure Security amount; provided, however, under no circumstances shall the T&D be required to return an amount of security that would result in the Current Security amount equaling less than the applicable Base Security amount.

• Conversely, if, during the term of this Agreement, the Credit Rating of the Provider Guarantor is upgraded, then the Guaranty Cap and the Base Security amounts applicable to the Provider shall be those reflecting the improved Credit Rating.

• Excess Market Exposure Security: The incremental replacement cost of standard offer supply during the remaining term of service in excess of the Base Security for the class, as determined from time to time using commercially reasonable practices.

More Definitions of Base Security

Base Security means a security which is linked to or otherwise tracks the performance of (i) one or more constituent securities of the relevant Underlying Index and/or (ii) such other security or securities as may be designated by the Manager.

Base Security shall be [$250,000.00 (for CMP’s Large Class)] [$100,000.00 (for BHE’s Large Class)] and shall not decrease over the Term of Service.

Base Security is defined in the DDA.

Base Security means a Security which is a financial derivative (including, without limitation, a warrant, a note, or a participation certificate) which tracks the performance of an Index Share or a Basket.

Base Security means the initial amount and form of financial security set forth in Annex 1.

Base Security means a Corporate Guaranty or other Adequate Security delivered to the Agency in accordance with Section 26.2 that secures Developer’s payment and performance of all of its’ obligations under this DDA, including but not limited to its payment of Agency Costs and Community Benefits Payments and its’ Indemnification obligations;

Base Security shall be as specified in the applicable RFP and shall not decrease over the Term of Service.