Buyer Credit Support definition

Buyer Credit Support means the Initial Buyer LC or any replacement credit support provided by Buyer pursuant to Article 9, as such Initial Buyer LC or replacement credit support is reduced or increased pursuant to Article 9.
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Buyer Credit Support means Credit Support, in the form of a Letter of Credit in an amount limited to a reasonable estimate of the damages to Seller (consistent with Section 12.5 of this Agreement) if Buyer were to fail to perform its obligations, to secure Buyer’s obligations under this Agreement.
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Buyer Credit Support means Owner Security as defined in the EPC Schedule.
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Examples of Buyer Credit Support in a sentence

  • With respect to the first Contract Year, at least [**], Buyer shall procure, deliver and maintain (or cause to be procured, delivered and maintained) a Letter of Credit issued to Seller for [**] and (b) with respect to subsequent Contract Years, no later than the [**], Buyer shall procure, deliver and maintain (or cause to be procured, delivered and maintained) a Letter of Credit issued to Seller for an amount (in US$) equal to the sum of the [**] (“ Buyer Credit Support Amount”).

  • In the event the Base Status Report reflects remaining backlog and/or cost to completion in excess of that reflected in the final Status Report, then Buyer shall be permitted to cancel or otherwise terminate any applicable Buyer Credit Support covering the amount of such excess.

  • Notwithstanding anything to the contrary, if Buyer fails to deliver and maintain the Buyer Credit Support or the Credit Support Provider becomes Insolvent (as defined in the Agreement) or repudiates or breaches its obligation to pay thereunder in addition to any other remedies available to it under this Agreement, Tesla shall be excused from performing any obligations until such time as Buyer shall have delivered Credit Support in a form acceptable to Tesla in its sole discretion.

  • In the event such final Status Report reflects remaining backlog and/or cost to completion in excess of that reflected in the Base Status Report, then Buyer shall promptly obtain the applicable Buyer Credit Support to cover the amount of such excess.

  • If identified in the Key Terms, Buyer shall maintain Buyer Credit Support in accordance with Exhibit U from the Effective Date until Tesla has been paid in full for the Work.


More Definitions of Buyer Credit Support

Buyer Credit Support. This Confirmation is subject to the Security Documents and all obligations hereunder are Obligations as defined in such Security Documents.
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Related to Buyer Credit Support

  • QFC Credit Support has the meaning specified in Section 11.21.

  • Credit Support Instrument" "Credit Support Provider"

  • S&P Credit Support Amount means, for any Valuation Date, the excess, if any, of:

  • credit supporter means a person or company that provides a guarantee or alternative credit support for any of the payments to be made by an issuer of securities as stipulated in the terms of the securities or in an agreement governing rights of, or granting rights to, holders of the securities;

  • Fitch Credit Support Amount means, for any Valuation Date, the excess, if any, of:

  • Substitute Credit Support has the meaning specified in Paragraph 4(d)(i).

  • Posted Credit Support means Posted Collateral and Other Posted Support.

  • Credit Support Instrument The instrument or document pursuant to which the Credit Support for a given Series (or Class within such Series) is provided, as specified in the applicable Supplement.

  • Seller credit card means either of the following:

  • Credit Support Provider has the meaning specified in the Schedule.

  • Credit Support Instruments has the meaning set forth in Section 3.01(a).

  • Credit Support Amount has the meaning specified in Paragraph 3.

  • Credit Support Annex means the Credit Support Annex annexed to this Agreement.

  • Credit Support Balance means, with respect to a Transferor on a Valuation Date, the aggregate of all Eligible Credit Support that has been transferred to or received by the Transferee under this Annex, together with any Distributions and all proceeds of any such Eligible Credit Support or Distributions, as reduced pursuant to Paragraph 2(b), Paragraph 3(c)(ii) or Paragraph 6. Any Equivalent Distributions or Interest Amount (or portion of either) not transferred pursuant to Paragraph 5(c)(i) or (ii) will form part of the Credit Support Balance.

  • Eligible Credit Support means Eligible Collateral and Other Eligible Support.

  • Senior Credit Support Depletion Date The date on which the Class Certificate Balance of each Class of Subordinated Certificates has been reduced to zero.

  • Company Credit Agreement means that certain Credit Agreement, dated as of January 28, 2019, by and between the Company, the lenders party thereto from time to time and SunTrust Bank, as administrative agent for the revolving lenders and as collateral agent for the secured parties thereunder.

  • Credit Support Depletion Date The first Distribution Date on which the Certificate Principal Balances of the Subordinate Certificates have been reduced to zero.

  • Original Applicable Credit Support Percentage With respect to each of the following Classes of Subordinated Certificates, the corresponding percentage described below, as of the Closing Date: Class B-1 % Class B-2 % Class B-3 % Class B-4 % Class B-5 % Class B-6 %

  • Borrower Credit Agreement Obligations the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of the Borrower (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, or the other Loan Documents, or any Letter of Credit, or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower pursuant to the terms of any of the foregoing agreements).

  • Credit Enhancement Agreement means the Agreement among the Sellers, the Master Servicer, the Trustee and the Credit Enhancement Provider with respect to the Credit Enhancement.

  • Pre-Petition Credit Agreement has the meaning assigned to such term in the Recitals.

  • Five-Year Credit Agreement means the Five Year Credit Agreement dated March 31, 1999, among the Company, the Subsidiary Borrowers party thereto, the Lenders and the Administrative Agent, as Administrative Agent, as such agreement may be amended, restated or extended from time to time.

  • Customer Credit Liabilities means, at any time, the aggregate remaining balance reflected on the books and records of the Loan Parties at such time of (a) outstanding gift certificates and gift cards of the Loan Parties entitling the holder thereof to use all or a portion of the gift certificate or gift card to pay all or a portion of the purchase price for any Inventory, and (b) outstanding merchandise credits and customer deposits of the Loan Parties.

  • Open-end credit means credit extended by a creditor under an agreement in which: