Commodity Hedge Counterparty means any Person that is, as of the date of the applicable Commodity Hedge Agreement, (a) (i) a commercial bank, insurance company or other similar financial institution or any Affiliate thereof, or (ii) a public utility and (b) in the business of selling, marketing, purchasing or distributing natural gas, ancillary services or other fuel.
Commodity Hedge Counterparty any Person (other than any Loan Party) that is a party to a Permitted Commodity Hedge and Power Sales Agreement.
Commodity Hedge Counterparty means any Commodity Institution or any Power Distributor which has a Required Rating.
Examples of Commodity Hedge Counterparty in a sentence
The Collateral Agent shall not be under any obligation to the Administrative Agent, Secured Commodity Hedge Counterparty or any other Secured Party to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Financing Document, or to inspect the properties, books or records of any Loan Party.
Xxxx, in its capacity as a Secured Commodity Hedge Counterparty (the “X.
Each Secured Commodity Hedge Counterparty acknowledges that it has independently and without reliance on the Administrative Agent or any other Secured Party, and based on documents and information deemed by it appropriate, made its own credit analysis and decision to enter into each of the Financing Documents and be bound by the terms of this Agreement and it will continue to make its own credit decision in taking or not taking any action under the Financing Documents.
Each of the Administrative Agent (on behalf of itself and each Lender Party), each Secured Commodity Hedge Counterparty and each other Secured Party hereby further authorizes the Collateral Agent, on behalf of and for the benefit of the Secured Parties, to be the agent for and representative of the Secured Parties with respect to the Collateral and the Security Documents.
To the extent that such recovered amount had previously reduced the Eligible Hedge Voting Amount of any Secured Commodity Hedge Counterparty, then upon reinstatement pursuant to this Section 6.2, such amount shall be added back to such Secured Party’s Eligible Hedge Voting Amount.
More Definitions of Commodity Hedge Counterparty
Commodity Hedge Counterparty means any Person that (a) (i) is a commercial bank, insurance company, investment fund or other similar financial institution (including CS) or any Affiliate thereof which is engaged in the business of entering into Commodity Hedge and Power Sale Agreements, (ii) is a public utility or (iii) is in the business of selling, marketing, purchasing, transporting, distributing or storing electric energy, fuel, oil, natural gas or weather-related derivatives, as applicable, and (b) at the time the applicable Permitted Commodity Hedge and Power Sale Agreement is entered into, has a Required Rating.
Commodity Hedge Counterparty means a hedge counterparty under an OCB Secured Hedging Agreement which has acceded as an Obligor Secured Creditor to the STID and the Common Terms Agreement.
Commodity Hedge Counterparty means any Person that (a)(i) is a commercial bank, insurance company, investment fund or other similar financial institution or any Affiliate thereof which is engaged in the business of entering into Commodity Hedge and Power Sale Agreements, (ii) is any industrial or utility company or other company that enters into commodity hedges in the ordinary course of its business, or (iii) is either a load- serving entity that has received an order from a local commission or a municipal or cooperative entity that has been granted a monopoly franchise territory for retail electric sales and, in either case, the right to recover costs of purchased power in rates, and (b) in the case of (i) and (ii) only, at the time the applicable Commodity Hedge and Power Sale Agreement is entered into, has a Required Rating.
Commodity Hedge Counterparty means any Person that (a)(i) is a commercial bank, insurance company, investment fund or other similar financial institution or any
Commodity Hedge Counterparty means any Person (or whose obligations under the applicable Permitted Secured Commodity Hedge and Power Sale Agreement are guaranteed by an entity) (a) that is, as of the date of the applicable Permitted Secured Commodity Hedge and Power Sale Agreement, (i) a commercial bank, insurance company or other similar financial institution or any Affiliate thereof, (ii) a public utility or a reputable exchange or (iii) in the business of buying, selling, marketing, purchasing, transporting, storing or distributing electric energy, capacity, ancillary services, emissions credits, fuel (or other commodities related to the generation or sale of power from the Project), gypsum or coal ash and (b) solely to the extent that Liens under the Collateral Documents are intended to benefit such Person, that has (or whose obligations under the applicable Permitted Secured Commodity Hedge and Power Sale Agreement are guaranteed by an entity that has), at the time the applicable Permitted Secured Commodity Hedge and Power Sale Agreement is entered into, a Required Rating.
Commodity Hedge Counterparty means any Person that (a)(i) is a commercial bank, insurance company, investment fund or other similar financial institution or any Affiliate thereof which is engaged in the business of entering into commodity hedge and power sale agreements, (ii) is any industrial or utility company or other company that enters into commodity xxxxxx in the ordinary course of its business, or (iii) is either a load-serving entity that has received an order from a local commission or a municipal or cooperative entity that has been granted a monopoly franchise territory for retail electric sales and, in either case, the right to recover costs of purchased power in rates, and (b) in the case of (i) and (ii) only, at the time the applicable Commodity Hedge and Power Sale Agreement is entered into, has a Required Rating. “Commodity Hedge Guaranty” means any guaranty by any Loan Party of any other Loan Party’s obligations under any Permitted Commodity Hedge and Power Sale Agreement. “Comparable Second Lien Collateral Document” means, in relation to any Collateral subject to any Lien created under any First Lien Collateral Document, the Second Lien Collateral Document which creates a Lien on the same Collateral, granted by the same Loan Party. “Consent and Agreement” means, each consent and agreement entered into for the benefit of the Secured Parties in respect of any material contract to which any of the Loan Parties is a party in connection with any of the Projects. “Contractual Obligations” means, as applied to any Person, any provision of any Equity Interests issued by such Person or of any indenture, mortgage, deed of trust, contract, undertaking, agreement or other instrument to which such Person is a party or by which it or any of its Properties is bound. “Debt” of any Person means, without duplication, (a) Debt for Borrowed Money of such Person, (b) all obligations of such Person for the deferred purchase price of property or services (other than trade payables not overdue (unless being contested in good faith by appropriate proceedings for which reserves and other appropriate provisions, if any, required by GAAP shall have been made) by more than 90 days incurred in the ordinary course of such Person’s business), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all obligations of such Person created or arising under any conditional sale or other title retention agreement with respect to property acquired by such ...
Commodity Hedge Counterparty either (i) the unsecured senior debt obligations of such Person are rated at least Baa1 by Xxxxx’x and at least BBB+ by S&P or (ii) such Person’s obligations under any applicable Commodity Hedge and Power Sale Agreement are guaranteed by a Person whose unsecured senior debt obligations are rated at least Baa1 by Xxxxx’x and at least BBB+ by S&P and (b) any Commodity Hedge Counterparty described in clause (a)(ii) of the definition of “Commodity Hedge Counterparty” either (i) the unsecured senior debt obligations of such Person are rated at least Baa3 by Xxxxx’x and at least BBB- by S&P or (ii) such Commodity Hedge Counterparty’s obligations under any applicable Commodity Hedge and Power Sale Agreement are guaranteed by a Person whose unsecured senior debt obligations are rated at least Baa3 by Xxxxx’x and at least BBB- by S&P. “Required Second Lien Secured Parties” means, at any time, Second Lien Secured Parties owed or holding more than 50% of the sum of (without duplication), from and after the occurrence of an Early Termination Event under any Second Lien Commodity Hedge and Power Sale Agreement, the Eligible Hedge Amount thereunder.