Commodity Suppliers definition
Examples of Commodity Suppliers in a sentence
Collateral Agent National Bank of Canada to reflect collateral agency succession which occurred on March 1, 2019 Commodity Suppliers Shell Energy North America (Canada) Inc., Shell Energy North America (US), L.P., Shell Trading Risk Management, LLC, BP Canada Energy Group ULC, BP Canada Energy Marketing Corp., BP Energy Company,1 MacQuarie Bank Limited, MacQuarie Energy Canada Ltd.
The Companies shall, except to the extent resulting from the fraud or intentional tort by RES, bear all risk of loss and otherwise be responsible for any and all occurrences with respect to Commodities procured by RES pursuant to this Agreement upon and after that risk of loss and responsibility passes from the relevant Commodity Supplier(s) under the relevant Commodity Supply Arrangement(s).
This Summary does not include descriptions of all of the terms, conditions and other provisions that are to be contained in the definitive documentation relating to the seventh amended and restated intercreditor agreement (the “Intercreditor Agreement”) to be entered into between the Borrowers, the other Obligors, the Collateral Agent, the Agent (for and on behalf of the Lenders) and the Commodity Suppliers party thereto from time to time.
Notwithstanding the foregoing covenant, a Commodity Supplier that has its obligations backed by a letter of credit pursuant to (ii) above, is permitted to have a credit limit of up to USD$15,000,000 of obligations unsupported by a letter of credit (each, an “Unsecured Credit Limit”), so long as all such Unsecured Credit Limits of all Commodity Suppliers does not exceed USD$50,000,000 in the aggregate at any time.
The Commodity Procurement Guidelines shall set forth general guidelines regarding the characteristics of Commodity Suppliers, as well as transaction types (including hedg▇▇), ▇ayment terms and lengths of Commodity Supply Arrangements, that are acceptable to the Companies.