Credit Assurance definition

Credit Assurance has the meaning set forth in Section 4.07(a).

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Credit Assurance means sufficient security in the form, amount and for the term reasonably acceptable to X, including, but not limited to, a standby irrevocable letter of credit, a prepayment, a security interest in an asset or a performance bond or guaranty (including the issuer of any such security).

Credit Assurance shall have the meaning assigned to it in Section 17 hereof.

Examples of Credit Assurance in a sentence

• Company may, in its sole discretion, draw all or any part of such amounts due Company from any of the Security Funds to the extent available pursuant to this Article 14 (Credit Assurance and Security), and from all such forms, and in any sequence Company may select.

• Seller is required to post and maintain Development Period Security and Operating Period Security based on the requirements of this Article 14 (Credit Assurance and Security).

• If a substitute letter of credit satisfying the requirements of this Article 14 (Credit Assurance and Security) is obtained and provided to Company, the net L/C Proceeds remaining as of the date that such substitute letter of credit is provided, shall be returned to Seller, or as Seller directs in writing.

• The Development Period Security and Operating Period Security, including L/C Proceeds therefrom (collectively referred to as the "Security Funds") established, funded, and maintained by Seller pursuant to the provisions of this Article 14 (Credit Assurance and Security) shall provide security for the performance of Seller's obligations under this Agreement and shall be available to be drawn on by Company as provided in Section 14.7 (Company's Right to Draw from Security Funds).

• The Development Period Security and Operating Period Security, including L/C Proceeds therefrom (collectively, the “Security Funds”) established, funded, and maintained by Seller pursuant to the provisions of this Article 14 (Credit Assurance and Security) shall provide security for the performance of Seller’s obligations under this Agreement and shall be available to be drawn on by Company as provided in Section 14.5 (Company’s Right to Draw from Security Funds).

• The Development Period Security and Operating Period Security (collectively referred to as the "Security Funds") established, funded, and maintained by Seller pursuant to the provisions of this Article 14 (Credit Assurance and Security) shall provide security for the performance of Seller's obligations under this Agreement and shall be available to be drawn on by Company as provided in Section 14.7 (Company's Right to Draw from Security Funds).

• This amount shall be adjusted to the Post-COD Credit Assurance as of COD.

• Post-COD Credit Assurance may be fulfilled through a combination of cash deposit, Seller Letter of Credit or Seller Guaranty.

• No later than ten (10) Business Days after the Effective Date, Seller shall provide Pre-COD Credit Assurance to secure the obligations of Seller under this PPA.

• For the Post-COD Credit Assurance, Seller shall have the right in its sole discretion to post a Seller Letter of Credit or a Seller Guaranty (or a combination thereof) for its security posting obligations under this Section 12.1 so long as the security meets the requirements for that security set out in this Article 12.

More Definitions of Credit Assurance

Credit Assurance shall have the meaning set forth in Section 5.6(a).

Credit Assurance means a cash pre-payment, an irrevocable standby letter of credit, and/or other security, all in a form and amount acceptable to the Requesting Party in its sole discretion.

Credit Assurance means collateral deemed acceptable by the Requesting Party, which may be in the form of prepayment, cash collateral, Letter(s) of Credit, or other security, in a form acceptable to the Requesting Party.