Credit Breach definition

Credit Breach means the status of a Participant that does not currently meet the requirements of Tariff, Attachment Q or other provisions of the Agreements.

Credit Breach means (a) the failure of a Participant to perform, observe, meet or comply with any requirements of Tariff, Attachment Q or other provisions of the Agreements, other than a Financial Default, or (b) a determination by PJM and notice to the Participant that a Participant represents an unreasonable credit risk to the PJM Markets; that, in either event, has not been cured or remedied after any required notice has been given and any cure period has elapsed.

Credit Breach means (a) the failure of a Participant to perform, observe, meet or comply with any requirements of Tariff, Attachment Q or other provisions of the Agreements, other than a Financial Default, or (b) a determination by PJM and notice to the Participant that a Participant

Examples of Credit Breach in a sentence

• Failure to maintain credit sufficient to satisfy the credit requirements of the Attachment Q shall constitute a Credit Breach, and the Participant will be subject to the remedies established herein and in any of the Agreements.

• Only one cure period shall apply to a single event giving rise to a Credit Breach, Financial Default or Credit Support Default.

• Failure to remedy the Credit Breach, Financial Default or to satisfy a Collateral Call or demand for additional documentation or assurances within the applicable cure period described in Operating Agreement, section 15.1.5, shall constitute an Event of Default.

• If PJM determines that a Market Participant is in Credit Breach, or that a Financial Default or Credit Support Default exists, PJM may issue to the Market Participant a breach notice and/or a Collateral Call or demand for additional documentation or assurances.

• Application of Collateral towards a Financial Default, Credit Breach or Credit Support Breach shall not be considered a cure of such Credit Breach, Financial Default or Credit Support Default unless the Participant is determined by PJM to be in full compliance with all requirements of this Attachment Q after such application.

• If PJMSettlement determines that a Participant is in Credit Breach of its requirements, including payment requirements, PJMSettlement may issue to the Participant a breach notice or Collateral Call.

• A Participant will have two Business Days from notification of Credit Breach or issuance of a Collateral Call to remedy the Credit Breach or satisfy the Collateral Call in a manner deemed acceptable by PJMSettlement.

• Application of Collateral towards a non-payment shall not be considered a satisfactory cure of such Credit Breach if the Participant fails to meet all requirements of this Attachment Q after such application.

• Only one cure period shall apply to a single event giving rise to a Credit Breach or Credit Breach default.

• Failure to remedy the Credit Breach or satisfy such Collateral Call within such two Business Days will be considered an event of default.

More Definitions of Credit Breach

Credit Breach means (a) is the failurestatus of a Participant to that does not currently perform, observe, meet or comply with anythe requirements of Tariff, Attachment Q or other provisions of the Agreements, other than a Financial Default, or (b) a determination by PJM and notice to the Participant that a Participant represents an unreasonable credit risk to the PJM Markets; that, in either event, has not been cured or remedied after any required notice has been given and any cure period has elapsed.

Credit Breach. Font: Not Bold

Credit Breach means is the status of a Participant that does not currently meet the requirements of Tariff, Attachment Q or other provisions of theis Agreements.