Credit Cover definition

Credit Cover means a letter of credit or cash deposit which meets the requirements in regulation 54;

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Credit Cover means security for payment of amounts owed under these Rules provided under Rule B7;

Credit Cover means the credit cover required of and provided by the Participant in a form that meets the requirements of the Code;

Examples of Credit Cover in a sentence

• Once the Agreement has duly entered into force, the Terminal Operator may assess at any time the compliance of the Client with the “Know Your Customer” requirements and may request the Client to demonstrate its compliance with the Credit Cover provisions and “Know Your Customer” requirements.

• The Terminal Operator shall, before the signature of the relevant contract, request the Client to demonstrate that it is complying with the Credit Cover provisions as well as to comply with the “Know Your Customer” requirements established by the Terminal Operator in consultation with the ▇▇▇▇.

• The Buyer shall give to Dor a notice of not less than seven (7) days of its intention to draw down against any such Credit Cover provided by Dor.

• In the event the Sellers draw down any amount under the Buyer’s Credit Cover, Buyer will within seven (7) Business Days thereafter provide the Sellers with additional Credit Cover in an amount equal to the amount that was so drawn by the Sellers.

• During the Second Period the Credit Cover shall be reduced in accordance with the Reduction Ratio.

More Definitions of Credit Cover

Credit Cover. : means credit cover provided or to be provided by a Trading Party in accordance with Section M;

Credit Cover means any of the following forms of guarantee: (i) a corporate guarantee substantially in the form set out in Schedule 6 (“Corporate Guarantee”), provided by Alon Natural Gas Exploration Ltd. for Dor Gas Exploration Limited Partnership; or (ii) a bank guarantee substantially in the form set out in Schedule 7 (“Bank Guarantee”); or (iii) a Letter of Credit substantially in the form set out in Schedule 8 (“Letter of Credit”), issued by one of the top three (3) Israeli Banks or issued by a non Israeli Bank whose Credit Rating is at least S&P’s rating group “A” or ▇▇▇▇▇’▇ rating “A2”.

Credit Cover means the credit cover required of and provided by the Participant in a form that meets the requirements of (as applicable) Part A or Part B of the Code;

Credit Cover means any insurance or similar arrangement in respect of credit risk of any Receivable satisfactory to the Factoring Agent.

Credit Cover means any of the following forms of guarantee: (i) a bank guarantee (substantially in the form set out in Schedule 5); or (ii) [***]; or (iii) a Letter of Credit (substantially in the form set out in Schedule 7) issued by a non-Israeli Bank whose international Credit Rating is not less than S&P’s rating group “A+” and ▇▇▇▇▇’▇ rating “A1”.

Credit Cover means the amount which shall be due to the Client from the Bank on the Insolvency of the Customer by applying the Credit Cover Percentage to the amount of any unpaid Debt but after deducting from such Debt any tax payable by the Customer;

Credit Cover means the amount payable by the Bank to the Seller with respect to Approved Debts on the Insolvency or Default of a Customer, calculated by applying the Credit Cover Percentage, in the case of Insolvency, to the amount of any unpaid Approved Debts due from the Customer, or in the case of a Default, to the amount of each Approved Debt in respect of which a Default occurred, but in each case after deducting from such Debts any tax payable by the Customer, and subject to any applicable Minimum Cover;