Credit Support Amount definition

Credit Support Amount has the meaning specified in Paragraph 3.

Credit Support Amount means, unless otherwise specified in Paragraph 13, for any Valuation Date (i) the Secured Party’s Exposure for that Valuation Date plus (ii) the aggregate of all Independent Amounts applicable to the Pledgor, if any, minus (iii) all Independent Amounts applicable to the Secured Party, if any, minus (iv) the Pledgor’s Threshold; provided, however, that the Credit Support Amount will be deemed to be zero whenever the calculation of Credit Support Amount yields a number less than zero.

Credit Support Amount means, with respect to a Transferor on a Valuation Date, (i) the Transferee’s Exposure plus (ii) all Independent Amounts applicable to the Transferor, if any, minus (iii) all Independent Amounts applicable to the Transferee, if any, minus (iv) the Transferor’s Threshold; provided, however, that the Credit Support Amount will be deemed to be zero whenever the calculation of Credit Support Amount yields a number less than zero.

Examples of Credit Support Amount in a sentence

• If the S&P Value on any such Valuation Date of all Posted Credit Support then held by the Secured Party is less than the S&P Credit Support Amount on such Valuation Date (in each case as determined pursuant to this paragraph), Party A shall, within three Local Business Days of such Valuation Date, Transfer to the Secured Party Eligible Credit Support having an S&P Value as of the date of Transfer at least equal to such deficiency.

• Thereafter, the Additional Credit Support Amount, if any, shall be returned by the Trustee as administrator of the Credit Enhancement in accordance with the Credit Enhancement Agreement.

• At the time of any additional loan described in this Section 8, Discover Bank as Servicer and the Credit Enhancement Provider may agree in writing that the Supplemental Credit Enhancement Amount, the Increased Credit Enhancement Amount or the Additional Credit Support Amount, as applicable, shall bear interest at a different LIBOR-Based Rate, which rate shall reflect prevailing market conditions and the expected duration of such additional loan.

• In the event that an Alternative Credit Support Election is made pursuant to the provisions of the Series Supplement, Discover Bank on behalf of the Holder of the Seller Certificate may request that the Credit Enhancement Provider make an additional loan in the amount of the Additional Credit Support Amount.

• Any determination of the S&P Credit Support Amount shall be based on the greatest of Party B’s Exposure determined by the Valuation Agent and such Reference Market-makers.

More Definitions of Credit Support Amount

Credit Support Amount for a Subsequent Rating Event shall equal, with respect to a Transferor on a Valuation Date, (A) the greatest of:

Credit Support Amount shall not apply. For purposes of calculating any Delivery Amount or Return Amount for any Valuation Date, reference shall be made to the S&P Credit Support Amount, the Xxxxx’x First Trigger Credit Support Amount, or the Xxxxx’x Second Trigger Credit Support Amount, in each case for such Valuation Date, as provided in Paragraphs 13(b)(i)(A) and 13(b)(i)(B), above.

Credit Support Amount has the meaning specified under the relevant definition of Ratings Agency Requirement in paragraph (h)(vi) below. In circumstances where more than one of the Ratings Agency Requirements apply to Party A, the Credit Support Amount shall be calculated by reference to the Ratings Agency Requirement which would result in Party A transferring the greatest amount of Eligible Credit Support. Under no circumstances will Party A be required to transfer more Eligible Credit Support than the greatest amount calculated in accordance with the Ratings Agency Requirement set out below.

Credit Support Amount shall equal, with respect to a Transferor on a Valuation Date, (A) the greater of:

Credit Support Amount means, with respect to a Transferor on the Valuation Date:

Credit Support Amount has the meaning specified in Paragraph 13(j)(iv).

Credit Support Amount shall not have the meaning specified in Paragraph 3(b) and, instead, will have the following meaning: