Credit Support Arrangement definition

Credit Support Arrangement means any arrangement by a Person in which guaranties (including guaranties of performance or payment under agreements, commitments, obligations and permits), keepwells, letters of credit or other credit or credit support arrangements, including bid bonds, advance payment bonds, performance bonds, payment bonds, retention and/or warranty bonds or other bonds or similar instruments, were or are issued, entered into or otherwise put in place by such Person to support or facilitate, or otherwise in respect of, the Indebtedness, Liabilities or obligations of another Person.

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Credit Support Arrangement shall have the meaning set forth in Section 3.2.

Credit Support Arrangement shall have the meaning set forth in Section 5.30.

Examples of Credit Support Arrangement in a sentence

• In no event shall Alpine and Buyer be liable to Sellers for any nonperformance by any Seller with respect to any obligation under any Credit Support Arrangement prior to the Closing.

• Such notice shall be accompanied by information and documentation (including such information and documentation requested by Merck) supporting the calculation of any amounts then outstanding (whether or not due and payable) for which Merck could become liable and shall describe the actions taken by Medco during such calendar quarter to seek a release of Merck's obligations under each Credit Support Arrangement.

• If any member of the Merck Group shall not have been fully released from its obligations under any Credit Support Arrangement as of the first day of any calendar month, within ten days after the completion of such calendar month, Medco shall notify Merck in writing of the amounts for which Merck could become liable under each such Credit Support Arrangements as of the last day of such calendar month.

• Medco shall keep Merck apprised on a regular basis with respect to all developments relating to such default or event and shall provide to Merck, within five days of a written request therefor such other information as Merck may request relating to the status of Medco's obligations under any agreement subject to a Credit Support Arrangement.

• For purposes of this Section 4.10, the "notional value" of the obligations underlying a Credit Support Arrangement means the total maximum exposure of UtiliCorp under that Credit Support Arrangement, without regard to market conditions or other factors.

• Buyer shall provide to Seller at Closing written evidence of such Replacement Credit Support Arrangement.

• Buyer shall indemnify, defend and hold harmless Seller and its Subsidiaries from any and all Damages relating to, resulting from, or arising out of, any Credit Support Arrangement to the extent any such Damages relate to, result from, or arise out of the use of the Purchased Assets or the operation of Business on or after the Closing Date.

• HEP Tulsa shall indemnify, defend and hold harmless the Seller (and its Affiliates), and their respective directors, officers, employees, agents and Representatives, from and against any and all Damages relating to, resulting from, or arising out of, any HEP Tulsa Allocable Credit Support Arrangement to the extent any such Damages relate to, result from, or arise out of the use of the Assets or the operation of Business by HEP Tulsa or its Affiliates on or after the Closing Date.

• No Seller guarantees, or is otherwise liable for, the Indebtedness of any other Person (other than the Closing Date Indebtedness) or is party to any Credit Support Arrangement in favor of any other Person.

• The Buyer shall indemnify, defend and hold harmless the Seller (and its Affiliates), and their respective directors, officers, employees, agents and Representatives, from and against any and all Damages relating to, resulting from, or arising out of, any Credit Support Arrangement to the extent any such Damages relate to, result from, or arise out of the use of the Assets or the operation of Business on or after the Closing Date.

More Definitions of Credit Support Arrangement

Credit Support Arrangement means, for any Person, any arrangement by such Person in which such Person provides a guaranty (including any guaranty of performance or payment under Contracts), keepwell, letter of credit or other credit or credit support arrangement, including any bid bond, advance payment bond, performance bond, payment bond, retention or warranty bond or other bond or similar instrument, issued to support or facilitate or otherwise in respect of the Liabilities or obligations of another Person. “Earn-Out Period” has the meaning set forth in Exhibit G to this Agreement. “Employee Benefit Plan” means each “employee benefit plan” as defined in Section 3(3) of ERISA, whether or not subject to ERISA, and all other bonus, incentive compensation, deferred compensation, profit sharing, equity, phantom equity, stock option, stock appreciation right, stock bonus, stock purchase, employee stock ownership, savings, severance, termination, retention, change-in-control, layoff, redundancy, salary continuation, retirement, pension, health, life insurance, dental, disability, accident, group insurance, employment, consulting, paid time off, deferred compensation, supplemental income, vacation, holiday, sick leave, fringe benefit or welfare plan, and any other employee compensation or benefit plan, agreement (or form thereof), policy, practice, commitment, contract, or understanding (whether qualified or nonqualified, written or unwritten), including (for the avoidance of doubt) any written employment contract applicable to any Business Employee. “Entity” means any corporation (including any nonprofit corporation), general partnership, limited partnership, limited liability partnership, joint venture, estate, trust, company (including any company limited by shares, limited liability company or joint stock company) or other association, organization or entity (including any Governmental Authority). “Environmental Claim” means any Claim alleging Liability (including Liability for investigatory costs, cleanup costs, governmental response costs, natural resources damages, property damages, personal injuries or penalties) arising out of, based on or resulting from (a) the presence, or Release into the environment, of, or exposure to, any Hazardous Materials at any location, whether or not owned or operated by the Company or (b) any violation of any Environmental Law or Environmental Permit.

Credit Support Arrangement has the meaning set forth in Section 6.8.