Financial Assurance Obligations definition

Financial Assurance Obligations means financial support provided to secure the obligations of School/ Government Supplier to this Agreement such as a Letter of Credit or other good and sufficient security of a continuing nature as reasonably determined satisfactory by Company in its sole discretion, and any obligations(s) in respect of the foregoing, all of which obligations and security shall be provided at the sole expense of the School/Government Supplier whose credit is being supported in a form, substance, and amount that is reasonably acceptable to Company, and consistent with credit and collateral requirements set forth herein.
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Financial Assurance Obligations means any financial security provided by a Party under the Agreement to meet or secure the obligations of that Party hereunder excluding the Default Fee Collateral, such as a Letter of Credit, a security interest in an asset, guaranty, or other good and sufficient security of a continuing nature as determined to be satisfactory by CenterPoint in its sole discretion, and any obligation(s) in respect of the foregoing, all of which obligations and security shall be provided at the sole expense of the Party whose credit is being supported in a form, substance and amount that is reasonably acceptable to CenterPoint, and consistent with credit and collateral requirements set forth herein. CenterPoint shall have no Financial Assurance Obligations under this Agreement so long as CenterPoint continues to perform in compliance with the SCO Program.
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Financial Assurance Obligations means financial support provided to secure the obligations of a Party to this Agreement such as a Letter of Credit, a security interest in an asset, or other good and sufficient security of a continuing nature as reasonably determined satisfactory by CenterPoint in its sole discretion, and any obligation(s) in respect of the foregoing, all of which obligations and security shall be provided at the sole expense of the Party whose credit is being supported in a form, substance and amount that is reasonably acceptable to CenterPoint, and consistent with credit and collateral requirements set forth herein. CenterPoint shall have no Financial Assurance Obligations under this Agreement so long as CenterPoint continues to perform in compliance with the Commission orders which approved and authorized CenterPoint's Choice Program.
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Examples of Financial Assurance Obligations in a sentence

  • School/Government Supplier agrees that, in the event of Default as that term is defined in Article 6 of this Agreement, Company shall have the right to use the proceeds from School/Government Supplier's Financial Assurance Obligations to satisfy School/Government Supplier's obligations under this Agreement.

  • In the event School/Government Supplier elects, or is forced, to terminate its participation in School/ Government Pooling Service in accordance with the provisions of this Agreement, or in the event of a Default resulting in termination of this Agreement, School/Government Supplier shall continue to maintain the Financial Assurance Obligations until Company confirms that School/Government Supplier has satisfied all of Company's outstanding claims.

  • If Company has reasonable grounds for insecurity regarding the performance of any obligation under this Agreement (whether or not then due) by School/Government Supplier (including, without limitation, the occurrence of a material change in the creditworthiness of School/Government Supplier), Company may demand adequate assurance of performance in the form of Financial Assurance Obligations.

  • The Financial Assurance Obligations may also be adjusted at the sole discretion of Company based upon School/Government Supplier's demonstrated ability or inability to pay promptly.

  • Failure of School/ Government Supplier to adjust the dollar amount of the Financial Assurance Obligations as directed by the Company may result in the Company limiting the enrollment of additional School/Government Pool Customers in School/ Government Supplier's Pool(s) and/or the Company's termination of service hereunder for violation of School/ Government Supplier's Code of Conduct.

  • The proceeds from such Financial Assurance Obligations shall be used to satisfy any outstanding claims that Company may have against School/ Government Supplier, including but not limited to, interstate pipeline capacity charges, imbalance charges, cash-out charges, pipeline penalty charges, reservation charges, and any other amounts owed to Company, for which Company is or will be responsible, related to School/Government Supplier's participation in School/Government Pooling Service.


More Definitions of Financial Assurance Obligations

Financial Assurance Obligations means any financial security provided by a Party under the Agreement to meet or secure the obligations of that Party hereunder excluding the Default Fee Collat- eral, such as a Letter of Credit, a security interest in an asset, guaranty, or other good and sufficient se- curity of a continuing nature as determined to be satisfactory by VEDO in its sole discretion, and any obligation(s) in respect of the foregoing, all of which obligations and security shall be provided at the sole expense of the Party whose credit is being supported in a form, substance and amount that is rea- sonably acceptable to VEDO, and consistent with credit and collateral requirements set forth herein. VEDO shall have no Financial Assurance Obligations under this Agreement so long as VEDO continues to perform in compliance with the SCO Program.
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Financial Assurance Obligations means financial support provided to secure the obligations of a Party to this Agreement such as a Letter of Credit, a security interest in an asset, or other good and sufficient security of a continuing nature as reasonably determined satisfactory by VEDO in its sole discretion, and any obligation(s) in respect of the foregoing, all of which obligations and security shall be provided at the sole expense of the Party whose credit is being supported in a form, substance and amount that is reasonably acceptable to VEDO, and consistent with credit and collateral requirements set forth herein. VEDO shall have no Financial Assurance Obligations under this Agreement so long as VEDO continues to perform in compliance with the Commission orders which approved and authorized VEDO’s Choice Program.
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Related to Financial Assurance Obligations

  • Financial assurance means a commitment of funds or resources by an operator to a regulatory authority that satisfies the requirements in s. 14 and is sufficient to pay for reclamation activities required by this chapter.

  • Financial Assurances means the financial assurances provided by the Shipper and accepted by the Carrier in accordance with Rule 19.

  • Financial Instrument Obligations means obligations arising under:

  • Compliance Obligations means obligations of the AMC to comply with: (a) laws or international guidance and internal policies or procedures, (b) any demand or request from authorities or reporting, disclosure or other obligations under laws, and (c) laws requiring us to verify the identity of our customers.

  • Compliance obligation means the quantity of verified reported emissions or assigned emissions for which an entity must submit compliance instruments to ARB.

  • Financial aid means loans and/or grants to needy students

  • Financial Agreement means an agreement that meets the

  • Provider of financial assurance means an entity that provides financial assurance to an Owner or Operator of an underground storage tank through one of the mechanisms listed in these Regulations, including a guarantor, insurer, risk retention group, surety, issuer of a letter of credit, issuer of a state required mechanism, or a state.

  • Guaranty Obligations means, with respect to any Person, without duplication, any obligations of such Person (other than endorsements in the ordinary course of business of negotiable instruments for deposit or collection) guaranteeing or intended to guarantee any Indebtedness of any other Person in any manner, whether direct or indirect, and including without limitation any obligation, whether or not contingent, (a) to purchase any such Indebtedness or any property constituting security therefor, (b) to advance or provide funds or other support for the payment or purchase of any such Indebtedness or to maintain working capital, solvency or other balance sheet condition of such other Person (including without limitation keep well agreements, maintenance agreements, comfort letters or similar agreements or arrangements) for the benefit of any holder of Indebtedness of such other Person, (c) to lease or purchase property, securities or services primarily for the purpose of assuring the holder of such Indebtedness, or (d) to otherwise assure or hold harmless the holder of such Indebtedness against loss in respect thereof. The amount of any Guaranty Obligation hereunder shall (subject to any limitations set forth therein) be deemed to be an amount equal to the outstanding principal amount (or maximum principal amount, if larger) of the Indebtedness in respect of which such Guaranty Obligation is made.

  • Intercompany Obligations as defined in the Guarantee and Collateral Agreement.

  • Structured Finance Obligation means any obligation issued by a special purpose vehicle and secured directly by, referenced to, or representing ownership of, a pool of receivables or other financial assets of any obligor, including collateralized debt obligations and mortgaged-backed securities. For the avoidance of doubt, if an obligation satisfies the definition of “Structured Finance Obligation”, such obligation shall not (a) qualify as any other category of Portfolio Investment and (b) be included in the Borrowing Base.

  • Safety Obligations means all applicable obligations concerning health and safety (including any duty of care arising at common law, and any obligation arising under statute, statutory instrument or mandatory code of practice) in Great Britain;

  • Cash Management Obligations means, with respect to any Person, all obligations, whether now owing or hereafter arising, of such Person in respect of overdrafts and related liabilities owed to any other Person that arise from treasury, depositary or cash management services, including any automated clearing house transfers of funds or any similar transactions.

  • Guaranty Obligation has the meaning specified in the definition of "Contingent Obligation."

  • Financial Assistance Agreement means the Financial Assistance Agreement by and between the State of Wisconsin by the Department of Natural Resources and the Department of Administration and the Municipality pursuant to which the Bonds are to be issued and sold to the State, substantially in the form attached hereto and incorporated herein by this reference;

  • Specified Obligations means Obligations consisting of the principal and interest on Loans, reimbursement obligations in respect of LC Disbursements and fees.

  • Reference Obligation means an obligation used for the purposes of determining the cash settlement value of a credit derivative;