Net Obligations definition

Net Obligations means, as of any date of determination, the Total Accrued Loan Amount on such date less the sum of (i) the face amount of all Cash credited to the Collateral Accounts on such date (other than any Excluded Cash Proceeds credited to the Collateral Accounts), (ii) 99% of the aggregate fair market value of Cash Equivalents constituting Acceptable Collateral on such date, as determined by the Calculation Agent and (iii) the aggregate amount available to be drawn under all Eligible Letters of Credit that have been provided to the Applicable Lenders.

Net Obligations means, at any time, (i) the Total Accrued Loan Amount less (ii) the sum of (a) the face amount of Cash constituting Acceptable Collateral and (b) 99% of the aggregate Value of Cash Equivalents constituting Acceptable Collateral, in each case, at such time.

Net Obligations means, at any time, (a) the then-outstanding principal amount of all Advances and all accrued and unpaid interest thereon, less(b) the sum of: (i) the face amount of all Cash then constituting Acceptable Collateral; (ii) the Value of all Cash Equivalents then constituting Acceptable Collateral; (iii) the aggregate Stated Amount under all Eligible Letters of Credit that have been provided to the Applicable Lenders; and (iv) the aggregate net proceeds to be deposited to the Collateral Accounts for all Permitted Sale Transactions (if any) that have been executed prior to such time as to which the scheduled settlement date (or, if earlier, the actual settlement date) has not occurred as of such time.

Examples of Net Obligations in a sentence

PJMSettlement has the right to liquidate all or a portion of a Participant’s Financial Security at its discretion to satisfy Total Net Obligations to PJMSettlement in the event of default under this credit policy or one or more of the Agreements.
PJMSettlement will monitor the Participant’s Total Net Obligations against the Working Credit Limit.A Participant with an Unsecured Credit Allowance may choose to provide Financial Security in order to increase its Working Credit Limit.
Total Net Obligation is all unpaid billed Net Obligations plus any unbilled Net Obligation incurred to date, as determined by PJMSettlement on a daily basis, plus any other Obligations owed to PJMSettlement at the time.
PJMSettlement has the right to liquidate all or a portion of a Participant’s Collateral at its discretion to satisfy Total Net Obligations to PJMSettlement in the event of default under this Attachment Q or one or more of the Agreements.
Execution Instruction in respect of a Trade T+, not secured with funds for the fulfillment at the closest time for the fulfillment by Clearing Members of Total Net Obligations in securities, set by the Time Specifications, which is the Supplement to the Common part of the Clearing Rules, is excluded from the Clearing System and is not to be executed.

Net Obligations means, as of any date of determination, the Total Accrued Loan Amount on such date less the sum of (i) the face amount of all Cash credited to the Collateral Accounts on such date, (ii) 99% of the aggregate fair market value of Cash Equivalents constituting Acceptable Collateral on such date, as determined by Calculation Agent, (iii) 99% of the aggregate amount available to be drawn under any Eligible Letters of Credit that have been provided to the Applicable Lenders and (iv) the net proceeds of any Permitted Sale Transaction to be deposited in the Collateral Accounts evidenced by an Eligible Trade Ticket until the scheduled settlement date thereof (or, if earlier, the actual settlement date).

Net Obligations means an amount equal to the Obligations minus the Obligations under any Swap Contract.

Net Obligations means, at any date of determination, the net amount, exclusive of any commissions or administrative fees that a Person would be obligated to pay upon the termination of any Hedging Obligations.

Net Obligations means, as of any date of determination, the Total Accrued Loan Amount on such date (with accrued interest calculated assuming interest is paid in kind) less the sum of (i) the face amount of all Cash credited to the Collateral Accounts on such date, (ii) 99% of the aggregate fair market value of Cash Equivalents constituting Acceptable Collateral on such date, as determined by Calculation Agent and (iii) the net proceeds of any Permitted Sale Transaction to be deposited in the Collateral Accounts evidenced by a trade ticket delivered to the Calculation Agent until the scheduled settlement date thereof (or, if earlier, the actual settlement date).

Net Obligations. We shall not be obliged to Transfer Applicable Margin to you if you have a net exposure to us. You agree that all margining will be "one way” for our benefit. DIVIDENDS AND INTEREST AMOUNT

Net Obligations means, as of any date of determination, the Total Loan Principal Amount on such date, together with accrued and unpaid interest thereon, if any, less the sum of (i) the face amount of all Cash credited to the Collateral Accounts on such date, (ii) [REDACTED] of the aggregate fair market value of Cash Equivalents constituting Acceptable Collateral on such date, as determined by Calculation Agent, (iii) [REDACTED] of the aggregate amount available to be drawn under any Eligible Letters of Credit that have been issued for the benefit of the Applicable Lenders and (iv) the Required Sale Proceeds Amount with respect to all Permitted Sale Transactions (if any) that have been executed, and as to which Borrower has provided Calculation Agent with a trade ticket (which may be in the form of a screenshot delivered by electronic mail) evidencing such execution, prior to 5:00 p.m. on such date and as to which the scheduled settlement date (or, if earlier, the actual settlement date) has not occurred as of such date.