NUG Contract definition
NUG Contract means a contract of the Borrower or any Subsidiary to supply power or energy to a Single Purpose Entity in connection with a NUG Transaction, or otherwise to support the performance of a Single Purpose Entity in a NUG Transaction. "NUG Contract Termination Value" shall mean, with respect to all NUG Contracts, (a) the net amount, if any, that would be required to be paid by the Borrower or any Subsidiary (other than a Single Purpose Entity) if such NUG Contracts (to the extent not covered by Qualified NUG Hedging Agreements) were terminated by reason of a default relating to the Borrower or any Subsidiary in excess of (b) the net amount, if any, that the Borrower or any Subsidiary would be entitled to receive if such NUG Contracts (to the extent not covered by Qualified NUG Hedging Agreements) were terminated by reason of a default relating to the Borrower or any Subsidiary; provided, however, that for purposes of determining coverage by a Qualified NUG Hedging Agreement, if the counterparty does not have Investment Grade Ratings (or provide a guarantee from an entity with Investment Grade Ratings), the Qualified NUG Hedging Agreement shall be deemed to provide one-half of the coverage it nominally provides. "NUG Transaction" shall mean a transaction entered into by a Single Purpose Entity, the principal purpose of which is to restructure the contracts relating to, or financing of, an existing independent power project, excluding any such transactions that were consummated prior to December 31, 1997. "Obligation Currency" shall have the meaning assigned to such term in Section 9.16. "Obligations" shall have the meaning assigned to such term in the Guarantee Agreement and the Security Documents.
NUG Contract means a contract of PGH or any of its subsidiaries to supply power or energy to a Single Purpose Entity in connection with a NUG Transaction, or otherwise to support the performance of a Single Purpose Entity in a NUG Transaction.
Examples of NUG Contract in a sentence
The Net Termination Value shall be determined (a) as of the end of the most recent fiscal quarter ended on or prior to such date if such Hedging Agreement (or NUG Contract) was then outstanding or (b) as of the date such Hedging Agreement (or NUG Contract) is entered into if it is entered into after the end of such fiscal quarter.