Other Credit Support Exception definition

Other Credit Support Exception. (a) with respect to any Other Credit Support constituting a guaranty, the guarantor thereunder fails to make payment after receipt of a demand for payment thereunder made in accordance with the terms of such guaranty, within three Business Days of its receipt of such demand (or such longer period permitted for payment under such guarantee) and (b) with respect to any Other Credit Support constituting a Letter of Credit or other letter of credit, the occurrence and continuance of any of the following: (i) a restraint or injunction shall be threatened or pending against the issuer of such Letter of Credit or other letter of credit or the Secured Commodity Hedge Counterparty that is the beneficiary thereof that restrains or limits or seek to restrain or limit a draw upon, or the application of proceeds from, such Letter of Credit or such other letter of credit prior to, concurrent with, or following such draw or application, (ii) the issuing bank of such Letter of Credit or such other letter of credit shall be subject to an Insolvency Proceeding, or (iii) the issuing bank shall have disavowed, repudiated or dishonored its obligations under such Letter of Credit or such other letter of credit after, if applicable, delivery to such issuing bank of a conforming draw request thereunder.
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Other Credit Support Exception means (a) with respect to any Other Credit Support constituting a guaranty, the guarantor thereunder fails to make payment after receipt of a demand for payment thereunder made in accordance with the terms of such guaranty, within three Business Days of its receipt of such demand or (b) with respect to any Other Credit Support constituting a letter of credit, the occurrence and continuance of any of the following: (i) a restraint or injunction shall be threatened against the issuer of such letter of credit or the applicable Eligible Commodity Hedging Counterparty or Interest Rate Hedge Bank, as applicable, that is the beneficiary thereof that restrains or limits or seeks to restrain or limit a draw upon, or the application of proceeds from, such letter of credit prior to, concurrently with, or following such draw or application, (ii) the issuing bank of such letter of credit shall be subject to a bankruptcy proceeding or (iii) the issuing bank of such letter of credit shall have disavowed, repudiated or dishonored its obligations under such letter of credit after, if applicable, delivery to such issuing bank of a conforming draw request thereunder.
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Other Credit Support Exception means (a) with respect to any Other Credit Support constituting a guaranty, the guarantor thereunder fails to make payment after receipt of a demand for payment thereunder made in accordance with the terms of such guaranty, within three Business Days of its receipt of such demand and (b) with respect to any Other Credit Support constituting a letter of credit, the occurrence and continuance of any of the following: (i) a restraint or injunction shall be threatened or pending against the issuer of such letter of credit or Secured Party that is the beneficiary thereof that restrains or limits or seek to restrain or limit a draw upon, or the application of proceeds from, such letter of credit prior to, concurrent with, or following such draw or application, (ii) the issuing bank of such letter of credit shall be subject to a bankruptcy, or (iii) the issuing bank shall have disavowed, repudiated or dishonored its obligations under such letter of credit after, if applicable, delivery to such issuing bank of a conforming draw request thereunder.
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More Definitions of Other Credit Support Exception

Other Credit Support Exception means (a) with respect to any Other Credit Support constituting a guaranty, the guarantor thereunder fails to make payment after receipt of a demand for payment thereunder made in accordance with the terms of such guaranty, within
Sample 1
Other Credit Support Exception means (a) with respect to any Other Credit Support constituting a guaranty, the guarantor thereunder fails to make payment after receipt of a demand for payment thereunder made in accordance with the terms of such guaranty, within three Business Days of its receipt of such demand (or such longer period permitted for payment under such guarantee) and (b) with respect to any Other Credit Support constituting a letter of credit, the occurrence and continuance of any of the following: (i) a restraint or injunction shall be threatened or pending against the issuer of such letter of credit or the Commodity Hedge Counterparty that is the beneficiary thereof that restrains or limits or seek to restrain or limit a draw upon, or the application of proceeds from, such letter of credit prior to, concurrently with, or following such draw or application, (ii) the issuing bank of such letter of credit shall be subject to a bankruptcy or (iii) the issuing bank of such letter of credit shall have disavowed, repudiated or dishonored its obligations under such letter of credit after, if applicable, delivery to such issuing bank of a conforming draw request under such letter of credit.
Sample 1
Other Credit Support Exception means (a) with respect to any Other Credit Support constituting a guaranty, the guarantor thereunder fails to make payment after receipt of a demand for payment thereunder made in accordance with the terms of such guaranty, within three Business Days of its receipt of such demand and (b) with respect to any Other Credit Support constituting a letter of credit, the occurrence and continuance of any of the following: (i) a restraint or injunction shall be threatened or pending against the issuer of such letter of credit or the Commodity Hedge Counterparty that is the beneficiary thereof that restrains or limits or seeks to restrain or limit a draw upon, or the application of proceeds from, such letter of credit prior to, concurrent with, or following such draw or application, (ii) the issuing bank of such letter of credit shall be subject to a bankruptcy or (iii) the issuing bank shall have disavowed, repudiated or dishonored its obligations under such letter of credit after, if applicable, delivery to such issuing bank of a conforming draw request thereunder. “Outstanding Amount” means, with respect to the First Lien Credit Agreement, at any time, an amount equal to the sum of (a) the aggregate principal amount of the First Lien Loans outstanding under the First Lien Credit Agreement at such time plus (b) the aggregate Available Amount of all Letters of Credit issued under the First Lien Credit Agreement and outstanding at such time plus (c) the aggregate amount of all outstanding and unused Commitments to extend credit that which, when funded, would constitute First Lien Loans under the First Lien Credit Agreement to the extent not terminated at such time. “Permitted Commodity Hedge and Power Sale Agreement” means any Commodity Hedge and Power Sale Agreement which is entered into by any Loan Party in connection with any Permitted Trading Activity and is permitted under all of the Financing Documents. “Permitted First Lien Hedge Amount” means, with respect to any First Lien Commodity Hedge and Power Sale Agreement and any related Commodity Hedge Guaranty (but without duplication), as of any date of determination, an amount equal to the lesser of (a) the amount of all Obligations of every nature outstanding and owed to the Commodity Hedge Counterparty party to such First Lien Commodity Hedge and Power Sale Agreement pursuant thereto at such time, including Ordinary Course Settlement Payments, Termination Payments and related Interest Expense and (b) the Maxi...
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Related to Other Credit Support Exception

  • Other Credit Agreement means that certain Credit Agreement, dated as of the Closing Date, between Pledgor, as borrower, the financial institutions as lenders from time to time party thereto and Investec, as Administrative Agent for the lenders.

  • QFC Credit Support has the meaning specified in Section 11.21.

  • Credit Support Instruments has the meaning set forth in Section 3.01(a).

  • Credit Support Instrument The instrument or document pursuant to which the Credit Support for a given Series (or Class within such Series) is provided, as specified in the applicable Supplement.

  • Credit Support Depletion Date The first Distribution Date on which the Certificate Principal Balances of the Subordinate Certificates have been reduced to zero.

  • Credit Support Default provisions of Section 5(a)(iii) will apply to Party A and will not apply to Party B.

  • credit supporter means a person or company that provides a guarantee or alternative credit support for any of the payments to be made by an issuer of securities as stipulated in the terms of the securities or in an agreement governing rights of, or granting rights to, holders of the securities;

  • Senior Credit Support Depletion Date The date on which the Class Certificate Balance of each Class of Subordinated Certificates has been reduced to zero.

  • S&P Credit Support Amount means, for any Valuation Date, the excess, if any, of:

  • Other Crossed Loans As defined in Section 2.03(a) of this Agreement.

  • Fitch Credit Support Amount means, for any Valuation Date, the excess, if any, of:

  • Credit Support Instrument" "Credit Support Provider"

  • Substitute Credit Support has the meaning specified in Paragraph 4(d)(i).

  • Other Creditors shall have the meaning provided in the recitals of this Agreement.

  • Credit Support Balance means, with respect to a Transferor on a Valuation Date, the aggregate of all Eligible Credit Support that has been transferred to or received by the Transferee under this Annex, together with any Distributions and all proceeds of any such Eligible Credit Support or Distributions, as reduced pursuant to Paragraph 2(b), Paragraph 3(c)(ii) or Paragraph 6. Any Equivalent Distributions or Interest Amount (or portion of either) not transferred pursuant to Paragraph 5(c)(i) or (ii) will form part of the Credit Support Balance.

  • Credit Support Provider has the meaning specified in the Schedule.

  • Credit Support Annex means the Credit Support Annex annexed to this Agreement.

  • Credit Support Pledge Agreement The Credit Support Pledge Agreement, dated as of November 24, 1998, among the Master Servicer, GMAC Mortgage Corporation, Combined Collateral LLC and The First National Bank of Chicago (now known as Bank One, National Association), as custodian.

  • Company Credit Agreement means the Amended and Restated Credit Agreement, dated as of September 30, 2016, as amended from time to time, among the Company, the guarantors named therein, the lenders named therein, and Xxxxx Fargo Bank, National Association, as administrative agent and collateral agent, and all pledge, security, guaranty and other agreements and documents related thereto.

  • Credit Support Amount has the meaning specified in Paragraph 3.

  • DIP Credit Agreement means the Senior Secured Superpriority Debtor-in-Possession Credit Agreement, dated as of April 1, 2009, among the Companies, the Investor and the other lenders and agents from time to time party thereto, after giving effect to all amendments, waivers, supplements, modifications and any substitutions therefor.

  • Credit Support Document means any agreement or instrument that is specified as such in this Agreement.

  • Borrower Credit Agreement Obligations the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of the Borrower (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, or the other Loan Documents, or any Letter of Credit, or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower pursuant to the terms of any of the foregoing agreements).

  • Lender Creditors shall have the meaning provided in the recitals of this Agreement.

  • Five-Year Credit Agreement means the Five-Year Credit Agreement, dated as of July 16, 2004, among the Borrower and certain of its affiliates, as borrowers, the lenders named therein, and Bank One NA, as administrative agent, as amended, supplemented or refinanced from time to time.

  • Pre-Petition Credit Agreement as defined in the recitals hereto.