Outstanding Credit Support definition
Examples of Outstanding Credit Support in a sentence
Buyer may, at any time and from time to time, replace any or all of the Credit Support provided by it (the “Outstanding Credit Support”) with one or more alternative forms of Credit Support, whereupon the Guaranteed Party shall cooperate in obtaining the concurrent release and termination of the Outstanding Credit Support.
After the Closing, to the extent that Seller or any of its Affiliates has performance obligations under any Outstanding Credit Support, Buyer will use commercially reasonable efforts to (x) perform such obligations on behalf of Seller or any of its Affiliates or (y) otherwise take such action as reasonably requested by Seller so as to put Seller or any of its Affiliates in the same position as if Buyer, and not Seller or any of its Affiliates, had performed or were performing such obligations.
The parties will amend any Outstanding Credit Support Document as necessary to give effect to the terms of clauses (a)(iii)(A) and (B) above.
A Credit Support Party shall have the right to, at any time and from time to time, replace any or all of the Credit Support provided by it (the "Outstanding Credit Support") with one or more alternative forms of Credit Support, whereupon the Guaranteed Party shall cooperate with the Credit Support Party in obtaining the concurrent release, termination or return (as many as may be applicable) of the Outstanding Credit Support in favor of or held by the Guaranteed Party.
If the Credit Support Agreement is terminated for any reason, upon such termination of the Subscriber will pay to the Company a cash amount equal to (A) the Outstanding Credit Support (as defined below) as of the termination date; less (B) any amounts due from the Company to the Subscriber under the Convertible Notes and/or the Note Documents.