Provider Guarantor definition
Examples of Provider Guarantor in a sentence
Conversely, if, during the term of this Agreement, the Credit Rating of the Provider Guarantor is upgraded, then the Guaranty Cap and the Base Security amounts applicable to the Provider shall be those reflecting the improved Credit Rating.
If the Provider Guarantor’s Credit Rating improves so that a higher Guaranty Cap applies to the Provider’s Guarantor, then the T&D shall return a portion of the Provider Guarantor’s security equal to the amount of the associated increase in the Guaranty Cap within three (3) Business Days of Provider’s request for the return of such security and Provider’s provision of a guaranty by Provider Guarantor for the amount of security to be returned by the T&D.
Provider also must inform the T&D of a downgrade warning with respect to Provider or any Provider Guarantor provided by a Rating Agency in a public announcement within five (5) Business Days of such public announcement; provided, however, Provider’s failure to furnish such notice on a timely basis shall not constitute Provider’s breach of this Agreement for which a remedy may be pursued.
Without the prior written consent of Support Provider, Guarantor shall not (i) create, incur, assume or permit to exist any Indebtedness (as defined below) other than the ETP Retail Holdings Guarantee or (ii) consummate any transactions other than the ETP Retail Holdings Guarantee of the Supported Debt.
Without the prior written consent of Support Provider, Guarantor shall not (i) create, incur, assume or permit to exist any Indebtedness (as defined below) other than the Guarantee or (ii) consummate any transactions other than the Guarantee of the Supported Debt.
Provider also must inform the T&D of a downgrade warning with respect to Provider or any Provider Guarantor provided by a Rating Agency in a public announcement within five (5) Business Days of such public announcement; provided, however, Provider’s failure to furnish such notice of a downgrade warning on a timely basis shall not constitute Provider’s breach of this Agreement for which a remedy may be pursued.
The Guarantor undertakes to the Ministry and to each Participating Agency that if, for any reason, the Service Provider does not pay when due any indebtedness under the Agreement or a Participating Agency Agreement, it will pay the relevant amount to the Ministry or the relevant Participating Agency, as applicable, immediately on demand (whether or not demand for payment has been made on the Service Provider, Guarantor or any other person).
Without the prior written consent of Support Provider, Guarantor shall not (i) create, incur, assume or permit to exist any Indebtedness (as defined below) other than the Guarantees or (ii) consummate any transactions other than the Guarantees of the Supported Debt.
This Reimbursement Agreement is for the benefit only of the Support Provider, Guarantor and the Beneficiaries and is not intended to confer upon any other third party any rights or remedies hereunder, and shall not be construed as for the benefit of any other third party.
Operations Co shall execute and deliver, and shall cause the Service Provider and the Service Provider Guarantor to each execute and deliver, the Service Provider Direct Agreement in the form of Exhibit C-2 hereto.