Seller Credit Support definition

Seller Credit Support has the meaning set forth in Section 4.11(c).

Seller Credit Support means the guarantees, letters of credit, bonds, cash deposits, and other sureties and credit assurances provided to any Government Authority, contract counterparty or other Person by Seller or any of its Affiliates (other than Hanover) related to the or required under any of the Contracts.

Seller Credit Support means the MISO L/C and such other guaranties, letters of credit, documents and instruments as set forth on Schedule 1.01(c).

Examples of Seller Credit Support in a sentence

• Seller shall reimburse Buyer for reasonable out-of-pocket expenses of Buyer in connection with such cooperation, it being understood that such cooperation will not include any obligation to pay the counterparties to such Seller Credit Support Arrangements.

• Buyer and Sellers agree that the Seller Credit Support Arrangements are not intended to inure to the benefit of Buyer after the Closing and that Sellers intend to monetize the Seller Credit Support Arrangements after the Closing.

• In addition, Buyer agrees to cooperate with Sellers to enable Sellers to monetize the Seller Credit Support Arrangements for which Buyer is not required to enter into replacement credit support arrangements in accordance with the immediately preceding two sentences.

• Buyer agrees that Sellers shall have no responsibility to continue any of the Seller Credit Support Arrangements in order to satisfy obligations with respect to the Business and the Acquired Assets arising after the Closing Date.

• Buyer agrees that, to the extent that the Seller Credit Support Arrangements serve to secure performance of obligations relating to the Business or the Acquired Assets which arise after the Closing, Buyer will enter into replacement credit support arrangements if and as necessary to secure such post-Closing obligations.

More Definitions of Seller Credit Support

Seller Credit Support means the Initial Seller LC or any replacement credit support provided by Seller pursuant to Article 9, as such Initial Seller LC or replacement credit support is reduced or increased pursuant to Article 9.

Seller Credit Support means, collectively, the Delmarva Credit Support and the Old Dominion Credit Support.

Seller Credit Support has the meaning ascribed to it in Section 11.1.

Seller Credit Support. As set forth in the Master Agreement.

Seller Credit Support means Credit Support, in the form of a Letter of Credit in an amount limited to a reasonable estimate of the damages to Buyer (consistent with Section 12.5 of this Agreement) if Seller were to fail to perform its obligations, to secure Seller’s obligations under this Agreement.

Seller Credit Support means Seller Guarantees and Surety Bonds.

Seller Credit Support means, if applicable, the $9,000,000 paid by Buyer to Seller pursuant to the terms of the Escrow Agreement.