S&P Credit Support Amount definition

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

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

S&P Credit Support Amount means, if the Threshold is zero for any Valuation Date, (a) if an S&P Approved Ratings Downgrade has occurred and has continued for 10 Local Business Days or since this Annex was executed, the Exposure; (b) if an S&P Required Ratings Downgrade has occurred and has continued for 10 Local Business Days, an amount equal to 125% of the Exposure or (c) if the Threshold is Infinity, zero.

Examples of S&P Credit Support Amount in a sentence

• If the S&P Value on any such Valuation Date of all Posted Credit Support then held by the Secured Party is less than the S&P Credit Support Amount on such Valuation Date (in each case as determined pursuant to this paragraph), Party A shall, within three Local Business Days of such Valuation Date, Transfer to the Secured Party Eligible Credit Support having an S&P Value as of the date of Transfer at least equal to such deficiency.

• Any determination of the S&P Credit Support Amount shall be based on the greatest of Party B’s Exposure determined by the Valuation Agent and such Reference Market-makers.

• Paragraph 4(c) shall be amended by inserting the words “, S&P Credit Support Amount and Fitch Credit Support Amount” after the world “Value”.

• The Valuation Percentages listed in (a) Annex A shall be applicable with respect to calculating Moody’s First Trigger Credit Support Amount and Moody’s Second Trigger Credit Support Amount and (b) Annex B shall be applicable with respect to calculating S&P Credit Support Amount.

• The instruments with the Valuation Percentages listed in (a) Annex A shall be applicable with respect to calculating ▇▇▇▇▇’▇ First Trigger Credit Support Amount and ▇▇▇▇▇’▇ Second Trigger Credit Support Amount, (b) Annex B shall be applicable with respect to calculating S&P Credit Support Amount and (c) Annex C shall be applicable with respect to calculating Fitch Credit Support Amount.

More Definitions of S&P Credit Support Amount

S&P Credit Support Amount means for the purposes of the S&P Criteria with respect to a Transferor on a Valuation Date:

S&P Credit Support Amount means, for any Valuation Date where the Threshold in respect of Party A is zero and (x) on which a Collateralization Event with respect to S&P has occurred and been continuing for at least 30 calendar days or (y) on which a Ratings Event with respect to S&P has occurred and is continuing, an amount equal to the sum of (1) the aggregate Secured Party’s Exposure for such Valuation Date with respect to all Transactions and (2) the aggregate of the products of the Volatility Buffer for each Transaction and the Notional Amount of each Transaction for the Calculation Period of each such Transaction which includes such Valuation Date.

S&P Credit Support Amount means: (A) if the Counterparty has elected that Option 1 applies pursuant to Part 5(j) of this Agreement and if an Initial S&P Ratings Event or a Subsequent S&P Ratings Event has occurred and is continuing after the last day of the Collateral Remedy Period, an amount equal to the sum of (i) 100% of the Exposure plus (ii) the VB multiplied by the sum of the Notional Amounts, determined on such Valuation Date, of the outstanding Transactions; (B) if the Counterparty has elected that Option 2 applies pursuant to Part 5(j) of this Agreement and (i) if an Initial S&P Ratings Event has occurred and is continuing after the last day of the Collateral Remedy Period, an amount equal to 125% of the Secured Party’s Exposure or (ii) a Subsequent S&P Ratings Event has occurred and is continuing after the last day of the Collateral Remedy Period, the greater of (1) an amount equal to the sum of (i) 100% of the Exposure plus (ii) the VB multiplied by the sum of the Notional Amounts, determined on such Valuation Date, of the outstanding Transactions and (2) the product of (i) the Exposure determined on such Valuation Date, and (ii) 1.3, or (C) if the Counterparty has elected that Option 3 applies pursuant to Part 5(j) of this Agreement and if the Subsequent S&P Ratings Event has occurred and is continuing after the last day of the Collateral Remedy Period, an amount equal to the product of (i) 100% of the Exposure determined on such Valuation Date, and (ii) 1.25.

S&P Credit Support Amount means, for any Valuation Date where the Threshold in respect of Party A is zero, (x) where an S&P Collateralization Event has occurred and been continuing (a) for at least 10 Business Days or (b) since this Credit Support Annex was executed, and no S&P Ratings Event has occurred and been continuing, the greater of zero and 100% of the Secured Party’s Exposure or (y) where a Ratings Event with respect to S&P has occurred and is continuing for at least 10 Business Days, an amount equal to the greater of zero and 125% of the Secured Party’s Exposure

S&P Credit Support Amount means with respect to Party A, so long as S&P rates the Notes, on a Valuation Date, the greater of the S&P First Trigger Credit Support Amount and the S&P Second Trigger Credit Support Amount.

S&P Credit Support Amount means: (A) if the S&P Threshold for Party A for such Valuation Date is zero and (i) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and (ii) either such Initial S&P Rating Event or such Subsequent S&P Rating Event was continuing when this Credit Support Annex was executed or 10 or more Business Days have elapsed since the S&P Threshold was infinity, an amount equal to the greater of (i) zero and (ii) the aggregate of each applicable Volatility Buffer plus the Secured Party's Exposure (if it is a positive number) minus the Pledgor's Exposure (if it is a positive number); or (B) if the S&P Threshold for Party A is infinity, zero.

S&P Credit Support Amount means, for any Valuation Date: (A) if the S&P Threshold for such Valuation Date is zero and it is not the case that an S&P Required Ratings Downgrade Event has occurred and been continuing for at least 10 Local Business Days, an amount equal to the greater of (x) zero and (y) than Secured Party's Exposure on such Valuation Date; (B) if the S&P Threshold for such Valuation Date is zero and it is the case that an S&P Required Ratings Downgrade Event has occurred and been continuing for at least 10 Local Business Days, an amount equal to the greater of (x) zero and (y) 125% of the Secured Party's Exposure on such Valuation Date; or (C) if the S&P Threshold for such Valuation Date is infinity, zero.