Unsecured Credit means any credit granted by PJMSettlement to a Participant that is not secured by Collateral.
Unsecured Credit means an amount that is the lower of: (i) the relevant Unsecured Credit Limit as determined pursuant to Section 14.3 (Unsecured Credit); (ii) the relevant TNW Amount, as determined pursuant to Section 14.3 (Unsecured Credit); or (iii) the Guaranty Amount from Seller’s Guarantor as set forth in the Guaranty Agreement.
Unsecured Credit means the fur- nishing of service without maintaining on a continuing basis advance pay- ment, deposit, or other security, that is designed to assure payment of the estimated amount of service for each future 2 months period, with revised es- timates to be made on at least a monthly basis.§ 64.804 Rules governing the extension of unsecured credit to candidates or persons on behalf of such can- didates for Federal office for inter- state and foreign common carrier communication services.(a) There is no obligation upon a car- rier to extend unsecured credit for interstate and foreign communication services to a candidate or person on be- half of such candidate for Federal of- fice. However, if the carrier chooses to extend such unsecured credit, it shall comply with the requirements set forth in paragraphs (b) through (g) of this section.(b) If a carrier decides to extend un- secured credit to any candidate for Federal office or any person on behalf of such candidate, then unsecured cred- it shall be extended on substantially equal terms and conditions to all can- didates and all persons on behalf of all candidates for the same office, with due regard for differences in the esti- mated quantity of service to be fur- nished each such candidate or person.
Examples of Unsecured Credit in a sentence
If during the term of the Agreement, Seller’s or Seller’s Guarantor’s, if applicable, Credit Rating changes, by either being upgraded or downgraded by any of the rating agencies referenced in Section 14.3 (Unsecured Credit) of the Agreement, the Seller shall be required to provide written notice to Buyer of such Credit Rating change no later than two (2) Business Days after the date of such change.
With respect to Aggregate Transactions, if at any time and from time to time during the term of this Agreement, Aggregate Buyer’s Exposure exceeds the Unsecured Credit on any Business Day, then Buyer shall request that Seller post Performance Assurance in an amount equal to the amount by which Aggregate Buyer’s Exposure exceeds the Unsecured Credit (rounding upwards to the nearest $100,000), less any Performance Assurance already posted with Buyer.
More Definitions of Unsecured Credit
Unsecured Credit means the fur- nishing of service without maintaining on a continuing basis advance pay- ment, deposit, or other security, that is designed to assure payment of the estimated amount of service for each future 2 months period, with revised es- timates to be made on at least a monthly basis.
Unsecured Credit means any credit granted by PJMSettlement to a Participant that is not secured by a form of Financial Security.
Unsecured Credit means the fur- nishing of service without maintaining on a continuing basis advance pay- ment, deposit, or other security, that is designed to assure payment of the estimated amount of service for each future 2 months period, with revised es- timates to be made on at least a monthly basis.§ 64.804 Rules governing the extension of unsecured credit to candidates or persons on behalf of such can- didates for Federal office for inter- state and foreign common carrier communication services.
Unsecured Credit means advances or credit facilities granted without security, or in the case of any credit facility granted against security, any part of such advance or credit facility which at any given time exceeds the market value of the assets comprising the security given or which exceeds the valuation approved by the bank whenever the bank deems that no ascertainable market value exists for the said assets.
Unsecured Credit means any Credit Issued hereunder that is not secured by Collateral.
Unsecured Credit means credit extended only on the basis of the debtor’s promise to repay, without any collateral security.
Unsecured Credit means credit facilities granted without security by a SACA.