Unsecured Credit Allowance definition

Unsecured Credit Allowance means Unsecured Credit extended by PJMSettlement in an amount determined by PJMSettlement’s evaluation of the creditworthiness of a Participant. This is also defined as the amount of credit that a Participant qualifies for based on the strength of its own financial condition without having to provide Collateral. See also: “Working Credit Limit.”
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Unsecured Credit Allowance means Unsecured Credit extended by PJMSettlement in an amount determined by PJMSettlement’s evaluation of the creditworthiness of a Participant. This is also defined as the amount of credit that a Participant qualifies for based on the strength of its own financial condition without having to provide Financial Security. See also: “Working Credit Limit.”
Sample 1Sample 2Sample 3
Unsecured Credit Allowance means Unsecured Credit extended by PJMSettlement in an amount determined by PJMSettlement’s evaluation of the creditworthiness of a Participant.
Sample 1

Examples of Unsecured Credit Allowance in a sentence

  • Example: Participants A and B each have a $10.0 million Corporate Guaranty from their common parent, a holding company with an Unsecured Credit Allowance calculation of$12.0 million.

  • PJMSettlement may limit the Unsecured Credit Allowance for each Participant to $6.0 million, so the total Unsecured Credit Allowance does not exceed the corporate total of $12.0 million.

  • PJMSettlement will determine a Participant’s Unsecured Credit Allowance based on its Credit Score and the parameters in the table below.

  • If financial statements are not provided within the timeframe required, the Participant may not be granted an Unsecured Credit Allowance.

  • If a Corporate Guaranty is being utilized to establish credit for a Participant, the guarantor will be evaluated and the Unsecured Credit Allowance or Financial Security requirement will be based on the financial strength of the Guarantor.

  • A Participant may request PJMSettlement to perform a credit evaluation in order to determine creditworthiness and to establish an Unsecured Credit Allowance, if applicable.

  • If a Corporate Guaranty is being utilized to establish credit for a Participant, the Guarantor will be evaluated and the Unsecured Credit Allowance or Financial Security requirement will be based on the financial strength of the Guarantor.

  • PJMSettlement will work with Affiliated Participants to allocate the total Unsecured Credit Allowance among the Affiliates while assuring that no individual Participant, nor common guarantor, exceeds the Unsecured Credit Allowance appropriate for its credit strength.

  • A PJM Participant or Applicant that has an insufficient Unsecured Credit Allowance to satisfy its Peak Market Activity will be required to provide Financial Security such that its Unsecured Credit Allowance and Financial Security together are equal to its Peak Market Activity in order to secure its transactional activity in the PJM Market.

  • Each Participant will be subject to a complete credit evaluation in order for PJMSettlement to determine creditworthiness and to establish an Unsecured Credit Allowance, if applicable; provided, however, that a Participant need not provide the information specified in section I.A orI.B if it notifies PJMSettlement in writing that it does not seek any Unsecured Credit Allowance.

Related to Unsecured Credit Allowance

  • Administrative Costs means all costs and expenses associated with providing notice of the Settlement to the Settlement Class and otherwise administering or carrying out the terms of the Settlement. Such costs may include, without limitation: escrow agent costs, the costs of publishing the summary notice, the costs of printing and mailing the Notice and Proof of Claim, as directed by the Court, and the costs of allocating and distributing the Net Settlement Fund to the Authorized Claimants. Such costs do not include legal fees.

  • New Credit Agreement means the Credit Agreement, dated as of the Issue Date, by and among Level 3 Parent, LLC, Level 3 Financing, Inc., Wilmington Trust, National Association, as administrative agent, the New Credit Agreement Agent and each lender party thereto from time to time, as may be amended, restated, supplemented or otherwise modified from time to time.

  • Revolving Credit Agreement means that certain Revolving Credit Agreement dated as of August 30, 2004 between the Company, certain of its Subsidiaries and the banks and financial institutions listed therein, as such agreement may be replaced, amended, supplemented or otherwise modified from time to time.