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.”
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. 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.

  • 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.

  • 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

  • Credit allowance date means with respect to any qualified equity investment:

  • Five-Year Credit Agreement means the Five Year Credit Agreement dated December 11, 2018, among the Company, the lenders parties thereto and Citibank, as administrative agent, as such agreement may be amended, supplemented or otherwise modified hereafter from time to time.

  • Prepetition Credit Agreement has the meaning specified in the recitals hereto.

  • First Lien Credit Agreement has the meaning set forth in the recitals hereto.

  • Term Loan Credit Agreement has the meaning set forth in the recitals to this Agreement.

  • Second Lien Credit Agreement means the Second Lien Credit Agreement, dated as of the Original Closing Date, among Holdings, the Borrower, as borrower, the lenders party thereto and Credit Suisse AG, Cayman Islands Branch, as administrative agent, as such document may be amended, renewed, restated, supplemented or otherwise modified from time to time.

  • Bank Credit Agreement means the Credit Agreement dated as of May 9, 2005 by and among the Company, certain Subsidiaries of the Company named therein, the Administrative Agent, and the Bank Lenders and other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Revolving Credit Availability means, at any particular time, the amount by which the Maximum Revolving Credit Amount at such time exceeds the Revolving Credit Obligations at such time.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • LOC means the entity awarded the Championships and entering into this Agreement, having executed the Attached Bid.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Exit Facility Credit Agreement means the credit agreement, Filed with the Plan Supplement, which credit agreement shall contain terms and conditions consistent in all respects with those set forth on the Exit Facility Term Sheet and, to the extent any terms and conditions are not set forth on or contemplated therein, such other terms and conditions as are acceptable to the Special Restructuring Committee and the Majority Noteholders in the manner set forth in the Restructuring Support Agreement.

  • DIP Credit Agreement means the Senior Secured Superpriority Debtor-in-Possession Credit Agreement, dated as of April 1, 2009, among the Companies, the Investor and the other lenders and agents from time to time party thereto, after giving effect to all amendments, waivers, supplements, modifications and any substitutions therefor.

  • Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.

  • Credit Amount has the meaning set forth in Section 4.01(b)(ii).

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Pre-Petition Credit Agreement has the meaning assigned to such term in the Recitals.

  • Administrative Costs means the administrative and other costs incurred by the Trustee and/or the Secretariat, in connection with the performance of their administrative services and other activities in support of the Trust Fund.

  • 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 the Credit Agreement, dated as of April 21, 2016, among the Borrower, the lenders party thereto from time to time and the Revolving Administrative Agent, as amended, restated, amended and restated, supplemented, modified, replaced, substituted, extended or refinanced from time to time in accordance with the terms hereof and thereof.

  • Retirement allowance means the retirement payments to which a member is entitled.