Working Credit Limit definition

Working Credit Limit means an amount is 75% of the Participant’s Unsecured Credit Allowance and/or 75% of the Collateral provided by the Participant to PJMSettlement. The Working Credit Limit establishes the maximum amount of Total Net Obligation that a Participant may have outstanding at any time. The calculation of Working Credit Limit shall take into account applicable reductions for Minimum Participation Requirements, FTR, or other credit requirement determinants as defined in Tariff, Attachment Q.
Working Credit Limit means an amount is 75% of the Participant’s Unsecured Credit Allowance and/or 75% of the Collateral provided by the Participant to PJMSettlement. The Working Credit Limit establishes the maximum amount of Total Net Obligation that a Participant may have outstanding at any time. The calculation of Working Credit Limit shall take into account applicable reductions for Minimum Participation Requirements, FTR, or other credit requirement determinants as defined inTariff, Attachment Q.
Working Credit Limit means an amount that is 75% of the Participant’s Unsecured Credit Allowance determined by PJMSettlement and/or 75% of the Collateral provided by the Participant to PJMSettlement. The Working Credit Limit establishes the maximum amount of Total Net Obligation that a Participant may have outstanding at any time. A Participant’s Total Net Obligation should not exceed its Working Credit Limit. The calculation of Working Credit Limit shall take into account applicable reductions for Minimum Participation Requirements, FTR participation (for which there is no Unsecured Credit Allowance available), RPM participation, or other credit requirement determinants as defined in Tariff, Attachment Q.

Examples of Working Credit Limit in a sentence

  • A Participant’s Total Net Obligation should not exceed its Working Credit Limit.

  • PJMSettlement will identify any necessary Financial Security requirements and establish a Working Credit Limit for each Participant.

  • PJMSettlement will establish a Working Credit Limit for each Participant against which its Total Net Obligation will be monitored.

  • Prior to becoming a Market Participant, Transmission Customer, and/or Member of PJM, PJMSettlement must accept and approve a Credit Application (including Credit Agreement) from such entity and establish a Working Credit Limit with PJMSettlement.

  • A Participant that exceeds its Working Credit Limit is subject to suspension from participation in the PJM markets and from scheduling any future Transmission Service unless and until Participant’s credit standing is brought within acceptable limits.

  • A Participant is subject to notification when its Total Net Obligation to PJMSettlement approaches the Participant’s established Working Credit Limit.

  • A corresponding Working Credit Limit will be established based on the Unsecured Credit Allowance and/or the Financial Security provided.

  • The Working Credit Limit is defined as 75% of the Financial Security provided to PJMSettlement and/or 75% of the Unsecured Credit Allowance determined by PJMSettlement based on a credit evaluation.

  • If two or more Participants are Affiliates and each is being granted an Unsecured Credit Allowance and a corresponding Working Credit Limit, PJMSettlement will consider the overall creditworthiness of the Affiliated Participants when determining the Unsecured Credit Allowances and Working Credit Limits in order not to grant more Unsecured Credit than the overall corporation could support.

  • The Participant will be assigned a Working Credit Limit of $8.5 million.


More Definitions of Working Credit Limit

Working Credit Limit means an amount is 75% of the Participant’s Unsecured Credit Allowance and/or 75% of the Collateral provided by the Participant to PJMSettlement. The Working Credit Limit establishes the maximum amount of Total Net Obligation that a Participant may have outstanding at any time. The calculation of Working Credit Limit shall Xxxxxxx Xxxxxx 5/31/2017 Xxxx Xxxxxxx 6/2/2017 Xxxxx X Xxxx 6/1/2017 determinants as defined inTariff, Attachment Q. Working Credit Limit for Virtual Transactions: The “Working Credit Limit for Virtual Transactions” shall be calculated as 75% of the Market Participant’s Unsecured Credit Allowance and/or 75% of the Collateral provided by the Market Participant to PJMSettlement when the Market Participant is at or below its Peak Market Activity credit requirements as specified in Tariff, Attachment Q, section V.A. When the Market Participant provides additional Unsecured Credit Allowance and/or Collateral in excess of its Peak Market Activity credit requirements, such additional Unsecured Credit Allowance and/or Financial Security shall not be discounted by 25% when calculating the Working Credit Limit for Virtual Transactions. The Working Credit Limit for Virtual Transactions is a component in the calculation of Credit Available for Virtual Transactions. The calculation of Working Credit Limit for Virtual Transactions shall take into account applicable reductions for Minimum Participation Requirements, FTR, or other credit requirement determinants as defined in Tariff, Attachment Q. Zonal Base Load:

Related to Working Credit Limit

  • FTR Credit Limit means the amount of credit established with PJMSettlement that an FTR Participant has specifically designated to be used for FTR activity in a specific customer account. Any such credit so set aside shall not be considered available to satisfy any other credit requirement the FTR Participant may have with PJMSettlement.

  • Credit Limit means the total dollar amount of the Account which we approved and which you may borrow against according to the terms of this Agreement.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Credit Line as defined in Section 2.1.

  • 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.

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Revolving Credit Percentage as to any Revolving Credit Lender at any time, the percentage which such Lender's Revolving Credit Commitment then constitutes of the Total Revolving Credit Commitments (or, at any time after the Revolving Credit Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender's Revolving Credit Loans then outstanding constitutes of the aggregate principal amount of the Revolving Credit Loans then outstanding).

  • Total Revolving Credit Exposure means, at any time, the sum of the outstanding principal amount of all Lenders’ Revolving Loans, their LC Exposure and their Swingline Exposure at such time; provided, that clause (a) of the definition of Swingline Exposure shall only be applicable to the extent Lenders shall have funded their respective participations in the outstanding Swingline Loans.

  • Revolving Credit means the credit facility for making Revolving Loans and Swing Loans and issuing Letters of Credit described in Sections 1.2, 1.3 and 1.7 hereof.

  • Letter of Credit Limit means $5,000,000.

  • Revolving Credit Outstandings means, at any particular time, the sum of (a) the principal amount of the Revolving Loans outstanding at such time, (b) the Letter of Credit Obligations outstanding at such time and (c) the principal amount of the Swing Loans outstanding at such time.

  • Revolving Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time.

  • Revolving Credit Note means a promissory note of the Borrower payable to any Revolving Credit Lender or its registered assigns, in substantially the form of Exhibit C-2 hereto, evidencing the aggregate indebtedness of the Borrower to such Revolving Credit Lender resulting from the Revolving Credit Loans made by such Revolving Credit Lender.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Maximum Revolving Credit Amount means $85,000,000.00.

  • Revolving Credit Facilities means the collective reference to the Dollar Revolving Credit Facility and the Alternative Currency Revolving Credit Facility.

  • Aggregate Revolving Credit Outstandings shall have the meaning provided in Section 5.2(b).

  • Revolving Credit Notes means the separate Revolving Credit Notes made by the Borrower payable to the order of each Lender, substantially in the form of Exhibit A hereto, evidencing the Credit Facility, and any amendments and modifications thereto, any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part; "Note" means any of such Revolving Credit Notes.

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).

  • Revolving Credit Period means the period from and including the Effective Date to but excluding the Termination Date.

  • Maximum Swingline Amount means $5,000,000.

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Revolving Credit Loans as defined in Section 2.1.