Replacement Credit Support Sample Clauses

Replacement Credit Support. 17.3.1 If, at any time after 1 March 2024, the Guarantor is not an Acceptable Guarantor, the User shall within ten (10) Business Days:
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Replacement Credit Support. If the Seller Guarantor ceases to be an Acceptable Guarantor, then Seller shall be required to either (i) provide a replacement Seller Guaranty from a different Acceptable Guarantor, or (ii) replace the Seller Guaranty provided by the unqualified Seller Guarantor with a Seller Letter of Credit meeting the criteria set forth in this Article 16, in each case, no later than ten (10) Business Days after such the Guarantor ceases to be an Acceptable Guarantor. 47
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Replacement Credit Support. If, at any time, the issuer of the Seller Credit Support, Transmission Credit Support as required in Article 5 or, if required, any T&D Credit Support, fails to possess the minimum applicable requirements as Acceptable Credit Support (“Replacement Downgrade Event”), the Party causing such Credit Support to be issued shall deliver Replacement Credit Support in a form that meets the definition of Acceptable Credit Support and in the amount required pursuant to Sections 6.1.1, 6.2.1, 6.2.2, 6.2.3 or 6.3 (“Replacement Credit Support”) within five (5) Business Days of notice of such Replacement Downgrade Event. The other Party shall return the original Credit Support to the Party causing the Replacement Credit Support to be issued within five (5) Business Days after receipt of the Replacement Credit Support.
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Replacement Credit Support. (a) No later than thirty (30) days after the Closing Date, Buyer shall, and shall cause its Affiliates to, use commercially reasonable efforts to replace all Parent Support Obligations, with all required letters of credit, guarantees, bonds, surety contracts and other credit support arrangements (and any related reimbursement obligation) to support the payment and performance obligations related to the Projects under the applicable Contracts or Permits, in each case in accordance with the terms of such Contracts or Permits and in forms substantially similar to the Parent Support Obligations (or otherwise acceptable to the counterparties thereto), such that Seller or the Affiliate of Seller providing (or causing to be provided) such Parent Support Obligations shall be fully released with respect thereto.
Sample 1
Replacement Credit Support. With respect to the Credit Support Arrangement identified on Schedule 4.1(h), on or prior to the Closing Date the Buyer shall have executed and delivered to the relevant beneficiary a replacement Credit Support Arrangement in substantially the same form as the credit support to be replaced, provided that the beneficiary is willing to accept such credit support from the Buyer, or in such other form as acceptable to the beneficiary and the Buyer.
Sample 1
Replacement Credit Support. Buyer shall tender replacement credit support instruments (the Replacement Credit Support) at the Closing that fully satisfy the obligations of Sellers, or of any Affiliate of Sellers in support thereof, to provide the Seller Credit Support. Buyer shall take all action necessary during the Pre-Closing Period to ensure that such Replacement Credit Support will be available at Closing, including delivering drafts of letters of credits and guarantees and providing credit and other necessary information to Sellers and the intended beneficiary of such Replacement Credit Support, as soon as reasonably possible after the Agreement Date.
Sample 1
Replacement Credit Support. Buyer shall use its reasonable best efforts to cause Seller and its Affiliates (other than the Acquired Companies) to be removed or released, effective as of the Closing, in respect of all obligations of Seller and such Affiliates under each of the guarantees, indemnities, surety bonds, letters of credit and letters of comfort obtained by Seller and such Affiliates for the benefit of the Acquired Companies that are set forth on Section 6.16 of the Disclosure Schedule and to achieve such removal or release, shall agree to substitute itself (or a controlled Affiliate) in the place of such Seller or its Affiliate. Sellers and their Affiliates shall take all actions reasonably requested by Buyer in connection with any such removal or release. Buyer agrees to indemnify and hold harmless Seller and its Affiliates from and against any Losses actually incurred by Seller and its Affiliates from after the Closing under or pursuant to any such guarantee, indemnity, surety bond, letter of credit or letter of comfort.
Sample 1
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Replacement Credit Support. On the Closing Date, CECG shall provide to SET: (i) a Letter of Credit satisfying the conditions of Section 2.02 that will be available to reimburse SET for any draws under any Third Party Credit Support and as credit support for the payment obligations specified in Section 3.02; and (ii) any additional credit support required pursuant to the A&R ISDAs.
Sample 1

Related to Replacement Credit Support

  • Credit Support A Credit Support Document between the Parties may apply to obligations governed by the Agreement. If the Parties have executed a Credit Support Document, such Credit Support Document shall be subject to the terms of the Agreement and is hereby incorporated by reference in the Agreement. In the event of any conflict between a Credit Support Document and the Agreement, the Agreement shall prevail, except for any provision in such Credit Support Document in respect of governing law.

  • Alternative Credit Support Election (a) The Sellers may elect to effect a change in the calculation of the Class Percentage with respect to Finance Charge Collections during the Early Accumulation Period or the Amortization Period, as set forth in the definition of "Class Percentage," and increase the Available Class B Credit Enhancement Amount, by making an Alternative Credit Support Election. An Alternative Credit Support Election may be made as follows:

  • Credit Support Obligations (i) Delivery Amount, Return Amount and Credit Support Amount.

  • Certain Credit Support Events If (i) the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, (ii) as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, (iii) the Borrower shall be required to provide Cash Collateral pursuant to Section 2.05 or 8.02(c), or (iv) there shall exist a Defaulting Lender, the Borrower shall immediately (in the case of clause (iii) above) or within one (1) Business Day (in all other cases) following any request by the Administrative Agent or the L/C Issuer, provide Cash Collateral in an amount not less than the applicable Minimum Collateral Amount (determined in the case of Cash Collateral provided pursuant to clause (iv) above, after giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

  • Credit Support Provider Credit Support Provider means in relation to Party A, not applicable. Credit Support Provider means in relation to Party B, not applicable.

  • Credit Enhancement 55 SECTION 12.

  • Credit Support Default (1) Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed by it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed;

  • Replacement of a Lender (i) If any Lender becomes a Defaulting Lender or a Non-Consenting Lender, then the Borrower may, at its sole expense and effort, upon not less than five (5) Business Days advance notice to the Administrative Agent and (if different) the related Lender, (x) require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 12.04), all of its respective interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender if a Lender accepts such assignment); provided that (A) the Borrower shall have received the prior written consent of the Administrative Agent with respect to any assignee that is not already a Lender hereunder, which consent shall not be unreasonably withheld, (B) the assignee shall not be an Affiliate of any of the Borrower, the Servicer or the Transferor, (C) such assigning Lender shall have received payment of an amount equal to all outstanding Advances funded or maintained by such Lender, together with all accrued interest thereon and all accrued Fees, and (D) in the case of any such assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have agreed to, and shall be sufficient (together with all other consenting Lenders) to cause the adoption of, the applicable consent, waiver or amendment of the Transaction Documents or (y) terminate the Commitment of such Lender and repay all Obligations of the Borrower owing to such Lender relating to the portion of the Advance held by such Lender as of such termination date, without the payment of any penalty, fee or premium. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to exist.

  • Credit Support Documents Details of any Credit Support Document, each of which is incorporated by reference in, and made part of, this Agreement and each Confirmation (unless provided otherwise in a Confirmation) as if set forth in full in this Agreement or such Confirmation: (i) Guaranty dated as of the date hereof by Enron Corp. in favor of Party B as beneficiary thereof in the form attached hereto as Exhibit A, and (ii) ISDA Credit Support Annex attached hereto as Annex A.

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