Credit Support Amount definition

Credit Support Amount has the meaning specified in Paragraph 3.

Credit Support Amount means, unless otherwise specified in Paragraph 13, for any Valuation Date (i) the Secured Party’s Exposure for that Valuation Date plus (ii) the aggregate of all Independent Amounts applicable to the Pledgor, if any, minus (iii) all Independent Amounts applicable to the Secured Party, if any, minus (iv) the Pledgor’s Threshold; provided, however, that the Credit Support Amount will be deemed to be zero whenever the calculation of Credit Support Amount yields a number less than zero.

Credit Support Amount means, with respect to a Transferor on a Valuation Date, (i) the Transferee’s Exposure plus (ii) all Independent Amounts applicable to the Transferor, if any, minus (iii) all Independent Amounts applicable to the Transferee, if any, minus (iv) the Transferor’s Threshold; provided, however, that the Credit Support Amount will be deemed to be zero whenever the calculation of Credit Support Amount yields a number less than zero.

Examples of Credit Support Amount in a sentence

• Upon demand by a Party (the “Transferee”) on or promptly following a Valuation Day, the other Party (the “Transferor”) shall transfer to the Transferee Eligible Credit Support in an amount equal to the amount by which the Credit Support Amount of the Transferee exceeds the Eligible Credit Support held by the Transferee at the Valuation Time.

• In the event that an Independent Amount has been agreed for a Party in Clause 14.9, such amount shall be added to the Exposure of the other Party when determining the Credit Support Amount of such other Party, and shall be deducted from its own Exposure when determining its own Credit Support Amount.

• Seller shall maintain Credit Support for the benefit of PGE having an aggregate value at least equal to the Credit Support Amount then applicable to Seller until the later of (x) the end of the Delivery Term and (y) the date on which all of Seller’s obligations under this Agreement have been satisfied in full (other than contingent obligations with respect to which PGE has not made a claim).

• Upon written request by the Transferor on or promptly following a Valuation Day, the Transferee shall within three (3) Business Days of receipt of such request, transfer to the Transferor Eligible Credit Support in an amount equal to the amount by which the Eligible Credit Support held by the Transferee exceeds the Credit Support Amount of the Transferee at the Valuation Time.

More Definitions of Credit Support Amount

Credit Support Amount shall not apply. For purposes of calculating any Delivery Amount or Return Amount for any Valuation Date, reference shall be made to the S&P Credit Support Amount, the Xxxxx’x First Trigger Credit Support Amount, or the Xxxxx’x Second Trigger Credit Support Amount, in each case for such Valuation Date, as provided in Paragraphs 13(b)(i)(A) and 13(b)(i)(B), above.

Credit Support Amount has the meaning specified under the relevant definition of Ratings Agency Requirement in paragraph (h)(vi) below. In circumstances where more than one of the Ratings Agency Requirements apply to Party A, the Credit Support Amount shall be calculated by reference to the Ratings Agency Requirement which would result in Party A transferring the greatest amount of Eligible Credit Support. Under no circumstances will Party A be required to transfer more Eligible Credit Support than the greatest amount calculated in accordance with the Ratings Agency Requirement set out below.

Credit Support Amount for a Subsequent Rating Event shall equal, with respect to a Transferor on a Valuation Date, (A) the greatest of:

Credit Support Amount shall equal, with respect to a Transferor on a Valuation Date, (A) the greater of:

Credit Support Amount means, with respect to a Transferor on the Valuation Date:

Credit Support Amount has the meaning specified in Paragraph 13(j)(iv).

Credit Support Amount shall not have the meaning specified in Paragraph 3(b) and, instead, will have the following meaning: