CREDIT QUALIFICATION AND COLLATERAL Sample Clauses

CREDIT QUALIFICATION AND COLLATERAL. ‌ Bidders submitting Winning Proposals may be required to post collateral at the time of execution of a PPA. The Companies and Brattle will evaluate the credit quality and related collateral posting requirements for each Respondent submitting a Proposal(s) in accordance with a uniform and consistent application of the Companies’ risk management practices and standards. This evaluation will occur as part of Brattle’s evaluation of a Respondent’s pre-qualification application. Credit Requirements are as follows: Respondent counterparties that have a minimum investment grade credit rating shall be deemed to have met the creditworthiness standard and shall not be required to post Performance Assurance. Performance Assurance may be in the form of cash, a letter of credit, or other security in a form acceptable to the Companies. A minimum investment grade credit rating is defined as the most recently published unsecured senior long-term debt rating (or corporate issuer rating if unsecured long-term debt rating is not available) of BBB- from Standard & Poor’s (S&P), BBB- from Fitch Ratings (Fitch), or Baa3 from Xxxxx’x Investor Service (Xxxxx’x), respectively. If the Respondent is rated by more than one agency and the ratings differ, the lowest rating will be used. • If a Respondent counterparty is either not rated by the aforementioned public rating agencies or has ratings below investment grade (as defined above), the creditworthiness standard may be met with cash, a Letter of Credit, or by issuing a corporate guaranty from an acceptable credit support provider that satisfies the above minimum investment grade standard. • The Companies’ acceptance of a corporate guaranty shall be subject to a satisfactory review of the credit support provider that is issuing the guaranty. In addition, the guaranty shall be in a form acceptable to the Companies. Any Respondent that does not meet the above creditworthiness requirements or provide an acceptable guaranty shall have the corresponding obligation to provide Performance Assurance. Performance Assurance will be equal to 15% of the Total Notional Value of the PPA, as specified in Exhibit G of the PPA (Appendix 1). The amount of required Performance Assurance will decline annually during commercial operation. Any Letter of Credit must be issued by a U.S. commercial bank or a foreign bank with a U.S. branch, with such bank having a credit rating of at least A- from S&P, or the equivalent credit rating from Moody’s or Fitch...
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Related to CREDIT QUALIFICATION AND COLLATERAL

  • Staff Qualifications a) CONTRACTOR shall ensure that all individuals employed, contracted, and/or otherwise hired by CONTRACTOR to provide classroom and/or individualized instruction or related services hold a license, certificate, permit, or other document equivalent to that which staff in a public school are required to hold in the service rendered consistent with Education Code section 56366.1(n)(1) and are qualified pursuant to Title 5 of the California Code of Regulations sections 3064 and 3065.

  • SMALL BUSINESS PARTICIPATION AND DVBE PARTICIPATION REPORTING REQUIREMENTS a. If for this Contract Contractor made a commitment to achieve small business participation, then Contractor must within 60 days of receiving final payment under this Contract (or within such other time period as may be specified elsewhere in this Contract) report to the awarding department the actual percentage of small business participation that was achieved. (Govt. Code § 14841.)

  • Insurer Qualifications, Insurance Requirements Each of the insurance coverages required below (i) shall be issued by a company licensed by the Insurance Commissioner to transact the business of insurance in the State of Georgia for the applicable line of insurance, and (ii) shall be an insurer (or, for qualified self-insureds or group self insureds, a specific excess insurer providing statutory limits) with a Best Policyholders Rating of "A-" or better and with a financial size rating of Class V or larger. Each such policy shall contain the following provisions:

  • LOCATION OF QUALIFIED PROPERTY AND INVESTMENT The Land on which the Qualified Property shall be located and on which the Qualified Investment shall be made is described in EXHIBIT 2, which is attached hereto and incorporated herein by reference for all purposes. The Parties expressly agree that the boundaries of the Land may not be materially changed from its configuration described in EXHIBIT 2 unless amended pursuant to the provisions of Section 10.2 of this Agreement.

  • IRO Qualifications The IRO shall:

  • Foreign Qualification Prior to the Company’s conducting business in any jurisdiction other than Delaware, the Majority Members shall cause the Company to comply, to the extent procedures are available and those matters are reasonably within the control of the Majority Members, with all requirements necessary to qualify the Company as a foreign limited liability company in that jurisdiction.

  • STATUTORY PENALTY FOR INADEQUATE QUALIFIED INVESTMENT Pursuant to Section 313.0275 of the TEXAS TAX CODE, in the event that the Applicant fails to make $10,000,000 of Qualified Investment, in whole or in part, during the Qualifying Time Period, the Applicant is liable to the State for a penalty. The amount of the penalty is the amount determined by: (i) multiplying the maintenance and operations tax rate of the school district for that tax year that the penalty is due by (ii) the amount obtained after subtracting (a) the Tax Limitation Amount identified in Section 2.4.B from (b) the Market Value of the property identified on the Appraisal District's records for the Tax Year the penalty is due. This penalty shall be paid on or before February 1 of the year following the expiration of the Qualifying Time Period and is subject to the delinquent penalty provisions of Section 33.01 of the TEXAS TAX CODE. The Comptroller may grant a waiver of this penalty in the event of Force Majeure which prevents compliance with this provision.

  • Qualification Requirements (a) You have entered into a Sales Contract with us with respect to the Xxxxxx Family of Mutual Funds (the "Xxxxxx Funds").

  • Definition of Qualifications a. In this Agreement, "necessary qualifications" in respect of a teaching position means that, in the professional judgement of the Superintendent of Schools, there is a reasonable expectation, based on the teaching certification, training, education and experience of a teacher that the teacher shall be able to perform the duties of the position in a satisfactory manner.

  • No Restriction on Existing Examination and Investigative Authority That this Agreement shall in no way preclude any State Mortgage Regulator from exercising its examination or investigative authority authorized under the laws of the corresponding Participating State in the instance a determination is made wherein Respondent is found not to be adhering to the requirements of the Agreement, other than inadvertent and isolated errors that are promptly corrected by Respondent, or involving any unrelated matter not subject to the terms of this Agreement. The Parties agree that the failure of Respondent to comply with any term or condition of this Agreement with respect to a particular State shall be treated as a violation of an Order of the State and may be enforced as such. Moreover, Respondent acknowledges and agrees that this Agreement is only binding on the State Mortgage Regulators and not any other Local, State or Federal Agency, Department or Office.

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