Independent Amount and Invalidation Security Amount Sample Clauses

Independent Amount and Invalidation Security Amount. (i) Independent Amount. Party B shall have an “Independent Amount”, which means an amount that is equal to ten percent (10%) of the Notional Value of all Outstanding Transactions if at any time during the term of such Outstanding Transaction(s), Party B or its Guarantor has a Credit Rating below Investment Grade or does not have a Credit Rating. Party B shall transfer or cause to be transferred to PG&E Performance Assurance in the form of Cash or Letter of Credit to satisfy its Independent Amount requirements. The Independent Amount shall not be reduced for so long as there are any Outstanding Transactions and shall not be taken into account when calculating Party B’s Agreement Exposure. Upon execution of each Confirmation, Party B must transfer Performance Assurance in the form of Cash or Letter of Credit equal to the Independent Amount for that Transaction. For Transactions for Allowances, the Independent Amount for each Transaction shall be posted by Party B until the Allowance is Delivered to PG&E. For sake of certainty, with respect to Offset Credit Transactions, the Independent Amount shall be posted with PG&E until the Independent Amount applicable to that Offset Credit Transaction is converted to Invalidation Security in accordance with Paragraph 4(b)(ii) below, if applicable, or with Party B’s consent, PG&E may retain the amount posted as the Independent Amount and apply it as the Invalidation Security Amount.
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Related to Independent Amount and Invalidation Security Amount

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  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • CONCESSION PAYMENT AND INCREASE A. For the Initial Term of the Agreement, Concessionaire shall pay Department a minimum Concession Payment of Eight Hundred ($800.00) Dollars in accordance with the Concession Payment Schedule set forth in Exhibit B as consideration for the Concession, license and privilege granted. For subsequent Renewal Terms, if any, Concessionaire shall pay Department in accordance with the Concession Payment Schedule set forth in Exhibit B.

  • Allocation of Tranche Write-down Amounts to the Reference Tranches On each Payment Date on or prior to the Termination Date, the amount, if any, of the Tranche Write- down Amount for that Payment Date will be allocated, first, to reduce any Overcollateralization Amount for such Payment Date, until such Overcollateralization Amount is reduced to zero, and, second, to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

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  • Calculation of Liquidation Amount Upon the occurrence of a Liquidation Date:

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