Invalidation Security Amount Sample Clauses

Invalidation Security Amount. Following Delivery of the Offset Credit and for the entire Invalidation Term, the Invalidation Security Amount will be added to the Agreement Exposure calculation in accordance with Section 4.1(a)(ii). “Invalidation Security Amount” means an amount that is equal to twenty percent (20%) of the Notional Value of all Offset Credits that have been Delivered and are within the Invalidation Term. If Party B fails to post additional Performance Assurance for the Invalidation Security Amount, in addition to SDG&E’s rights under the Master Agreement, SDG&E may elect instead and at its sole discretion to withhold such amount from current or future payment owed to Party B for the Delivered Offset Credits as cash posted for the Invalidation Security.
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Invalidation Security Amount. Following Delivery of the Offset Credit and for the entire Invalidation Term, the Invalidation Security Amount will be added to the Agreement Exposure calculation in accordance with Paragraph 4.1(a)(ii). “Invalidation Security Amount” means an amount that is equal to twenty percent (20%) of the Notional Value of all Offset Credits that have been Delivered and are within the Invalidation Term. If Party B fails to post additional Performance Assurance for the Invalidation Security Amount, if applicable, in addition to PG&E’s rights under the Master Agreement, PG&E may elect instead and at its sole discretion to withhold such amount from current or future payment owed to Party B for the Delivered Offset Credits as cash posted for the Invalidation Security. If an Event of Default has occurred and the Master Agreement is terminated pursuant to Section 9.3 of the Master Agreement and Party B’s obligations are being fully secured by a guaranty, then Party B shall either post cash or provide a Letter of Credit (the form of security to be posted to be at the sole discretion of Party B) to PG&E for the full amount of the Invalidation Security Amount; provided, however, that an Event of Default under a Transaction Confirmation which does not trigger an Event of Default under the Master Agreement will not cause such a posting obligation. If the Invalidation Event under the Transaction Confirmation is an Invalidation Default, then PG&E shall be entitled to immediately retain for its own benefit those funds held as Invalidation Security.
Sample 1
Invalidation Security Amount. Following Delivery of the Offset Credit and for the entire Invalidation Term, the Invalidation Security Amount will be added to the Agreement Exposure calculation in accordance with Paragraph 4.1(a)(iii). “Invalidation Security Amount” means an amount that is equal to twenty percent (20%) of the Notional Value of all Offset Credits that have been Delivered and are within the Invalidation Term. If Party B fails to post additional Performance Assurance for the Invalidation Security Amount, if applicable, in addition to PG&E’s rights under the Master Agreement, PG&E may elect instead and at its sole discretion to withhold such amount from current or future payment owed to Party B for the Delivered Offset Credits as cash posted for the Invalidation Security. If the Invalidation Event under the Transaction Confirmation is an Invalidation Default, then PG&E shall be entitled to immediately retain for its own benefit those funds held as Invalidation Security.
Sample 1
Invalidation Security Amount. Following Delivery of the Offset Credit, the Invalidation Security Amount will be added to the Agreement Exposure calculation in accordance with Paragraph 4.1(a)(iii) till Party B has fulfilled all the obligations and liabilities in the Invalidation Term. “Invalidation Security Amount” means an amount that is equal to twenty percent (20%) of the Notional Value of all Offset Credits that have been Delivered and are within the Invalidation Term. If Party B fails to post additional Performance Assurance for the Invalidation Security Amount, if applicable, in addition to PG&E’s rights under the Agreement, PG&E may elect instead and at its sole discretion to withhold such amount from current or future payment owed to Party B for the Delivered Offset Credits as cash posted for the Invalidation Security. If the Invalidation Event under the Offset Credit Confirmation is an Invalidation Default, then PG&E shall be entitled to immediately retain for its own benefit those funds held as Invalidation Security.
Sample 1

Related to Invalidation Security Amount

  • Application Security The ISP will require that in-house application development be governed by a documented secure software development life cycle methodology, which will include deployment rules for new applications and changes to existing applications in live production environments.

  • Compromises and Collection of Collateral The Grantors and the Administrative Agent recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that the Administrative Agent may at any time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Administrative Agent in its sole discretion shall determine or abandon any Receivable, and any such action by the Administrative Agent shall be commercially reasonable so long as the Administrative Agent acts in good faith based on information known to it at the time it takes any such action.

  • Transfer Upon Realization of Pledged, Mortgaged or Charged Escrow Securities (1) You may transfer within escrow to a financial institution the escrow securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan.

  • Transfer of Collateral In connection with the transfer or assignment of the Note (whether by negotiation, discount or otherwise), the Company may transfer all or any part of the Collateral, and the transferee shall thereupon succeed to all the rights, powers and remedies granted the Company hereunder with respect to the Collateral so transferred. Upon such transfer, the Company shall be fully discharged from all liability and responsibility for the transferred Collateral.

  • Enforceability of Collateral To the extent the Collateral consists of accounts, chattel paper, or general intangibles, the Collateral is enforceable in accordance with its terms, is genuine, and complies with applicable laws concerning form, content and manner of preparation and execution, and all persons appearing to be obligated on the Collateral have authority and capacity to contract and are in fact obligated as they appear to be on the Collateral. At the time any account becomes subject to a security interest in favor of Lender, the account shall be a good and valid account representing an undisputed, bona fide indebtedness incurred by the account debtor, for merchandise held subject to delivery instructions or theretofore shipped or delivered pursuant to a contract of sale, or for services theretofore performed by Grantor with or for the account debtor; there shall be no setoffs or counterclaims against any such account; and no agreement under which any deductions or discounts may be claimed shall have been made with the account debtor except those disclosed to Lender in writing.

  • Transfer of the Mortgage Loans (a) Possession of Mortgage Files. The Seller does hereby sell, transfer, assign, set over and convey to the Purchaser, without recourse but subject to the terms of this Agreement, all of its right, title and interest in, to and under the Mortgage Loans. The contents of each Mortgage File not delivered to the Purchaser or to any assignee, transferee or designee of the Purchaser on or prior to the Closing Date are and shall be held in trust by the Seller for the benefit of the Purchaser or any assignee, transferee or designee of the Purchaser. Upon the sale of the Mortgage Loans, the ownership of each Mortgage Note, the related Mortgage and the other contents of the related Mortgage File is vested in the Purchaser and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or that come into the possession of the Seller on or after the Closing Date shall immediately vest in the Purchaser and shall be delivered immediately to the Purchaser or as otherwise directed by the Purchaser.

  • Additional Collateral Each of CSSW Parent and the Borrower shall, and shall cause each of its Subsidiaries to, (a) promptly (i) execute and deliver to the Administrative Agent and the Collateral Agent such amendments to the Guarantee and Collateral Agreement as the Administrative Agent or the Collateral Agent deems necessary or advisable to grant to the Collateral Agent, for the benefit of the Lenders, a perfected first priority security interest in the Equity Interests of the Steel Winds Companies and the Stetson Intermediate Holding Company, (ii) if certificated, deliver to the Collateral Agent the certificates representing such Equity Interests, together with undated stock powers, in blank, executed and delivered by a duly Authorized Officer of the Borrower and the Steel Winds Holding Company (iii) cause the Steel Winds Companies (A) to become a party to the Guarantee and Security Agreement, (B) to take such actions necessary or advisable to grant to the Collateral Agent for the benefit of the Lenders a perfected first priority security interest in the Collateral described in the Guarantee and Security Agreement with respect to the Steel Winds Companies, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be required by the Guarantee and Security Agreement or by law or as may be requested by the Collateral Agent and (C) to deliver to the Collateral Agent a certificate of an Authorized Officer of each Steel Winds Company, substantially in the form of the certificate provided pursuant to Section 3.2(a)(iii), with appropriate insertions and attachments, (iv) if requested by the Administrative Agent, deliver to the Administrative Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Administrative Agent and (v) deliver to the Collateral Agent each deposit account control agreement required to be delivered pursuant to the Guarantee and Collateral Agreement, in form and substance reasonably acceptable to the Collateral Agent; provided that the parties hereto acknowledge and agree that if any LC Indebtedness or LC Conversion Indebtedness of the Steel Winds Project Company with respect to the Steel Winds Project is in existence as of the Subsequent Closing Date, then the Steel Winds Companies shall be required to become a party to the Guarantee and Security Agreement and satisfy the other requirements of this Section 9.22, upon the termination, expiration and discharge of such LC Indebtedness or LC Conversion Indebtedness, as the case may be.

  • Application of Proceeds of Collateral Notwithstanding anything to the contrary in this Agreement, in the case of any Event of Default under Section 9.1(i), immediately following the occurrence thereof, and in the case of any other Event of Default, upon the termination of the Revolving Credit Aggregate Commitment, the acceleration of any Indebtedness arising under this Agreement and/or the exercise of any other remedy in each case by the requisite Lenders under Section 9.2 hereof, the Agent shall apply the proceeds of any Collateral, together with any offsets, voluntary payments by any Credit Party or others and any other sums received or collected in respect of the Indebtedness first, to pay all incurred and unpaid fees and expenses of the Agent under the Loan Documents and any protective advances made by Agent with respect to the Collateral under or pursuant to the terms of any Loan Document, next, to pay any fees and expenses owed to the Issuing Lender hereunder, next, to the Indebtedness under the Revolving Credit (including the Swing Line and any Reimbursement Obligations), any obligations owing by any Credit party under any Hedging Agreements or in connection with any Lender Products on a pro rata basis, next, to any other Indebtedness on a pro rata basis, and then, if there is any excess, to the Credit Parties or as otherwise required under applicable law, as the case may be.

  • Impairment of Collateral Not use any material portion of the Collateral, or permit the same to be used, for any unlawful purpose, in any manner that is reasonably likely to materially adversely impair the value or usefulness of the Collateral, or in any manner inconsistent with the provisions or requirements of any policy of insurance thereon nor affix or install any accessories, equipment, or device on the Collateral or on any component thereof if such addition will materially impair the original intended function or use of the Collateral or such component.

  • Purchase of Collateral Credit bid and purchase all or any portion of the Collateral at any public sale. Any deficiency that exists after disposition of the Collateral as provided above will be paid immediately by Borrower.

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