Common use of Posting Margin and Return of Surplus Margin Clause in Contracts

Posting Margin and Return of Surplus Margin. (a) If at any time and from time to time during the term of this Agreement, the Total Exposure Amount exceeds the BGS-RSCP Supplier’s or the Guarantor’s credit limit, then the Company on any Business Day, may request that the BGS-RSCP Supplier provide cash or a letter of credit in an acceptable form as defined in Section 6.9(b) of this Agreement (see standard format in Appendix C), in an amount equal to the Margin (less any Margin posted by the BGS-RSCP Supplier and held by the Company pursuant to this Agreement or any other agreement(s) between the Company and the BGS-RSCP Supplier for the provision of BGS Supply). If the BGS-RSCP Supplier receives written notice for Margin from the Company by 1:00 p.m. New York time on a Business Day, then the BGS-RSCP Supplier shall post Margin the next following Business Day, if posting cash, and by the second Business Day following the date of notice, if posting a letter of credit, unless the Company agrees in writing to extend the period to provide Margin. If the BGS-RSCP Supplier receives notice for Margin from the Company after 1:00 p.m. New York time on a Business Day, whether posting cash or a letter of credit, then the BGS-RSCP Supplier must post Margin the second Business Day following the date of notice unless the Company agrees in writing to extend the period to provide Margin. The Company will not unreasonably deny a request for a one-day extension of such period. In the event that the BGS-RSCP Supplier fails to post Margin when due in accordance with this Section 6.7, then an Event of Default under Article 5 of this Agreement will be deemed to have occurred and the Company will be entitled to the remedies set forth in Article 5 of this Agreement.

Posting Margin and Return of Surplus Margin. (a) If at any time and from time to time during the term of this Agreement, the Total Exposure Amount exceeds the BGS-RSCP Supplier’s or the Guarantor’s credit limit, then the Company on any Business Day, may request that the BGS-RSCP Supplier provide cash or a letter of credit in an acceptable form as defined in Section 6.9(b) of this Agreement (see standard format in Appendix C), in an amount equal to the Margin (less any Margin posted by the BGS-RSCP Supplier and held by the Company pursuant to this Agreement or any other agreement(s) between the Company and the BGS-RSCP Supplier for the provision of BGS Supply). If the BGS-RSCP Supplier receives written notice for Margin Xxxxxx from the Company by 1:00 p.m. New York time on a Business Day, then the BGS-RSCP Supplier shall post Margin the next following Business Day, if posting cash, and by the second Business Day following the date of notice, if posting a letter of credit, unless the Company agrees in writing to extend the period to provide Margin. If the BGS-RSCP Supplier receives notice for Margin Xxxxxx from the Company after 1:00 p.m. New York time on a Business Day, whether posting cash or a letter of credit, then the BGS-RSCP Supplier must post Margin the second Business Day following the date of notice unless the Company agrees in writing to extend the period to provide Margin. The Company will not unreasonably deny a request for a one-day extension of such period. In the event that the BGS-RSCP Supplier fails to post Margin when due in accordance with this Section 6.7, then an Event of Default under Article 5 of this Agreement will be deemed to have occurred and the Company will be entitled to the remedies set forth in Article 5 of this Agreement.

Posting Margin and Return of Surplus Margin. (a) If at any time and from time to time during the term of this Agreement, the Total Exposure Amount exceeds the BGS-RSCP SSO Supplier’s or the Guarantor’s credit limit, then the Company Companies on any Business Day, may request that the BGS-RSCP SSO Supplier provide cash or a cash, letter of credit in an acceptable form as defined in Section 6.9(b6.9 (b) of this Agreement below (see standard format in Appendix CD), or First Mortgage Bonds delivered or pledged as provided for in Section 6.9(c) below, in an amount equal to the Margin (less any Margin posted by the BGS-RSCP SSO Supplier and held by the Company Companies pursuant to this Agreement or any other agreement(s) between the Company Companies and the BGS-RSCP SSO Supplier for the provision of BGS SSO Supply). If the BGS-RSCP SSO Supplier receives written notice for Margin from the Company Companies by 1:00 p.m. New York time prevailing Eastern Time on a Business Day, then the BGS-RSCP SSO Supplier shall post Margin the next following Business Day, Day if posting cash, cash and by the second Business Day following the date of notice, if posting a letter of creditcredit or, with respect to Surplus Margin only, delivering or pledging First Mortgage Bonds (as defined in Section 6.9(c) below), unless in each case the Company agrees Companies agree in writing to extend the period to provide Margin. If the BGS-RSCP SSO Supplier receives notice for Margin from the Company Companies after 1:00 p.m. New York time prevailing Eastern Time on a Business Day, whether posting cash or a cash, letter of credit, or First Mortgage Bond delivered or pledged as provided for in Section 6.9(c) below then the BGS-RSCP SSO Supplier must post Margin the second Business Day following the date of notice unless the Company agrees Companies agree in writing to extend the period to provide Margin. The Company Companies will not unreasonably deny a request for a one-day extension of such period. In the event that the BGS-RSCP SSO Supplier fails to post provide Margin when due in accordance with this Section 6.7due, then an Event of Default under Article 5 of this Agreement will be deemed to have occurred and the Company Companies will be entitled to the remedies set forth in Article 5 of this Agreement. If the SSO Supplier is otherwise entitled to deliver or pledge its or its Guarantor’s First Mortgage Bonds to cover Surplus Margin, but cannot do so within the second Business Day time period or any extension thereof, the SSO Supplier may initially post cash or a letter of credit to satisfy such obligation, which cash or letter of credit shall be returned by the Companies upon the subsequent delivery or pledge of its or its Guarantor’s First Mortgage Bonds in accordance with the provisions of Section 6.9(c) hereof.

Posting Margin and Return of Surplus Margin. (a) If at any time and from time to time during the term of this Agreement, the Total Exposure Amount Amount, rounded by the Rounding amount, exceeds the BGS-RSCP DS Supplier’s or the Guarantor’s credit limitlimit by the Minimum Transfer Amount (MTA), then the Company on any Business Day, may request that the BGS-RSCP DS Supplier provide cash or a letter of credit in an acceptable form as defined in Section 6.9(bArticle 6.7(b) of this Agreement (see standard format in Appendix CF), in an amount equal to the Margin (less any Margin posted by the BGS-RSCP DS Supplier and held by the Company pursuant to this Agreement or any other agreement(s) between the Company and the BGS-RSCP DS Supplier for the provision of BGS DS Supply). If the BGS-RSCP DS Supplier receives written notice for Margin from the Company by 1:00 p.m. New York time on a Business Day, then the BGS-RSCP DS Supplier shall post Margin the next following Business Day, if posting cash, and by the second Business Day following the date of notice, if posting a letter of credit, unless the Company agrees in writing to extend the period to provide Margin. If the BGS-RSCP DS Supplier receives notice for Margin from the Company after 1:00 p.m. New York time on a Business Day, whether posting cash or a letter of credit, then the BGS-RSCP DS Supplier must post Margin the second Business Day following the date of notice unless the Company agrees in writing to extend the period to provide Margin. The Company will not unreasonably deny a request for a one-day extension of such period. In the event that the BGS-RSCP DS Supplier fails to post Margin when due in accordance with this Section 6.7Article 6.5, then an Event of Default under Article 5 of this Agreement will be deemed to have occurred and the Company will be entitled to the remedies set forth in Article 5 of this Agreement.

Posting Margin and Return of Surplus Margin. (a) If at any time and from time to time during the term of this Agreement, the Total Exposure Amount exceeds the BGS-RSCP Supplier’s or the Guarantor’s credit limit, then the Company on any Business Day, may request that the BGS-RSCP Supplier provide cash or a letter of credit in an acceptable form as defined in Section 6.9(b) of this Agreement (see standard format in Appendix C), in an amount equal to the Margin (less any Margin posted by the BGS-RSCP Supplier and held by the Company pursuant to this Agreement or any other agreement(s) between the Company and the BGS-RSCP Supplier for the provision of BGS Supply). If the BGS-RSCP Supplier receives written notice for Margin Xxxxxx from the Company by 1:00 p.m. New York time on a Business Day, then the BGS-RSCP Supplier shall post Margin the next following Business Day, if posting cash, and by the second Business Day following the date of notice, if posting a letter of credit, unless the Company agrees in writing to extend the period to provide Margin. If the BGS-RSCP Supplier receives notice for Margin Xxxxxx from the Company after 1:00 p.m. New York time on a Business Day, whether posting cash or a letter of credit, then the BGS-RSCP Supplier must post Margin the second Business Day following the date of notice unless the Company agrees in writing to extend the period to provide MarginXxxxxx. The Company will not unreasonably deny a request for a one-day extension of such period. In the event that the BGS-RSCP Supplier fails to post Margin when due in accordance with this Section 6.7, then an Event of Default under Article 5 of this Agreement will be deemed to have occurred and the Company will be entitled to the remedies set forth in Article 5 of this Agreement.

Posting Margin and Return of Surplus Margin. (a) If at any time and from time to time during the term of this Agreement, the Total Exposure Amount exceeds the BGS-RSCP Supplier’s or the Guarantor’s credit limit, then the Company on any Business Day, may request that the BGS-RSCP Supplier provide cash or a letter of credit in an acceptable form as defined in Section 6.9(b) of this Agreement (see standard format in Appendix C), in an amount equal to the Margin (less any Margin posted by the BGS-RSCP Supplier and held by the Company pursuant to this Agreement or any other agreement(s) between the Company and the BGS-RSCP Supplier for the provision of BGS Supply). If the BGS-RSCP Supplier receives written notice for Margin Xxxxxx from the Company by 1:00 p.m. New York time on a Business Day, then the BGS-RSCP Supplier shall post Margin Xxxxxx the next following Business Day, if posting cash, and by the second Business Day following the date of notice, if posting a letter of credit, unless the Company agrees in writing to extend the period to provide Margin. If the BGS-RSCP Supplier receives notice for Margin Xxxxxx from the Company after 1:00 p.m. New York time on a Business Day, whether posting cash or a letter of credit, then the BGS-RSCP Supplier must post Margin the second Business Day following the date of notice unless the Company agrees in writing to extend the period to provide Margin. The Company will not unreasonably deny a request for a one-day extension of such period. In the event that the BGS-RSCP Supplier fails to post Margin when due in accordance with this Section 6.7, then an Event of Default under Article 5 of this Agreement will be deemed to have occurred and the Company will be entitled to the remedies set forth in Article 5 of this Agreement.

Posting Margin and Return of Surplus Margin. (a) If at any time and from time to time during the term of this Agreement, the Total Exposure Amount exceeds the BGS-RSCP FP Supplier’s or the Guarantor’s credit limit, then the Company on any Business Day, may request that the BGS-RSCP FP Supplier provide cash or a letter of credit in an acceptable form as defined in Section 6.9(b) of this Agreement (see standard format in Appendix C), in an amount equal to the Margin (less any Margin posted by the BGS-RSCP FP Supplier and held by the Company pursuant to this Agreement or any other agreement(s) between the Company and the BGS-RSCP FP Supplier for the provision of BGS Supply). If the BGS-RSCP FP Supplier receives written notice for Margin from the Company by 1:00 p.m. New York time on a Business Day, then the BGS-RSCP FP Supplier shall post Margin the next following Business Day, if posting cash, and by the second Business Day following the date of notice, if posting a letter of credit, unless the Company agrees in writing to extend the period to provide Margin. If the BGS-RSCP FP Supplier receives notice for Margin from the Company after 1:00 p.m. New York time on a Business Day, whether posting cash or a letter of credit, then the BGS-RSCP FP Supplier must post Margin the second Business Day following the date of notice unless the Company agrees in writing to extend the period to provide Margin. The Company will not unreasonably deny a request for a one-day extension of such period. In the event that the BGS-RSCP FP Supplier fails to post Margin when due in accordance with this Section 6.7, then an Event of Default under Article 5 of this Agreement will be deemed to have occurred and the Company will be entitled to the remedies set forth in Article 5 of this Agreement.

Posting Margin and Return of Surplus Margin. (a) If at any time and from time to time during the term of this Agreement, the Total Exposure Amount exceeds the BGS-RSCP FP Supplier’s or the Guarantor’s credit limit, then the Company on any Business Day, may request that the BGS-RSCP FP Supplier provide cash or a letter of credit in an acceptable form as defined in Section 6.9(b) of this Agreement (see standard format in Appendix C), in an amount equal to the Margin (less any Margin posted by the BGS-RSCP FP Supplier and held by the Company pursuant to this Agreement or any other agreement(s) between the Company and the BGS-RSCP FP Supplier for the provision of BGS Supply). If the BGS-RSCP FP Supplier receives written notice for Margin Xxxxxx from the Company by 1:00 p.m. New York time on a Business Day, then the BGS-RSCP FP Supplier shall post Margin the next following Business Day, if posting cash, and by the second Business Day following the date of notice, if posting a letter of credit, unless the Company agrees in writing to extend the period to provide Margin. If the BGS-RSCP FP Supplier receives notice for Margin from the Company after 1:00 p.m. New York time on a Business Day, whether posting cash or a letter of credit, then the BGS-RSCP FP Supplier must post Margin the second Business Day following the date of notice unless the Company agrees in writing to extend the period to provide MarginXxxxxx. The Company will not unreasonably deny a request for a one-day extension of such period. In the event that the BGS-RSCP FP Supplier fails to post Margin when due in accordance with this Section 6.7, then an Event of Default under Article 5 of this Agreement will be deemed to have occurred and the Company will be entitled to the remedies set forth in Article 5 of this Agreement.