Assurance Obligations definition
Examples of Assurance Obligations in a sentence
If Seller does not comply with Seller’s Reasonable Assurance Obligations then, subject to Section 6.5, it shall exercise commercially reasonable efforts to obtain Third Party Supplied Coke in respect of such Coke Production Shortfall.
If Company has reasonable grounds for insecurity regarding the performance of any obligation under this Agreement (whether or not then due) by School/Government Supplier (including, without limitation, the occurrence of a material change in the creditworthiness of School/Government Supplier), Company may demand adequate assurance of performance in the form of Financial Assurance Obligations.
School/Government Supplier agrees that, in the event of Default as that term is defined in Article 6 of this Agreement, Company shall have the right to use the proceeds from School/Government Supplier's Financial Assurance Obligations to satisfy School/Government Supplier's obligations under this Agreement.
The Financial Assurance Obligations may also be adjusted at the sole discretion of Company based upon School/Government Supplier's demonstrated ability or inability to pay promptly.
SCO Supplier agrees that, in the Event of Default as defined in this Agreement, and in addition to any other rights and remedies CenterPoint may enjoy, CenterPoint shall have the right to liquidate and use the proceeds from any and all of SCO Supplier's Financial Assurance Obligations and Purchase of Receivables to satisfy SCO Supplier's obligations under the Agreement.
In the event School/Government Supplier elects, or is forced, to terminate its participation in School/ Government Pooling Service in accordance with the provisions of this Agreement, or in the event of a Default resulting in termination of this Agreement, School/Government Supplier shall continue to maintain the Financial Assurance Obligations until Company confirms that School/Government Supplier has satisfied all of Company's outstanding claims.
The proceeds from such Financial Assurance Obligations shall be used to satisfy any outstanding claims that Company may have against School/ Government Supplier, including but not limited to, interstate pipeline capacity charges, imbalance charges, cash-out charges, pipeline penalty charges, reservation charges, and any other amounts owed to Company, for which Company is or will be responsible, related to School/Government Supplier's participation in School/Government Pooling Service.
Market Credit Limit is a credit limit for a Market Participant’s Financial Assurance Obligations (except FTR Financial Assurance Requirements) established for each Market Participant in accordance with Section II.C of the ISO New England Financial Assurance Policy.
Failure of School/ Government Supplier to adjust the dollar amount of the Financial Assurance Obligations as directed by the Company may result in the Company limiting the enrollment of additional School/Government Pool Customers in School/ Government Supplier's Pool(s) and/or the Company's termination of service hereunder for violation of School/ Government Supplier's Code of Conduct.
The Purchaser shall arrange for and maintain the Purchaser’s Financial Assurance Obligations.