Collateral Posting Requirements definition
Collateral Posting Requirements means any requirement for FSA Capital Management or FSA Capital Markets to post specified collateral either (i) pursuant to the terms of the relevant GIC irrespective of the rating of the financial strength of FSA or (ii) during such time as the financial strength of FSA is not rated at least the required rating specified under the relevant GIC. For the avoidance of doubt, a “requirement” to post collateral includes a provision in a GIC that upon a relevant downgrade of FSA, the GIC Issuers have the option to post collateral (or effect one or more other cures), failing which the GIC would become subject to termination (either automatically or at the election of the relevant GIC holder).
Collateral Posting Requirements has the meaning set forth in the Pledge and Intercreditor Agreement.
Collateral Posting Requirements means any requirement for either of the GIC Issuers to post specified collateral to secure a GIC. For the avoidance of doubt, a “requirement” to post collateral includes a provision in a GIC that, upon a relevant downgrade of FSA, the relevant GIC Issuer has the option to post collateral (or effect one or more other cures), failing which the GIC would become subject to termination (either automatically or at the then election of the relevant GIC holder).
Examples of Collateral Posting Requirements in a sentence
FSAH shall use the proceeds from the DHI Commitment solely to perform its obligations under the FSAM Commitment and FSAM shall use any proceeds it receives (whether directly or indirectly) from a contribution request by FSAH solely to purchase securities eligible to be posted by the GIC Issuers as collateral for purposes of meeting Collateral Posting Requirements and for any other Intended Uses.