Collateral Threshold definition

Collateral Threshold means, with respect to Seller or Seller’s Guarantor, if applicable, the amount determined in accordance with Table A below. The amount of such Seller’s Performance Assurance shall be equal to the positive difference, if any, between: (a) the Collateral Requirement; and (b) the Collateral Threshold, rounded up to the nearest $10,000, as estimated by Buyer (“Performance Assurance Amount”). In the event that Seller fails to provide such Seller’s Performance Assurance within five (5) Business Days of notice from Buyer, then an Event of Default shall be deemed to have occurred and Buyer shall be entitled to the remedies set forth under Article 5, as the Non-Defaulting Party. After the first ten (10) Delivery Years during the Delivery Term, if the Performance Assurance Amount is equal to or less than $50,000, then the Performance Assurance Amount shall be deemed to be zero; provided, that if Buyer’s calculation indicates that the Performance Assurance Amount exceeds $50,000, then the Performance Assurance Amount shall be such full calculated amount. If Seller is relying on its own creditworthiness and Seller is a party to one or more additional REC purchase agreements with Buyer pursuant to the conduct of the initial forward procurements pursuant to the Section 1-75(c)(1)(G) of the IPA Act, then Seller will be granted a single Collateral Threshold to be applied to all such REC purchase agreements. If Seller is relying on a Guarantor and Seller’s Guarantor has provided a Guaranty, the Collateral Threshold shall be the lesser of the Collateral Threshold as determined by (i) the table below or (ii) the amount of such Guaranty; provided, that Seller’s Guarantor will be granted a single Collateral Threshold to be applied to all REC purchase agreements entered into with Buyer pursuant to the conduct of the initial forward procurements pursuant to the Section 1-75(c)(1)(G) of the IPA Act for which it guarantees payment obligations on behalf of one or more parties to such REC purchase agreements. TABLE A Credit Rating Collateral S&P Xxxxx'x Fitch Threshold BBB- or above Baa3 or above BBB- or above $2,500,000 Below BBB- Below Baa3 Below BBB- $0 ”

Collateral Threshold is defined in Section 7.1.

Collateral Threshold shall have the meaning specified in Paragraph 3(c)(i).

Examples of Collateral Threshold in a sentence

• Credit and Collateral Requirements (a) Financial Information: [x] Option A [] Option B Specify: [] Option C Specify: (b) Credit Assurances: [x] Not Applicable [] Applicable (c) Collateral Threshold: [x] Not Applicable [] Applicable If applicable, complete the following: Party B Collateral Threshold: $ N/A; provided, however, that Party B’s Collateral Threshold shall be zero if an Event of Default or Potential Event of Default with respect to Party B has occurred and is continuing.

• If Seller is relying on a Guarantor for purposes of its Collateral Threshold in accordance with Section 7.1, then Seller will provide, concurrently with the execution and delivery of the Agreement, a Guaranty.

• The Seller will be granted a single Collateral Threshold Amount to be applied across this Confirmation Agreement and all other Fixed Price Customer Supply Contracts as provided below.

• With respect to the Collateral Threshold, Independent Amount, Minimum Transfer Amount and Rounding Amount, if no selection is made in this Cover Sheet with respect to a Party, then the applicable amount in each case for such Party shall be zero (0).

• Party A Collateral Threshold: $ provided, however, that Party A’s Collateral Threshold is zero if an Event of Default or Potential Event of Default with respect to Party A has occurred and is continuing.

More Definitions of Collateral Threshold

Collateral Threshold means, with respect to a Party, the collateral threshold, if any, set forth in Part I of the Cover Sheet Elections for that Party, or if no amount is set for such Party, such amount shall be zero (0).

Collateral Threshold means the dollar amount or amounts specified in section 4.3 of this Article to reflect the amount of credit that will be extended to Company without Performance Assurance being provided by Company.

Collateral Threshold means, with respect to a party, the collateral threshold amount, if any, set forth for such party in this Credit Support Addendum; provided, however, that the Collateral Threshold for a party shall be zero upon the occurrence and during the continuance of an Event of Default with respect to the Defaulting Party.

Collateral Threshold are defined in the Margining Agreement.

Collateral Threshold means, with respect to each Party, the applicable collateral threshold, if any, set forth for such Party in Schedule 2 to this Confirmation:

Collateral Threshold means the dollar amount(s) specified in section 6.3 below to reflect the amount of credit that will be extended to Company without Performance Assurance being provided by Company.

Collateral Threshold means Unsecured Credit extended to a counterparty per a master enabling agreement.