Examples of Credit Cover in a sentence

Credit Cover Percentage(s) / Credit Cover Limit(s) / Credit Protection Events: As specified in a Customer Limit Advice issued in respect of the relevant Customer.
In the event the Sellers draw down any amount under the Buyer’s Credit Cover, Buyer will within seven (7) Business Days thereafter provide the Sellers with additional Credit Cover in an amount equal to the amount that was so drawn by the Sellers.
The Factoring Agent will hold on trust for the Tranche C Lenders any proceeds received by it from a provider of Credit Cover in respect of an Eligible Receivable (the Credit Cover Proceeds).
In considering the establishment of a Credit Cover Limit and/or a Funding Limit, the Bank (or the Assignee) may investigate the financial status of the Customers and the Client must provide the Bank with the information that the Bank requires.
With respect to any Debt in respect of which the Credit Cover Percentage is not zero, the Bank may in its absolute discretion take out and maintain, or require the Seller at its own expense to take out and maintain, Insurances against Default and/or Insolvency of the relevant Customer, on such terms and in such amounts and with such insurance companies or offices and through such insurance brokers as the Bank may in its absolute discretion designate, in each case with the Bank named as the loss payee.

More Definitions of Credit Cover

Credit Cover means any of the following forms of guarantee: (i) a corporate guarantee substantially in the form set out in Schedule 6 (“Corporate Guarantee”), provided by Alon Natural Gas Exploration Ltd. for Dor Gas Exploration Limited Partnership; or (ii) a bank guarantee substantially in the form set out in Schedule 7 (“Bank Guarantee”); or (iii) a Letter of Credit substantially in the form set out in Schedule 8 (“Letter of Credit”), issued by one of the top three (3) Israeli Banks or issued by a non Israeli Bank whose Credit Rating is at least S&P’s rating group “A” or Xxxxx’x rating “A2”.

Credit Cover means any of the following forms of guarantee: (i) a bank guarantee (substantially in the form set out in Schedule 5); or (ii) [***]; or (iii) a Letter of Credit (substantially in the form set out in Schedule 7) issued by a non-Israeli Bank whose international Credit Rating is not less than S&P’s rating group “A+” and Xxxxx’x rating “A1”.

Credit Cover means any insurance or similar arrangement in respect of credit risk of any Receivable satisfactory to the Factoring Agent.

Credit Cover means an escrow account or a letter of credit; “credit default register” has the meaning given by regulation [51]; “credit period” has the meaning given by regulation [46(1)(b)]; “default amounts” has the meaning given by regulation [47(3)(b)];

Credit Cover has the meaning defined in the CM Payment Regulations;

Credit Cover means the amount payable by the Bank to the Seller with respect to Approved Debts on the Insolvency or Default of a Customer, calculated by applying the Credit Cover Percentage, in the case of Insolvency, to the amount of any unpaid Approved Debts due from the Customer, or in the case of a Default, to the amount of each Approved Debt in respect of which a Default occurred, but in each case after deducting from such Debts any tax payable by the Customer, and subject to any applicable Minimum Cover;

Credit Cover means the amount which shall be due to the Client from the Bank on the Insolvency of the Customer by applying the Credit Cover Percentage to the amount of any unpaid Debt but after deducting from such Debt any tax payable by the Customer;