Credit Matrix definition
Examples of Credit Matrix in a sentence
If Seller has a published Credit Rating from each of S&P and ▇▇▇▇▇’▇, the lower rating will be used to determine the level of Credit Support in the Credit Matrix.
If Seller does not meet the Credit Rating requirements of (1) and (2) in the preceding sentence, it may have to post Credit Support Security in the amounts outlined on the Credit Matrix based upon its’ Credit Rating or that of the entity providing a guaranty as Credit Support Security on behalf of the Seller, and the size of the project.
If Seller, or the entity providing a guaranty as Credit Support Security on behalf of the Seller, has no published Credit Rating, an equivalent Credit Rating will be determined by Buyer through the application of Buyer’s proprietary credit scoring model developed in conjunction with S&P, and the amount of Credit Support for Seller (as shown on the Credit Matrix) will be based upon this equivalent Credit Rating.
Private placements shall be valued in a manner consistent with Voya Investment Management’s Private Credit Matrix Valuation methodology, which shall be provided to the Reinsurer for reference.
Please note that should a Bidder be an existing counterparty with PacifiCorp, PacifiCorp reserves the right to protect itself from counterparty credit concentration risk and require credit assurance in addition to those outlined in the Credit Matrix.
The Bidder should utilize the Credit Matrix to determine the maximum credit assurance requirements based on its credit rating and the size and type of Eligible Resource bid.
If Seller, or the entity providing credit assurances as Credit Support Security on behalf of the Seller, has no published Credit Rating, an equivalent Credit Rating will be determined by Buyer through the application of Buyer’s proprietary credit scoring model developed in conjunction with a third party, and the amount of Credit Support for Seller (as shown on the Credit Matrix) will be based upon this equivalent Credit Rating.
The amount of any credit assurances to be provided will be determined based upon the a) the Credit Rating in the Credit Matrix of either the Bidder or the entity providing credit assurances on behalf of the Bidder, b) the size of the project, and c) the type of Eligible Resource.
If required by Buyer, Seller shall, within five (5) Business Days after the Effective Date, submit to Buyer a Letter of Credit in the amount set forth in the Credit Matrix.
At any time during the Term, Seller may have to post Credit Support Security in the amounts outlined on the Credit Matrix based upon its’ Credit Rating or that of the entity providing credit assurances as Credit Support Security on behalf of the Seller, and the size of the project.