Eligible Commodities definition
Eligible Commodities collectively, Coal Products, Natural Gas Products, Petroleum Products and asphalt.
Eligible Commodities means any Qualified Commodity which:
Eligible Commodities collectively, crude oil, natural gas liquids, transportation fuels, natural gas, condensate, intermediaries, distillates, liquefied petroleum gases, refined petroleum products or any blend thereof.
Examples of Eligible Commodities in a sentence
As of the Restatement Effective Date, the only contracts comprising FERC Contract Collateral of the Loan Parties and their respective Subsidiaries as to which further consent of the FERC may be required in connection with the exercise of remedies by the Administrative Agent under the Loan Documents are contracts for the transportation and storage of certain Eligible Commodities.
The Borrower shall use the proceeds of the Loans to finance traditional commodity financing arrangements or the Borrower's purchase of Eligible Commodities from the Sellers who have agreed to sell Eligible Commodities to (and to later repurchase such Eligible Commodities from) the Borrower.
Except as provided in the last sentence of this Section 5.26, all payments in respect of sales by the Borrower of Eligible Commodities are remitted directly to a Controlled Account.
As of the Closing Date, there are no contracts as to which further consent of the FERC may be required in connection with the exercise of remedies by the Administrative Agent or the Collateral Agent under the Loan Documents are contracts for the transportation of certain Eligible Commodities.
As of the Closing Date, the only contracts comprising FERC Contract Collateral of the Loan Parties and their respective Subsidiaries as to which further consent of the FERC may be required in connection with the exercise of remedies by the Administrative Agent under the Loan Documents are contracts for the transportation and storage of certain Eligible Commodities.
More Definitions of Eligible Commodities
Eligible Commodities or “Agricultural Products” means corn, soybeans, canola, wheat, barley, oats, mixed grains, potatoes, vegetables for processing, seed corn or any other commodity set out in OMAFRA’s Program Guidelines found on their internet site;
Eligible Commodities in this Section 1.1 shall be deemed amended to include such commodity without further action immediately upon the Required Lenders’ approval of such commodity in accordance with the procedure described in this definition.
Eligible Commodities appearing in Section 5.1 of the Credit Agreement shall be amended and restated to read in its entirety as follows:
Eligible Commodities bunker fuel, Crude Oil, fuel oil, gas oil, lubricants, and other petroleum products, and with the consent of the Required Lenders, any other energy commodities that are of the type which are purchased, sold or otherwise traded in physical, futures, forward or over the counter markets.
Eligible Commodities collectively, Natural Gas Products, Petroleum Products and asphalt. “Eligible Exchange Receivable”: an Exchange Receivable of any Loan Party that would be an Eligible Account Receivable but for the fact that the consideration to be received by such Loan Party consists in whole or in part of the delivery of Eligible Commodities; provided, however, that the value of an Eligible Exchange Receivable shall be the Value as of any date of the Eligible Commodities required to be delivered to such Loan Party. “Eligible Foreign Counterparty”: with respect to any Loan Party, an Account Debtor that is incorporated in, or primarily conducts business in, any jurisdiction outside the United States or Canada, and (A) is set forth on Schedule 1.1(C) or (B) has been approved by the Required Lenders, in their sole discretion, from time to time after the RestatementThird Amendment Effective Date in accordance with the following procedure: (x) the U.S. Borrower shall deliver a written request to the Administrative Agent for such approval by the Required Lenders of such counterparty and credit exposure, which request shall be provided by the Administrative Agent to the Lenders, including, if requested by a Lender, through posting on Intralinks or other web site in use to distribute information to the Lenders, or by other electronic mail, or other notice procedure permitted under Section 11.2; and (y) the Required Lenders shall inform the Administrative Agent of such approval in writing (by electronic communication, telecopy or facsimile) within five (5) Business Days after receipt of notice from the Administrative Agent; provided that failure of a Lender to respond to any request for approval within the time period provided for hereby shall be deemed to be an acceptance of such counterparty as an Eligible Foreign Counterparty by such Lender; provided, further, that, the Supermajority Lenders, in their sole discretion, may from time to time revoke the Eligible Foreign Counterparty status of any counterparty previously approved as an Eligible Foreign Counterparty or reduce the previously-approved credit exposure of the Loan Parties to such counterparty, which revocation or reduction shall be effective as of the date that is at least ten (10) days after the delivery of written notice of such revocation or reduction by the Administrative Agent to the U.S. Borrower. The Administrative Agent may, in its sole discretion, extend such five (5) Business Day period if the Administrative A...
Eligible Commodities or any component definition thereof that has the effect of adding commodities thereto without the written consent of the Supermajority Lenders; or (iv) consent to any changes to the Risk Management Policy which are materially adverse to the Lenders without the written consent of the Supermajority Lenders; or
Eligible Commodities natural gas, natural gas liquids, crude oil, refined petroleum products (including heating oil, diesel, gasoline, kerosene, jet fuel and propane), and any other product or by-product of any of the foregoing, rights to transmit, transport, store or process any of the foregoing, or, with the consent of the Supermajority Lenders, any other energy commodities that are of the type which are purchased, sold or otherwise traded in physical, futures, forward or over-the-counter markets; provided that, additional commodities may be included as Eligible Commodities under this Agreement from time to time after the Closing Date in accordance with the following procedure: (x) the Borrowers’ Agent shall deliver a written request to the Administrative Agent for such approval by the Supermajority Lenders of such commodity, which request shall be provided by the Administrative Agent to the Lenders in accordance with Section 11.3; and (y) the Supermajority Lenders shall inform the Administrative Agent of such approval in writing within fifteen (15) Business Days after receipt of notice from the Administrative Agent; provided further that the failure of a Lender to respond to any request for approval within the time period provided for hereby shall be deemed to be a rejection of such commodity. The Administrative Agent may, in its sole discretion, extend such fifteen (15) Business Day period if the Administrative Agent determines that any commodity requires additional review by the Lenders, but not more than once. The definition of “Eligible Commodities” in this Section 1.1 shall be deemed amended to include such commodity without further action immediately upon the Supermajority Lenders’ approval of such commodity in accordance with the procedure described in this definition.