Eligible Guaranty definition

Eligible Guaranty means an unconditional and irrevocable guaranty of all present and future payment obligations and obligations to post collateral of Bear Stearns or an Eligible Replacement to Counterparty under this Agreement that is provided by an Eligible Guarantor as principal debtor rather than surety and that is directly enforceable by Counterparty, the form and substance of which guaranty are subject to the Rating Agency Condition with respect to S&P.

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Eligible Guaranty means an unconditional and irrevocable guaranty of all present and future payment obligations and obligations to post collateral of Bear ▇▇▇▇▇▇▇ or an Eligible Replacement to Counterparty under this Agreement that is provided by an Eligible Guarantor as principal debtor rather than surety and that is directly enforceable by Counterparty, the form and substance of which guaranty are subject to the Rating Agency Condition with respect to S&P.

Eligible Guaranty means an unconditional and irrevocable guaranty of all present and future payment obligations and obligations to post collateral of Bear Stearns or an Eligible Replacement to Counterparty under th▇▇ ▇▇▇▇ement that is provided by an Eligible Guarantor as principal debtor rather than surety and that is directly enforceable by Counterparty, the form and substance of which guaranty are subject to the Rating Agency Condition with respect to S&P.

Examples of Eligible Guaranty in a sentence

Eligible Guaranty" means an unconditional and irrevocable guaranty of all present and future payment obligations and obligations to post collateral of Bear ▇▇▇▇▇▇▇ or an Eligible Replacement to Counterparty under this Agreement that is provided by an Eligible Guarantor as principal debtor rather than surety and that is directly enforceable by Counterparty, the form and substance of which guaranty are subject to the Rating Agency Condition with respect to S&P.
In the event that a Moody’s Second Trigger Ratings Event occurs and is continuing, Party A shall, as soon as reasonably practicable thereafter, at its own expense and using commercially reasonable efforts, either (i) procure a Permitted Transfer or (ii) obtain an Eligible Guaranty.
In the event that a Moody's Second Level Downgrade occurs and is continuing, Bear ▇▇▇▇▇▇▇ shall as soon as reasonably practicable thereafter, at its own expense and using M-83 commercially reasonable efforts, either (i) procure a Permitted Transfer or (ii) obtain an Eligible Guaranty.
DYPM shall provide such Eligible Guaranty within ten (10) Days of receipt of notice from Southern that DYPM is required to provide an Eligible Guaranty due to the downgrade to a rating below either (i) Baa3 by Moody's (or future equivalent) or (ii) BBB- by S&P (or future equivalent).
If at any time a guaranty provided by Buyer as an Eligible Guaranty no longer satisfies the definition of Eligible Guaranty under this Agreement (including due to the existence of a Material Adverse Financial Condition with respect to the applicable Guarantor), Buyer shall provide Seller with other Performance Security that satisfies the requirements of this Agreement within Business Days of such occurrence and thereafter maintain such Performance Security pursuant to this Agreement.
In the event that a Moody's Second Level Downgrade occurs and is continuing, Bear St▇▇▇▇▇ ▇hall as soon as reasonably practicable thereafter, at its own expense and using commercially reasonable efforts, either (i) procure a Permitted Transfer or (ii) obtain an Eligible Guaranty.
In the event that a Moody's Second Level Downgrade occurs and is continuing, Bear ▇▇▇▇▇▇▇ shall as soon as reasonably practicable thereafter, at its own expense and using M-50 commercially reasonable efforts, either (i) procure a Permitted Transfer or (ii) obtain an Eligible Guaranty.
If at any time during the Term, the long term senior unsecured indebtedness of the provider of the Southern Guaranty has or drops to a rating below either (i) Baa3 by Moody's (or future equivalent) or (ii) BBB- by S&P (or future equivalent), then Southern shall provide a Southern Guaranty issued by an entity with a long term senior unsecured indebtedness rating at or above the Eligible Guaranty Threshold.
If DYPM and DMT are unable to provide an Eligible Guaranty to Southern during such ten (10) Day period, then DYPM, DMT and Dynegy Holdings Inc.
In the event that a ▇▇▇▇▇'▇ Second Level Downgrade occurs and is continuing, Bear ▇▇▇▇▇▇▇ shall as soon as reasonably practicable thereafter, at its own expense and using commercially reasonable efforts, either (i) procure a Permitted Transfer or (ii) obtain an Eligible Guaranty.

More Definitions of Eligible Guaranty

Eligible Guaranty has the meaning set forth in Section 15.1.

Eligible Guaranty means a continuing guaranty in substantially the form of ▇▇▇▇▇▇▇▇ the case of a guaranty provided as Performance Security by Seller), or otherwise acceptable to the Party to whom such guaranty is provided as Performance Security under this Agreement, which is properly completed and executed and in full force and effect and with respect to which the Guarantor has not given any notice of termination, cancellation or revocation, issued by a Person: (i) who is a direct or indirect parent of the Party providing such guaranty as Performance Security under this Agreement, unless otherwise agreed by the other Party in its sole discretion;

Eligible Guaranty means a continuing unlimited guaranty in substantially the form of Appendix D hereto, which is properly completed and executed and in full force and effect and with respect to which the Guarantor has not given any notice of termination, cancellation or revocation, issued by a Person: (i) who is a direct or indirect parent of Seller; (ii) with respect to whom there does not exist a Material Adverse Financial Condition at any time such guaranty is intended to constitute Performance Security; and (iii) who has a Net Worth of at least five hundred million dollars ($500,000,000) for the entire period during which such guaranty is intended to constitute Performance Security.

Eligible Guaranty means a continuing unlimited guaranty in substantially the form of Appendix D hereto, which is properly completed and executed and in full force and effect and with respect to which the Guarantor has not given any notice of termination, cancellation or revocation, issued by a Person: (i) who is a direct or indirect parent of Seller; (ii) with respect to whom there does not exist a Material Adverse Financial Condition at any time such guaranty is intended to constitute Performance Security; and (iii) has a Net Worth of at least ten billion dollars ($10,000,000,000) for the entire period during which such guaranty is intended to constitute Performance Security.

Eligible Guaranty means a continuing parent guaranty in form and substance reasonably acceptable to the receiving Party issued by an entity who has and maintains an Acceptable Rating.