Financial Security definition

Financial Security means Financial Security Assurance Inc.

Examples of Financial Security in a sentence

  • The Counter-Party is responsible at all times for managing its activity within both its TPEA and its TPES or increasing its Financial Security to avoid reaching its limits.

  • Required Financial Security in excess of TPE must be in the form of a cash deposit.

  • Interest is not paid on Cash Collateral balances held by ERCOT where, in accordance with paragraph (4) of Section 16.11.7, Release of Market Participant’s Financial Security Requirement, the Counter-Party’s Standard Form Market Participant Agreement has been terminated and ERCOT has determined that no obligations remain owing or will become due and payable.

  • Each Counter-Party shall maintain any required Financial Security in a form acceptable to ERCOT in its sole discretion.

  • ERCOT may reject any bids or offers from the Counter-Party in the DAM until it has increased its Financial Security.

More Definitions of Financial Security

Financial Security means, in relation to a recipient, the prevention of substantial losses of money or of value of property;
Financial Security means the financial security provided under and in accordance with the provisions of Section 2 and other provisions of this Agreement and with the provisions of Section 6 of the Development Agreement (including any additional financial security made part thereof, any increases and other adjustments thereto, and any financial security substituted therefor) and the funds representative thereof and therein.
Financial Security means having a net worth of not less than $10,000.
Financial Security means a deposit of money, a performance bond or bank guarantee, an insurance policy or a letter of credit. "Good Industry Practice" means in relation to any undertaking and any circumstances, the exercise of that degree of skill, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced operator engaged in the same type of undertaking under the same or similar circumstances. "normal capability limits" means the technical limits that would normally apply to the provision of its transmission services in accordance with the STC as at the date this condition comes into force.
Financial Security means holding financial security in a tank system or facility site and is not considered ownership of a tank system unless certain criteria of 40 CFR 280 Subpart H is met.