Retail margin means an amount, reflecting differences in
Operating Margin means the incremental adjustments, measured in megawatts, required in PJM Region operations in order to accommodate, on a first contingency basis, an operating contingency in the PJM Region resulting from operations in an interconnected Control Area. Such adjustments may result in constraints causing Transmission Congestion Charges, or may result in Ancillary Services charges pursuant to the PJM Tariff.
CD Margin means a rate per annum determined in accordance with the Pricing Schedule.
Step Up Margin means the rate per annum specified in the applicable Final Terms; and
Buyer’s Margin Amount”, with respect to any Transaction as of any date, the amount obtained by application of the Buyer’s Margin Percentage to the Repurchase Price for such Transaction as of such date;