Examples of Net Obligation in a sentence
A Participant’s Total Net Obligation should not exceed its Working Credit Limit.
PJMSettlement will establish a Working Credit Limit for each Participant against which its Total Net Obligation will be monitored.
A Participant is subject to notification when its Total Net Obligation to PJMSettlement approaches the Participant’s established Working Credit Limit.
A Participant may reduce its Financial Security Requirement by agreeing in writing (in a form acceptable to PJMSettlement) to make additional payments, including prepayments, as and when necessary to ensure that such Participant’s Total Net Obligation at no time exceeds such reduced Financial Security Requirement.
PJMSettlement has the right to liquidate all or a portion of the account balances at its discretion to satisfy a Participant’s Total Net Obligation to PJMSettlement in the event of default under this credit policy or one or more of the Agreements.