Unsecured Credit Allowance definition

Unsecured Credit Allowance means Unsecured Credit extended by PJMSettlement in an amount determined by PJMSettlement’s evaluation of the creditworthiness of a Participant. This is also defined as the amount of credit that a Participant qualifies for based on the strength of its own financial condition without having to provide Collateral. See also: “Working Credit Limit.” Updated VRR Curve:
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Unsecured Credit Allowance means Unsecured Credit extended by PJMSettlement in an amount determined by PJMSettlement’s evaluation of the creditworthiness of a Participant. This is also defined as the amount of credit that a Participant qualifies for based on the strength of its own financial condition without having to provide Collateral. See also: “Working Credit Limit.”
Sample 1Sample 2Sample 3
Unsecured Credit Allowance means Unsecured Credit extended by PJMSettlement in an amount determined by PJMSettlement’s evaluation of the creditworthiness of a Participant.
Sample 1

Examples of Unsecured Credit Allowance in a sentence

  • The Transmission Provider has the right at any time to modify any Unsecured Credit Allowance and/or require additional Financial Security as may be reasonably necessary to support the Tariff Customer’s ability to pay for market services provided under this Tariff and other Agreements.

  • The Non-FTR Credit Limit is the sum of its Unsecured Credit Allowance and any Available Non-FTR Financial Security (i.e., Financial Security provided in excess of its FTR Obligations).

  • Accordingly, the Unsecured Credit Allowance would be capped at $50,000,000.

  • If the modification results in a reduction or revocation of Unsecured Credit Allowance and the reduction or revocation results in the need to provide Financial Security, the Transmission Provider will promptly notify the Tariff Customer in writing of the requirement to provide Financial Security as a result of the reduction or revocation of the previously granted amount of Unsecured Credit Allowance.

  • For any Public Power entity for whom the product of the applicable percentage from Table 1 multiplied by the Tangible Net Worth for the Public Power entity yields an Unsecured Credit Allowance of less than $250,000 the Unsecured Credit Floor value shall be substituted as the authorized Unsecured Credit Allowance.

  • The credit limit extended to a Foreign Guarantor will be based on the Transmission Provider’s credit scoring model applicable to Domestic Guarantors; however, the maximum Unsecured Credit Allowance will be capped by the credit rating and the sovereign rating as detailed in the above table.

  • The credit scoring model converts the Composite Credit Score to a suggested Unsecured Credit Allowance through a three step process:STEP ONE: Convert the Tariff Customer’s Composite Credit Score to a percentage value: Table 1 below contains a matrix which converts the Composite Credit Score to a percentage value.

  • The Total Credit Limit for a Tariff Customer is the sum of its Unsecured Credit Allowance and the Financial Security provided less any Financial Security restricted for alternative capitalization purposes, if any.

  • Must provide audited financials in United States and/or Canadian GAAP format or International Financial Reporting Standards (IFRS) format with a clear representation of net worth, intangible assets, and any other information the Transmission Provider may require in order to determine the entity's Unsecured Credit Allowance.

  • If a Guarantor provides Corporate Guaranties for multiple Applicants and/or Tariff Customers and/or is also a Tariff Customer, the sum value of the Unsecured Credit Allowance of all such Applicants and/or Tariff Customer and the Guarantor shall not exceed the lesser of: (i) the approved Unsecured Credit Allowance for the Guarantor based on Transmission Provider’s financial review of Guarantor; or (ii) $50 million for Non-Foreign Guaranties and $25 million for Foreign Guaranties.

Related to Unsecured Credit Allowance

  • Credit allowance date means with respect to any qualified equity investment:

  • Prepetition Credit Agreement has the meaning specified in the recitals hereto.

  • First Lien Credit Agreement has the meaning set forth in the Recitals to this Agreement.

  • Term Loan Credit Agreement has the meaning set forth in the recitals to this Agreement.

  • Bank Credit Agreement means the Credit Agreement dated as of May 9, 2005 by and among the Company, certain Subsidiaries of the Company named therein, the Administrative Agent, and the Bank Lenders and other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.

  • Credit Amount has the meaning set forth in Section 4.01(b)(ii).

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Administrative Costs means all costs and expenses associated with providing notice of the Settlement to the Settlement Class and otherwise administering or carrying out the terms of the Settlement. Such costs may include, without limitation: escrow agent costs, the costs of publishing the summary notice, the costs of printing and mailing the Notice and Proof of Claim, as directed by the Court, and the costs of allocating and distributing the Net Settlement Fund to the Authorized Claimants. Such costs do not include legal fees.