Virtual Credit Exposure definition

Virtual Credit Exposure means the amount of potential credit exposure created by a market participant’s bid submitted into the Day-ahead market, as defined in Tariff, Attachment Q. Virtual Transaction:
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Virtual Credit Exposure means the amount of potential credit exposure created by a market participant’s bid submitted into the Day-ahead market, as defined in Tariff, Attachment Q.
Sample 1Sample 2Sample 3
Virtual Credit Exposure means the amount of potential credit exposure created by a
Sample 1

Examples of Virtual Credit Exposure in a sentence

  • If one or more groups of bids is submitted and accepted, and a subsequent group of submitted bids causes the total submitted bids to exceed the Virtual Credit Exposure, then only that subsequent set of bids will be rejected.

  • Upon such notification, the Market Participant may alter its virtual bids and offers so that its Virtual Credit Exposure does not exceed its Credit Available for Virtual Bidding, and may resubmit them.

  • The credit screen process will automatically reject Virtual Transactions submitted by the Market Participant in a customer account if the Market Participant’s Credit Available for Virtual Transactions, allocated on a customer account basis, is exceeded by the Virtual Credit Exposure that is calculated based on the Market Participant’s Virtual Transactions submitted, as described below.

  • Each PJM Market Participant that is identified as requiring Virtual Bid Screening based on bidding history will be screened in the following manner: If the participant’s Virtual Credit Exposure exceeds its Credit Available for Virtual Bidding, the Market Participant will be notified via an eMKT error message, and the submitted bids will be rejected.

  • The process will automatically reject all virtual bids and offers submitted by the PJM market participant if the participant’s Credit Available for Virtual Bidding is exceeded by the Virtual Credit Exposure that is calculated based on the participant’s submitted bids and offers as described below.

  • A Market Participant whose Virtual Transactions are rejected may alter its Virtual Transactions so that its Virtual Credit Exposure does not exceed its Credit Available forVirtual Transactions, and may resubmit them.

  • A Market Participant whose virtual bids are rejected may alter its virtual bids and offers so that its Virtual Credit Exposure does not exceed its Credit Available for Virtual Bidding, and may resubmit them.

  • The credit screen process will automatically reject virtual bids and offers submitted by the PJM market participant if the participant’s Credit Available for Virtual Bidding is exceeded by the Virtual Credit Exposure that is calculated based on the participant’s submitted bids and offers as described below.

  • If one or more groups of Virtual Transactions is submitted and accepted, and a subsequent group of submitted Virtual Transactions causes the total submitted Virtual Transactions to exceed the Virtual Credit Exposure, then only that subsequent set of Virtual Transactions will be rejected.

  • The credit screen process will automatically reject Virtual Transactions submitted by the PJM market participant if the participant’s Credit Available for Virtual Transactions is exceeded by the Virtual Credit Exposure that is calculated based on the participant’s submitted Virtual Transactions as described below.


More Definitions of Virtual Credit Exposure

Virtual Credit Exposure means the amount of potential credit exposure created by x
Sample 1

Related to Virtual Credit Exposure

  • Total Credit Exposure means, as to any Lender at any time, the unused Commitments and Revolving Credit Exposure of such Lender at such time.

  • Credit Exposure means, as to any Lender at any time, the sum of (a) such Lender’s Revolving Credit Exposure at such time, plus (b) an amount equal to the aggregate principal amount of its Term Loans outstanding at such time.

  • Revolving Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time.

  • Aggregate Credit Exposure means, at any time, the aggregate Credit Exposure of all the Lenders at such time.

  • Total Revolving Credit Exposure means, at any time, the sum of the outstanding principal amount of all Lenders’ Revolving Loans, their LC Exposure and their Swingline Exposure at such time; provided, that clause (a) of the definition of Swingline Exposure shall only be applicable to the extent Lenders shall have funded their respective participations in the outstanding Swingline Loans.

  • Revolving Dollar Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Syndicated Loans, and its LC Exposure and Swingline Exposure, at such time made or incurred under the Dollar Commitments.

  • Revolving Multicurrency Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Syndicated Loans, and its LC Exposure and Swingline Exposure, at such time made or incurred under the Multicurrency Commitments.

  • Revolving Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time.

  • 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.

  • Revolving L/C Exposure of any Class shall mean at any time the sum of (a) the aggregate undrawn amount of all Letters of Credit applicable to such Class outstanding at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof) and (b) the aggregate principal amount of all L/C Disbursements applicable to such Class that have not yet been reimbursed at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof). The Revolving L/C Exposure of any Class of any Revolving Facility Lender at any time shall mean its applicable Revolving Facility Percentage of the aggregate Revolving L/C Exposure applicable to such Class at such time. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the International Standby Practices, International Chamber of Commerce No. 590, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, that with respect to any Letter of Credit that, by its terms or the terms of any document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.

  • Loan Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Loans at such time.

  • Total Outstandings means the aggregate Outstanding Amount of all Loans and all L/C Obligations.

  • Total Revolving Exposure means, as to any Revolving Lender at any time, the unused Commitments and Revolving Exposure of such Revolving Lender at such time.

  • Dollar LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Dollar Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been reimbursed by or on behalf of the Borrower at such time. The Dollar LC Exposure of any Lender at any time shall be its Applicable Dollar Percentage of the total Dollar LC Exposure at such time.