Minimum Rating. The Program Bonds have a long-term rating of “AAA”/“Aaa”. The Complete Indenture provides that to the extent that such rating for the Program Bonds is not maintained while the proceeds thereof are Escrowed Proceeds, all proceeds that are still held in Escrow must be used immediately to redeem a corresponding amount of Program Bonds.
Minimum Rating. The Program Bonds have a long-term rating of not less than ‘Baa3’/ ‘BBB-’.
Minimum Rating. The Borrower will not permit or suffer the financial strength rating of each Regulated Insurance Company by A.M. Best Company to be less than “A-” at any time to the extent such Regulated Insurance Company is rated by A.M. Best Company.
Minimum Rating. The Obligor shall at all times maintains a minimum AM Best Financial Strength Rating of B++.
Minimum Rating. The lowest credit rating for a DS Supplier, as set forth in this Appendix A, that can obtain unsecured credit. APPENDIX B Deleted: MTM BUYER’S EXPOSURE CALCULATION INFORMATION Deleted: There Deleted: AMOUNT Disclaimer: The prices that appear in this Appendix are purely hypothetical and are not based on or derived from any actual source for forward pricing. T hey are solely for purposes of illustration. Capitalized terms not defined herein shall have the meaning in the Agreement. Deleted: Total Deleted: Exposure Amounts Deleted: Total As set forth in Article 6 (Creditworthiness) of the Agreement, the DS Supplier’s credit exposure (the “Xxxx-to-Market (MtM) Exposure Amount”) is an amount calculated each Trading Day for the DS Supplier that reflects the financial exposure to the Buyer due to fluctuations in Forward Market Prices for Energy. The MtM Exposure Amount will be equal to 1.1 times the sum of the MtM credit exposures for each applicable month. The Total Exposure Amount is the sum of the calculated Buyer’s Exposure for all Transactions under this Agreement and all other transactions under all supplier master agreements executed between the Parties pursuant to the PaPUC Orders to serve Buyer’s DS Load. For Fixed Price Default Supply, the Buyer’s Exposure during the term of a Transaction shall be calculated by determining the M tM Exposure Amount, then subtracting the sum of any unpaid or unbilled amounts owed by Buyer to DS Supplier pursuant to a Transaction. This Appendix B explains the methodology and data sources that the Buyer will use to calculate the MtM Exposure Amount and Total Exposure Amount. Deleted: that On a Transaction Date, the Buyer’s Exposure for Fixed Price Transaction shall be deemed equal to zero. To the extent that the calculations of the Total Exposure Amount for a given Trading Day result in a negative number, the Total Exposure Amount for such date shall be deemed equal to zero. Calculation of the MtM Exposure Amount and Total Exposure Amount Deleted: Exposure Amount For each Transaction, on each Trading Day subsequent to the Transaction Date, the MtM credit exposures will be calculated, with respect to each month remaining in the Delivery Period, as the sum of the following: the relevant month On-Peak Energy Forward Price minus the relevant month On-Peak Initial Xxxx Xxxxx, multiplied by the relevant month On-Peak Estimated Energy Quantity; the relevant month Off-Peak Energy Forward Price minus the relevant mon...
Minimum Rating. The Facilities shall have received a prospective senior secured credit rating of not less than B1 from Xxxxx'x (with a stable outlook) and B- from S&P (with a stable outlook), both of which ratings shall be in effect on the Closing Date.
Minimum Rating. The Company shall have achieved a corporate rating of BB+ or better from Standard & Poor's and Ba1or better from Xxxxx'x, such rating shall then be in effect and no downgrading shall have occurred in such rating by either of such rating agencies.
Minimum Rating. The lowest credit rating, as set forth in this Appendix A, that a DS Supplier or Guarantor must have to obtain unsecured credit. APPENDIX B MtM Exposure Amount Calculation Information Table 1 provides information that will be determined on each DS Solicitation Date for each month of the Delivery Period for each applicable Transaction. An average of broker quotes will be used to develop monthly on- and off-peak energy forward price marks when quotes are available for individual months, two-month blocks (e.g., January- February) or quarterly blocks (e.g., October-December)2. For all the remaining months the Company will be using a proprietary method that reflects forward market conditions. The Company reserves the right to examine the quotes from sources for anomalies or inconsistencies and to discard anomalous quotes as appropriate in its reasonable discretion. The initial xxxx for each Billing Month is the On-Peak Energy Forward Price and the Off-Peak Energy Forward Price that was calculated on the date that the DS Solicitation closes and will not change over the life of the applicable Transaction. After the close of the DS Solicitation On-Peak Energy Forward Prices and Off-Peak Energy Forward Prices will change. In addition, the on-peak and off-peak loads used to calculate the MtM credit exposures will be adjusted monthly to reflect the most current changes. If quotes are obtained from more than one broker for a month, the xxxx for that month will be the average xxxx over all sources that are available. If quotes for individual months are unavailable then the Company may make use of quotes that are available for a two-month block or a quarterly block to develop the monthly xxxx as described above. The Company reserves the right to examine the quotes from sources for 2 If quotes are obtained from more than one broker for a month, the xxxx for that month will be the average xxxx over all sources that are available. If quotes for individual months are unavailable, then the Company may make use of quotes that are available for a two-month block or a quarterly block to develop the monthly xxxx. For example, when an On-Peak Energy Forward Price is available for a two-month block or a quarterly block and a component of the block are both quoted, the component will be equal to its quoted price and the other months in the block will be constructed so that the weighted average (weighted by on- peak hours in each month) of the block equals the quote for the block; e...
Minimum Rating. Each of the Seller and the Servicer shall take such actions as are reasonably requested by the Agent and as otherwise are necessary to obtain and thereafter maintain from (i) Moody's a rating indication consistent with an "A2" for the financing xxxxxxty provided hereunder and (ii) S&P, a rating of the timely payment of Yield, subject to the Available Funds Cap, and the ultimate repayment of the aggregate Capital Investment on or prior to the Rated Final Maturity Date of at least "A" (collectively, the "Minimum Rating") on or prior to August 9, 2002 (including, without limitation, modifying the calculation of Advance Rate and Excess Concentration Amount and agreeing to other amendments to this Agreement and the other Transaction Documents (including, without limitation, amendments of provisions with respect to Eligible Receivables criteria) to the extent necessary to obtain and thereafter maintain such a Minimum Rating). Moody's and S&P intend to monitor the aforementioned ratings on an onxxxxx xasis subject to the conditions agreed to by Moody's and S&P, respectively.
Minimum Rating. The Borrower will not permit or suffer the financial strength rating of each Regulated Insurance Company by A.M. Best Company to be less than “A-” at any time to the extent such Regulated Insurance Company is rated by A.M. Best Company; provided that, in the case of a Regulated Insurance Company that is acquired after the Effective Date, such Regulated Insurance Company may have a rating by A.M. Best Company of less than “A-” until the date that is one (1) year after the date of acquisition of such Regulated Insurance Company.
