Collateral Threshold Amount means, with respect to Party A or its Guarantor, if applicable, the amount determined in accordance with Table A below; provided that (i) for the applicable Credit Rating within Table A, Collateral Threshold Amount for such Party shall be the lesser of that Party’s applicable percentage of Tangible Net Worth or the amount shown as the Credit Limit; and provided further, that in the event Party A or its Guarantor is (a) only rated by one Credit Rating Agency, such Credit Rating will apply; (b) rated by two Credit Rating Agencies, the lower of the two Credit Ratings will apply; (c) rated by all three Credit Rating Agencies, then the lower of the two highest Credit Ratings will apply and (d) in the event that the two highest Credit Ratings are common, such common Credit Rating will apply; (ii) if Party A’s Guarantor has provided a corporate guaranty, the Collateral Threshold Amount shall be the lesser of the Collateral Threshold Amount as determined by (i) above or the amount of such corporate guaranty; provided, that Party A’s Guarantor will be granted a single Credit Limit to be applied to all Fixed Price Customer Supply Contracts for which it guarantees payment obligations on behalf of one or more parties to such Fixed Price Customer Supply Contracts; (iii) upon the occurrence and during the continuance of an Event of Default, Potential Event of Default, or Specified Condition with respect to Party A, Party A’s Collateral Threshold Amount shall be zero; and (iv) if none of Xxxxx’x, S&P nor Fitch assign a Credit Rating to Party A or its Guarantor, as applicable, Party A’s Collateral Threshold Amount shall be zero. Party A will be granted a single Credit Limit to be applied across this Agreement and all other Fixed Price Customer Supply Contracts. The maximum level of the Credit Limit to be provided to the Guarantor will be determined in accordance with Table A below. If Party A has one or more Affiliates that are parties to a Fixed Price Customer Supply Contract (“FPCSC Affiliates”), Party A and its FPCSC Affiliate(s) will each be granted a separate, stand-alone Credit Limit. In this case, Party A’s Credit Limit will be the lower of (a) the appropriate Credit Limit as shown in Table A; and (b) an amount determined by dividing the appropriate Credit Limit as shown in Table A for Party A by the sum of the appropriate Credit Limits applicable for Party A and each FPCSC Affiliate and multiplying such amount by $80,000,000. Credit Rating Threshold (the lesser of...
Collateral Threshold Amount means, with respect to Party A or its Guarantor, if applicable, the amount determined in accordance with Table A below; provided that (i) for the applicable Credit Rating within Table A, Collateral Threshold Amount for such Party shall be the lesser of that Party’s applicable percentage of Tangible Net Worth or the amount shown as the Credit Limit; and provided further, that in the event Party A or its Guarantor is (a) only rated by one Credit Rating agency, such Credit Rating will apply; (b) rated by two Credit Rating agencies, the lower of the two Credit Ratings will apply; (c) rated by all three Credit Rating agencies, then the lower of the two highest Credit Ratings will apply and
Collateral Threshold Amount means Seller’s Collateral Threshold Amount or Buyer’s Collateral Threshold Amount.
Examples of Collateral Threshold Amount in a sentence
The Seller will be granted a single Collateral Threshold Amount to be applied across this Confirmation Agreement and all other Fixed Price Customer Supply Contracts as provided below.
More Definitions of Collateral Threshold Amount
Collateral Threshold Amount means, with respect to Seller or its Guarantor, if applicable, the amount determined in accordance with Table A below; provided that:
Collateral Threshold Amount means $250,000.
Collateral Threshold Amount means, with respect to Party A or its Guarantor, if applicable, the amount determined in accordance with Table A below; provided that (i) for the applicable Credit Rating within Table A, Collateral Threshold Amount for such Party shall be the lesser of that Party’s applicable percentage of Tangible Net Worth or the amount shown as the Credit Limit; and provided further, that in the event Party A or its Guarantor is (a) only rated by one Credit Rating Agency agency, such Credit Rating will apply; (b) rated by two Credit Rating Agencies agencies, the lower of the two Credit Ratings will apply; (c) rated by all three Credit Rating Agencies agencies, then the lower of the two highest Credit Ratings will apply and (d) in the event that the two highest Credit Ratings are common, such common Credit Rating will apply; (ii) if Party A’s Guarantor has provided a corporate guaranty, the Collateral Threshold Amount shall be the lesser of the Collateral Threshold Amount as determined by (i) above or the amount of such corporate guaranty; provided, that Party A’s Guarantor will be granted a single Credit Limit Collateral Threshold Amount to be applied to all Fixed Price Customer Supply Contracts for which it guarantees payment obligations on behalf of one or more parties to such Fixed Price Customer Supply Contracts;
Collateral Threshold Amount means, with respect to Party A or its Guarantor, if applicable, the amount determined in accordance with Table A below; provided that (i) for the applicable Credit Rating within Table A, Collateral Threshold Amount for such Party shall be the lesser of that Party’s applicable percentage of Tangible Net Worth or the amount shown as the Credit Limit; and provided further, that in the event Party A or its Guarantor is (a) only rated by one credit rating agency Credit Rating Agency, such Credit Rating will apply; (b) rated by two credit rating agencies Credit Rating Agencies, the lower of the two Credit
Collateral Threshold Amount means, with respect to Party A or its Guarantor, if applicable, the amount determined in accordance with Table A below; provided that (i) for the applicable Credit Rating within Table A, Collateral Threshold Amount for such Party shall be the lesser of that Party’s applicable percentage of Tangible Net Worth or the amount shown as the Credit Limit; and provided further, that in the event Party A or its Guarantor is (a) only rated by one Credit Rating Agencyagency, such Credit Rating will apply; (b) rated by two Credit Rating Agenciesagencies, the lower of the two Credit Ratings will apply;