Excess Performance Assurance definition

Excess Performance Assurance is an amount, calculated as of the date of the demand and rounded down to the nearest integral multiple of the Rounding Amount, which is equal to (x) less (y), but no less than zero, where:
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Excess Performance Assurance has the meaning stated in Section 5(a) of this Collateral Annex.
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Excess Performance Assurance means an amount, calculated as of the date of the demand and rounded down to the nearest integral multiple of the Rounding Amount, which is equal to (x) less (y), but no less than zero, where:
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Examples of Excess Performance Assurance in a sentence

  • The Beneficiary Party shall comply with the demand by reducing the amount(s) of outstanding Letter(s) of Credit the Posting Party previously posted, provided, however, that a Beneficiary Party shall not have an obligation to transfer or cause the transfer of Excess Performance Assurance until the Excess Performance Assurance exceeds the Minimum Transfer Amount, at which time the Beneficiary Party shall transfer the entire amount of the Excess Performance Assurance to the Posting Party.

  • Party A shall be required to transfer Excess Performance Assurance to the Posting Party, or LC Issuer in the case of a Letter of Credit, under Section 5 of the Collateral Annex no later than 5:00 pm Pacific prevailing time of the 2nd [second] Business Day after receipt of a demand therefor (the “Reduction Deadline”), provided, that if the demand is sent/received after such time as specified in the Collateral Annex, then the Reduction Deadline shall be 24 hours later.

  • The Posting Party shall have the right to specify such means of compliance provided, that it may specify Cash only to the extent that Excess Performance Assurance is in the form of Cash held by the Beneficiary Party.

  • Party A shall be required to transfer Excess Performance Assurance to the Posting Party, or LC Issuer in the case of a Letter of Credit, under Section 5 of the Collateral Annex no later than 5:00 pm Pacific prevailing time two Business Days after receipt of a demand therefor (the “Reduction Deadline”), provided, that if the demand is sent/received after such time as specified in the Collateral Annex, then the Reduction Deadline shall be 24 hours later.

Related to Excess Performance Assurance

  • Performance Assurance means collateral in the form of cash, letters of credit, or other security acceptable to the requesting Party.

  • Energy Performance Score means the numeric rating generated by Portfolio Manager that compares the Energy usage of the building to that of similar buildings.

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Financial Performance Covenants means the covenants of the Borrower set forth in Sections 6.10 and 6.11.

  • energy performance contracting means a contractual arrangement between the beneficiary and the provider of an energy efficiency improvement measure, verified and monitored during the whole term of the contract, where investments (work, supply or service) in that measure are paid for in relation to a contractually agreed level of energy efficiency improvement or other agreed energy performance criterion, such as financial savings;

  • Financial Performance Covenant means the covenant set forth in Section 6.10.

  • Energy savings performance contract means a public contract between a contracting agency and a qualified energy service company for the identification, evaluation, recommendation, design and construction of energy conservation measures, including a design-build contract, that guarantee energy savings or performance.

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.

  • Extreme performance coating means coatings designed for harsh exposure or extreme environmental conditions.

  • Additional Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.7 of this RFP Document

  • Total Performance means that the entire Work, except those items arising from the provisions of any warranty, have been performed in accordance with the Contract;

  • Qualifying Performance Criteria means any one or more of the following performance criteria, either individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit, Parent, Subsidiary or business segment, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, and on a pre-tax or after-tax basis, in each case as specified by the Committee in the Award: (i) cash flow (including operating cash flow or free cash flow); (ii) earnings (including gross margin, earnings before interest and taxes, earnings before taxes, and net earnings); (iii) earnings per share; (iv) growth in earnings or earnings per share; (v) stock price; (vi) return on equity or average stockholders’ equity; (vii) total stockholder return; (viii) return on capital; (ix) return on assets or net assets; (x) return on investment; (xi) revenue; (xii) income or net income; (xiii) operating income or net operating income; (xiv) operating profit or net operating profit; (xv) operating margin; (xvi) return on operating revenue; (xvii) market share; (xviii) contract awards or backlog; (xix) overhead or other expense reduction; (xx) growth in stockholder value relative to the moving average of the S&P 500 Index or a peer group index; (xxi) credit rating; (xxii) strategic plan development and implementation (including individual performance objectives that relate to achievement of the Company’s or any business unit’s strategic plan); (xxiii) improvement in workforce diversity; (xxiv) expenses; (xxv) economic value added; (xxvi) product quality; (xxvii) number of customers; (xxviii) objective customer indicators; (xxix) customer satisfaction; (xxx) new product invention or innovation; (xxxi) profit after taxes; (xxxii) pre-tax profit; (xxxiii) working capital; (xxxiv) sales; (xxxv) advancement of the Company’s product pipeline; (xxxvi) consummation of strategic transactions; (xxxvii) reduction in cash utilization; and (xxxviii) addition of technologies and products. The Committee may appropriately adjust any evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occurs during a performance period: (A) asset write-downs; (B) litigation or claim judgments or settlements; (C) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (D) accruals for reorganization and restructuring programs; and (E) any gains or losses classified as extraordinary or as discontinued operations in the Company’s financial statements.

  • Qualified Performance-Based Compensation means any compensation that is intended to qualify as “qualified performance-based compensation” as described in Section 162(m)(4)(C) of the Code.

  • Basket Performance means a decimal number calculated by applying the following formula: BP = ∑ W ×iX ⎛⎜⎜i=1 ⎝ Underlyingi,FINAL ⎞⎟⎠Underlyingi,INITIAL ⎟ where: BP = Basket Performance X = 8 Wi = Weighting of the relevant Underlying Underlying i,FINAL Underlying i,INITIAL= Arithmetic mean of the Reference Prices of the relevant Underlying with respect to all Averaging Dates = Initial Price of the relevant Underlying

  • Qualified Performance-Based Award means an Award intended to qualify for the Section 162(m) Exemption, as provided in Section 11.

  • Performance audit means an objective and systematic assessment of a state agency or agencies or any of their programs, functions, or activities by the state auditor or designee in order to help improve agency efficiency, effectiveness, and accountability. Performance audits include economy and efficiency audits and program audits.

  • Capacity Performance Resource means a Capacity Resource as described in Tariff, Attachment DD, section 5.5A(a).

  • Interest Free Security Deposit/ Performance Security means interest free amount to be deposited by the Licensee with NMRC as per terms and conditions of License Agreement as a security against the performance of the License Agreement.

  • Index Performance means, in relation to an Index and an Auto-Call Valuation Date or the Valuation Date, as the case may be, a percentage calculated by the Calculation Agent in respect of such date in accordance with the following formula: Index Performance =Final Index Level × 100% Initial Index Level

  • Underlying Performance means in relation to the Valuation Date a decimal number calculated by applying the following formula: UP =Underlying FINAL Underlying INITIAL where: UP = Underlying Performance with respect to the Valuation Date UnderlyingFINAL UnderlyingINITIAL= Reference Price of the Underlying with respect to the Valuation Date = Initial Price of the Underlying

  • Control Performance Standard or “CPS” shall mean the reliability standard that sets the limits of a Balancing Authority’s Area Control Error over a specified time period.

  • Key Performance Indicator means a measure that captures the performance of a critical variable to expand and improve community-based corrections programs to promote offender success, ensure accountability, enhance public safety, and reduce recidivism.

  • Key Performance Indicators or “KPIs” means the performance measurements and targets set out in Part 3 of Schedule 1 (Services) of this Framework Agreement;

  • Annual performance report means a written appraisal of the teaching staff member's performance prepared by the teaching staff member’s designated supervisor based on the evaluation rubric for his or her position.

  • Non-Performance Charge means the charge applicable to Capacity Performance Resources as defined in Tariff, Attachment DD, section 10A(e). Nonincumbent Developer:

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.