Financial Assurance Obligations definition

Financial Assurance Obligations means any financial security provided by a Party under the Agreement to meet or secure the obligations of that Party hereunder excluding the Default Fee Collateral, such as a Letter of Credit, a security interest in an asset, guaranty, or other good and sufficient security of a continuing nature as determined to be satisfactory by CenterPoint in its sole discretion, and any obligation(s) in respect of the foregoing, all of which obligations and security shall be provided at the sole expense of the Party whose credit is being supported in a form, substance and amount that is reasonably acceptable to CenterPoint, and consistent with credit and collateral requirements set forth herein. CenterPoint shall have no Financial Assurance Obligations under this Agreement so long as CenterPoint continues to perform in compliance with the SCO Program.
Sample 1Sample 2Sample 3
Financial Assurance Obligations means financial support provided to secure the obligations of School/Government Supplier to this Agreement such as a Letter of Credit or other good and sufficient security of a continuing nature as reasonably determined satisfactory by Company in its sole discretion, and any obligations(s) in respect of the foregoing, all of which obligations and security shall be provided at the sole expense of the School/Government Supplier whose credit is being supported in a form, substance, and amount that is reasonably acceptable to Company, and consistent with credit and collateral requirements set forth herein.
Sample 1Sample 2
Financial Assurance Obligations means financial support provided to secure the obligations of a Party to this Agreement such as a Letter of Credit, a security interest in an asset, or other good and sufficient security of a continuing nature as reasonably determined satisfactory by CenterPoint in its sole discretion, and any obligation(s) in respect of the foregoing, all of which obligations and security shall be provided at the sole expense of the Party whose credit is being supported in a form, substance and amount that is reasonably acceptable to CenterPoint, and consistent with credit and collateral requirements set forth herein. CenterPoint shall have no Financial Assurance Obligations under this Agreement so long as CenterPoint continues to perform in compliance with the Commission orders which approved and authorized CenterPoint's Choice Program.
Sample 1

Examples of Financial Assurance Obligations in a sentence

  • If Company has reasonable grounds for insecurity regarding the performance of any obligation under this Agreement (whether or not then due) by School/Government Supplier (including, without limitation, the occurrence of a material change in the creditworthiness of School/Government Supplier), Company may demand adequate assurance of performance in the form of Financial Assurance Obligations.

  • SCO Supplier agrees that, in the Event of Default as defined in this Agreement, and in addition to any other rights and remedies CenterPoint may enjoy, CenterPoint shall have the right to liquidate and use the proceeds from any and all of SCO Supplier's Financial Assurance Obligations and Purchase of Receivables to satisfy SCO Supplier's obligations under the Agreement.

  • Failure of School/Government Supplier to adjust the dollar amount of the Financial Assurance Obligations as directed by the Company may result in the Company limiting the enrollment of additional Customers in School/Government Supplier’s Pool(s) and/or the Company’s termination of service hereunder for violation of School/Government Supplier’s Code of Conduct.

  • School/Government Supplier agrees that, in the event of Default as that term is defined in Article 6 of this Agreement, Company shall have the right to use the proceeds from School/Government Supplier’s Financial Assurance Obligations to satisfy School/Government Supplier’s obligations under this Agreement.

  • The proceeds from such Financial Assurance Obligations shall be used to satisfy any outstanding claims that Company may have against School/Government Supplier, including but not limited to, interstate pipeline capacity charges, imbalance charges, cash-out charges, pipeline penalty charges, reservation charges, and any other amounts owed to Company, for which Company is or will be responsible, related to School/Government Supplier’s participation in School/Government Pooling Service.

  • The Financial Assurance Obligations may also be adjusted at the sole discretion of Company based upon School/Government Supplier’s demonstrated ability or inability to pay promptly.

  • In the event School/Government Supplier elects, or is forced, to terminate its participation in School/Government Pooling Service in accordance with the provisions of this Agreement, or in the event of a Default resulting in termination of this Agreement, School/Government Supplier shall continue to maintain the Financial Assurance Obligations until Company confirms that School/Government Supplier has satisfied all of Company’s outstanding claims.

  • School/Government Supplier agrees that, in the event of Default as that term is defined in Article 6 of this Agreement, Company shall have the right to use the proceeds from School/Government Supplier's Financial Assurance Obligations to satisfy School/Government Supplier's obligations under this Agreement.

  • See "-- Insurance and Financial Assurance Obligations." Under CERCLA, the Company may not be liable for the remediation of a disposal site that was never owned or operated by the Company ("third party site") containing hazardous substances transported to such site by the Company if the site was selected by the generator of the hazardous substance.

  • SCO Supplier agrees that, in the Event of Default as defined in this Agree- ment, and in addition to any other rights and remedies VEDO may enjoy, VEDO shall have the right to liquidate and use the proceeds from any and all of SCO Supplier’s Financial Assurance Obligations and Purchase of Receivables to satisfy SCO Supplier’s obligations under the Agreement.


More Definitions of Financial Assurance Obligations

Financial Assurance Obligations means any financial security provided by a Party under the Agreement to meet or secure the obligations of that Party hereunder excluding the Default Fee Collat- eral, such as a Letter of Credit, a security interest in an asset, guaranty, or other good and sufficient se- curity of a continuing nature as determined to be satisfactory by VEDO in its sole discretion, and any obligation(s) in respect of the foregoing, all of which obligations and security shall be provided at the sole expense of the Party whose credit is being supported in a form, substance and amount that is rea- sonably acceptable to VEDO, and consistent with credit and collateral requirements set forth herein. VEDO shall have no Financial Assurance Obligations under this Agreement so long as VEDO continues to perform in compliance with the SCO Program.
Sample 1
Financial Assurance Obligations means financial support provided to secure the obligations of a Party to this Agreement such as a Letter of Credit, a security interest in an asset, or other good and sufficient security of a continuing nature as reasonably determined satisfactory by VEDO in its sole discretion, and any obligation(s) in respect of the foregoing, all of which obligations and security shall be provided at the sole expense of the Party whose credit is being supported in a form, substance and amount that is reasonably acceptable to VEDO, and consistent with credit and collateral requirements set forth herein. VEDO shall have no Financial Assurance Obligations under this Agreement so long as VEDO continues to perform in compliance with the Commission orders which approved and authorized VEDO’s Choice Program.
Sample 1

Related to Financial Assurance Obligations

  • Financial assurance means a commitment of funds or resources by an operator to a regulatory authority that satisfies the requirements in s. 14 and is sufficient to pay for reclamation activities required by this chapter.

  • Financial Assurances means the financial assurances provided by the Shipper and accepted by the Carrier in accordance with Rule 19.

  • Financial Instrument Obligations means obligations arising under:

  • Compliance Obligations means obligations of the AMC to comply with: (a) laws or international guidance and internal policies or procedures, (b) any demand or request from authorities or reporting, disclosure or other obligations under laws, and (c) laws requiring us to verify the identity of our customers.

  • Compliance obligation means the quantity of verified reported emissions or assigned emissions for which an entity must submit compliance instruments to ARB.

  • Escrow Obligations means (a) Government Obligations, (b) certificates of deposit issued by a bank or trust company which are (1) fully insured by the Federal Deposit Insurance Corporation or similar corporation chartered by the United States or (2) secured by a pledge of any Government Obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured, which security is held in a custody account by a custodian satisfactory to the Registrar or the Registrar, as the case may be, or (c)(1) evidences of a direct ownership in future interest or principal on Government Obligations, which Government Obligations are held in a custody account by a custodian satisfactory to the Registrar pursuant to the terms of a custody agreement in form and substance acceptable to the Registrar and (2) obligations issued by any state of the United States or any political subdivision, public instrumentality or public authority of any state, which obligations are fully secured by and payable solely from Government Obligations, which Government Obligations are held pursuant to an agreement in form and substance acceptable to the Registrar and, in any such case, maturing as to principal and interest in such amounts and at such times as will insure the availability of sufficient money to make the payment secured thereby.

  • Financial aid means loans and/or grants to needy students

  • Reference Obligations The residential mortgage loans identified on xxxx://xxx.xxxxxxxxxx.xxx/creditriskofferings/security_data.html. Reference Pool: All of the Reference Obligations, collectively.

  • Financial Agreement means an agreement that meets the

  • Provider of financial assurance means an entity that provides financial assurance to an Owner or Operator of an underground storage tank through one of the mechanisms listed in these Regulations, including a guarantor, insurer, risk retention group, surety, issuer of a letter of credit, issuer of a state required mechanism, or a state.

  • Guaranty Obligations means, with respect to any Person, without duplication, any obligations of such Person (other than endorsements in the ordinary course of business of negotiable instruments for deposit or collection) guaranteeing or intended to guarantee any Indebtedness of any other Person in any manner, whether direct or indirect, and including without limitation any obligation, whether or not contingent, (a) to purchase any such Indebtedness or any property constituting security therefor, (b) to advance or provide funds or other support for the payment or purchase of any such Indebtedness or to maintain working capital, solvency or other balance sheet condition of such other Person (including without limitation keep well agreements, maintenance agreements, comfort letters or similar agreements or arrangements) for the benefit of any holder of Indebtedness of such other Person, (c) to lease or purchase property, securities or services primarily for the purpose of assuring the holder of such Indebtedness, or (d) to otherwise assure or hold harmless the holder of such Indebtedness against loss in respect thereof. The amount of any Guaranty Obligation hereunder shall (subject to any limitations set forth therein) be deemed to be an amount equal to the outstanding principal amount (or maximum principal amount, if larger) of the Indebtedness in respect of which such Guaranty Obligation is made.

  • Company Obligations means all Obligations of the Company.

  • Overdraft Obligations means, with respect to any Portfolio, the amount of any outstanding Overdraft(s) provided by the Custodian to such Portfolio together with all accrued interest thereon.

  • Bank Products Obligations of any Person means the obligations of such Person pursuant to any Bank Products Agreement.

  • Intercompany Obligations as defined in the Guarantee and Collateral Agreement.

  • Structured Finance Obligation means any obligation issued by a special purpose entity secured directly by, referenced to, or representing ownership of, a pool of receivables or other financial assets of any Obligor (excluding any loan made to an operating business that buys, sells and/or liquidates such assets in the ordinary course of business), including (but not limited to) collateralized debt obligations, collateralized loan obligations, asset backed securities and mortgage backed securities or any re-securitization thereof.

  • Safety Obligations means all applicable obligations concerning health and safety (including any duty of care arising at common law, and any obligation arising under statute, statutory instrument or mandatory code of practice) in Great Britain;

  • Program Obligations means (1) all applicable statutes and any regulations issued by the Secretary pursuant thereto that apply to the Project, including all amendments to such statutes and regulations, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and (2) all current requirements in HUD handbooks and guides, notices, and mortgagee letters that apply to the Project, and all future updates, changes and amendments thereto, as they become effective, except that changes subject to notice and comment rulemaking shall become effective only upon completion of the rulemaking process, and provided that such future updates, changes and amendments shall be applicable to the Project only to the extent that they interpret, clarify and implement terms in this Agreement rather than add or delete provisions from such document. Handbooks, guides, notices, and mortgagee letters are available on HUD's official website: (xxxx://xxx.xxx.xxx/offices/adm/hudclips/index.cfm or a successor location to that site)).

  • Relevant Obligations means the Obligations constituting Bonds and Loans of the Reference Entity outstanding immediately prior to the effective date of the Succession Event, excluding any debt obligations outstanding between the Reference Entity and any of its Affiliates, as determined by the Calculation Agent. The Calculation Agent will determine the entity which succeeds to such Relevant Obligations on the basis of the Best Available Information. If the date on which the Best Available Information becomes available or is filed precedes the legally effective date of the relevant Succession Event, any assumptions as to the allocation of obligations between or among entities contained in the Best Available Information will be deemed to have been fulfilled as of the legally effective date of the Succession Event, whether or not this is in fact the case.

  • Cash Management Obligations means obligations owed by the Company or any Subsidiary to any Lender or a Cash Management Bank in respect of (1) any overdraft and related liabilities arising from treasury, depository and cash management services or any automated clearing house transfers of funds and (2) the Company’s or any Subsidiary’s participation in commercial (or purchasing) card programs at the Lender or any Affiliate (“card obligations”).

  • Guaranty Obligation has the meaning specified in the definition of "Contingent Obligation."

  • Canadian Obligations means all Obligations of the Canadian Loan Parties.

  • Financial Assistance Agreement means the Financial Assistance Agreement by and between the State of Wisconsin by the Department of Natural Resources and the Department of Administration and the Municipality pursuant to which the Bonds are to be issued and sold to the State, substantially in the form attached hereto and incorporated herein by this reference;

  • Specified Obligations means Obligations consisting of the principal of and interest on Loans, reimbursement obligations in respect of Swing Line Loans and L/C Obligations (including interest accrued thereon), and fees.

  • Support Obligations means, as to any Person, (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person. The amount of any Support Obligations shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Support Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.

  • Reference Obligation means an obligation used for the purposes of determining the cash settlement value of a credit derivative;