SUBSTITUTION OF CREDIT SUPPORT Sample Clauses

SUBSTITUTION OF CREDIT SUPPORT. Buyer may, at any time and from time to time, replace any or all of the Credit Support provided by it (the “Outstanding Credit Support”) with one or more alternative forms of Credit Support, whereupon the Guaranteed Party shall cooperate in obtaining the concurrent release and termination of the Outstanding Credit Support.
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SUBSTITUTION OF CREDIT SUPPORT. Subject to Section 10.02, Sellers and Buyer hereby acknowledge that nothing contained herein shall be deemed to cause Buyer or any of its Affiliates to be substituted for either Seller or any of their respective Affiliates with respect to any of the Guaranties, Letters of Credit or Cash Collateral. Should either Seller desire to have Buyer or any of its Affiliates substitute or replace any of the Guaranties, the Letters of Credit or Cash Collateral, such Seller shall disclose in writing such instruments to Buyer prior to the Closing Date, and Buyer shall cause such substitution to occur as soon as practical after the Closing. Such Guaranties, Letters of Credit or Cash Collateral shall not have Buyer or its Affiliates substituted thereunder unless and until specifically agreed to in writing by Buyer or its Affiliates, but the assumption of any such obligations by Buyer or its Affiliates shall include a complete release of Sellers in respect thereof after Closing.
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SUBSTITUTION OF CREDIT SUPPORT. Sellers and Buyer hereby acknowledge that nothing contained herein shall be deemed to cause Buyer or any of its Affiliates to be substituted for either Seller or any of their respective Affiliates with respect to any of the Guaranties, Letters of Credit or Cash Collateral. Should Sellers desire to have Buyer or any of its Affiliates substitute or replace any of the Guaranties, the Letters of Credit or Cash Collateral, Sellers shall disclose in writing such instruments to Buyer prior to the Closing Date. Such Guaranties, Letters of Credit or Cash Collateral shall not have Buyer or its Affiliates substituted thereunder unless and until specifically agreed to in writing by Buyer or its Affiliates.
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Related to SUBSTITUTION OF CREDIT SUPPORT

  • Credit Support A Credit Support Document between the Parties may apply to obligations governed by the Agreement. If the Parties have executed a Credit Support Document, such Credit Support Document shall be subject to the terms of the Agreement and is hereby incorporated by reference in the Agreement. In the event of any conflict between a Credit Support Document and the Agreement, the Agreement shall prevail, except for any provision in such Credit Support Document in respect of governing law.

  • Application of credit balances Each Creditor Party may without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

  • Substitution of Collateral A Fund may substitute securities for any securities identified as Collateral by delivery to the Custodian of a Pledge Certificate executed by such Fund on behalf of the applicable Portfolio, indicating the securities pledged as Collateral.

  • Termination of Credit Facility (a) The Credit Facility shall terminate upon the earliest to occur of: (i) the termination of the Credit Facility in accordance with Section 13.1; (ii) the date on which the Credit Facility has been permanently reduced to zero pursuant to Section 2.3; and (iii) the Maturity Date. (b) Upon the termination of the Credit Facility, the right of the Borrower to obtain any credit thereunder and all of the obligations of the Lenders to extend credit thereunder shall automatically terminate.

  • Ratification of Credit Agreement Each Loan Party acknowledges and consents to the terms set forth herein and agrees that this Amendment does not impair, reduce or limit any of its obligations under the Loan Documents, as amended hereby. This Amendment is a Loan Document.