Glossary Term: Level 1 Credit Default Cure Period

If the redetermined Credit Cover Percentage under paragraph 3.2.3(c) is greater than 80%, or if no default query notice was given, the Trading Party shall secure that its Credit Cover Percentage becomes not greater than 75% in relation to at least one Settlement Period in the period (the “Level 1 Credit Default Cure Period”):(a) commencing on the expiry of the Query Period, and (b) expiring at 2400 hours on the first Business Day after the day in which the Query Period expires; has the meaning given to that term in Section M3.2.5;

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