Permitted Investment Securities means: (1) readily marketable securities issued or fully guaranteed by the United States of America or any agency or wholly owned corporation thereof; (2) commercial paper rated “Prime 1” by Xxxxx’x Investors Service, Inc. or A-1 by Standard and Poor’s Corporation with maturities of not more than one hundred eighty (180) days and short term notes payable of any Business Entity where said notes are rated at least “Prime 1” by Xxxxx’x Investors Service, Inc. or “A-1” by Standard & Poor’s Corporation with maturities of not more than ninety (90) days; (3) certificates of deposit or repurchase certificates issued by any Lender or any other financial institution acceptable to the Agent, all of the foregoing not having a maturity of more than one (1) year from the date of issuance thereof; (4) securities issued by municipalities rated AA or better by Standard & Poor’s Corporation not having a maturity of more than one (1) year from the date of issuance thereof; and (5) money market mutual funds having capital surplus of at least $1,000,000,000 and deemed acceptable by the Agent, substantially all of the assets of which are comprised of securities, commercial paper, certificates of deposit or repurchase certificates of the type described in subclauses (1) through (4) above.
Permitted Investment Securities means: (1) readily marketable, direct obligations of the United States of America or any agency or wholly owned corporation thereof which are backed by the full faith and credit of the United States, (2) certificates of deposit or other short-term direct obligations of (i) the Agent, (ii) TCB or (iii) any other financial institution having capital and surplus in excess of $5,000,000,000, and (3) other Investments mutually agreed to in writing by the Borrower and the Agent; provided, that in each case described in clauses (1) and (2), such obligation shall mature not more than one (1) year from the acquisition thereof. 46 Person shall mean any individual, corporation, business trust, unincorporated organization or association, partnership, joint venture, Governmental Authority or any other form of entity. Plan shall mean any plan subject to Title IV of ERISA and maintained for employees of the Borrower or of any member of a "controlled group of corporations", as such term is defined in the Code, of which the Borrower, any of its Subsidiaries or any ERISA Affiliate it may acquire from time to time is a part, or any such plan to which the Borrower, any of its Subsidiaries or any ERISA Affiliate is required to contribute on behalf of its employees. Prime Rate shall mean the rate of interest per annum publicly announced from time to time by Chase, or its successor financial institution, at its principal office in New York City as its prime rate in effect at such time. Without notice to the Borrower or any other Person, the Prime Rate shall change automatically from time to time as and in the amount by which said prime rate shall fluctuate, with each such change to be effective as of the date of each change in such prime rate. THE PRIME RATE IS A REFERENCE RATE AND DOES NOT NECESSARILY REPRESENT THE LOWEST OR BEST RATE ACTUALLY CHARGED BY CHASE OR SUCH SUCCESSOR FINANCIAL INSTITUTION TO ANY OF ITS CUSTOMERS. CHASE OR SUCH SUCCESSOR FINANCIAL 47 INSTITUTION MAY MAKE COMMERCIAL LOANS OR OTHER LOANS AT RATES OF INTEREST AT, ABOVE AND BELOW THE PRIME RATE.
Permitted Investment Securities means each of the following, to the extent the same is pledged as additional Collateral hereunder and is subject to a first priority perfected Lien in favor of the Agent for the ratable benefit of the Lenders (including a control or dominion agreement from any applicable Person in favor of the Agent that is in all respects satisfactory to the Agent): (a) readily marketable, direct obligations of the United States of America or any agency or wholly owned corporation thereof which are backed by the full faith and credit of the United States, maturing within one (1) year after the date of acquisition thereof, (b) certificates of deposit, commercial paper (if rated no lower than A-1/P-1) or other short-term direct obligations of (i) JPMorgan or (ii) any other domestic financial institution having capital and surplus in excess of $5,000,000,000, maturing within six months after the date of acquisition thereof, (c) money market funds having aggregate assets in excess of $5,000,000,000, and (d) other Investments mutually agreed to in writing by the Borrower and the Agent.
Examples of Permitted Investment Securities in a sentence
Borrower shall not make any loan, advance, extension of credit or capital contribution to, or make or have any Investment in, any Person, or purchase any stock, bonds, notes, debentures or other securities issued by any Person, or make any commitment to make any such extension of credit or Investment, except Permitted Investment Securities and travel advances in the ordinary course of business.
Make any loan, advance, extension of credit or capital contribution to, or make any Investment in, any Person, or make any commitment to make any such extension of credit or Investment, except the stock of Subsidiaries, Permitted Investment Securities and travel advances in the ordinary course of business to officers and employees.
In order to qualify as Permitted Investment Securities, Commercial Paper must be a2/P2 or better; taxable instruments must be Aa/AA or better; Municipal Notes must be Mig2/A-2 or better; and Municipal Obligations must be AA or better.
The Borrowers will not, and will not permit their Subsidiaries to, make any loan, advance, extension of credit or capital contribution to, or make any Investment in, any Person, or make any commitment to make any such extension of credit or Investment, except (a) Equity Interests issued by Subsidiaries as in effect on the date hereof; (b) Permitted Investment Securities, and (c) travel advances in the ordinary course of business to officers and employees.
More Definitions of Permitted Investment Securities
Permitted Investment Securities. Permitted Investment Securities" shall mean investments in cash, money market funds, Government and Government Agency Securities, including: (1) taxable investments in (i) U.S. Government and U.S. Government Obligations, (ii) Repurchase Agreements, (iii) Domestic Certificates of Deposit, Bankers Acceptances and Time Deposits, (iv) Eurodollar Certificates of Deposit and Time Deposits, (v) Corporate Obligations, Medium Term Notes and Deposit Notes, (vi) Commercial Paper and (vii) Auction Rate Preferreds; (2) tax-exempt investments in the form of (i) Variable Rate Demand Notes, (ii) Puttable Bonds, (iii) Commercial Paper, (iv) General Obligation & Revenue Bonds and (v) Auction Rate Securities; and (3) foreign currency forward contracts and purchased option contracts specifically undertaken for the purpose of hedging foreign currency receivable exposure. In order to qualify as Permitted Investment Securities, Commercial Paper must be a2/P2 or better; taxable instruments must be Aa/AA or better; Municipal Notes must be Mig2/A-2 or better; and Municipal Obligations must be AA or better. This Section shall in no way restrict Borrower's ability to make any acquisition.
Permitted Investment Securities means: (1) readily marketable securities issued or fully guaranteed by the United States of American; (2) commercial paper rated "Prime 1" by Xxxxx'x Investor Service, Inc., or A-1 by Standard and Poor's Borrower with maturities of not more than one hundred eighty (180) days; (3) mutual funds acceptable to the Lender; (4) certificates of deposit or repurchase contracts with financial institutions acceptable to the Lender on terms satisfactory to the Lender, all of the foregoing not having a maturity of more than one (1) year from the date of issuance thereof; and (5) readily marketable securities received in settlement of liabilities created in the ordinary course of business. Person shall mean any individual, business entity, trust, unincorporated organization, governmental authority, or any other form of entity. Plan shall mean any plan subject to Title IV of ERISA and maintained for employees of the Borrower or of any member of a "controlled group of corporations", as such term is defined in the Code, of which the Borrower is a part, or any such plan to which the Borrower is required to contribute on behalf of its employees. Property shall mean any interest in any kind of property or asset, whether real, personal or mixed, tangible or intangible. Quarterly Unaudited Financial Statements shall mean quarterly financial statements which statements shall include a balance sheet as of the end of such period and an income statement for such period, and for the fiscal year to date, subject to normal end of period adjustments, all setting forth in comparative form the corresponding figures for the corresponding month of the preceding year, prepared in accordance with Generally Accepted Accounting Principles and certified by the president or chief financial officer of such Person as being true and correct and fairly reflecting the financial position of such Person as of the date thereof and the results of its operations for the period covered thereby.
Permitted Investment Securities means (a) Government Securities, (b) certificates of deposit, commercial paper and short term debt instruments that are readily convertible to cash and (c) freely tradeable debt securities with a debt rating no lower than A granted by S&P or A2 granted by Xxxxx’x for so long as such ratings are maintained.
Permitted Investment Securities means (a) readily marketable securities issued or fully guaranteed by the United States of America or the Commonwealth of Australia; (b) commercial paper rated “Prime 1” by Xxxxx’x Investors Service, Inc. or “A 1” by Standard and Poor’s Ratings Group, with maturities of not more than 180 days; (c) certificates of deposit or repurchase certificates issued by financial institutions acceptable to the Lender, all of the foregoing not having a maturity of more than one year from the date of issuance thereof; (d) securities received in settlement of liabilities created in the ordinary course of business; and (e) money market mutual funds with a right of redemption on a daily basis and having assets of at least $500,000,000, substantially all of which assets consist of investments of a type described in the foregoing clauses.
Permitted Investment Securities means each of the following, to the extent the same is pledged as additional Collateral for the Obligations (including a control or dominion agreement from any applicable Person in favor of the Lender that is in all respects satisfactory to the Lender): (a) readily marketable, direct obligations of the United States of America or any agency or wholly owned corporation thereof which are backed by the full faith and credit of the United States, maturing within one (1) year after the date of acquisition thereof, (b) certificates of deposit, commercial paper (if rated no lower than A-1/P-1) or other short-term direct obligations of (i) JPMorgan or (ii) any other domestic financial institution having capital and surplus in excess of $5,000,000,000, maturing within six months after the date of acquisition thereof, (c) money market funds having aggregate assets in excess of $5,000,000,000, and (d) other Investments mutually agreed to in writing by the Borrower and the Lender. Permitted Liens shall have the meaning ascribed thereto in Section 7.2.
Permitted Investment Securities means (a) readily marketable securities issued or fully guaranteed by the United States of America, (b) commercial paper rated "Prime 1" by Moody's Investors Sxxxxxx with maturities of not more than 180 days, (c) certificates of deposit or repurchase certificates issued by banks acceptable to Bank, none of which having a maturity of more than one (1) year from the date of issuance thereof, and (d) securities received in settlement of liabilities created in the ordinary course of business.
Permitted Investment Securities means: (1) readily marketable securities issued or fully guaranteed by the United States of America; (2) commercial paper rated "Prime 1" by Moody's Investors Service, Inc., or A-1 by Standard and Poor's Bxxxxxxx with maturities of not more than one hundred eighty (180) days; (3) mutual funds acceptable to the Lender; (4) certificates of deposit or repurchase contracts with financial institutions acceptable to the Lender on terms satisfactory to the Lender, all of the foregoing not having a maturity of more than one (1) year from the date of issuance thereof; and (5) readily marketable securities received in settlement of liabilities created in the ordinary course of business. Person shall mean any individual, business entity, trust, unincorporated organization, governmental authority, or any other form of entity. Plan shall mean any plan subject to Title IV of ERISA and maintained for employees of the Borrower or of any member of a "controlled group of corporations", as such term is defined in the Code, of which the Borrower is a part, or any such plan to which the Borrower is required to contribute on behalf of its employees. Property shall mean any interest in any kind of property or asset, whether real, personal or mixed, tangible or intangible. Subsidiary shall mean, as to a particular parent business entity, any business entity of which fifty percent (50%) or more of the indicia of equity rights (whether outstanding capital stock or otherwise) is at the time directly or indirectly owned by such parent business entity, or by one or more of its Affiliates.