Acceptable Issuing Bank definition

Acceptable Issuing Bank means a United States commercial bank or a foreign bank with a United States branch, which United States commercial bank or United States branch has at the applicable time a Credit Rating of (a) A- or better from Standard & Poor’s Rating Services and (b) A3 or better from Moody’s Investors Service, Inc.
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Acceptable Issuing Bank means a bank or other financial institution reasonably acceptable to the Collateral Agent (i) whose long-term senior unsecured debt is rated at least A- by Standard & Poor’s and A3 by Moody’s and (ii) that has a capital, surplus and undivided profits of at least $1,000,000,000.
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Acceptable Issuing Bank means any United States commercial bank or financial institution having a long-term unsecured senior debt rating of at least two of the following: A3 or better by Xxxxx’x, A- or better by S&P or A- or better by Fitch.
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Examples of Acceptable Issuing Bank in a sentence

  • The bank issuing the Letter of Credit (the “Bank”) shall be subject to Landlord’s prior written approval, which approval shall not be withheld by Landlord if the proposed Bank is an Acceptable Issuing Bank.

  • As of the Lease Reference Date, subject to the remainder of this Section 8.3, Square 1 Bank is an Acceptable Issuing Bank.

  • If any Issuing Bank ceases to be an Acceptable Issuing Bank, such Issuing Bank promptly (in no event later than two (2) Business Days) notify the Company thereof.

  • The bank issuing the Letter of Credit (the “Bank”) shall be subject to Sublessor’s prior written approval, which approval shall not be withheld by Sublessor if the proposed Bank is an Acceptable Issuing Bank.

  • In addition, the form and terms of the Letter of Credit and the bank issuing the same (the “Bank”) shall be subject to Landlord’s prior approval, which approval shall not be withheld by Landlord if the proposed Bank is an Acceptable Issuing Bank.

  • Landlord hereby approves Silicon Valley Bank as an Acceptable Issuing Bank.

  • If at any time following issuance of the Letter of Credit the issuer of the Letter of Credit is no longer an Acceptable Issuing Bank, then Settling Supplier shall within fifteen (15) Business Days after receipt of written notice from the California Parties cause the issuance of a replacement Letter of Credit issued by an Acceptable Issuing Bank substantially in the form appended hereto as Exhibit D or such other form as may be acceptable to the California Parties in their reasonable judgment.

  • Sublessor hereby approves Silicon Valley Bank as an Acceptable Issuing Bank.

  • Buyer will, to the extent acceptable to and required by the beneficiary of the Sponsor Letters of Credit, replace the Sponsor Letters of Credit with one or more comparable letters of credit issued by JPMorgan Chase Bank, N.A., Xxxxx Fargo Bank, National Association, Citibank, N.A., or a comparable U.S. bank (“ Acceptable Issuing Bank ”) or otherwise provide substitute credit support in a form acceptable to the beneficiary at or contemporaneously with the Closing.


More Definitions of Acceptable Issuing Bank

Acceptable Issuing Bank a bank or trust company authorized to engage in the banking business having the equivalent thereof whose long-term unsecured debt is rated “A-” or higher by S&P or “A3” or higher by Xxxxx’x or, if both of such rating agencies are no longer in business or no longer rating unsecured debt of banks or trust companies, a comparable rating of another internationally recognized rating agency selected by the Company.
Sample 1
Acceptable Issuing Bank means a United States commercial bank having, at the time of such issuance ratings of at least “A-” by Standard & Poor’s and at least “A3” by Xxxxx’x Investor Services, Inc. and capital, surplus and undivided profits in excess of $10,000,000,000.
Sample 1

Related to Acceptable Issuing Bank

  • Fronting Bank means each Lender identified as a “Fronting Bank” on Schedule II and any other Lender (in each case, acting directly or through an Affiliate) that delivers an instrument in form and substance satisfactory to the Borrowers and the Administrative Agent whereby such other Lender (or its Affiliate) agrees to act as “Fronting Bank” hereunder and that specifies the maximum aggregate Stated Amount of Letters of Credit that such other Lender (or its Affiliates) will agree to issue hereunder.

  • Issuing Bank means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • LC Issuing Bank means each Lender identified as an “LC Issuing Bank” on Schedule II and any other Lender or Affiliate of a Lender that shall agree to issue a Letter of Credit pursuant to Section 2.04.

  • U.S. Issuing Bank means an Issuing Bank that has agreed to issue U.S. Letters of Credit.

  • Acceptable Bank means (a) a bank or financial institution which has a rating for its long-term unsecured and non credit-enhanced debt obligations of A- or higher by S&P or A2 or higher by Moody's or a comparable rating from an internationally recognized credit rating agency; or (b) any other bank or financial institution approved by each Agent.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • LC Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • Issuing Banks means (a) with respect to the Letter of Credit A Facility, each Initial Issuing Bank that has a Letter of Credit A Commitment set forth opposite its name on Schedule I hereto and any other Working Capital A Lender approved as an Issuing Bank by the Agent and, so long as no Default shall have occurred and be continuing, by Crompton Corp. (such approval not to be unreasonably withheld or delayed) and each Eligible Assignee to which a Letter of Credit A Commitment hereunder has been assigned pursuant to Section 8.07 and (b) with respect to the Letter of Credit B-1 Facility, each Initial Issuing Bank that has a Letter of Credit B-1 Commitment set forth opposite its name on Schedule I hereto and any other Working Capital B-1 Lender approved as an Issuing Bank by the Agent and, so long as no Default shall have occurred and be continuing, by Crompton Corp. (such approval not to be unreasonably withheld or delayed) and each Eligible Assignee to which a Letter of Credit B-1 Commitment hereunder has been assigned pursuant to Section 8.07 so long as, in each case, each such Lender or Eligible Assignee expressly agrees to perform in accordance with their terms all of the obligations that by the terms of this Agreement are required to be performed by it as an Issuing Bank and notifies the Agent of its Applicable Lending Office and the amount of its Letter of Credit Commitment (which information shall be recorded by the Agent in the Register).

  • Issuing Lender means WFCF or any other Lender that, at the request of Borrower and with the consent of Agent, agrees, in such Lender’s sole discretion, to become an Issuing Lender for the purpose of issuing Letters of Credit or Reimbursement Undertakings pursuant to Section 2.11 of the Agreement and the Issuing Lender shall be a Lender.

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but in each instance on behalf of the Lenders hereunder.

  • Administrative Agent’s Letter shall have the meaning specified in Section 10.9 [Administrative Agent’s Fee].

  • Issuing Lenders means all such Persons, collectively.

  • Revolving Agent means the collateral agent (or the administrative agent acting as collateral agent) under any Revolving Credit Agreement, and its successors and assigns in such capacity and, from and after the execution of a Revolving Credit Substitute Facility, one or more other agents, collateral agents, trustees or similar contractual representatives for one or more holders of indebtedness or other Obligations evidenced thereunder or governed thereby and its successors and assigns in such capacity, but in no event shall any Obligor or Affiliate thereof be, or appoint, the Revolving Agent.

  • L/C Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • Administrative Agent’s Fee Letter means that certain letter agreement, dated as of July 28, 2010, among the Administrative Agent, Banc of America Securities LLC, the Borrower and the Parent, as amended, modified, restated or supplemented from time to time.

  • Initial Issuing Bank has the meaning specified in the recital of parties to this Agreement.

  • Revolving Administrative Agent has the meaning assigned to such term in the preamble of this Agreement.

  • Letter of Credit Issuer means such successor or such new issuer of Letters of Credit effective upon such appointment. At the time such resignation or replacement shall become effective, the Borrower shall pay to the resigning or replaced Letter of Credit Issuer all accrued and unpaid fees pursuant to Sections 4.1(c) and 4.1(d). The acceptance of any appointment as a Letter of Credit Issuer hereunder whether as a successor issuer or new issuer of Letters of Credit in accordance with this Agreement, shall be evidenced by an agreement entered into by such new or successor issuer of Letters of Credit, in a form satisfactory to the Borrower and the Administrative Agent and, from and after the effective date of such agreement, such new or successor issuer of Letters of Credit shall become a “Letter of Credit Issuer” hereunder. After the resignation or replacement of a Letter of Credit Issuer hereunder, the resigning or replaced Letter of Credit Issuer shall remain a party hereto and shall continue to have all the rights and obligations of a Letter of Credit Issuer under this Agreement and the other Credit Documents with respect to Letters of Credit issued by it prior to such resignation or replacement, but shall not be required to issue additional Letters of Credit. In connection with any resignation or replacement pursuant to this clause (a) (but, in case of any such resignation, only to the extent that a successor issuer of Letters of Credit shall have been appointed), either (i) the Borrower, the resigning or replaced Letter of Credit Issuer and the successor issuer of Letters of Credit shall arrange to have any outstanding Letters of Credit issued by the resigning or replaced Letter of Credit Issuer replaced with Letters of Credit issued by the successor issuer of Letters of Credit or (ii) the Borrower shall cause the successor issuer of Letters of Credit, if such successor issuer is reasonably satisfactory to the replaced or resigning Letter of Credit Issuer, to issue “back-stop” Letters of Credit naming the resigning or replaced Letter of Credit Issuer as beneficiary for each outstanding Letter of Credit issued by the resigning or replaced Letter of Credit Issuer, which new Letters of Credit shall be denominated in the same currency as, and shall have a face amount equal to, the Letters of Credit being back-stopped and the sole requirement for drawing on such new Letters of Credit shall be a drawing on the corresponding back-stopped Letters of Credit. After any resigning or replaced Letter of Credit Issuer’s resignation or replacement as Letter of Credit Issuer, the provisions of this Agreement relating to a Letter of Credit Issuer shall inure to its benefit as to any actions taken or omitted to be taken by it (A) while it was a Letter of Credit Issuer under this Agreement or (B) at any time with respect to Letters of Credit issued by such Letter of Credit Issuer.

  • L/C Lender a Lender with an L/C Commitment.

  • Administrative Agent’s Fee shall have the meaning specified in Section 10.9 [Administrative Agent’s Fee].

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • Replacement Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Administrative Agent Account an account designated by the Administrative Agent from time to time.

  • Acceptable Counterparty means any counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of at least “A+” by S&P and “Aa3” from Xxxxx’x, which rating shall not include a “t” or otherwise reflect a termination risk and is otherwise reasonably acceptable to Lender.

  • Issuing Lender Fees shall have the meaning set forth in Section 2.5(c).

  • Credit Facility Agent means that certain agent, in its capacity as arranger and administrative agent under the Credit Agreement or any replacement or successor agent under the Credit Agreement.