Alternate Credit Enhancement definition

Alternate Credit Enhancement means, with respect to a Series of Bonds, any Insurance, letter of credit, line of credit, surety bond, or other instrument, which secures, enhances, or guarantees the payment of principal of and interest on a Series of Bonds, issued by an insurance company, commercial bank, pension fund, or other institution, and delivered or made available to the Trustee, as a replacement or substitution for any Credit Enhancement then in effect.
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Alternate Credit Enhancement means an irrevocable letter of credit, a surety bond or other credit enhancement facility covering the payment of debt service on all or any part or series of Bonds.
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Alternate Credit Enhancement or "Alternate Liquidity Facility" shall mean a letter of credit, insurance policy, line of credit, surety bond, standby purchase agreement or other security or liquidity instrument, as the case may be, issued in accordance with the terms hereof as a replacement or substitute for any Credit Enhancement or Liquidity Facility, as applicable, then in effect.
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Examples of Alternate Credit Enhancement in a sentence

  • Such officers are authorized and directed to provide to the insurers and providers of Alternate Credit Enhancement such financial and other information regarding the University, including without limitation such information as appears or will appear in the POS, as they may reasonably require to reach a credit and pricing decision.

  • The Company, CIT and CITSF shall have no obligation to replenish the funds on deposit in the Alternate Credit Enhancement Account once they have been exhausted.

  • The Company may, at its election, cause the Credit Provider to provide one or more extensions of the Credit Enhancement or provide at any time for the delivery to the Trustee of Alternate Credit Enhancement, in each case in accordance with the provisions of the Indenture.

  • Reference is made to Article X of this Resolution regarding the authorization to commence negotiations for the issuance and delivery of a Policy or Alternate Credit Enhancement, as additional security for the Series 2007 Bonds.

  • The Company hereby authorizes and directs the Trustee to draw moneys under the Credit Enhancement and the Liquidity Facility and any Alternate Credit Enhancement and Alternate Liquidity Facility, as applicable, in accordance with the provisions thereof and of the Indenture.

  • The Eligible Institution maintaining the Alternate Credit Enhancement Account shall, in the name of the Trustee, invest amounts on deposit solely in the investments permitted pursuant to the Alternate Credit Enhancement Documents in accordance with the instructions provided to the Trustee by the Servicer (or by such other Person as specified in the Alternate Credit Enhancement Documents) in writing.

  • All net income and gain from investments in the Alternate Credit Enhancement Account shall be applied in accordance with the Alternate Credit Enhancement Documents.

  • The program, called “ACES” (Alternate Credit Enhancement Structure), employs an A-B-C tranche structure similar to that of the CPC proposal.

  • Except for any period during which the Bonds are in the Fixed Rate Mode, the Company shall (i) cause the Credit Provider to provide one or more extensions of the Credit Enhancement, (ii) cause the Liquidity Provider to provide one or more extensions of the Liquidity Facility, or (iii) provide at any time for the delivery to the Trustee of an Alternate Credit Enhancement or Alternate Liquidity Facility, in each case in accordance with the provisions of Section 4.8 of the Indenture.

  • The alternate form of credit enhancement may consist of cash or securities deposited by the Guarantor or any other Person in a segregated escrow, trust or collateral account or a letter of credit, certificate insurance policy or surety bond provided by a third party and delivered to or held by the Trustee or any other credit enhancement or support approved by the Rating Agencies ("Alternate Credit Enhancement").


More Definitions of Alternate Credit Enhancement

Alternate Credit Enhancement. Credit enhancement obtained by FUNB in lieu of a Letter of Credit pursuant to Section 7.05.
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Alternate Credit Enhancement. Credit enhancement obtained by The Money Store Inc. in lieu of the Limited Guaranty pursuant to Section 6.14.
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Alternate Credit Enhancement means a letter of credit, insurance policy, surety bond or security, or other credit enhancement issued as a replacement or substitute for any Credit Enhancement then in effect.
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Alternate Credit Enhancement means an agreement or arrangement pursuant to which cash or securities are deposited by CIT or any other Person in a segregated trust, escrow or collateral account pursuant to Section 5.05(b) and 8.05.
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Alternate Credit Enhancement or “Alternate Liquidity Facility” — A letter of credit, insurance policy, line of credit, surety bond, standby purchase agreement or other security or liquidity instrument, as the case may be, issued in accordance with the terms hereof as a replacement or substitute for any Credit Enhancement or Liquidity Facility, as applicable, then in effect.
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Related to Alternate Credit Enhancement

  • Credit Enhancement means, with respect to this Agreement, any credit enhancement or other credit support arrangement in support of the obligations of the Company hereunder or with respect hereto, including any guarantee, collateral arrangement (including any pledge, charge, mortgage or other security interest in collateral or title transfer arrangement), trust or similar arrangement, letter of credit, transfer of margin, reimbursement obligation or any similar arrangement.

  • Alternate Credit Facility means any irrevocable direct pay letter of credit, insurance policy or similar credit enhancement or support facility for the benefit of the Trustee, the terms of which Alternate Credit Facility shall in all respects material to the registered owners of the Bonds be the same (except for the term set forth in such Alternate Credit Facility) as those of the Letter of Credit.

  • Credit Enhancement Provider means, with respect to any Securities, any person issuing, funding or otherwise making available, for the benefit of Securityholders or any party to a Serviced Corporate Trust Contract, an asset as an enhancement of the credit quality or liquidity of any Securities or the mortgage assets or other assets pledged for or underlying such Securities, such as a letter of credit, surety bond, insurance policy, guaranty, reserve fund pledge or collateral undertaking.

  • Credit Enhancer means the Credit Enhancer identified in the Adoption Annex.

  • QFC Credit Support has the meaning specified in Section 11.21.

  • Liquidity Facility Provider means a Person that is a party to a Liquidity Facility with the Authority with respect to specified Bonds and whose credit rating by each nationally recognized Rating Agency then rating the Class I Bonds is sufficiently high to maintain the then current rating on such Bonds by such Rating Agency or the equivalent of such rating by virtue of guarantees or insurance arrangements.

  • Credit Support Instrument" "Credit Support Provider"