Applicable Credit definition

Applicable Credit means the meaning established in 2 CFR 200.406(a).

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Applicable Credit. Rating: For any long-term deposit or security, a credit rating of "AAA" in the case of S&P or "Aaa" in the case of Moody's (or with respect to investments in money market funds, a credit rating of "AAAm" or "AAAm-G" in the case of S&P and the highest rating given by Moody's for money market funds in the case of Moody's). For any short-term deposit or security, or a rating of "A-l+" in the case of S&P or "Prime-1" in the case of Moody's.

Applicable Credit. ” means the meaning established in 2 CFR Part 225, Appendix A, Section C(4), and 2 CFR Part 230, Appendix A, Section A(5), respectively.

Examples of Applicable Credit in a sentence

• Each Applicable Credit Party irrevocably waives any and all defenses, including any “discharge for value” (under which a creditor might otherwise claim a right to retain funds mistakenly paid by a third party in respect of a debt owed by another) or similar defense to its obligation to return any Rescindable Amount.

• With respect to Barclays: Not Applicable With respect to Counterparty: Not Applicable Credit Support Provider.

• The Administrative Agent shall inform each Applicable Credit Party promptly upon determining that any payment made to such Applicable Credit Party comprised, in whole or in part, a Rescindable Amount.

• Promptly after any senior financial or legal officer of either Credit Party obtains knowledge thereof, notice of any change in the Applicable Credit Rating assigned by either Rating Agency.

• Each Registrar shall only be entitled to a fraction of the Applicable Credit.

More Definitions of Applicable Credit

Applicable Credit. Rating: For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody's (or with respect to investments in money market funds, a credit rating of "AAAm" or "AAAm-G" in the case of S&P and the highest rating given by Moody's for money market funds in the case of Moody's). For any short-term deposit or security, or a rating of A-l+ in the case of S&P or Prime-1 in the case of Moody's. Applicable State Law: For purposes of Section 9.12(d), the Applicable State Law shall be (a) the law of the State of New York and (b) such other state law whose applicability shall have been brought to the attention of the Securities Administrator and the Trustee by either (i) an Opinion of Counsel reasonably acceptable to the Securities Administrator and the Trustee delivered to it by the Master Servicer or the Depositor, or (ii) written notice from the appropriate taxing authority as to the applicability of such state law.

Applicable Credit has the meaning specified in Section 2.06(d)(iv).

Applicable Credit. Rating: For any long-term deposit or security, a credit rating of "AAA" in the case of S&P or "Aaa" in the case of ▇▇▇▇▇'▇ (or with respect to investments in money market funds, a credit rating of "AAAm" or "AAAm-G" in the case of S&P and the highest rating given by ▇▇▇▇▇'▇ for money market funds in the case of ▇▇▇▇▇'▇). For any short-term deposit or security, or a rating of "A-l+" in the case of S&P or "Prime-1" in the case of ▇▇▇▇▇'▇.

Applicable Credit means the meaning established in OMB Circulars A-87, C (4), and A-122, Attachment A, A (5), respectively.

Applicable Credit. Rating" contained in Schedule I to the Credit Agreement is hereby amended by deleting the text "BBB-/Baa3" appearing therein and inserting the text "BB+/Ba1" in lieu thereof.

Applicable Credit means the meaning established in 2 CFR Part 225, Appendix A, Section

Applicable Credit. Rating" contained in Schedule I to the Holdings Guaranty is hereby amended by deleting the text "BBB-/Baa3" appearing therein and inserting the text "BB+/Ba1" in lieu thereof.