Approved Counterparty definition

Approved Counterparty means (a) any Lender or any Affiliate of a Lender and (b) any other Person whose long term senior unsecured debt rating is A-/A3 by S&P or ▇▇▇▇▇’▇ (or their equivalent) or higher.

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Approved Counterparty means, at any time and from time to time, (i) any Person engaged in the business of writing Swap Agreements for commodity, interest rate or currency risk that is acceptable to the Administrative Agent and has (or the credit support provider of such Person has), at the time Borrower or any Restricted Subsidiary enters into a Swap Agreement with such Person, a long term senior unsecured debt credit rating of BBB+ or better from S&P or Baa1 or better from ▇▇▇▇▇’▇ and (ii) any Lender Counterparty.

Approved Counterparty means any Person who, with respect to a Swap Agreement, is (a) a Secured Swap Party, or (b) any other Person whose issuer rating or long term senior unsecured debt ratings at the time of entry into such Swap Agreement is A-/A3 by S&P or ▇▇▇▇▇’▇ (or their equivalent) or higher (or whose obligations under the applicable Swap Agreement are guaranteed by an Affiliate of such Person meeting such rating standards).

Examples of Approved Counterparty in a sentence

Each Approved Counterparty signing this Agreement as a Lender hereby agrees to be bound by the provisions of this Agreement and the Loan Documents in such Lender’s capacity both as a Lender and as an Approved Counterparty.
Each Approved Counterparty that has not signed or otherwise joined this Agreement in writing to Administrative Agent’s reasonable satisfaction shall, as a condition precedent to being an Approved Counterparty or Secured Party in respect of the Collateral, execute Secured Swap Intercreditor Agreement, acknowledging and agreeing to be bound by the terms and conditions of the Loan Documents applicable thereto, including, without limitation, this Section 10.12, in the form attached hereto as Exhibit J.
Each Approved Counterparty hereby acknowledges and agrees that it has received and reviewed the Loan Documents.
Each Approved Counterparty agrees that while it may have the right to terminate or unwind one or more transactions under any Secured Swap Contract entered into by such Approved Counterparty in respect of a Termination Event, only Administrative Agent shall have the right to enforce the remedies provided by the Loan Documents (or otherwise pursue remedies or recourse against the Collateral) arising from such Termination Event under such Secured Swap Contract entered into by such Approved Counterparty.
If an Approved Counterparty sends any such notice in respect of any Loan Party’s default under any Secured Swap Contract to Administrative Agent, then such Approved Counterparty agrees to send notice to Administrative Agent in the event such Loan Party cures said default.

More Definitions of Approved Counterparty

Approved Counterparty means (a) the Administrative Agent, any Lender or any Affiliate of the Administrative Agent or a Lender, or (b) any other Person whose long term senior unsecured debt rating at the time of entry into the applicable Swap Agreement is A-/A3 by S&P or ▇▇▇▇▇’▇ (or their equivalent) or higher.

Approved Counterparty means a counterparty to a Hedging Contract that at the time of entering into such Hedging Contract either (a) is an Approved Counterparty (as defined in the First Lien Credit Agreement), (b) any Lender or any Affiliate of Lender, (c) is a Person whose senior unsecured long-term debt obligations are rated A or higher by S&P and A3 or higher by ▇▇▇▇▇’▇, or (d) Shell Oil Trading (US) Company.

Approved Counterparty means a bank or other financial institution which has (a) either (i) a long-term unsecured debt rating of “A+” or higher by S&P or (ii) if the long-term unsecured debt rating is “A” or lower by S&P, a short-term rating of not less than “A-1” from S&P; (b) a long-term unsecured debt rating of not less than “Aa3” by ▇▇▇▇▇’▇; and (c) if the counterparty is rated by Fitch, either a long-term unsecured debt rating of not less than “A” from Fitch or a short-term unsecured debt rating of not less than “F-1” from Fitch.

Approved Counterparty means (i) any Agent, Lender or any Affiliate of an Agent or Lender at the time (or after) it entered into a Swap Contract or a Treasury Services Agreement, as applicable, in its capacity as a party thereto, notwithstanding whether such Approved Counterparty may cease to be an Agent, Lender or an Affiliate of an Agent or Lender thereafter, as applicable and (ii) any other Person from time to time approved in writing by the Administrative Agent (not to be unreasonably withheld, delayed or conditioned).

Approved Counterparty means a counterparty to a Swap Agreement that at the time of entering into such Swap Agreement either (a) is a Secured Swap Provider, (b) is a Person whose senior unsecured long-term debt obligations are rated A or higher by S&P and A3 or higher by ▇▇▇▇▇’▇, (c) Shell Oil Trading (US) Company, Shell Trading Risk Management LLC and their Affiliates, or (d) any other counterparty reasonably acceptable to the Administrative Agent.

Approved Counterparty means (i) any Agent, Lender or any Affiliate of an Agent or Lender (a) at the time it entered into a Swap Contract or a Treasury Services Agreement, as applicable, in its capacity as a party thereto, (b) with respect to a Swap Contract or a Treasury Services Agreement in effect as of the Closing Date, as of the Closing Date, as applicable, in its capacity as a party thereto, and in the case of (a) or (b) notwithstanding whether such Approved Counterparty may cease to be an Agent, Lender or an Affiliate of an Agent or Lender thereafter, as applicable and (ii) any other Person from time to time approved in writing by the Administrative Agent (not to be unreasonably withheld, delayed or conditioned).

Approved Counterparty means (a) each counterparty listed on Schedule 1.01G, (b) any Agent, Lender or any Affiliate of an Agent or Lender at the time it entered into a Secured Hedge Agreement or a Treasury Services Agreement, as applicable, in its capacity as a party thereto, (c) any other Person whose long term senior unsecured debt rating is A/A2 by S&P or ▇▇▇▇▇’▇ (or their equivalent) or higher or (d) any other Person from time to time approved in writing by the Administrative Agent.