Credit Obligor definition

Credit Obligor means the issuer of such Substitute Letter of Credit. Credit Obligor Indebtedness shall mean all indebtedness or obligations of --------------------------- the Users to the Credit Obliger under the Credit Documents including without limitation (i) the Users' obligation to reimburse the Credit Obliger for draws made under the Letter of Credit and (ii) the Users' obligation to pay fees and charges for the issuance and continuation of the Letter of Credit. Credit Obligor Insolvency Date shall mean the date on which the Credit ------------------------------ Obliger notifies the Trustee in writing or the date on which the Trustee is notified in writing by the Issuer, the Users, or any Governmental Authority, that (i) a receiver or conservator of the Credit Obligor or of any of the respective properties or assets thereof shall have been appointed by any Governmental Authority, or (ii) possession of the property and business of the Credit Obligor shall have been taken by any Governmental Authority, or (iii) the Credit Obliger shall have taken advantage of any reorganization, liquidation or dissolution law or statute or if corporate action shall have been taken by the Credit Obliger for the purpose of effecting any of the foregoing. Debt Service shall mean the principal of, premium (if any) and interest ------------ payable on the Bonds. Defaulted Interest shall have the meaning stated in Section 5.04. ------------------ Determination of Taxability shall mean, and shall occur when, (i) the --------------------------- Trustee receives written notice from the Users, supported by an Opinion of Bond Counsel, that interest on the Bonds is Taxable or (ii) the Internal Revenue Service shall claim in writing that interest on the Bonds is Taxable; provided, that such a claim shall not be deemed a Determination of Taxability unless the Users are afforded reasonable opportunity (at their sole expense and for a period not to exceed 2 years) to pursue any judicial or administrative remedy available to the Users with respect to such claim and avail themselves of such opportunity by appropriate proceedings diligently pursued. Direct Participant or Direct Participant means securities brokers and ------------------ ------------------ dealers, banks, trust companies and clearing corporations which have access to the Book-Entry System. Event of Default shall have the meaning stated in Article XII. An Event of ---------------- Default shall "exist" if an Event of Default shall have o...
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Credit Obligor means individually and “Credit Obligors” means collectively, Holdings, the Borrower and the Subsidiaries that are party to any Loan Document.
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Credit Obligor means Standard Federal Bank, a federal savings bank and its successors and assigns, until a Substitute Letter of Credit shall have been accepted by the Trustee, and thereafter "Credit Obligor" means the issuer of the Substitute Letter of Credit.
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Examples of Credit Obligor in a sentence

  • Upon failure by any such other Letter of Credit Obligor to pay punctually any such amount, the Borrower shall forthwith on demand by the Administrative Agent pay the amount not so paid at the place and in the currency and otherwise in the manner specified in this Agreement or any applicable Letter of Credit Document.

  • The Issuer and the User shall have no power to modify, alter, amend or terminate this Lease Agreement without the prior written consent of the Credit Obligor.

  • Each Lender and each Letter of Credit Obligor agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document.

  • Each Letter of Credit Obligor shall pay directly to the L/C Issuer for its own account a fronting fee with respect to each Letter of Credit issued for such Letter of Credit Obligor’s account, at the rate per annum specified in the Fee Letter, computed on the daily amount available to be drawn under such Letter of Credit on a quarterly basis in arrears.

  • Each request by a Letter of Credit Obligor for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by such Letter of Credit Obligor that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence.

  • Each Letter of Credit Obligor hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude any Letter of Credit Obligor from pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement.

  • Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the L/C Issuer hereunder (to the extent not otherwise paid by another Letter of Credit Obligor) for any and all drawings under such Letter of Credit and all fees and expenses related to such Letter of Credit.

  • In the event the Guarantor should default under any of the provisions of this Agreement and the Credit Obligor should employ attorneys or incur other expenses for the collection of any payments due hereunder or the enforcement of performance or observance of any agreement or covenant on the part of the Guarantor herein contained, the Guarantor will on demand therefor pay to the Credit Obligor the reasonable fees of such attorneys and such other reasonable expenses so incurred.

  • No written statement furnished by the Guarantor to the Credit Obligor contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained therein or herein not misleading.

  • The Credit Obligor may waive any past default hereunder and its consequences.


More Definitions of Credit Obligor

Credit Obligor means National Bank of Canada, a Canadian banking institution having its principal office in New York, New York, in its role as issuer of the Letter of Credit.
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Credit Obligor means the issuer of such Substitute Letter of Credit. Credit Obligor Indebtedness shall mean all indebtedness or obligations of the User to the Credit Obligor Parties or the Lenders under the Credit Documents including without limitation (i) the User's obligation to reimburse the Credit Obligor for draws made under the Letter of Credit and (ii) the User's obligation to pay fees and charges for the issuance and continuation of the Letter of Credit. Credit Obligor Insolvency Date shall mean the date on which the Credit Obligor notifies the Trustee in writing, or the date on which the Trustee is notified in writing by the Issuer, the User, or any Governmental Authority, that (i) a receiver or conservator of the Credit Obligor or of any of the respective properties or assets thereof shall have been appointed by any Governmental Authority, or (ii) possession of the property and business of the Credit Obligor shall have been taken by any Governmental Authority, or (iii) the Credit Obligor shall have taken advantage of any reorganization, liquidation or dissolution law or statute, or (iv) if corporate action shall have been taken by the Credit Obligor for the purpose of effecting any of the foregoing.
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Credit Obligor means the issuer of such Substitute Letter of Credit. Engineer shall mean a person qualified to practice as an engineer under the -------- laws of the State, who shall be appointed by the User and acceptable to the Agent. Equipment shall have the meaning assigned in Demising Clause III. --------- Event of Default shall have the meaning assigned in Article 10. An Event ---------------- of Default shall "exist" if an Event of Default shall have occurred and be continuing. Financing Documents shall mean collectively the Bonds, Indenture, Lease ------------------- Agreement, Guaranty, Purchase Contract, and Contribution Agreement and Letter of Credit. Governmental Authority shall mean any federal, state, county, municipal, or ---------------------- other government, domestic or foreign, and any agency, authority, department, commission, bureau, board, court or other instrumentality thereof. Guaranty shall mean the Guaranty Agreement dated as of March 1, 1995 from -------- the User and CMS, Inc. Holders shall have the meaning assigned in the Indenture. ------- Improvements shall have the meaning assigned in Demising Clause II. ------------ Indenture shall mean that certain Mortgage and Indenture dated as of March --------- 1, 1995 among the Issuer, the Agent and the Holders, including any amendments or supplements to such instrument from time to time entered into pursuant to the applicable provisions hereof and thereof.
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Credit Obligor means, initially, U.S. Bank National Association, a national banking association, and upon acceptance by the AMFund Trustee of an Substitute Letter of Credit, means the provider of that Substitute Letter of Credit.
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Credit Obligor. Mortgage shall mean collectively the mortgages and security agreements with respect to the Project by the Issuer and the User to the Credit Obligor as security for the obligations of the User to the Credit Obligor under the Credit Documents.
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Related to Credit Obligor

  • Credit Obligations means all obligations of the Borrowers to the Lender Parties arising under or in connection with or in respect of the Credit Documents, whether direct or indirect, absolute or contingent, now or hereafter existing, or due or to become due.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letters of Credit Outstanding means, at any time, the sum of, without duplication, (a) the aggregate Stated Amount of all outstanding Letters of Credit and (b) the aggregate principal amount of all Unpaid Drawings in respect of all Letters of Credit.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Company Credit Facility means the Credit Agreement, dated as of March 24, 2016, as amended and restated as of December 14, 2017, as further amended and restated as of May 7, 2019, as further amended and restated as of September 11, 2019, and as further amended and restated as of November 12, 2019, by and among Centene, the various financial institutions named therein, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent, including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced or refinanced (in whole or in part) from time to time, whether or not with the same lenders or agent.

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Credit Facility Agent means the then acting Agent as defined in and under the Credit Facility or any successor thereto.

  • LC means Letter of Credit

  • Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • New Credit Facility is defined in Section 9.8.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Outstandings means, at any time, the sum of (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the amount of all Unpaid Drawings.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Tranche A Lender means a Lender with a Tranche A Commitment or an outstanding Tranche A Term Loan.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Letter of Credit Disbursement means a payment made by Issuing Lender or Underlying Issuer pursuant to a Letter of Credit.