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.

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 such Substitute Letter of Credit.

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.
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.
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 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 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 promptly examine a copy of each Letter of Credit issued for its account and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with such Letter of Credit Obligor’s instructions or other irregularity, such Letter of Credit Obligor will immediately notify the L/C Issuer.
Each Letter of Credit Obligor shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid.
Not later than 11:00 a.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), such Letter of Credit Obligor shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing.
Unless otherwise directed by the L/C Issuer, a Letter of Credit Obligor shall not be required to make a specific request to the L/C Issuer for any such extension.
Any proceeds of such title insurance shall be applied, at the direction of the Credit Obligor, to cure the title defect in respect of which such proceeds are made available or shall be deposited with the Trustee and applied to the redemption of the Bonds in accordance with the terms thereof.

More Definitions of Credit Obligor

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.

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.

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.

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.

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.