Credit Standards shall have the meaning set forth on Exhibit "J" hereto.
Credit Standards means, with respect to any Person, that such Person has a long term issuer rating of at least *** by Standard and Poor’s Rating Group (S&P) or at least *** by Xxxxx’x Investors Service, Inc. (or, if either entity changes its rating system, the comparable rating under such changed system), or equivalent ratings from another ratings agency that is classified as a nationally recognized statistical ratings organization by the US Securities & Exchange Commission if S&P or Xxxxx’x ceases to exist or to issue credit ratings, and in any case, as applicable, with a stable or better outlook; provided, however, that if such Person is rated differently by multiple agencies, the lowest rating shall be used in making such determination.
Credit Standards means, with respect to any Person, that (a) such Person’s long-term unsecured debt securities are (i) rated at least BBB- by Standard and Poor’s Rating Group (or, if such entity changes its rating system, the comparable rating under such changed system) or at least Baa3 by Xxxxx’x Investors Services, Inc. (or, if such entity changes its rating system, the comparable rating under such changed system), in each case with stable outlook or, in the case of a potential Transferee under Section 3.6, if either of such rating agencies is no longer in business or no longer is rating such indebtedness of such Person or its guarantor, a comparable rating of another internationally recognized rating agency selected by the Non-Transferring Member(s) and (ii) not rated below either BBB- by Standard and Poor’s Rating Group (or, if such entity changes its rating system, the comparable rating under such changed system) or below Baa3 by Xxxxx’x Investors Services, Inc. (or, if such entity changes its rating system, the comparable rating under such changed system); and (b) the sum of such Person’s financial commitments with respect to the Company is less than 15% of such Person’s tangible net worth. For this purpose, the term “tangible net worth” shall mean a Person’s net equity less goodwill, patents, unamortized loan costs or restructuring costs and other intangible assets, all determined in accordance with GAAP as of the end of the most recent fiscal quarter for such Person.
Examples of Credit Standards in a sentence
In managing, administering, servicing and making collections on the Pledged Loans pursuant to this Indenture, the Servicer will exercise that degree of skill and care consistent with Customary Practices and the Credit Standards and Collection Policies.
The Servicer will comply in all material respects with the Credit Standards and Collection Policies and Customary Practices with respect to each Pledged Loan.
The Servicer will not make any change in the Credit Standards and Collection Policies or deviate from the exercise of Customary Practices, which change or deviation would materially impair the value or collectibility of any Pledged Loan.
Comply in all material respects with the Credit Standards and Collection Policies and Customary Practices in regard to each Pledged Loan and the related Pledged Assets.
The terms of any program involving variances from the Bank's general Credit Standards or changes in the terms of the Bank's agreement with any person who holds a Credit Card, including (without limitation) fees or other charges to be paid by either party, shall be agreed on a program-by-program basis.
More Definitions of Credit Standards
Credit Standards shall have the meaning set forth in Section 2.7.
Credit Standards means, with respect to any Person, that (a) such Person’s long-term unsecured debt securities are rated at least BBB- by Standard and Poor’s Rating Group or at least Baa3 by Xxxxx’x Investors Service, Inc. (or the comparable rating if either such rating agency changes its ratings system), in each case with stable outlook (“Investment Grade”); or (b) if such Person’s long-term unsecured debt securities are rated below Investment Grade or such Person is not rated by either such rating agency, (i) in the case of a Transferee, the product of (A) such Transferee’s Membership Interest and (B) the Company’s tangible net worth is less than 15% of such Transferee’s tangible net worth; or (ii) in the case of any other Person, such Person’s financial commitments under contracts with the Company are less than 5% of such Person’s tangible net worth. For this purpose, the term “tangible net worth” shall mean a Person’s net equity less goodwill, patents, unamortized loan costs or restructuring costs and other intangible assets, all determined in accordance with GAAP as of the end of the most recent fiscal quarter for such Person.
Credit Standards shall have the meaning set forth in Section 6.8.
Credit Standards means evidence of business solvency verified through a third- party credit and reporting agency or data analytics compliant with applicable federal credit reporting requirements.
Credit Standards means, as to any Person, that such Person (i) is acceptable to the appropriate internal committees of the Owner Participant with respect to limitations on total credit exposure to such Person and limitations on total credit exposure to the country (other than the United States) in which such Person is located, (ii) is acceptable to the Owner Participant based upon the then-existing credit policies or practices of the appropriate internal committees of the Owner Participant, and (iii) except in the case of a bankruptcy or similar proceeding in which the Owner Participant is the debtor, is not engaged in material litigation with the Owner Participant or any of its Affiliates.
Credit Standards means each of the following, as reflected in audited financial statements (which include an unqualified certification by a licensed certified pubic accountant reasonably acceptable to Landlord) provided to Landlord: (a) a tangible net worth of at least One Hundred Eighty Million Dollars ($180,000,000); (b) a ratio of current assets to current liabilities of at least 1.75:1; (c) unencumbered and unrestricted cash and cash equivalents of the greater of One Hundred Million Dollars ($100,000,000) or five percent (5%) of Tenant’s total assets; (d) a ratio of debt to equity (on an historic cost basis) not in excess of 2:1; and (e) no operating losses (exclusive of losses due to acquisitions) for the prior two (2) years (combined operations of pre-existing entities). Notwithstanding any such assignment, the original Tenant shall remain liable for performance and compliance with all of the terms, conditions and provisions of this Lease. After a Permitted Transfer, the surviving entity shall promptly execute and deliver to Landlord an agreement in form reasonably satisfactory to Landlord under which such surviving entity assumes the obligations of Tenant hereunder. If, after a Permitted Transfer described in clause (2) above, the stock of the surviving Tenant is no longer publicly traded, then the acquiring corporation in such Permitted Transfer (the “Acquiring Entity”) shall promptly execute and deliver to Landlord a guaranty of lease in form reasonably satisfactory to Landlord under which the Acquiring Entity guarantees the full payment and performance of the obligations of Tenant under this Lease (the “Lease Guaranty”). The foregoing notwithstanding, if the Acquiring Entity is itself not a publicly-traded corporation, but is instead the subsidiary of a publicly-traded corporation (or a subsidiary in a chain of entities in which a parent corporation is publicly traded), then the publicly-traded parent corporation shall be required to execute and deliver to Landlord the Lease Guaranty. In addition, if after such acquisition Tenant no longer prepares audited financial statements, then in addition to the financial statements required to be delivered by Tenant hereunder, the entity required to execute the Lease Guaranty shall provide Landlord its audited financial statements at the times and in the manner required of Tenant hereunder. It is the intent of the parties that after a Permitted Transfer, Landlord shall be entitled to rely on the creditworthiness of a publi...
Credit Standards means, with respect to any Person, such Person or such Person’s Parent has outstanding long-term unsecured debt securities that are rated at least BBB- by Standard and Poor’s Rating Group or at least Baa3 by Xxxxx’x Investors Service, Inc. (or, if either entity changes its rating system, the comparable rating under such changed system), and in either case, as applicable, with a stable or better outlook; provided, that if such Person or its Parent has outstanding long-term unsecured debt securities that are rated by both Standard and Poor’s Rating Group and Xxxxx’x Investors Service, Inc., such ratings cannot be below BBB- and Baa3, respectively; provided further, that if such Person or its Parent is a Fund that is a potential Transferee under Section 3.6 and such Person or its Parent does not have outstanding rated long- term unsecured debt securities, then such Person or its Parent has a tangible net worth, bona fide capital commitments, fair market value of investments or other assets over which such Person or its Parent has supervisory control, as applicable, in excess of two billion dollars ($2,000,000,000) and the sum of such Person’s financial commitments with respect to the Company is less than fifteen percent (15%) of such Person’s tangible net worth, bona fide capital commitments, fair market value of investments or other assets over which such Person has supervisory control.