Credit Worthy definition

Credit Worthy means that such Affiliate's has a net worth equal to not less than $5,000,000.00. Landlord agrees to release Tenant from all obligations under this Lease in the event the obligations of Tenant under this Lease are assumed under the provisions of the preceding sentence by a corporation whose Landlord acknowledges that Tenant's business to be conducted on the Premises requires the installation on the Premise of certain communications equipment by certain licensees and customers of Tenant (collectively, "Customers") in order for such Customers to interconnect with Tenant's terminal facilities or to permit Tenant to manage or operate such Customers' equipment, or otherwise as may be required pursuant to applicable statures and regulations. Notwithstanding anything to the contrary in this Lease, Landlord hereby consents in advance to any sublease, license agreement, co-location agreement or similar agreement (collectively, "Customer License") between Tenant and such a Customer for the limited purpose of permitting such arrangements as described above. Any and all of the transactions permitted under this Section 6.2 shall not constitute an assignment, subletting or other transaction requiring the consent of Landlord under the provisions of this Section 6.2 and shall not be subject to any of the other provisions of this Section 6.2. Notwithstanding the provisions of this Section 6.2, Landlord shall not unreasonably withhold its consent in connection with an assignment of this Lease or a subletting of all or any portion of the Premises to a qualified third party if (i) rent is to be at not less than the then market rate for comparable space within the Building, (ii) Landlord receives evidence satisfactory to Landlord that such proposed third-party is "Creditworthy" (as defined above), (iii) Landlord receives evidence satisfactory to Landlord that the proposed subtenant or assignee will immediately occupy and thereafter use the Premises, or applicable portion thereof, in accordance with the Permitted Use for the remainder of the Lease Term, or for the entire term of any sublease, if such expires prior to the expiration of the Lease Term, and (iv) the occupancy of the Premises, or applicable portion thereof, by the proposed third-party would not increase fire hazards, require substantial alterations to the Premises, or applicable portions thereof, reduce the rental value of rentable space within the Building, or adversely affect the reputation and image of the Build...
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Credit Worthy means a tenant which (a) is currently, or has been, a tenant at the Property, the CPR Property or the MPR Property (other than any tenant which has materially breached its lease, is insolvent or is subject to a bankruptcy or creditor's rights proceeding, or had a history of significant arrears), (ii) is listed on Exhibit 1.1.25 hereto, or (iii) otherwise satisfies customary financial criteria required by landlords of similar retail shopping centers.
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Credit Worthy means, with respect to any Person that is an assignee of obligations under this Agreement or a transferee of any Company Securities, that the risk (financial or otherwise) that such Person will not satisfy such obligations or the obligations associated with such Company Securities is no greater than the comparable risk associated with the assignor or transferor, as the case may be.
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Examples of Credit Worthy in a sentence

  • Long-Run Benefits of Expansionary Fiscal Policy by Credit- Worthy Sovereigns: HysteresisIn recent testimonies and speeches, Fed Chair Ben Bernanke and Vice-Chair Janet Yellen have warned that the longer the economy operates below potential, with an elevated unemployment rate, the greater the danger that a cyclical unemployment problem becomes a structural one.

  • Short-Run Benefits of Expansionary Fiscal Policy by Credit- Worthy Sovereigns: MultipliersThe problems of the North Atlantic economies are twofold: first, the presence of an extraordinary amount of economic waste in the form of idle resources, both labor and capital; second, these economies are failing to prepare for the shift of resources into larger old-age pensions and more medical care that the combination of population aging and evolving technology will bring.

  • Edison asserts that the sales forecast should not becontroversial because Edison will ultimately recover neither more nor less than its recorded costs.Table 4Generation-Related Dedicated Rate ComponentsLine No.Generation-Related Rate ComponentNon "Credit Worthy" Dedicated Rate c/kWh"Credit Worthy" Dedicated Rate c/kWhBalancing Account Mechanism1.

  • It allows users to interact with dispersed individuals who share similar expe- riences or topics of interest.

  • All Credit requests must be made via written notice to Infinidat support, with a copy to xxxxxxxxxxxx@xxxxxxxxx.xxx, within fifteen (15) days of the Credit Worthy Event.

  • Applicants must be Credit Worthy and able to qualify for a first mortgage through a Participating Lender, Applicants obtaining a 203K Streamline loan MUST attend My Home II 203K workshop, sponsored by My Home II Program.

  • If Infinidat, due to circumstances within its control, fails to meet its Support SLA objectives in any given month, you will be entitled to the following credits: Credit Credit Worthy Event First Instance Second Instance Third Instance Priority A Error 10% 20% 30% Priority B Error 5% 10% 20% Priority C Error 2% 5% 10% The forgoing Credits are your sole and exclusive remedy for our failure to achieve its Support SLA objective.

  • Within each origination channel, the loans are divided into sub-groups of credit types such as Credit Worthy Co-signer (“CWC”), Credit Worthy Student (“CWS”), Credit Ready (“CR”), and Pre-College student loans made to parents (“K-12”).

  • Applicants must be Credit Worthy and able to qualify for a first mortgage through a Participating Lender.

  • The notice must include Customer name and a description of the Credit Worthy Event.


More Definitions of Credit Worthy

Credit Worthy means the condition of an applicant who has been deemed able to repayan educational loan based upon an evaluation of the applicant's credit history.
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Credit Worthy means a legal or natural person that (i) is, and will be after giving effect to the relevant assignment will be, solvent and (ii) is not subject at the time of such assignment to any order, decree or petition providing for the winding-up or liquidation of such person, the appointment of a receiver over the whole or part of the assets of such person or the bankruptcy or administration of such person. For the purposes of this definition, “solvent” means with respect to such legal or natural person as on any date of determination, that as of such date, (i) the value of the assets of such person is greater than the total amount of actual liabilities of such person and (ii) such person is able to pay all liabilities of such person as such liabilities mature;
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Credit Worthy means that Purchaser (i) is a publicly traded corporation on a major stock exchange and has a market capitalization in excess of one billion U.S. dollars (or equivalent); (ii) has total revenue for its last four fiscal quarters in excess of one billion U.S. dollars (or equivalent); and (iii) has a corporate credit rating of at least “A” (low risk) or equivalent from Xxxxx’x, S & P or other recognized credit rating agency.
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Credit Worthy means an individual or entity having a net worth equal to or greater than Lessee. No subletting shall relieve Lessee of its obligations hereunder, and Lessee shall continue to be liable as a principal and not as a guarantor or surety, to the same extent as though no sublease had been made. In the event of a sublease executed by the Lessee, such sublease shall contain a provision whereby in the event of a termination of this Lease, Lessor shall have the right to terminate said sublease, in which event all rights and interests of the subtenant shall automatically cease and terminate.
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Credit Worthy means that an assignee or transferee has assets and creditworthiness equal to or higher than those of the assigning Party as of the date the Assigning Party entered into this Agreement.
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Related to Credit Worthy

  • 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.

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

  • 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.

  • 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.

  • Standard Letter of Credit Practice means, for Issuing Bank, any domestic or foreign law or letter of credit practices applicable in the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit.

  • 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.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • 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.

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • 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.

  • 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.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Letter of Credit Bank means any Person who has provided a Servicer Letter of Credit pursuant to Section 4.02(b).

  • 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.

  • Letter of Credit Report means a certificate substantially the form of Exhibit H or any other form approved by the Administrative Agent.

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

  • 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.

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Letter of Credit Reimbursement Agreement has the meaning specified in Section 2.4(e).

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • Letter of Credit Exposure means, with respect to any Lender, at any time, the sum of (a) the Dollar Equivalent amount of the principal amount of any Unpaid Drawings in respect of which such Lender has made (or is required to have made) payments to the Letter of Credit Issuer pursuant to Section 3.4(a) at such time and (b) such Lender’s Revolving Credit Commitment Percentage of the Letters of Credit Outstanding at such time (excluding the portion thereof consisting of Unpaid Drawings in respect of which the Lenders have made (or are required to have made) payments to the Letter of Credit Issuer pursuant to Section 3.4(a)).

  • Letter of Credit Agreement has the meaning specified in Section 2.03(a).

  • Standby LC Exposure means, at any time, the sum of (a) the aggregate undrawn amount of all standby Letters of Credit outstanding at such time plus (b) the aggregate amount of all LC Disbursements relating to standby Letters of Credit that have not yet been reimbursed by or on behalf of the Borrowers at such time. The Standby LC Exposure of any Revolving Lender at any time shall be its Applicable Percentage of the aggregate Standby LC Exposure at such time.