Eligible Credit Insurance Provider means an insurance company in the business of issuing commercial credit insurance (a) which company is not an Affiliate of the Peabody Group and (b) with respect to which, it has not had any credit rating assigned by any of Moody’s, Standard Poor’s or A.M. Best Company, Inc. to it reduced by two or more ratings “notches” since the time any Credit Insurance Policy written by such Credit Insurer became Eligible Credit Insurance hereunder; provided, that, with respect to any Credit Insurance Policy issued by multiple insurance providers, the Administrator may elect (in its sole discretion) to treat such syndicate as a single insurer and apply a weighted average credit rating.
Eligible Credit Insurance Provider means an insurance company in the business of issuing commercial credit insurance (a) which company is not an Affiliate of the EnLink Group and (b) with respect to which, it has not had any credit rating assigned by any of Moody’s, S&P’s or A.M. Best Company, Inc. to it reduced by two or more ratings “notches” since the time any Credit Insurance Policy written by such Credit Insurer became Eligible Credit Insurance hereunder; provided that, with respect to any Credit Insurance Policy issued by multiple insurance providers, the Administrative Agent may elect (in its sole discretion) to treat such syndicate as a single insurer and apply a weighted average credit rating.
Eligible Credit Insurance Provider means (a) Coface North America Insurance Company or (b) such other insurance company in the business of issuing commercial credit insurance, in each case, solely to the extent such insurance company maintains insurance financial strength ratings of “A3” or better from Moody’s and “A” or better by AM Best.
More Definitions of Eligible Credit Insurance Provider
Eligible Credit Insurance Provider means an insurance company in the business of issuing commercial credit insurance (a) which company is not an Affiliate of any Borrower-Related Party and (b) with respect to which, at least two of Xxxxx’x, Standard Poor’s or A.M. Best Company, Inc. have assigned it (or its unsecured and uncredit-enhanced debt securities) (x) a short-term debt rating of at least “A-2” and “P-2” and (y) a long-term rating of at least “BBB+” and “Baa1”; provided, that, with respect to any Credit Insurance Policy issued by multiple insurance providers, the Administrative Agent may elect (in its sole discretion) to treat such syndicate as a single insurer and apply a weighted average credit rating.
Eligible Credit Insurance Provider means an insurance company in the business of issuing commercial credit insurance (a) which company is not an Affiliate of ACI, the Transferor, the Servicer or any other Originator, (b) which is not a Sanctioned Person, and (c) with respect to which, it has not had any credit rating assigned by any of Moody’s, Standard Poor’s or A.M. Best Company, Inc. to it reduced by two or more ratings “notches” since the time any Credit Insurance Policy written by such Credit Insurer became Eligible Credit Insurance hereunder.
Eligible Credit Insurance Provider means an insurance company in the business of issuing commercial credit insurance (a) which company is not an Affiliate of any of the Seller, the Originators, the Servicer, the Performance Guarantor or any other Affiliate thereof and (b) with respect to which, it has not had any credit rating assigned by any of Xxxxx’x, S&P or A.M. Best Company, Inc. to it reduced by two or more ratings “notches” since the time the Credit Insurance Policy written by such Credit Insurer became Eligible Credit Insurance hereunder; provided, that, with respect to the Credit Insurance Policy issued by multiple insurance providers, the Administrative Agent may elect (in its sole discretion) to treat such syndicate as a single insurer and apply a weighted average credit rating. “Eligible Foreign Currency” means AUD, CAD, EUR, GBP, NZD and SEK. “Eligible Foreign Currency VaR Percentage” means 6.0%, or such other percentage designated by all Group Agents from time to time upon ten (10) Business Days’ notice. “Eligible Foreign Obligor” means an Obligor that is organized in or that has a head office (domicile), registered office, and chief executive office located in a country that is not the United States or a country or territory that is, or whose government is, the subject of any Sanctionsa Sanctioned Jurisdiction. “Eligible Receivable” means, at any time of determination, a Receivable: (a) the Obligor of which is: (i) either a U.S. Obligor or an Eligible Foreign Obligor; (ii) not the target or subject of any Sanctionsa Sanctioned Person; (iii) not a consolidated Affiliate of the Seller, the Servicer, the Parent or any Originator; (iv) not a natural person; and (v) not the Obligor with respect to which more than 50% of the aggregate Outstanding Balance of all of such Obligor’s Pool Receivables consist of Defaulted Receivables or Delinquent Receivables; (b) that is neither a Defaulted Receivable (other than with respect to clause (a) of such definition) nor a Delinquent Receivable; (c) that is denominated and payable only in Dollars or an Eligible Foreign Currency and the Obligor with respect to which has been instructed to remit Collections in respect thereof directly to a Lock-Box or Collection Account in the United States of America or Canada; (d) that does not have a due date which is more than 90 days after the original invoice date of such Receivable;
Eligible Credit Insurance Provider means an insurance company in the business of issuing commercial credit insurance (a) which company is not an Affiliate of any of the Seller, the Originators, the Servicer, the Performance Guarantor or any other Affiliate thereof and (b) with respect to which, it has not had any credit rating assigned by any of Xxxxx’x, S&P or A.M. Best Company, Inc. to it reduced by two or more ratings “notches” since the time the Credit Insurance Policy written by such Credit Insurer became Eligible Credit Insurance hereunder; provided, that, with respect to the Credit Insurance Policy issued by multiple insurance providers, the Administrative Agent may elect (in its sole discretion) to treat such syndicate as a single insurer and apply a weighted average credit rating. “Eligible Foreign Currency” means AUD, CAD, EUR, GBP, NZD and SEK. “Eligible Foreign Currency VaR Percentage” means 6.0%, or such other percentage designated by all Group Agents from time to time upon ten (10) Business Days’ notice. “Eligible Foreign Obligor” means an Obligor that is organized in or that has a head office (domicile), registered office, and chief executive office located in a country that is not the United States or a country or territory that is, or whose government is, the subject of any Sanctions. “Eligible Receivable” means, at any time of determination, a Receivable:
Eligible Credit Insurance Provider means an insurance company in the business of issuing commercial credit insurance, which has not had any credit rating assigned to it by any of Xxxxx’x, Standard Poor’s or A.M. Best Company, Inc. reduced by two or more ratings “notches” since the time any Credit Insurance Policy written by such Credit Insurer became Eligible Credit Insurance hereunder; provided, that, with respect to any Credit Insurance Policy issued by multiple insurance providers, the Administrative Agent may elect (in its sole discretion) to treat such syndicate as a single insurer and apply a weighted average credit rating.