Eligible Interest Rate Hedge Counterparty definition

Eligible Interest Rate Hedge Counterparty. Any of the following:

Eligible Interest Rate Hedge Counterparty any bank or other financial institution (or any party providing credit support on such Person’s behalf) that (i)(a) has either (x) an unsecured, short-term debt obligation rating of at least “A-2” by S&P or (y) if such entity does not have a short-term rating from S&P, an unsecured, long-term senior debt obligation rating of at least “BBB+” by S&P, and (b) has either (x) an unsecured, short-term debt rating of at least “P-1” by Moody’s and an unsecured and unsubordinated debt rating of at least “A1” by Moody’s or (y) if such entity does not have a short-term rating from Moody’s an unsecured, long-term senior debt rating of at least “A1” by Moody’s; or (ii) is otherwise approved by the Administrative Agent thereafter.

Eligible Interest Rate Hedge Counterparty means, with respect to Series 2014-2, any Interest Rate Hedge Counterparty from time to time approved by the Control Party for Series 2014-2.

Examples of Eligible Interest Rate Hedge Counterparty in a sentence

• An Eligible Interest Rate Hedge Counterparty that has entered into an Interest Rate Hedge Agreement but thereafter ceases to meet the criteria set forth in the definition of Eligible Interest Rate Hedge Counterparty shall continue to be an Interest Rate Hedge Provider until it is terminated or replaced under the applicable Interest Rate Hedge Agreement and all amounts owed to such Interest Rate Hedge Provider are paid in full.

• Any Eligible Interest Rate Hedge Counterparty to an Interest Rate Hedge Agreement with the Borrower.

• The Borrower will maintain one or more Interest Rate Hedging Agreements that will obligate the Borrower or the applicable Eligible Interest Rate Hedge Counterparty to make a Periodic Hedge Payment on each Payment Date.

• The Noteholders, the Lead Arrangers, the Administrative Agent and each Eligible Interest Rate Hedge Counterparty shall also have the benefit of, and the Outstanding Obligations shall be secured by and be payable from, the Issuer’s right, title and interest in the Collateral.

• In addition, the Indenture Trustee or its parent corporation shall at all times be acceptable to each Lead Arranger and each Eligible Interest Rate Hedge Counterparty.

More Definitions of Eligible Interest Rate Hedge Counterparty

Eligible Interest Rate Hedge Counterparty means, with respect to Series 2014-3, any Interest Rate Hedge Counterparty from time to time approved by the Control Party for Series 2014-3.

Eligible Interest Rate Hedge Counterparty. Any of the following: (A) any bank which has both (x) a long-term unsecured debt rating of at least “A-” or better from S&P or “A3” or better from Xxxxx’x and (y) a short-term unsecured debt rating of “A-1” or better from S&P and “P-1” or better from Xxxxx’x; (B) any bank or other financial institution which is acceptable to Majority Lenders; or (C) any Person that is a Lender or an Affiliate of a Lender on the date on which the related Hedge Agreement was entered into. “Eligible Investments”: One or more of the following: (i) direct obligations of, and obligations fully guaranteed as to the full and timely payment by the United States or any agency or instrumentality of the United States of America the obligations of which are expressly backed by the full faith and credit of the United States of America; provided that notwithstanding the foregoing, the following securities shall not be Eligible Investments: (i) General Services Administration participation certificates; (ii) U.S. Maritime Administration guaranteed Title XI financing; (iii) Financing Corp. debt obligations; (iv) Farmers 17

Eligible Interest Rate Hedge Counterparty. Any of the following: (A) any bank which has both (x) a long-term unsecured debt rating of at least “A-” or better from S&P or “A3” or better from Xxxxx’x and (y) a short-term unsecured debt rating of “A-1” or better from S&P and “P-1” or better from Xxxxx’x; (B) any bank or other financial institution which is acceptable to Majority Lenders; or (C) any Person that is a Lender or an Affiliate of a Lender on the date on which the related Hedge Agreement was entered into.

Eligible Interest Rate Hedge Counterparty means any bank that (A) has both (x) a long-term unsecured debt rating of at least “A+/A1” (or the equivalent) from the applicable Rating Agency (so long as such Rating Agency is then rating any Series of Notes Outstanding hereunder) and (y) a short-term unsecured debt rating of “A1/F1/P1” (or the equivalent) from the applicable Rating Agency (so long as such Rating Agency is then rating any Series of Notes Outstanding hereunder) and (B) is acceptable to the Required Persons for each outstanding VFN Series.

Eligible Interest Rate Hedge Counterparty means, with respect to Series 2013-1, any Interest Rate Hedge Counterparty from time to time approved by the Control Party for Series 2013-1.

Eligible Interest Rate Hedge Counterparty. One of the following: (a) any Lender or any Affiliate of a Lender on the date on which the related Interest Rate Hedge Agreement was entered into by the Borrower, (b) any bank that has a short-term unsecured debt rating of at least “A-1” by Standard & Poor’s and “P-1” by Moody’s (or their equivalent) and a long-term unsecured debt rating of at least “A+” by Standard & Poor’s and “A3” by Moody’s (or their equivalent) or (c) any other Person acceptable to the Required Lenders.

Eligible Interest Rate Hedge Counterparty means any bank that has both (x) a long-term unsecured debt rating of at least “A+/A1” (or the equivalent) from the applicable Rating Agency (so long as such Rating Agency is then rating any Series of Notes Outstanding hereunder) and (y) a short-term unsecured debt rating of “A1/F1/P1” (or the equivalent) from the applicable Rating Agency (so long as such Rating Agency is then rating any Series of Notes Outstanding hereunder).