Eligible Program Manufacturer means (a) an “Eligible Program Manufacturer” as defined in the Definitions List attached to the Base Indenture as Schedule I thereto and (b) Fiat, Mini and Smart.
Eligible Program Manufacturer means (a) Ford, GM, Chrysler, Toyota, Honda, Mazda, Nissan, Volvo, Jaguar, Audi, Volkswagen, Land Rover, Hyundai, Kia, Lexus, Mercedes and BMW or (b) a Manufacturer (i) who, at the time that such Manufacturer is proposed for consideration as an Eligible Program Manufacturer, has a long term unsecured debt rating of at least “BBB-” from S&P, at least “Baa3” from Xxxxx’x and, unless otherwise agreed to by Fitch, at least “BBB-” from Fitch, provided, that if a Manufacturer proposed for consideration under the preceding clause (b) does not have a rating from S&P or Xxxxx’x, then the rating of the entity specified by the Rating Agencies shall apply, or (ii) with respect to which the Rating Agency Condition with respect to each Series of Notes Outstanding shall have been satisfied; provided, however, that upon the occurrence of a Manufacturer Event of Default with respect to any such Manufacturer, such Manufacturer shall no longer qualify as an Eligible Program Manufacturer.
Eligible Program Manufacturer means (a) Ford, GM, Old GM, Chrysler, Old Chrysler, Toyota, Honda, Mazda, Nissan, Volvo, Jaguar, Audi, Volkswagen, Land Rover, Hyundai, Kia, Lexus, Mercedes, Suzuki and BMW, or (b) a Manufacturer (i) who, at the time that such Manufacturer is proposed for consideration as an Eligible Program Manufacturer, has a long term unsecured debt rating of at least “BBB-” from S&P, at least “Baa3” from Xxxxx’x and, unless otherwise agreed to by Fitch, at least “BBB-” from Fitch, provided, that if a Manufacturer proposed for consideration under the preceding clause (b) does not have a rating from S&P or Xxxxx’x, then the rating of the entity specified by the Rating Agencies shall apply, or (ii) with respect to which the Rating Agency Condition with respect to each Series of Notes Outstanding shall have been satisfied; provided, however, that for so long as a Manufacturer Event of Default is occurring with respect to any such Manufacturer, such Manufacturer shall not qualify as an Eligible Program Manufacturer.
Examples of Eligible Program Manufacturer in a sentence
No Manufacturer Event of Default has occurred and is continuing with respect to any Eligible Program Manufacturer.
No Person who is not an Eligible Program Manufacturer on the date hereof shall be an Eligible Program Manufacturer for any purpose under the Transaction Documents unless, at any time of determination, such Person has a long-term unsecured debt rating of at least “BBB-” from S&P and “Baa3” from Mxxxx’x and unless otherwise agreed to by Fitch, “BBB-” from Fitch, and has been previously approved by the Insurer, such approval not to be unreasonably withheld or delayed.
More Definitions of Eligible Program Manufacturer
Eligible Program Manufacturer means GM, Chrysler, Ford, Mazda, Nissan, Nissan Hawaii, Toyota and any other Manufacturer that (i) has been approved by the Rating Agencies or has been reviewed by the Rating Agencies and the Rating Agencies have indicated that the inclusion of such Manufacturer as an Eligible Program Manufacturer will not adversely affect the current rating of any Series of Notes and (ii) has been approved by each Enhancement Provider; provided, however, that upon the occurrence of a Manufacturer Event of Default with respect to any such Eligible Program Manufacturer, such Manufacturer shall no longer qualify as an Eligible Program Manufacturer and provided, further, that if so specified in the applicable Supplement for a Series of Notes, a Manufacturer may be considered an Eligible Program Manufacturer only with respect to a portion of the Vehicles acquired from such Manufacturer that are eligible under its Manufacturer Program.
Eligible Program Manufacturer means (a) Ford, GM, Chrysler, Toyota, Honda, Mazda, Nissan, Volvo, Jaguar, Audi, Volkswagen, Land Rover, Hyundai, Kia, Lexus, Mercedes and BMW or (b) a Manufacturer (i) who, at the time that such Manufacturer is proposed for consideration as an Eligible Program Manufacturer, has a long term unsecured debt rating of at least “A-” from S&P and at least “A3” from Moody’s (provided, that if a Manufacturer proposed for consideration under this clause (b)(i) does not have a rating from S&P or Moody’s, then the rating of the entity specified by the Rating Agencies shall apply), or (ii) with respect to which the Rating Agency Condition with respect to each Series of Notes Outstanding shall have been satisfied; provided, however, that upon the occurrence of a Manufacturer Event of Default with respect to any Manufacturer described in clauses (a) or (b) above, such Manufacturer shall no longer qualify as an Eligible Program Manufacturer.
Eligible Program Manufacturer means (a) Ford, GM, Toyota, Honda, Mazda, Nissan, Volvo, Jaguar, Audi, Volkswagen, Land Rover, Hyundai, Kia, Lexus, Mercedes and BMW, or (b) a Manufacturer (i) who, at the time that such Manufacturer is proposed for consideration as an Eligible Program Manufacturer, has a long term unsecured debt rating of at least “BBB-” from S&P, at least “Baa3” from Moody’s and, unless otherwise agreed to by Fitch, at least “BBB-” from Fitch, provided, that if a Manufacturer proposed for consideration under the preceding clause (b) does not have a rating from S&P or Moody’s, then the rating of the entity specified by the Rating Agencies shall apply, or (ii) with respect to which the Series 2005-2 Rating Agency Condition shall have been satisfied; provided, however, that for so long as a Manufacturer Event of Default is occurring with respect to any such Manufacturer, such Manufacturer shall not qualify as an Eligible Program Manufacturer; provided, further, that, for purposes of this definition, any Vehicles manufactured by Old GM that were leased to Hertz as of the Restatement Effective Date with respect to which GM has assumed or otherwise become obligated in respect of all obligations of Old GM (other than immaterial obligations but including, for the avoidance of doubt, Old GM’s obligations under its Manufacturer Program) shall be deemed to have been manufactured by GM.” “‘GM Amount’ means, as of any date of determination, an amount equal to the sum of the Manufacturer Non-Eligible Vehicle Amount and the Manufacturer Eligible Program Vehicle Amount, in each case, with respect to GM as of such date.”
Eligible Program Manufacturer means (a) each Manufacturer listed on Exhibit D-2 to this Supplement and (b) any other Manufacturer that (i) has an Eligible Manufacturer Program, (ii) is rated or whose parent is rated at least "BBB-" by Standard and Poor's and "Baa3" by Moody's or is otherwise approved by a majority of the lenders under each liquidity facility supporting debt issued by any Series 1997 Variable Funding Noteholder to fund advances made by it under its respective Series 1997 Variable Funding Note and by the Majority Credit Enhancers, and (c) has not experienced a Manufacturer Event of Default which is continuing.
Eligible Program Manufacturer means GM, Chrysler, Ford, Mazda, Nissan, Nissan Hawaii, Toyota and any other Manufacturer that (i) has been approved by the Rating Agencies or has been reviewed by the Rating Agencies and the Rating Agencies have indicated that the inclusion of such Manufacturer as an Eligible Program Manufacturer will not adversely affect the current rating of any Series of Notes, (ii) has been approved by each Enhancement Provider and (iii) to the extent any Series of Notes supporting Commercial Paper Notes are outstanding, has been approved by the Majority Banks (as defined in the applicable Supplement); provided, however, that upon the occurrence of a Manufacturer Event of Default with respect to any such Eligible Program Manufacturer, such Manufacturer shall no longer qualify as an Eligible Program Manufacturer and provided, further, that if so specified in the applicable Supplement for a Series of Notes, a Manufacturer may be considered an Eligible Program Manufacturer only with respect to a portion of the Vehicles acquired from such Manufacturer that are eligible under its Manufacturer Program.
Eligible Program Manufacturer means (a) Toyota or (b) a Manufacturer (i) who, at the time that such Manufacturer is proposed for consideration as an Eligible Program Manufacturer, has a long term unsecured debt rating of at least “BBB-” from S&P, at least “Baa3” from Xxxxx’x, or (ii) with respect to which the Rating Agency Condition with respect to each Series of Notes Outstanding that is rated by a Rating Agency shall have been satisfied; provided, however, that for so long as a Manufacturer Event of Default is occurring with respect to any such Manufacturer, such Manufacturer shall not qualify as an Eligible Program Manufacturer.
Eligible Program Manufacturer means, as of any date of determination, a Manufacturer who is an "Eligible Program Manufacturer" under the Series Supplement with respect to each Outstanding Series of Notes as of such date.