Eligible Security Issuer definition

Eligible Security Issuer means a reputable financial institution authorized to issue bonds, letters ofcredit, or sureties in the State having either:(a) a long-term unsecured debt ration of at least (i) “A” by Standard & Poor’s Rating Services; (ii)“A” by Fitch, Inc., (iii) “A2” by Moody’s Investor Service, Inc., or (iv) “A” by DBRS, Inc.; or(b) a rating of at least “A-” and “Class VIII” from A.M. Best Company, Inc. “Equity Member” means the members of a Proposer that will contribute shareholders’ equity to the Developer as part of the financing plan for the Project.“Exclusive Negotiating Agreement” means the agreement to be executed by PGCPS and the Successful Proposer in the form of Proposal Form T-15.“Exclusive Negotiating Period” means the period that the Exclusive Negotiating Agreement is in effect. “Exempt Material” means information exempt from disclosure under Applicable Law.“Final Agreement Draft” means the version of the Project Agreement attached to the Final RFP. “Final RFP” means the last version of this Request for Proposals document package, including any and all Addenda. “Financial Advisor” means the member of the Proposer’s team that will provide financial advisory services in connection with arranging and securing debt financing on behalf of the Developer. “Financial Capacity Information” means the information to be provided in accordance with Section 2.3 of Schedule C‐1 (Financial Proposal Instructions). “Financial Close Security” is defined in Section 4.6.2 (Proposal Security and Closing). “Financial Model” is defined in Section 2.5 of Schedule C-1. “Financial Model Auditor” means the firm engaged by the Proposer, and approved by PGCPS, to provide a preliminary independent audit of the Proposal Financial Model. “Financial Proposal” is detailed in Schedule C‐1 (Financial Proposal Instructions). “Financial Proposal Checklist” means the checklist of Financial Proposal requirements, as described in Schedule A (Summary and Checklist of Proposal Contents). “Financial Proposal Due Date” means September 14, 2020. “Financial Proposal Score” is defined in Section 5.5.2 (Financial Proposal Scoring) of this RFP. “Financing Member“ means each member of the Proposer’s team that will contribute equity to the Developer for purposes of executing the Project, as part of such Proposer’s financing plan or, in the case of a tax-exempt structure, will commit to holding Developer-issued subordinated debt as a long- term ownership interest in the Developer.
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Eligible Security Issuer means a bank: (i) which either is (A) a member of the New York Clearing House Association; or (B) a non-member bank reasonably acceptable to ESD; (ii) (A) whose most recent issue of long term debt is rated A or better (as rated by Standard & Poor’s) or A or better (as rated by Moody’s Investors Service, Inc.) and (B) which has (1) assets in excess of seven billion five hundred million United States dollars (US$7,500,000,000) and (2) a net worth in excess of three hundred million United States dollars (US$300,000,000), in each case as adjusted for inflation, from the date hereof to the date of posting each requirement set forth in this clause; and (iii) which has an office in New York City at which a letter of credit issued by such bank may be presented for payment and/or provides a process, satisfactory to ESD, for electronic presentation for payment.
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Eligible Security Issuer means a reputable financial institution authorized to issue bonds, letters of credit, or sureties in the State having either:
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Examples of Eligible Security Issuer in a sentence

  • The Proposal Security shall be issued by an Eligible Security Issuer, and the Proposer shall deliver, together with its Proposal Security, evidence demonstrating that each issuer of the Proposal Security is an Eligible Security Issuer.

  • At any time following the Proposer’s submission of its Proposal Security to the Department, if any issuer thereof shall fail to be an Eligible Security Issuer, the Proposer shall promptly notify the Department in writing of such change, and within 10 days of such notice, the Proposer shall deliver to the Department new Proposal Security from a replacement Eligible Security Issuer.

  • At any time following the Proposer's submission of its Proposal Security to the Department, if any issuer thereof shall fail to be an Eligible Security Issuer, the Proposer shall promptly notify the Department in writing of such change, and within 10 days of such notice, the Proposer shall deliver to the Department new Proposal Security from a replacement Eligible Security Issuer.

  • There had also been several smaller entrants into some countries such as Zambia (ZPC and Scirocco), Malawi (Cement Products and Shayona), Kenya (where National Cement and Savannah Cement entered in 2011 and 2012, with grinding plants), Tanzania (Lake Cement entered in 2014 and ARM expanding from Kenya with a clinker plant in 2015).

  • If at any time following Respondent’s delivery to ESD of the Construction Commencement Security, the issuer shall fail to be an Eligible Security Issuer, the Respondent shall promptly notify ESD in writing and, within 10 days of such notice, or regardless of such notice within 10 days after ESD’s demand therefor, the Respondent shall deliver to ESD a satisfactory replacement letter of credit from an Eligible Security Issuer.

  • At any time following the Proposer’s submission of its Proposal Security to the Department, if any issuer thereof shall fail to be an Eligible Security Issuer, the Proposer shall promptly notify the Department in writing of such change and, within 10 days of such notice, the Proposer shall deliver to the Department new Proposal Security from a replacement Eligible Security Issuer.

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  • The Respondent shall deliver to ESD with the Construction Commencement Security evidence demonstrating that the issuer of such letter of credit is an Eligible Security Issuer.

  • The Construction Commencement Security shall be provided in the form of a letter of credit issued by an Eligible Security Issuer substantially in the form to be provided by ESD in an addendum to this RFP or such other form as shall be satisfactory to ESD.

  • The Proposal Security must be issued by an Eligible Security Issuer.


More Definitions of Eligible Security Issuer

Eligible Security Issuer means any Person which has a credit rating for long-term, unsecured debt of not less than “A-/A3” from one of the Rating Agencies, and has an office in Richmond, Virginia or in New York, New York at which the letter of credit can be presented for payment by facsimile or by electronic means.
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Related to Eligible Security Issuer

  • Acceptable Security Interest in any Property means a Lien which (a) exists in favor of the Administrative Agent for the benefit of the Secured Parties, (b) is superior to all Liens or rights of any other Person in the Property encumbered thereby, other than Permitted Subject Liens, (c) secures the Obligations, and (d) is perfected and enforceable.

  • Eligible Security means a security that:

  • Ineligible Security means any security which may not be underwritten or dealt in by member banks of the Federal Reserve System under Section 16 of the Banking Act of 1933 (12 U.S.C. Section 24, Seventh), as amended.

  • Collateral Security means security, other than a security interest in a motor vehicle that is the subject of an installment sale contract, that is given to secure performance of an obligation of the buyer, or of any surety or guarantor for the buyer, under an installment sale contract. The term includes the undertakings of any surety or guarantor for the buyer and any interest in, encumbrance on, or pledge of real or personal property other than the motor vehicle that is the subject of the installment sale contract.

  • Eligible Vehicle means a Vehicle (which includes, for the avoidance of doubt, a Service Vehicle) in Spain, Germany, The Netherlands, Italy or France (as applicable):

  • Collateral Disposition means (i) the sale, lease, transfer or other disposition of the Vessel by the Borrower to any Person (it being understood that a Permitted Chartering Arrangement is not a Collateral Disposition) or the sale of 100% of the Capital Stock of the Borrower or (ii) any Event of Loss of the Vessel.

  • Hedge Collateral Defined in Section 5.3(b).

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • Qualified Bank means a major U.S. commercial bank or a U.S. branch office of a major foreign bank, in either case, having (i) assets on its most recent audited balance sheet of at least $10,000,000,000, and (ii) a rating for its senior long-term unsecured debt obligations of at least (1) "A-" by S&P and "A3" by Moody's, if such entity is rated by both S&P and Moody's, or (2) "A-" by S&P or "A3" by Moody's, if such entity is rated by either S&P or Moody's but not both;

  • Eligible mortgagee means the holder of a security interest on a unit that has filed with the secretary of the association a written request that it be given copies of notices of any action by the association that requires the consent of mortgagees.

  • Permitted Security Interest means any Security Interest:

  • Eligible Servicer means a Person which, at the time of its appointment as Servicer, (i) has a net worth of not less than $50,000,000, (ii) is servicing a portfolio of motor vehicle retail installment sale contracts and/or motor vehicle loans, (iii) is legally qualified, and has the capacity, to service the Receivables, (iv) has demonstrated the ability to service a portfolio of motor vehicle retail installment sale contracts and/or motor vehicle loans similar to the Receivables professionally and competently in accordance with standards of skill and care that are consistent with prudent industry standards and (v) is qualified and entitled to use pursuant to a license or other written agreement, and agrees to maintain the confidentiality of, the software which the Servicer uses in connection with performing its duties and responsibilities under the Sale and Servicing Agreement or obtains rights to use, or develops at its own expense, software which is adequate to perform its duties and responsibilities under the Sale and Servicing Agreement.

  • Eligible Loan means a Loan offered for sale or substituted by Seller under a Sale Agreement which as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the related Subsequent Cutoff Date, in the case of any Additional Loan or Substituted Loan, is current or not more past due than permitted under such Sale Agreement in payment of principal or interest and which meets the following criteria as of the Statistical Cutoff Date, in the case of the Initial Loans, or as of the effective date of the related Xxxx of Sale, in the case of any Additional Loan or Substituted Loan:

  • Eligible Swap Counterparty means an entity, which may be an affiliate of a remarketing agent, engaged in the business of entering into derivative instrument contracts that satisfies the Rating Agency Condition.

  • Eligible Mortgage Loan means, on any date of determination, a Mortgage Loan:

  • Eligible Securities means those securities which are identified as permissible securities for a particular Transaction Category.

  • Substitute Commercial Paper Dealers means such Substitute Commercial Paper Dealer or Dealers as the Corporation may from time to time appoint or, in lieu of any thereof, their respective affiliates or successors.

  • Eligible borrower means owners or others having an interest in property situated within the downtown area of a participating city, community development corporations associated with a participating city, Iowa main street program organizations associated with a participating city, community-initiated development groups associated with a participating city, or other organization associated with a participating city for purposes of implementing the Iowa main street program.

  • Eligible Loans has the meaning specified in any of the Purchase Agreements or the Sale Agreement, as applicable.

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Eligible Asset An Asset:

  • Counterparty Downgrade Collateral means any cash and/or securities delivered to the Issuer as collateral for the obligations of a Hedge Counterparty under a Hedge Transaction.

  • Eligible Bank means a bank or trust company that (i) is organized and existing under the laws of the United States of America or Canada, or any state, territory, province or possession thereof, (ii) as of the time of the making or acquisition of an Investment in such bank or trust company, has combined capital and surplus in excess of $500.0 million and (iii) the senior Debt of which is rated at least “A-2” by Moody’s or at least “A” by Standard & Poor’s.

  • First Priority Lien Obligations means (i) all Secured Bank Indebtedness, (ii) all other Obligations (not constituting Indebtedness) of the Issuer and its Restricted Subsidiaries under the agreements governing Secured Bank Indebtedness and (iii) all other Obligations of the Issuer or any of its Restricted Subsidiaries in respect of Hedging Obligations or Obligations in respect of cash management services, in each case owing to a Person that is a holder of Indebtedness described in clause (i) or Obligations described in clause (ii) or an Affiliate of such holder at the time of entry into such Hedging Obligations or Obligations in respect of cash management services.

  • Qualified Lender means a lender approved by the federal department of housing and urban development to enter into a loan insured by the federal government under 12 USC 1715z−20.