Eligible Surety definition

Eligible Surety means a bonding surety licensed in the State, listed on the U.S. Department of the Treasury’s “Listing and Approved Sureties” (found at www.fms.treas.gov/c570/c570.html), rated “A” or higher by at least two nationally-recognized rating agencies (Fitch Ratings, Moody’s Investor Service and Standard & Poor’s) or rated least A-, X or higher according to A.M. Best’s Financial Strength Rating and Financial Size Category.
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Eligible Surety means a bonding surety or insurance company licensed in the State of Nevada, listed on the U.S. Department of the Treasury’s “Listing and Approved Sureties” (found at www.fms.treas.gov/c570/c570.html), rated “A” or higher by at least two of nationally recognized rating agencies or rated least A-, X or higher according to A.M. Best’s Financial Strength Rating and Financial Size Category.
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Eligible Surety means a bonding surety licensed in the State, listed on the U.S. Department of the Treasury’s “Listing and Approved Sureties” (found at www.fiscal.treasury.gov/fsreports/ref/suretyBnd/c570_a-z.htm), rated “A” or higher by at least two nationally-recognized rating agencies (Fitch Ratings, Moody’s Investor Service and Standard & Poor’s) or rated least A-, X or higher according to A.M. Best’s Financial Strength Rating and Financial Size Category.
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Examples of Eligible Surety in a sentence

  • Each bond required hereunder shall be provided by an Eligible Surety or Eligible Sureties.

  • Eligible letters of Credit and Eligible Surety Bonds provided pursuant to this paragraph shall be subject to the prior approval of the Local Government unless the Local Government has approved in writing the form of an Eligible Letter of Credit or Eligible Surety Bond to be issued by a specific entity or the form of such Eligible Letter of Credit or Eligible Surety Bond as attached hereto as an Exhibit.

  • Developer shall promptly notify the Enterprises if at any time prior to Financial Close any issuer of Financial Close Security ceases to be an Eligible Financial Institution or Eligible Surety, as applicable.

  • Design-Builder shall provide immediate notice to JPA both: (i) before such Bond is rendered ineffective or before such ▇▇▇▇’s surety is no longer an Eligible Surety, if Design-Builder has Actual Knowledge that either of the foregoing may occur; and (ii) immediately after such occurrence, but in no case later than two days thereafter.

  • Promptly following the Enterprises’ receipt of such Financial Close Security, they shall return to Developer the undrawn portion of the replaced Financial Close Security issued by any issuer that has ceased to be an Eligible Financial Institution or Eligible Surety, as applicable.


More Definitions of Eligible Surety

Eligible Surety means a Surety licensed in the State, listed on the U.S. Department of the Treasury’s “List of Certified Companies” (found at ▇▇▇▇▇://▇▇▇▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/surety-bonds/list- certified-companies.html), rated “A” or higher by at least two nationally-recognized rating agencies (Fitch Ratings, ▇▇▇▇▇’▇ Investor Service and Standard & Poor’s) or rated at least A-, X or higher according to ▇.▇. ▇▇▇▇’s Financial Strength Rating and Financial Size.
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Eligible Surety means a bonding surety:
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Eligible Surety means a bonding surety licensed in the State, listed on the U.S. Department of the Treasury’s “Listing and Approved Sureties” (found at
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Eligible Surety means a surety company rated at least A/VIII or better according to A.M. Best and Company and must be listed on the most recent U.S. Treasury Department Circular 570.
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Eligible Surety means a surety authorized to issue bonds in the State that ishaving
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Eligible Surety means a surety authorized to issue bonds in the State having either: (a) a Minimum Surety Rating from at least two Rating Agencies; or (b) a rating of at least “A” and “Class VIII” from A.M. Best Company, Inc. (but only if it is at the relevant time a Registered Rating Agency). For purposes of this definition “Minimum Surety Rating” means a long-term unsecured debt rating of at least: (i) "A" by Standard & Poor's Rating Services; (ii) “A“ by Fitch, Inc.; (iii) “A2” by Moody's Investors Service, Inc.; or (iv) “A” by DBRS, Inc., in each case with an outlook of “stable” or better.
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Eligible Surety means a surety authorized to issue bonds in the State that is either (a) rated not less than “A” or “A2” by at least two Rating Agencies or (b) not less than “A” and “Class VIII” by A.M. Best and Company.
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