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.

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.

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.

Examples of Eligible Surety in a sentence

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

• Proposer has delivered a letter(s) of support from an Eligible Surety or bank/financial institution as described in Section 3.2.10 of Exhibit B.

• At, and as a condition precedent to, commercial close, the Preferred Proposer shall submit either: (a) a financial close bond in an amount equal to $15,000,000 and in the form of Form U- 1 from an Eligible Surety or (b) a letter of credit in an amount equal to $15,000,000 and in the form of Form U-2 issued by an Eligible Financial Institution that has an office in the United States at which the letter of credit can be presented for payment.

• A letter from an Eligible Surety, signed by an authorized representative as evidenced by a current certified power of attorney, committing to provide a Payment Bond as described in Section 17.2 of the PPA and in form compliant with the requirements of this Section 6.1.1(g) and otherwise reasonably acceptable to IFA, in an amount equal to 5% of the Total Project Capital Cost.

• Letters must specifically state the amount the Proposer is capable of obtaining from the Eligible Surety.

• Name of Surety (which must be an Eligible Surety) and the name and address of the agent.

• If any bond previously provided becomes ineffective, or if the Surety that provided the bond no longer is an Eligible Surety, Design-Build Contractor shall, within seven days after such event, deliver to IFA a replacement bond in the required form issued by an Eligible Surety, or other assurance satisfactory to IFA, in its sole discretion.

• One or more letters from an Eligible Surety, signed by an authorized representative as evidenced by a current certified power of attorney, committing to provide a Performance Bond as described in Section 8.1.1 of the PPA and in form compliant with the requirements of this Section 6.1.2(d) and otherwise reasonably acceptable to IFA, in an amount equal to 100% of the Contract Price.

• One or more letters from an Eligible Surety, signed by an authorized representative as evidenced by a current certified power of attorney, committing to provide a Payment Bond as described in Section 8.1.2 of the PPA and in form compliant with the requirements of this Section 6.1.2(e) and otherwise reasonably acceptable to IFA, in an amount equal to 100% of the Contract Price.

• If multiple Proposal Bonds are provided, the aggregate value of the Proposal Bonds shall equal $25 million and each such Proposal Bond shall be in the form of Form J and issued by an Eligible Surety.

More Definitions of Eligible Surety

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.

Eligible Surety means a bonding surety:

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.

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.

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 xxxxx://xxxxxx.xxxxxxxx.xxx/surety-bonds/list- certified-companies.html), rated “A” or higher by at least two nationally-recognized rating agencies (Fitch Ratings, Xxxxx’x Investor Service and Standard & Poor’s) or rated at least A-, X or higher according to A.M. Best’s Financial Strength Rating and Financial Size.