Obligor Limit means the percentage, as set forth in the Receivables Specification and Exception Schedule attached to the U.S. Receivables Loan Agreement as Schedule 8 under the heading “Obligor Limit”, which shall represent, at any date, with respect to an Eligible Obligor, the percentage of the Principal Amount of all Pool Receivables which are Eligible Receivables at such date which are due from such Eligible Obligor for the applicable ratings category of long-term senior debt of that Obligor, or if such Obligor is unrated and is a wholly owned subsidiary, then the applicable ratings category of long term senior debt of such Obligor’s parent; provided, however, for purposes of this definition that all Eligible Obligors that are Affiliates of each other shall be deemed to be a single Eligible Obligor to the extent the Master Servicer has actual knowledge of the affiliation and in that case, the applicable debt rating for such group of Obligors shall be the debt rating of the ultimate parent of the group. If the ratings given by S&P and Moody’s to the long term senior debt of any Obligor (or the ultimate parent of the Obligor or the affiliated group of which such Obligor is a member, as the case may be) would result in different applicable percentages under Schedule 8 to this Agreement, the applicable percentage shall be the percentage associated with the lower rating, as between S&P’s rating and Xxxxx’x rating, of such Obligor’s (or such ultimate parent’s, as the case may be) long-term senior debt; provided that: (i) if an Obligor (or such ultimate parent, as the case may be) is not rated by one of the Rating Agencies, then such Obligor (or the ultimate parent, as the case may be) shall be deemed to be unrated unless the Rating Agency that does not rate the Obligor consents to the application of the rating given the Obligor by the Rating Agency that does give such a rating and (ii) if an Obligor (or such ultimate parent, as the case may) does not have a long-term senior debt rating from either of the Rating Agencies, but has a short-term senior debt rating, then the applicable percentage shall be the percentage associated with the long term senior debt ratings that are equivalent to such short term senior debt ratings as set forth in the table set forth in the Receivables Specification and Exception Schedule attached to the U.S. Receivables Loan Agreement as Schedule 8 under the heading “Obligor Limit”. The ratings specified in the table are minimums for each percentag...
Obligor Limit means, as of any date of determination, (a) with respect to each Obligor having an unsecured long-term debt rating (or equivalent shadow rating) of “A+” or better from S&P and “A1” or better from Xxxxx’x, 6% of the Aggregate Receivable Balance, (b) with respect to each Obligor having an unsecured long-term debt rating (or equivalent shadow rating) of less than “A+” but “BBB” or better from S&P and less than “A1” but “Baa2” or better from Xxxxx’x, 4% of the Aggregate Receivable Balance, (c) having an unsecured long-term debt rating (or equivalent shadow rating) of “BBB-” from S&P or of “Baa3” from Xxxxx’x, 2% of the Aggregate Receivable Balance and (d) not having an unsecured long-term debt rating (or equivalent) from S&P or Xxxxx’x or having an unsecured long-term debt rating (or equivalent shadow rating) of less than “BBB-” from S&P or of less than “Baa3” from Xxxxx’x, 1% of the Aggregate Receivable Balance; provided, that, for purposes of calculating the Obligor Limits, an Obligor which has a long-term debt rating from only one of S&P and Xxxxx’x will be treated as if it was rated by both agencies at one level below its actual rating; and provided, further that, to the extent set forth in any Supplement, the Noteholders of such Series may in their discretion approve any higher Obligor Limit for any Obligor under such terms and conditions which are acceptable to all Noteholders of such Series. For purposes of calculating the Obligor Limits, no Obligor shall be deemed to have a debt rating based solely on the rating of any Affiliate unless that Affiliate is contractually obligated on the related Receivable of such Obligor, in which event that Obligor and such Affiliate shall be treated as a single Obligor. If an Obligor’s unsecured long-term debt rating (or equivalent shadow rating) results in two different Obligor Limits (because of differences in the long-term unsecured debt ratings assigned by each of the Rating Agencies), the Obligor Limit for such Obligor will be the lower of the two different Obligor Limits.
Obligor Limit means the maximum aggregate Outstanding Balance permitted at any time for an Obligor, as set forth as the total limit on the schedule of buyers attached to the Policy on the Closing Date. The parties hereto may upon mutual agreement, subject to Section 9.01, amend an Obligor Limit at any time.
Examples of Obligor Limit in a sentence
Individual operations are further constrained by the Single Obligor Limit and by monitoring of Sectoral Exposure.
The federal government introduced the Regional Employment Development (R.E.D.) Scheme and by December, a $148 820 grant had been used for construction of a nature trail and amenities block at Dumaresq Dam, the rural life museum at Hillgrove and stone pitching wall along Dumaresq Creek.
However, the bank defined Internal limit as 400% of SHFSingle Obligor Limit (SOL): Maximum in line with regulatory requirement is 20% of SHF (further capped internal at N20 Billion).
The ------------------------------------------------------------- definition of "Total Government Obligor Limit" appearing in Exhibit I to the Agreement is hereby amended by deleting the percentage "10%" where it appears therein and inserting the percentage "17%" in lieu thereof.
Santander will, on a bi-annual basis beginning six months after the Closing Date, give Kyndryl at least 12 months’ notice of the cancellation or reduction of any applicable Obligor Limit with respect to any Obligor (Committed).
More Definitions of Obligor Limit
Obligor Limit means the maximum aggregate amount of Purchased Receivables owing by any Obligor that may be outstanding under the Facility at any time as set forth on the Obligor Schedule or as otherwise agreed in writing by Purchaser (in its sole discretion) and the applicable Seller (which may be by exchange of emails between any person listed for Purchaser and any person listed for Seller on Schedule 1); provided, that notwithstanding anything to the contrary in this Agreement, the Purchaser shall be entitled to reduce or withdraw the Obligor Limit with respect to any Obligor (Uncommitted) in its sole discretion at any time and from time to time without prior notice.
Obligor Limit has the meaning set forth in the Receivables Indenture.
Obligor Limit in Section 1.01 is hereby amended and restated in its entirety as follows:
Obligor Limit means for each Obligor, the maximum amount for the respective Obligor up to USD 100.0 million or as may be agreed between the Parties in writing.
Obligor Limit means on any date of determination the lesser of ------------- (i) 2% of the Pool Balance and (ii) $7,500,000.
Obligor Limit means the percentage, as set forth in the Receivables Specification and Exception Schedule attached to the Pooling Agreement as Schedule 3 under heading (E) “Obligor Limit”, which shall represent, at any date, with respect to an Eligible Obligor, the percentage of the Principal Amount of all Eligible Receivables in the Trust at such date which are due from such Eligible Obligor for the applicable ratings category of long-term senior debt of that Obligor, or if such Obligor is unrated and is a wholly owned subsidiary, then the applicable ratings category of long term senior debt of such Obligor’s parent; provided, however, for purposes of this definition that all Eligible Obligors that are Affiliates of each other shall be deemed to be a single Eligible Obligor to the extent the Master Servicer has actual knowledge of the affiliation and in that case, the applicable debt rating for such group of Obligors shall be the debt rating of the ultimate parent of the group.
Obligor Limit means the percentage, as set forth in the Receivables Specification and Exception Schedule attached to the U.S. Receivables Loan Agreement as Schedule 8 under the heading “Obligor Limit”, which shall represent, at any date, with respect to an Eligible Obligor, the percentage of the Principal Amount of all Pool Receivables which are Eligible Receivables at such date which are due from such Eligible Obligor for the applicable ratings