Permitted Investment Securities means: (1) readily marketable securities issued or fully guaranteed by the United States of America or any agency or wholly owned corporation thereof; (2) commercial paper rated "Prime 1" by Xxxxx'x Investors Service, Inc. or A-1 by Standard and Poor's Corporation with maturities of not more than one hundred eighty (180) days and short term notes payable of any Business Entity where said notes are rated at least "Prime 1" by Xxxxx'x Investors Service, Inc. or "A-1" by Standard & Poor's Corporation with maturities of not more than ninety (90) days; (3) certificates of deposit or repurchase certificates issued by any Lender or any other financial institution acceptable to the Agent, all of the foregoing not having a maturity of more than one (1) year from the date of issuance thereof; (4) securities issued by municipalities rated AA or better by Standard & Poor's Corporation not having a maturity of more than one (1) year from the date of issuance thereof; and (5) money market mutual funds having capital surplus of at least $1,000,000,000 and deemed acceptable by the Agent, substantially all of the assets of which are comprised of securities, commercial paper, certificates of deposit or repurchase certificates of the type described in subclauses (1) through (4) above.
Permitted Investment Securities means: (1) readily marketable, direct obligations of the United States of America or any agency or wholly owned corporation thereof which are backed by the full faith and credit of the United States, (2) certificates of deposit or other short-term direct obligations of (i) the Lender, or (ii) any other financial institutions having capital and surplus in excess of $5,000,000,000, and (3) other Investments mutually agreed to in writing by the Borrower and the Lender; provided, that in each case described in clauses (1) and (2), such obligation shall mature not more than one (1) year from the acquisition thereof. Person shall mean any individual, corporation, business trust, unincorporated organization or association, partnership, joint venture, Governmental Authority or any other form of entity. Plan shall mean any plan subject to Title IV of ERISA and maintained for employees of the Borrower or of any member of a "controlled group of corporations," as such term is defined in the Code, of which the Borrower, any of its Subsidiaries or any ERISA Affiliate it may acquire from time to time is a part, or any such plan to which the Borrower, any of its Subsidiaries or any ERISA Affiliate is required to contribute on behalf of its employees. Prime Rate shall mean the rate of interest per annum publicly announced from time to time by The Chase Manhattan Bank, or its successor financial institution, at its principal office in New York City as its prime rate in effect at such time. Without notice to the Borrower or any other Person, the Prime Rate shall change automatically from time to time as and in the amount by which said prime rate shall fluctuate, with each such change to be effective as of the date of each change in such prime rate. THE PRIME RATE IS A REFERENCE RATE AND DOES NOT NECESSARILY REPRESENT THE LOWEST OR BEST RATE ACTUALLY CHARGED BY THE CHASE MANHATTAN BANK OR SUCH SUCCESSOR FINANCIAL INSTITUTION TO ANY OF ITS CUSTOMERS. THE CHASE MANHATTAN BANK OR SUCH SUCCESSOR FINANCIAL INSTITUTION MAY MAKE COMMERCIAL LOANS OR OTHER LOANS AT RATES OF INTEREST AT, ABOVE AND BELOW THE PRIME RATE. Principal Office shall mean the principal office in Dallas, Texas of the Lender, or at such other place as the Lender may from time to time by notice to the Borrower designate.
Permitted Investment Securities means each of the following, to the extent the same is pledged as additional Collateral hereunder and is subject to a first priority perfected Lien in favor of the Agent for the ratable benefit of the Lenders (including a control or dominion agreement from any applicable Person in favor of the Agent that is in all respects satisfactory to the Agent): (a) readily marketable, direct obligations of the United States of America or any agency or wholly owned corporation thereof which are backed by the full faith and credit of the United States, maturing within one (1) year after the date of acquisition thereof, (b) certificates of deposit, commercial paper (if rated no lower than A-1/P-1) or other short-term direct obligations of (i) JPMorgan or (ii) any other domestic financial institution having capital and surplus in excess of $5,000,000,000, maturing within six months after the date of acquisition thereof, (c) money market funds having aggregate assets in excess of $5,000,000,000, and (d) other Investments mutually agreed to in writing by the Borrower and the Agent.
Examples of Permitted Investment Securities in a sentence
In order to qualify as Permitted Investment Securities, Commercial Paper must be a2/P2 or better; taxable instruments must be Aa/AA or better; Municipal Notes must be Mig2/A-2 or better; and Municipal Obligations must be AA or better.
Borrower shall not make any loan, advance, extension of credit or capital contribution to, or make or have any Investment in, any Person, or purchase any stock, bonds, notes, debentures or other securities issued by any Person, or make any commitment to make any such extension of credit or Investment, except Permitted Investment Securities and travel advances in the ordinary course of business.
Make any loan, advance, extension of credit or capital contribution to, or make any Investment in, any Person, or make any commitment to make any such extension of credit or Investment, except the stock of Subsidiaries, Permitted Investment Securities and travel advances in the ordinary course of business to officers and employees.
The Borrowers will not, and will not permit their Subsidiaries to, make any loan, advance, extension of credit or capital contribution to, or make any Investment in, any Person, or make any commitment to make any such extension of credit or Investment, except (a) Equity Interests issued by Subsidiaries as in effect on the date hereof; (b) Permitted Investment Securities, and (c) travel advances in the ordinary course of business to officers and employees.
More Definitions of Permitted Investment Securities
Permitted Investment Securities means: (1) readily marketable securities issued or fully guaranteed by the United States of America; (2) commercial paper rated "Prime 1" by Moody's Investors Service, Inc., or A-1 by Standard and Poor's Bxxxxxxx with maturities of not more than one hundred eighty (180) days; (3) mutual funds acceptable to the Lender; (4) certificates of deposit or repurchase contracts with financial institutions acceptable to the Lender on terms satisfactory to the Lender, all of the foregoing not having a maturity of more than one (1) year from the date of issuance thereof; and
Permitted Investment Securities. Permitted Investment Securities" shall mean investments in cash, money market funds, Government and Government Agency Securities, including: (1) taxable investments in (i) U.S. Government and U.S. Government Obligations, (ii) Repurchase Agreements, (iii) Domestic Certificates of Deposit, Bankers Acceptances and Time Deposits, (iv) Eurodollar Certificates of Deposit and Time Deposits, (v) Corporate Obligations, Medium Term Notes and Deposit Notes, (vi) Commercial Paper and (vii) Auction Rate Preferreds; (2) tax-exempt investments in the form of (i) Variable Rate Demand Notes, (ii) Puttable Bonds, (iii) Commercial Paper, (iv) General Obligation & Revenue Bonds and (v) Auction Rate Securities; and (3) foreign currency forward contracts and purchased option contracts specifically undertaken for the purpose of hedging foreign currency receivable exposure. In order to qualify as Permitted Investment Securities, Commercial Paper must be a2/P2 or better; taxable instruments must be Aa/AA or better; Municipal Notes must be Mig2/A-2 or better; and Municipal Obligations must be AA or better. This Section shall in no way restrict Borrower's ability to make any acquisition.
Permitted Investment Securities means each of the following (and, solely in the case of the Loan Parties, to the extent the same is pledged as additional Collateral hereunder and is, subject to the Intercreditor Agreement, subject to a first priority perfected Lien in favor of the Administrative Agent for the ratable benefit of the Secured Parties):
Permitted Investment Securities means (a) Government Securities, (b) certificates of deposit, commercial paper and short term debt instruments that are readily convertible to cash and (c) freely tradeable debt securities with a debt rating no lower than A granted by S&P or A2 granted by Xxxxx’x for so long as such ratings are maintained.
Permitted Investment Securities means each of the following, to the extent the same is pledged as additional Collateral for the Obligations (including a control or dominion agreement from any applicable Person in favor of the Lender that is in all respects satisfactory to the Lender): (a) readily marketable, direct obligations of the United States of America or any agency or wholly owned corporation thereof which are backed by the full faith and credit of the United States, maturing within one (1) year after the date of acquisition thereof, (b) certificates of deposit, commercial paper (if rated no lower than A-1/P-1) or other short-term direct obligations of (i) JPMorgan or (ii) any other domestic financial institution having capital and surplus in excess of $5,000,000,000, maturing within six months after the date of acquisition thereof, (c) money market funds having aggregate assets in excess of $5,000,000,000, and (d) other Investments mutually agreed to in writing by the Borrower and the Lender. Permitted Liens shall have the meaning ascribed thereto in Section 7.2.
Permitted Investment Securities means (a) readily marketable securities issued or fully guaranteed by the United States of America; (b) commercial paper rated "Prime 1" by Xxxxx'x Investors Service, Inc. or "A 1" by Standard and Poor's Ratings Group, with maturities of not more than 180 days; (c) certificates of deposit or repurchase certificates issued by financial institutions acceptable to the Agent, all of the foregoing not having a maturity of more than one year from the date of issuance thereof; (d) cash and cash equivalents, and (e) securities received in settlement of liabilities created in the ordinary course of business.
Permitted Investment Securities means, on any date, any Cash Equivalents to the extent pledged as additional Collateral pursuant to the Security Documents and on deposit in a Controlled Account.