Permitted issuer definition
Permitted issuer means: (1) a corporation organized and owned by the converting mutual company or by any other insurance company or insurance holding company for the purpose of purchasing and holding securities representing a majority of voting control of the reorganized company; (2) a stock insurance company owned by the converting mutual company or by any other insurance company or insurance holding company into which the converting mutual company will be merged; or (3) any other corporation approved by the commissioner.
Permitted issuer means Crown Holdings, Crown International, U.S. Borrower, Crown Finance or Crown Finance II or any direct special purpose finance Subsidiary of any of the foregoing formed solely to be the issuer of any Permitted Capital Markets Debt provided that such Person becomes a Credit Party and the Credit Parties comply with Section 7.14 with respect to such special finance Subsidiary.
Permitted issuer means Crown Holdings, Crown International, Crown Usco or Crown Finance or any direct special purpose finance Subsidiary of any of the foregoing formed solely to be the issuer of any Permitted Public Debt provided that such Person becomes a Credit Party and Section 7.14 of the Credit Agreement is complied with respect to such special finance Subsidiary; provided, that with respect to any Permitted Public Debt issued to refinance the First Lien Notes or the Existing Unsecured Debt listed in clause (ii) of the definition of Existing Unsecured Debt, Permitted Issuer means a Parent Guarantor (other than CCSC), U.S. Borrower, Crown Finance or European Borrower or any direct special purpose finance Subsidiary of any of the foregoing formed solely to be the issuer of any Permitted Public Debt provided that such Person becomes a Credit Party and Section 7.14 of the Credit Agreement is complied with respect to such special finance Subsidiary.
More Definitions of Permitted issuer
Permitted issuer means any Parent Guarantor (other than CCSC), Crown Euroco or Crown Usco or any direct special purpose finance subsidiary thereof formed solely to be the issuer of any Refinancing Plan Indebtedness; provided that such person becomes a Loan Party and complies with Section 5.11 of the Credit Agreement and becomes a Pledgor hereunder in compliance with Section 23.
Permitted issuer means Crown Holdings, Crown International, U.S. Borrower or Crown Finance or any direct special purpose finance Subsidiary of any of the foregoing formed solely to be the issuer of any Permitted Public Debt provided that such Person becomes a Credit Party and Section 7.14 is complied with with respect to such special finance Subsidiary; provided, that with respect to any Permitted Public Debt issued to refinance the First Lien Notes or the CCSFPLC 2006 Notes, Permitted Issuer means a Parent Guarantor (other than CCSC), U.S. Borrower, Crown Finance or European Borrower or any direct special purpose finance Subsidiary of any of the foregoing formed solely to be the issuer of any Permitted Public Debt provided that such Person becomes a Credit Party and Section 7.14 is complied with with respect to such special finance Subsidiary.
Permitted issuer means a financial institution which (a) is a national association or bank chartered by the United States or in one of the states of the United States, in either case, the accounts of which are FDIC insured, or a foreign bank incorporated in any jurisdiction governed by the Organization for Economic Cooperation and Development, (b) has a minimum capital and surplus of $500 million, and (c) maintain at all times until the L/C Termination Date a branch office in California or Connecticut at which Landlord may draw on the Letter of Credit (and if at any time such Permitted Issuer fails to meet these conditions, Tenant shall within ten (10) days thereafter deliver to Landlord a substitute Letter of Credit meeting the requirements of this Section 33 issued by a Permitted Issuer). If Tenant does not provide Landlord with a substitute Letter of Credit complying with all of the requirements hereof at least ten (10) days before the stated expiration date (except the L/C Termination Date (as hereinafter deemed)) of the current Letter of Credit, Landlord shall have the right to draw upon the current Letter of Credit and hold the funds drawn as the Security Deposit, subject to the provisions of this Section 33. In the event Landlord obtains a final, nonappealable judgment against Tenant in connection with any Default by Tenant under this Lease (a "Final Judgment"), which Final Judgment is not satisfied by Tenant in full within five (5) days after the same becomes final and nonappealable, Landlord shall be entitled to draw upon the Letter of Credit (or use the proceeds of the Letter of Credit if they are then held by Landlord as a result of Tenant's failure to renew the Letter of Credit before the stated expiration date as provided herein) and use such amount to satisfy such Final Judgment. As a requirement for such draw on the Letter of Credit Landlord shall only be obligated to deliver the Letter of Credit to the Permitted Issuer, certify under penalty of perjury to the Permitted Issuer that Landlord has obtained a Final Judgment which has not been satisfied in full by Tenant and deliver to the Permitted Issuer a certified copy of the Final Judgment as entered in the applicable court records. At the end of the fifth Lease Year the face amount of the Letter of Credit shall be reduced to $10,000,000 if (a) no Default has then occurred and is continuing, and (b) Tenant's then most recent Financial Statement shows Tenant's equity to be not less than $25,000,000. At the en...
Permitted issuer means Crown International, Crown Holdings, U.S. Borrower or Crown Finance or any direct special purpose finance Subsidiary of any of the foregoing formed solely to be the issuer of any Permitted Public Debt provided that such Person becomes a Credit Party and Section 7.14 of the Credit Agreement is complied with with respect to such special finance Subsidiary; provided, that with respect to any Permitted Public Debt issued to refinance the First Lien Notes or the Existing Unsecured Debt listed in clause (i) of the definition of Existing Unsecured Debt (as defined in the Credit Agreement), Permitted Issuer means a Parent Guarantor (other than CCSC), U.S. Borrower, Crown Finance or European Borrower or any direct special purpose finance Subsidiary of any of the foregoing formed solely to be the issuer of any Permitted Public Debt provided that such Person becomes a Credit Party and Section 7.14 of the Credit Agreement is complied with with respect to such special finance Subsidiary.