Qualified Commercial Bank definition

Qualified Commercial Bank means (i) a domestic bank or (ii) subject to the BWS’s approval, acting reasonably, an international bank (or a subsidiary thereof) that is licensed in the United States of America:
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Qualified Commercial Bank. As defined in Article 8.10.
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Qualified Commercial Bank has the meaning set forth in subsection 14.3(A). “Rating Service” means Xxxxx’x or Standard & Poor’s.
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Examples of Qualified Commercial Bank in a sentence

  • The Contractor’s obligations of payment and performance under this Agreement and the Parent Company Guaranty shall be secured by a Letter of Credit issued by a Qualified Commercial Bank.


More Definitions of Qualified Commercial Bank

Qualified Commercial Bank means a commercial bank which satisfies the eligibility criteria set out in paragraph 5 of Schedule 4 to this Loan Agreement;
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Qualified Commercial Bank means a domestic commercial bank or a foreign bank with a U.S. branch, whose long-term debt is rated “A3” or higher by Moody’s Investors Service, Inc., rated “A-” or higher by Fitch, Inc. or rated “A-” or higher by Standard & Poor’s Ratings Services, Inc. (if there is a split rating, the lowest of the three shall apply), and which is a bank organized and existing under the laws of the United States, is subject to federal and State banking regulatory jurisdiction and maintains banking operations in the State of Florida.
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Qualified Commercial Bank means a domestic commercial bank or other domestic financial institution having a combined capital and surplus of at least Five Hundred Million Dollars ($500,000,000).
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Qualified Commercial Bank means a domestic commercial bank whose long term debt is rated “A2” or higher by Moody’s, “A” or higher by Fitch, Inc. or “A” or higher by Standard & Poor’s (if there is a split rating, the lower of the three shall apply), and which is a bank organized and existing under the laws of the United States and has an office in New York State within 80 miles of the Facility. At the time the Contractor has knowledge that the Tangible Net Worth of the Guarantor has fallen below $150 million dollars, the Contractor shall promptly notify the Agency, and within twenty (20) days after delivery of such notice also supply the Agency a Step-Up Letter of Credit from a Qualified Commercial Bank. Such Step-Up Letter of Credit shall remain in effect until the Contractor can demonstrate to the reasonable satisfaction of the Agency that the Guarantor’s Tangible Net Worth has increased above $150 million and remained above $150 million for at least 365 continuous days, at which time the Contractor is no longer required to have a Step-Up Letter of Credit and the Agency shall promptly return to the Contractor the Step- Up Letter of Credit, provided, however, that another Step-Up Letter of Credit shall be required in accordance with this Article 8.10 if and when the Tangible Net Worth of the Guarantor again falls below $150 million.
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Qualified Commercial Bank means a reputable domestic or foreign commercial bank:
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Related to Qualified Commercial Bank

  • Approved Commercial Bank means a commercial bank with a consolidated combined capital and surplus of at least $5,000,000,000.

  • Scheduled Commercial Bank means any bank included in the second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934).

  • Commercial Bank means a bank, defined as a scheduled bank under section 2(e) of the Reserve Bank of India Act, 1934.

  • Qualified company means a For- eign Issuer whose securities are quali- fied for investment on a tax-deferred basis by a Canadian Retirement Ac- count under Canadian law.

  • Qualified city means a city that has incorporated an authority under the municipal lighting authority act, 2012 PA 392, MCL 123.1261 to 123.1295.

  • Licensed financial institution means a financial institution issued a license under this act.

  • specified company means a company as referred to in clause (h) of section 2 of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002.

  • Approved Financial Institution means any bank approved by Exchange in accordance with its credit review procedures or policies;

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • Security Management Plan means the Supplier's security management plan prepared pursuant to paragraph 3 of schedule 2 an outline of which is set out in paragraph 2.7 of the Order Form as updated from time to time;

  • Techno-Commercial Bid means proposal submitted by the Bidder in accordance with Clause 8.15.1;

  • Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

  • Designated Financial Institution shall have the meaning specified in Section 14.12(a).

  • approved blood scheme means a scheme established or approved by the Secretary of State, or trust established with funds provided by the Secretary of State, for the purpose of providing compensation in respect of a person having been infected from contaminated blood products;

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • regulated financial institution means a state or nationally chartered bank, savings and loan association or savings bank, credit union, trust company, or other state or federally chartered lending institution or a regulated affiliate or regulated subsidiary of any of these entities.

  • Qualified United States financial institution means an institution that:

  • Holding Company means, in relation to a company or corporation, any other company or corporation in respect of which it is a Subsidiary.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Commercial Service means service to Customers engaged primarily in the sale of goods or services including institutions and local, sate and federal government agencies for uses other than those involving manufacturing or electric power generation.

  • Participating Financial Institution means a financial institution participating in Interac e-Transfer Services, Online Payment Services, or Western Union Services, as the case may be.

  • qualified U.S. Bank means a qualified U.S. bank as defined in Rule 17f-5 under the Investment Company Act of 1940;