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 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 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

  • On or before the Acceptance Date, the DBOM Contractor shall establish a separate account (the “Membrane Replacement Account”) with a Qualified Commercial Bank to be agreed between the parties, acting reasonably, into which the DBOM Contractor shall deposit BWS payments of the Annual Membrane Replacement Charge on a monthly basis, which payments shall accrue in the Membrane Replacement Account over the Term, subject to the terms and conditions of this Section.

  • 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.

  • Care must be taken in business activities involving any competitor.

  • Within three Business Days following confirmation by such Qualified Commercial Bank of the establishment of the MRR Account, the DBOM Contractor shall provide to the BWS the details regarding the MRR Account, including the name, address and contact information for the Qualified Commercial Bank and the account number.

  • Upon execution of the Project Agreement, the Project Company will provide an irrevocable direct-pay Letter of Credit to the AOC for the period up to the Design-Build Date, issued by a Qualified Commercial Bank in the amount of $15,000,000, and substantially in the form attached as an exhibit to the Draft Project Agreement.

  • On or before the Acceptance Date, the DBOM Contractor shall establish a separate account (the “MRR Account”) with a Qualified Commercial Bank to be agreed between the parties, acting reasonably, into which the DBOM Contractor shall deposit BWS payments of the Annual Capital Maintenance Charge on a monthly basis, which payments shall accrue in the MRR Account over the Term, subject to the terms and conditions of this Section.


More Definitions of Qualified Commercial Bank

Qualified Commercial Bank means a reputable domestic or foreign commercial bank:
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Qualified Commercial Bank. As defined in Article 8.10.
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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 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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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.

  • Related Commercial Paper means, at any time of determination, Commercial Paper the proceeds of which are then allocated by the Related Funding Agent as the source of funding the acquisition or maintenance of, the Asset Interest.

  • Qualified CFC Holding Company means a Wholly Owned Subsidiary of the Issuer that is a limited liability company, the primary asset of which consists of Equity Interests in either (i) a Foreign Subsidiary or (ii) a limited liability company the primary asset of which consists of Equity Interests in a Foreign Subsidiary.

  • 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.

  • Approved Book-Entry System for Commercial Paper means a system maintained by the Custodian or by a subcustodian employed pursuant to Section 2 hereof for the holding of commercial paper in book-entry form but only if the Custodian has received a certified copy of a resolution of the Board approving the participation by the Trust in such system.

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

  • Pooled Commercial Paper means Commercial Paper notes of a Conduit Purchaser subject to any particular pooling arrangement by such Conduit Purchaser but excluding Commercial Paper issued by a Conduit Purchaser for a tenor and in an amount specifically requested by any Person in connection with any agreement effected by such Conduit Purchaser.

  • 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.

  • 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;

  • Qualified Census Tract means any Census tract which is designated by the Secretary of Housing and Urban Development as having 50 percent or more of the households at an income level which is less than 60 percent of the Area Gross Median Income in accordance with Section 42(d)(5) of the Code.

  • 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 water service provided by the water utility that the customer uses in the promotion of a business or business product that is a source of revenue or income to the customer or others using the premises.

  • Participating Financial Institution means a Financial Institution that has been approved by the Authority to enroll Qualified Loans in the Program and has agreed to all terms and conditions set forth in the Law and this Article and as may be required by any applicable federal law providing matching funding.

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