Qualified Credit Enhancement Provider definition

Qualified Credit Enhancement Provider means a Person who satisfies such requirements except that its long-term unsecured debt rating by any nationally recognized rating agency may be lower than that set forth in such requirements, but shall not be lower than the highest credit rating of any Person who otherwise satisfies said requirements and from whom the Master Servicer is able to obtain such a Credit Enhancement.
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Qualified Credit Enhancement Provider means, (i) if the Credit Enhancement is not Funded Credit Enhancement, an institution that meets the Qualified Credit Enhancement Provider Rating Requirements established by each Rating Agency, which requirements are set forth in the Series Term Sheet if the Initial Credit Enhancement is not Funded Credit Enhancement, or (ii) if the Initial Credit Enhancement is Funded Credit Enhancement, an institution that meets the Qualified Credit Enhancement Provider Rating Requirements established by each Rating Agency, which requirements will be established by the Rating Agencies at the time, if any, that the Master Servicer elects to replace the Initial Credit Enhancement with Credit Enhancement that is not Funded Credit Enhancement (or, in either case, such lesser requirements as the applicable Rating Agency shall allow); provided, however, that in the event the Master Servicer elects to obtain Credit Enhancement that is not Funded Credit Enhancement and is unable after the exercise of its best efforts to obtain from a Qualified Credit Enhancement Provider as so defined such Credit Enhancement with respect to which the representations set forth in Section 11(a) shall be true, the term "Qualified Credit Enhancement Provider" shall mean a Person who satisfies such requirements except that its long-term unsecured debt rating by any nationally recognized rating agency may be lower than that set forth in such requirements, but shall not be lower than the highest credit rating of any Person who otherwise satisfies said requirements and from whom the Master Servicer is able to obtain such a Credit Enhancement.
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Qualified Credit Enhancement Provider means, (i) if the Credit Enhancement is not Funded Credit Enhancement, an institution that meets the Qualified Credit Enhancement Provider Rating Requirements established by each Rating Agency, which requirements are set forth in the Series Term Sheet if the Initial Credit Enhancement is not Funded Credit Enhancement, or (ii) if the Initial Credit Enhancement is Funded Credit Enhancement, an institution that meets the Qualified Credit Enhancement Provider Rating Requirements established by each Rating Agency, which requirements will be established by the Rating Agencies at the time, if any, that the Master Servicer elects to replace the Initial Credit Enhancement with Credit Enhancement that is not Funded Credit Enhancement (or, in either
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More Definitions of Qualified Credit Enhancement Provider

Qualified Credit Enhancement Provider means, (i) if the Credit Enhancement is not Funded Credit Enhancement, an institution that meets the Qualified Credit Enhancement Provider Rating Requirements established by each Rating Agency, which requirements are set forth in the Series Term Sheet if the Initial Credit Enhancement is not Funded Credit Enhancement, or (ii) if the Initial Credit Enhancement is Funded Credit Enhancement, an
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Related to Qualified Credit Enhancement Provider

  • Credit Enhancement Provider means, with respect to any Securities, any person issuing, funding or otherwise making available, for the benefit of Securityholders or any party to a Serviced Corporate Trust Contract, an asset as an enhancement of the credit quality or liquidity of any Securities or the mortgage assets or other assets pledged for or underlying such Securities, such as a letter of credit, surety bond, insurance policy, guaranty, reserve fund pledge or collateral undertaking.

  • Credit Enhancement means, with respect to this Confirmation or any other Relevant Agreement, any credit enhancement or other credit support arrangement in support of the obligations of Dealer or Counterparty hereunder or thereunder or with respect hereto or thereto, including any guarantee or collateral arrangement (including any pledge, charge, mortgage or other security interest in collateral or title transfer arrangement), trust or similar arrangement, letter of credit, transfer of margin or any similar arrangement.

  • Conduit Credit Enhancer shall have the meaning assigned to such term in Section 14(d).

  • Credit Enhancement Agreement means the Agreement among the Sellers, the Master Servicer, the Trustee and the Credit Enhancement Provider with respect to the Credit Enhancement.

  • Credit Enhancer means a financial institution, insurer or other third party which provides a Credit Enhancement or guarantee instrument acceptable to the Corporation securing repayment of the Mortgage Loan or Bonds issued pursuant to the MMRB Program.

  • Credit Enhancements means surety bonds, insurance policies, letters of credit, guarantees and other

  • Enhancement Provider means the Person providing any Enhancement as designated in the applicable Series Supplement.

  • Credit Enhancement Agreements means, collectively, any documents, instruments, guarantees or agreements entered into by the Company, any of its Restricted Subsidiaries, or any Receivables Entity for the purpose of providing credit support for one or more Receivables Entities or any of their respective securities, debt instruments, obligations or other Indebtedness.

  • Credit Enhancement Percentage For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the sum of the aggregate Certificate Principal Balances of the Mezzanine Certificates and the Class CE Certificates, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans, calculated after taking into account distributions of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date.

  • Replacement Provider has the meaning set forth in Section II.D.1.

  • Liquidity Facility Provider means a Person that is a party to a Liquidity Facility with the Authority with respect to specified Bonds and whose credit rating by each nationally recognized Rating Agency then rating the Class I Bonds is sufficiently high to maintain the then current rating on such Bonds by such Rating Agency or the equivalent of such rating by virtue of guarantees or insurance arrangements.

  • Derivative Counterparty means any party to any Derivative Agreement other than the Issuer or the Indenture Trustee.

  • Hedging Agreement Provider means any Person that enters into a Secured Hedging Agreement with a Credit Party or any of its Subsidiaries that is permitted by Section 6.1(d) to the extent such Person is a Lender, an Affiliate of a Lender or any other Person that was a Lender (or an Affiliate of a Lender) at the time it entered into the Secured Hedging Agreement but has ceased to be a Lender (or whose Affiliate has ceased to be a Lender) under the Credit Agreement.

  • Minimum Credit Enhancement Test With respect to any Payment Date, a test that will be satisfied if the Subordinate Percentage is greater than or equal to 6.00%.

  • Replacement Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Credit Provider means a Person providing a guaranty, or other credit support, in form and substance reasonably acceptable to the Administrative Agent, of the obligations of an Included Investor to make Investor Capital Contributions.

  • Series Enhancement means the rights and benefits provided to the Trust or the Investor Certificateholders of any Series or Class pursuant to any letter of credit, surety bond, insurance policy, cash collateral guaranty, subordinated interest in the Trust Assets, cash collateral account, collateral interest, spread account, guaranteed rate agreement, maturity liquidity facility, tax protection agreement, interest rate swap agreement, interest rate cap agreement or other similar arrangement. The subordination of any Series or Class to another Series or Class shall be deemed to be a Series Enhancement.

  • Class B Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Class A Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Collateral Provider means the Security Collateral Provider under a Security Document or the Transferor under a Transfer Annex, according to context, in relation to which “Collateral Taker” means the Secured Party or the Transferee, as the case may be.

  • Liquidity Providers means, collectively, the Class A Liquidity Provider and the Class B Liquidity Provider.

  • Secured Swap Provider means (i) a Lender or an Affiliate of a Lender (or a Person who was a Lender or an Affiliate of a Lender at the time of execution and delivery of a Rate Contract) who has entered into a Secured Rate Contract with Borrower, or (ii) a Person with whom Borrower has entered into a Secured Rate Contract provided or arranged by GE Capital or an Affiliate of GE Capital, and any assignee thereof.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Swap Provider means any Person that, at the time it enters into a Swap Agreement is a Lender or an Affiliate of a Lender, in its capacity as a party to such Swap Agreement.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Subordination Agent Has the meaning specified in the Intercreditor Agreement.