Qualified Guarantor definition

Qualified Guarantor means a guarantor against which an insurer has a direct claim for full and timely payment, evidenced by a contractual right for which an enforcement action can be brought in a domestic jurisdiction; and
Qualified Guarantor means, with respect to a Member, such Member’s Parent or a subsidiary of such Member’s Parent, in each case, so long as such Person is Investment Grade. Quarter – unless the context requires otherwise, means a fiscal quarter of the Company.
Qualified Guarantor means a Person who meets or exceeds the Ratings Limit and otherwise satisfies the criteria for assignment under Section 7 of the Form of Guarantee of Buyer’s Guarantor.

Examples of Qualified Guarantor in a sentence

  • If at any time during the Term of this Agreement, Seller’s Qualified Guarantor experiences a Downgrade Event, then Seller shall deliver to Buyer replacement Credit Support in the form of a Letter of Credit in an amount equal to the amount of the Guaranty that had been utilized as Credit Support within five (5) Business Days of such Downgrade Event.

  • Development Security may be provided in any one or more of the following forms (as determined by Seller): (i) one or more letters of credit issued by Qualified Issuers in a form substantially similar to Appendix I, (ii) a guaranty from a Qualified Guarantor in a form substantially similar to Appendix J, or (iii) any combination thereof; provided that the total of the Development Security shall equal three million seven hundred fifty thousand dollars ($3,750,000).

  • If Seller’s Qualified Guarantor experiences an Upgrade Event, then Seller may, in its discretion, after giving Buyer ten (10) days prior notice, replace the replacement Credit Support that is in the form of a Letter of Credit with a new Guaranty from the Qualified Guarantor, in an amount equal to the applicable amount of Credit Support allowed to be in the form of a Guaranty as determined in Section 6.1(a).

  • If Payment in Advance Option is not elected as described in 4.5a above, Producer shall, within 5 business days of contract execution, provide NYSEG / RG&E with collateral in the amount of $XXXXXX in the form of either an irrevocable standby letter of credit issued by a Qualified Issuer, or a Parent Guarantee issues by a Qualified Guarantor.

  • If at any time the Guarantor fails to maintain its “Investment Grade Rating” (as defined in the Guaranty) or post a letter of credit in lieu thereof in accordance with the terms of the Guaranty, the undersigned shall, within 30 days, cause a new guaranty from a Qualified Guarantor to be executed in a form substantially identical to the Guaranty, together with such legal opinions and other supporting documentation as the City shall reasonably require (the “Substitute Guaranty”).


More Definitions of Qualified Guarantor

Qualified Guarantor means a Person who satisfies the Ratings Limit and who is domiciled in a country with a sovereign rating of ‘AAA.’
Qualified Guarantor means each Material Subsidiary which is a Wholly-Owned Subsidiary of the Parent, organised under the laws of a Qualified Jurisdiction, in each case which has acceded to this Agreement as a Guarantor and executed the required Security Documents in accordance with the requirements of Clause 25.7 (Additional Security and Further Assurances), provided that any Qualified Guarantor shall cease to constitute same at such time, if any, as such Subsidiary ceases to be a Wholly-Owned Subsidiary of the Parent or ceases to be a Material Subsidiary.
Qualified Guarantor means a Person that (a) is formed in, maintains its principal place of business in, and is subject to service of process in, the United States, (b) has all or substantially all of its assets in the United States, (c) has never been indicted or convicted of, or plead guilty or no contest to a Patriot Act Offense and is not on any Government List and (d) at all times that such Person is acting as a Qualified Guarantor maintains an Investment Grade rating from each of the Rating Agencies that rates such Person (and in any event from at least two (2) of the Rating Agencies).
Qualified Guarantor means a guarantor
Qualified Guarantor means any Affiliate (as defined in the Amended Credit Documents) of the Plan Debtor having a minimum net worth of $250 million as calculated immediately after the date that such Affiliate emerges from bankruptcy.
Qualified Guarantor means a Person who satisfies the Ratings Limit and who is domiciled in a country with a sovereign rating of “AAA” by S&P and “Aaa” by Moody’s.
Qualified Guarantor means a guarantor, reasonably acceptable to Buyer, that has a current long-term credit rating (corporate or long term senior unsecured debt) of at least A- by Standard & Poor’s and A3 by Moody’s Investors Service, Inc.