Qualified Letter of Credit means any irrevocable letter of credit issued by a
Qualified Letter of Credit means a letter of credit delivered or to be delivered to the Indenture Trustee in lieu of a deposit of cash or Eligible Investments in the Reserve Account for such Class or Series, which letter of credit shall
Examples of Qualified Letter of Credit in a sentence
Such draw shall be made at such times and under such conditions as the agreement for such Qualified Letter of Credit or such Qualified Insurance shall provide.
Such Qualified Letter of Credit or Qualified Insurance shall not be cancellable on less than one year’s notice.
The Reserve Requirement may be maintained by deposits of cash, a Qualified Letter of Credit or Qualified Insurance, or a combination of the foregoing.
Such draw shall bemade at such times and under such conditions as the agreement for such Qualified Letter of Credit or such Qualified Insurance shall provide.
Any Qualified Letter of Credit or Qualified Insurance shall not be cancelable on less than 30 days’ notice to the City.
More Definitions of Qualified Letter of Credit
Qualified Letter of Credit means any irrevocable letter of credit issued by a bank for the account of the Borough and for the benefit of the owners of Parity Bonds, provided that such bank maintains an office, agency or branch in the United States, and provided further, that, as of the time of issuance of such letter of credit, such bank is rated, at the time such letter of credit is issued, in one of the two highest rating categories (without regard to gradations) by Moody’s Investors Service, Standard & Poor’s Ratings Service, and any other nationally recognized rating agency.
Qualified Letter of Credit means a letter of credit in favor of Xxxxx:
Qualified Letter of Credit means a Letter of Credit (i) issued by a bank or financial institution with a Debt Rating of "A" or higher (or the equivalent), (ii) issued for the benefit of Borrower, and (iii) that is irrevocable, unconditional (other than the presentment of required documents), and drawn on site.
Qualified Letter of Credit means a clean, irrevocable letter of credit acceptable to the Company in its sole discretion, acting reasonably.
Qualified Letter of Credit means any letter of credit issued by a financial institution for the account of the District on behalf of the owners of the Bonds, which institution maintains an office, agency or branch in the United States and as of the time of issuance of such letter of credit, is rated in one of the highest two categories by two nationally recognized rating agencies.
Qualified Letter of Credit. An irrevocable and unconditional letter of credit issued by a domestic bank or the U.S. agency or branch of a foreign bank with a long-term unsecured debt rating of at least “A-” by S&P, and otherwise meeting S&P’s published criteria found in Section 1 of S&P’s “publication entitled “U.S. CMBS Legal and Structured Finance Criteria,” dated as of May 1, 2003, and at least “A3” by Mxxxx’x.
Qualified Letter of Credit means an irrevocable, unconditional, freely transferable, clean sight draft evergreen letter of credit in favor of Lender, with respect to which Borrower has no reimbursement obligation, entitling Lender to draw thereon in New York, New York, issued by a domestic Eligible Institution or the U.S. agency or branch of a foreign Eligible Institution and accompanied by an instrument reasonably acceptable to Lender whereby the applicant/obligor under such letter of credit shall have waived all rights of subrogation against Borrower thereunder.