Qualifying Financial Institution definition

Qualifying Financial Institution means a state or national chartered bank, a state or federal chartered credit union, a state or federal chartered savings and loan association, or savings bank, or an institution under the farm credit act of 1971, Public Law 92-181, 85 Stat. 583.

Qualifying Financial Institution means any bank or financial institution that as part of its business generally receives deposits or other repayable funds and grants credits for its own account.

Qualifying Financial Institution means one or more banks or other financial institutions, each of which, at the time of the execution or transfer of the Qualifying Exchange Agreement, shall have assets of at least 10 billion Dollars and a long term senior unsecured debt rating, from Standard & Poor's and any one of Mxxxx'x, Duff & Pxxxxx or Fitch Investors Services, of at least A+ (single A plus) or equivalent, provided that if any such financial institution is not headquartered in the United States and any applicable rating agency requires such a legal opinion, such financial institution shall provide a standard legal opinion with respect to enforceability of any order or judgment of any court or other governmental or administrative agency obtained in the United States against such financial institution in the jurisdiction where such financial institution is headquartered.

Examples of Qualifying Financial Institution in a sentence

• Nothing herein shall require Landlord to make Yen payments to the Qualifying Financial Institution under the Qualifying Exchange Agreement if the Basic Yen Rents corresponding to such Yen payments have not been paid to Landlord or if such Yen payments have been paid at Landlord's direction to the Qualifying Financial Institution.

• If such conversion would result in a Voluntary Termination Payment, such conversion shall not become effective unless Tenant shall first have paid pursuant to Landlord's direction letter an amount which is equal to the sum of (i) the Voluntary Termination Payment and (ii) the other amounts, if any, required to be paid to the Qualifying Financial Institution under the Qualifying Exchange Agreement as a result of such Voluntary Termination.

• Landlord shall also take no action which will give the Qualifying Financial Institution a right to effect any other early termination of the Qualifying Exchange Agreement.

• Any Lender may at any time assign or transfer all or any of its rights and benefits under the Finance Documents to another bank or other financial institution which is a Qualifying Financial Institution in accordance with this Clause 6.9 but subject always to Clause 18.11 of the Common Terms Agreement.

• Amounts on deposit in the Notes Sinking Fund Account shall at all times be maintained in U.S.$ at a Qualifying Financial Institution, may only be invested in Permitted Foreign Investments and shall be disbursed by the Collateral Agent in accordance with Section 2.3(c).

More Definitions of Qualifying Financial Institution

Qualifying Financial Institution means a financial institution that (i) is domiciled in the United States, the United Kingdom, France or Germany, (ii) is located in New York, New York and (iii) has capital and surplus in excess of U.S.$5,000,000,000.

Qualifying Financial Institution means any commercial bank that is organized under the laws of the United States of America, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company organized under the laws of the United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve System, and has combined capital and surplus of at least $1,000,000,000.

Qualifying Financial Institution means a “bank,” as defined

Qualifying Financial Institution means a bank as defined in section 1 of the Banks Act, 1990, any pension fund or provident fund registered in terms of the Pension Funds Act, 1956, any unit trust scheme as defined in section 1 of the Unit Trusts Control Act, 1981, any long-term insurer as defined in section 1 of the Long-term Insurance Act, 1998, or any short-term insurer being a person registered or deemed (in terms of the Short-Term Insurance Act, 1998) to be registered as a short-term insurer in that statute, or any other entity that the DoE agrees in writing is a Qualifying Financial Institution;

Qualifying Financial Institution means a bank or trust company (i) that is organized as a banking association or corporation under the laws of the U.S. or any state thereof, or of the District of Columbia, (ii) that is subject to supervision or examination by federal, state, or District of Columbia banking authorities, (iii) that has capital and surplus of not less than $250 million, and (iv) the debt securities of which are rated at least "BAA3" by Moodx'x Investor Service, Inc. or "BB+" by Standard & Poor's Corporation.

Qualifying Financial Institution means a financial institution -------------------------------- (i) with capital and surplus in excess of $100,000,000 having a long-term unsecured and senior debt credit rating of at least A (or the equivalent thereof) by Xxxxx'x Investors Service, Inc. and Standard & Poor's or (ii) whose obligations are guaranteed by its parent company if such parent company has credit ratings at least equal to the credit ratings referred to in clause (i) above.

Qualifying Financial Institution means a bank as defined in section 1 of the Banks Act, 1990, any pension fund or provident fund registered in terms of the Xxxxxxx Xxxxx Xxx, 0000, any unit trust scheme as defined in section 1 of the Unit Trusts Control Act, 1981, any long-term insurer as defined in section 1 of the Long-term Insurance Act, 1998, or any short-term insurer being a person registered or deemed (in terms of the Short-Term Insurance Act, 1998) to be registered as a short-term insurer in that statute.