Qualifying Issuing Bank definition

Qualifying Issuing Bank means a financial institution that is included on the “Bank List” maintained by the National Association of Insurance Commissioners (“NAIC”) pursuant to the Purposes and Procedures Manual of the NAIC Securities Valuation Office (or any replacement thereof or any similar list, or set of eligibility standards, maintained by the NAIC for purposes of determining whether banks are qualified to issue or confirm letters of credit for reinsurance purposes).
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Qualifying Issuing Bank means any bank or financial institution principally based in Canada, France, Germany, Switzerland, Japan, the United Kingdom or the United States (which may be state owned, but may not be the central bank of such country) having a rating on its certificates of deposits of "A2" or higher from Moodx'x Xxxestor Service (or a rating from any other nationally recognized bond rating service equivalent to or better than such a rating) and a combined capital, surplus and undivided profits of at least $500,000,000 (or the equivalent thereof) and which is otherwise reasonably satisfactory to Lessor based upon established credit or country limit policies and like criteria of the Owner Participant.
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Examples of Qualifying Issuing Bank in a sentence

  • With respect to any LOC outstanding at the time a substitute Qualifying Issuing Bank becomes the Issuing Bank hereunder, the existing Issuing Bank shall use reasonable commercial efforts to assist ACE in replacing such existing LOC with a letter of credit issued by the new Issuing Bank.

  • With respect to any Letter of Credit outstanding at the time a substitute Qualifying Issuing Bank becomes an Issuing Bank hereunder, the applicable Issuing Bank shall use reasonable commercial efforts to assist the Borrower in replacing such existing Letter of Credit with a letter of credit issued by the new Issuing Bank.

Related to Qualifying Issuing Bank

  • qualifying issuer means a reporting issuer in a jurisdiction of Canada that

  • Qualifying Bank means any entity, which effectively conducts banking activities as principal purpose with its own infrastructure and staff and which is recognized as a bank by the banking laws in force in the jurisdiction of its incorporation, or if such entity is acting through a branch in a jurisdiction other than the jurisdiction of its incorporation, in the jurisdiction where such branch is located or registered all in accordance with the Swiss Guidelines.

  • Qualifying Lender has the meaning set forth in Section 2.05(a)(v)(D)(3).

  • Qualifying Lenders has the meaning specified in Section 2.05(d)(iv).

  • Issuing Bank means JPMorgan Chase Bank, N.A., in its capacity as the issuer of Letters of Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). The Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

  • LC Issuing Bank means each Lender identified as an “LC Issuing Bank” on Schedule II and any other Lender or Affiliate of a Lender that shall agree to issue a Letter of Credit pursuant to Section 2.04.

  • UK Qualifying Lender means a Lender which is beneficially entitled to interest payable to that Lender in respect of an advance under a Loan Document and is:

  • Fronting Bank means each Lender identified as a “Fronting Bank” on Schedule II and any other Lender (in each case, acting directly or through an Affiliate) that delivers an instrument in form and substance satisfactory to the Borrowers and the Administrative Agent whereby such other Lender (or its Affiliate) agrees to act as “Fronting Bank” hereunder and that specifies the maximum aggregate Stated Amount of Letters of Credit that such other Lender (or its Affiliates) will agree to issue hereunder.

  • Issuing Lender means, with respect to any Letter of Credit, the Lender which agrees or is otherwise obligated to issue such Letter of Credit, determined as provided in subsection 3.1B(ii).

  • U.S. Swingline Lender means JPMorgan Chase Bank, N.A., in its capacity as lender of U.S. Swingline Loans hereunder.

  • Irish Qualifying Lender means a Lender which is beneficially entitled to interest payable to that Lender in respect of an advance under this Agreement and is:

  • LC Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • Canadian Swingline Lender means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as lender of Canadian Swingline Loans hereunder.

  • Issuing Lenders means all such Persons, collectively.

  • Continuing Lender as defined in Section 2.17(a).

  • Initial Issuing Bank has the meaning specified in the recital of parties to this Agreement.

  • Facility Lender Any lender(s) or tax equity financing party providing any Facility Debt and any successor(s) or assigns thereto, collectively.

  • Swing Lender means Xxxxx Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent agrees, in such Lender’s sole discretion, to become the Swing Lender under Section 2.3(b) of the Agreement.

  • Fronting Lender means, as to any Letter of Credit transaction hereunder, Agent as issuer of the Letter of Credit, or, in the event that Agent either shall be unable to issue or shall agree that another Lender may issue, a Letter of Credit, such other Lender as shall agree to issue the Letter of Credit in its own name, but on behalf of the Lenders hereunder.

  • Designated Borrower has the meaning specified in the introductory paragraph hereto.

  • U.S. Revolving Lender means a Lender with a U.S. Revolving Commitment or, if the U.S. Revolving Commitments have terminated or expired, a Lender with U.S. Revolving Exposure.

  • Issuing Lender Fees shall have the meaning set forth in Section 2.5(c).

  • Notifying Lender has the meaning given in Clause 23.1 or Clause 24.1 as the context requires;

  • Revolving Lender means a Lender with a Revolving Commitment or, if the Revolving Commitments have terminated or expired, a Lender with Revolving Exposure.

  • Initial Issuing Banks has the meaning specified in the recital of parties to this Agreement.

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.