Qualifying LC Issuer definition

Qualifying LC Issuer has the meaning assigned to such term in the P1 Accounts Agreement.
Sample 1Sample 2Sample 3
Qualifying LC Issuer means a bank whose long term unsecured and unguaranteed debt is rated by at least one of S&P, Fitch or Moody’s and at least one such rating is equal to or better than “A-” by S&P or Fitch or “A3” by Moody’s and has a combined capital and surplus of at least $1,000,000,000.
Sample 1
Qualifying LC Issuer means an international bank which has a credit rating of A- or higher from Standard & Poor’s or the equivalent or higher rating from Moody’s Investor Service, provided that upon the 2004 Borrower’s request, the 2004 Security Trustee may (acting on the instructions of the Instructing Group, in their sole discretion approve) an international bank as a “Qualifying LC Issuer” in relation to one or more of the letters of credit to be issued hereunder notwithstanding that it fails to meet such minimum credit rating requirement.
Sample 1

Related to Qualifying LC Issuer

  • 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).

  • Qualifying Bank means any legal entity which is recognized as a bank by the banking laws in force in its country of organization and which has as its principal purpose the active conduct of banking business and conducts such banking business through its own personnel (which have decision making authority) and on its own premises.

  • 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:

  • 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:

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

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

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

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

  • 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.

  • Qualifying Facility means an electric energy generating facility that complies with the qualifying facility definition established by PURPA and any FERC rules as amended from time to time (18 Code of Federal Regulations Part 292, Section 292.203 et seq.) implementing PURPA and, to the extent required to obtain or maintain Qualifying Facility status, is self-certified as a Qualifying Facility or is certified as a Qualified Facility by the FERC.

  • qualifying holding means a direct or indirect holding in an undertaking which represents 10 % or more of the capital or of the voting rights or which makes it possible to exercise a significant influence over the management of that undertaking;

  • Qualifying Company means a qualifying company within the meaning of section 110 of the Taxes Act;

  • Qualifying loss means the amount of compensation attributable to a taxpayer’s nonqualified deferred compensation plan, less the receipt of money and property attributable to distributions from the nonqualified deferred compensation plan. Full loss is sustained if no distribution of money and property is made by the nonqualified deferred compensation plan. The taxpayer sustains a qualifying loss only in the taxable year in which the taxpayer receives the final distribution of money and property pursuant to that nonqualified deferred compensation plan.

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

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

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

  • Continuing Lender means with respect to any event described in Section 2.08(b), a Lender which is not a Retiring Lender, and “Continuing Lenders” means any two or more of such Continuing Lenders.

  • 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).

  • Qualifying Institution means the United States office of a commercial bank or trust company organized under the laws of the United States of America or a political subdivision thereof, or a foreign bank, having assets $10,000,000,000 (net of reserves) and a credit rating on its long-term senior unsecured debt of at least "A" from S&P and "A2" from Moody's.

  • Issuing Lenders means all such Persons, collectively.

  • Qualifying child means an individual who:

  • 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 in each instance on behalf of the Lenders hereunder.

  • Continuing Lenders as defined in the recitals hereto.