Reserve Fund Credit Facility Issuer definition

Reserve Fund Credit Facility Issuer means, at the time at which such Reserve Fund Credit Facility is purchased, an issuer of a Reserve Fund Credit Facility that has a credit rating not lower than the rating on any Bonds to be secured thereby from each Rating Agency that rates both such issuer and such Bonds.

Reserve Fund Credit Facility Issuer means the issuer of a Reserve Fund Credit Facility rated in the highest rating category by each Rating Agency that rates such Reserve Fund Credit Facility Issuer;

Reserve Fund Credit Facility Issuer means, with respect to the Outstanding Parity Bonds, the issuer of a Reserve Fund Credit Facility rated in the highest rating category by Standard & Poor's Rating Group, if rated by Standard & Poor's, and Moody's Investors Service, Inc., if rated by Moody's and, A.M. Best & Company, if rated by A.M. Best & Company and with respect to the Series 2011 Bonds, Series 2012 Bonds and future Parity Bonds the issuer of a Reserve Fund Credit Facility rated in one of the three highest rating categories (without regard to gradations within such categories) by a Rating Agency that rates the Reserve Fund Credit Facility Issuer.

Examples of Reserve Fund Credit Facility Issuer in a sentence

• The Reserve Fund Credit Facility Issuer shall receive notice of the resignation or removal of the Registration Agent and the appointment of a successor thereto.

• If the District shall fail to pay when due all amounts payable under any Financial Guaranty Agreement, the Reserve Fund Credit Facility Issuer shall be entitled to exercise any and all remedies available at law or under this Resolution other than remedies that would adversely affect owners of Bonds.

• International trade negotiations require more than just legal expertise.

• At any time during the term hereof, the District shall have the right and option to substitute a new Reserve Fund Credit Facility or Facilities for any Reserve Fund Credit Facility or Facilities previously delivered, upon notice to the Registration Agent and the Reserve Fund Credit Facility Issuer or Issuers and delivery of a Reserve Fund Credit Facility or Facilities in substitution therefor.

• If the Municipality shall fail to pay when due all amounts payable under any Financial Guaranty Agreement, the Reserve Fund Credit Facility Issuer shall be entitled to exercise any and all remedies available at law or under the Resolution other than remedies that would adversely affect owners of Bonds.

• Tonga commended the work completed by the WRU and noted the timely intervention in regard to water short- age problems in the Ha’apai Group, and asked if the Secretariat had any plans to address the continuing problem and to extend their desalination activities.

• If a disbursement is made by demand on a Reserve Fund Credit Facility, the Municipality, from Revenues after payment of Current Expenses and required deposits to the Bond Fund, shall reimburse the Reserve Fund Credit Facility Issuer for all amounts advanced under the Reserve Fund Credit Facility (pro rata, if more than one Reserve Fund Credit Facility), including all amounts payable under any Financial Guaranty Agreement or Agreements, and then replenish the Reserve Fund as provided herein.

• At any time during the term of the Resolution, the District shall have the right and option to substitute a new Reserve Fund Credit Facility or Facilities for any Reserve Fund Credit Facility or Facilities previously delivered, upon notice to the Registration Agent and the Reserve Fund Credit Facility Issuer or Issuers and delivery of a Reserve Fund Credit Facility or Facilities in substitution therefor.

• In the event the President elects to fund the Reserve Fund with a Reserve Fund Credit Facility, he is authorized to execute a Financial Guaranty Agreement and any associated certificates and agreements, as may be required by the Reserve Fund Credit Facility Issuer.

• If the District shall fail to pay when due all amounts payable under any Financial Guaranty Agreement, the Reserve Fund Credit Facility Issuer shall be entitled to exercise any and all remedies available at law or under the Resolution other than remedies which would adversely affect owners of the Bonds.

More Definitions of Reserve Fund Credit Facility Issuer

Reserve Fund Credit Facility Issuer means the issuer of a Reserve Fund Credit Facility that is, at the time such Reserve Fund Credit Facility is procured by the Issuer, assigned a financial strength rating of at least "AA-" by S&P or "Aa3" by Moody's.

Reserve Fund Credit Facility Issuer means the issuer of a Reserve Fund Credit Facility rated in one of the three highest rating categories (without regard to gradations within such categories) by a Rating Agency that rates the Reserve Fund Credit Facility Issuer.

Reserve Fund Credit Facility Issuer means an issuer which issues a Reserve Fund Credit Facility.

Reserve Fund Credit Facility Issuer means the issuer of a Reserve Fund Credit Facility satisfying the rating qualifications specified by the supplemental resolution authorizing the Bonds to be secured by the applicable Reserve Fund Credit Facility with respect to the series of Bonds with respect to which such rating qualifications are not otherwise specified. The issuer of a Reserve Fund Credit Facility shall be rated, at the time at which such Reserve Fund Credit Facility is purchased, in not less than the second-highest rating category (without regard to gradations within such category) by each Rating Agency that rates such Reserve Fund Credit Facility Issuer and which also rates any Bonds secured by such Reserve Fund Credit Facility.

Reserve Fund Credit Facility Issuer means the issuer of a Reserve Fund Credit Facility rated in the second-highest rating category (without regard to gradations within such category) by each Rating Agency that rates such Reserve Fund Credit Facility Issuer and which also rates any Bonds secured by such Reserve Fund Credit Facility, measured at the time the Reserve Fund Credit Facility is issued.