Special Limit means, for any Obligor so long as such Obligor’s long term unsecured, non-third party credit enhanced, senior indebtedness is rated at least A (or its equivalent) by S&P and at least A2 (or its equivalent) by Moody’s, 5% of the amount of Aggregate Net Investment then outstanding, unless the Agent, in its discretion or at the direction of an Instructing Group, notifies the Seller of a different limit.
Special Limit means as shall be agreed to in writing by the Agent (with the consent of the Purchaser) for certain Obligors from time to time.
Special Limit means, (i) for National Rx, Inc. ("National Rx"), a wholly owned subsidiary of Merck-Medco Managed Care, Inc., a wholly owned subsidiary of Merck & Co., Inc. ("Merck"), 15% of the Eligible Receivables Balance, provided, however, that such Special Limit shall be automatically deemed revoked (A) at the time, if any, when Merck ceases to have a short-term unsecured senior debt rating of higher than "A-2" from S&P and a short-term unsecured senior debt rating of higher than "P-2" from Moody's or (B) National Rx shall cease at any time to be, directly or indirectly, a wholly owned subsidiary of Merck, (ii) for Longs Drug Stores Corporation ("Longs"), 10% of the Eligible Receivables Balance; provided, however, that such Special Limit shall be automatically deemed revoked at the time, if any, when the sum of Delinquent Receivables and Defaulted Receivables to Longs exceeds 50% of the total outstanding balance of Receivables to Longs, unless in the case of either (i) or (ii), the Agent, at the direction of the Instructing Group, notifies the Seller of a different limit, (iii) for Walgreen Company, 12% of the Eligible Receivables Balance; provided, however, that such Special Limit shall be deemed automatically revoked at any time, if any, when Walgreen Company ceases to have a short-term unsecured senior debt rating of higher than "A-2" from S&P and a short-term unsecured senior debt rating of higher than "P-2" from Moody's, and (iv) such other "Special Limits" as shall be agreed to in writing by the Instructing Group for other Obligors from time to time and approved by the required Rating Agencies. If the Special Limit for National Rx is revoked as indicated in subsection (i)(A) of this definition, the Concentration Limit for National Rx will be based on the Merck short-term unsecured senior debt ratings and the associated Concentration Limits in the table appearing in such definition. If the Special Limit for National Rx is revoked as indicated in subsection (i)(B) of this definition, the Concentration Limit for National Rx will be based on the short-term unsecured senior debt ratings of National Rx and the associated Concentration Limits in the table appearing in such definition. If the Special Limit for any other Obligor is revoked at any time, such Obligor's Concentration Limit will be based on its short-term unsecured senior debt rating per the table appearing in the definition of "Concentration Limit."
Examples of Special Limit in a sentence
The services provided by this subsection are included and not in addition to any applicable Covered Item Limit or Special Limit.
Such LTD supplement shall equal the monthly amount by which such Participant's disability benefit under the LTD Plan was less because of the application of the Salary Deferral Limit and the IRS Special Limit.
Use Increase Limit For Specified Property Subject To Special Limit Of Insurance En- dorsement CR 35 04.
Therefore, in the event such a Participant becomes eligible for and begins to receive a disability benefit from the LTD Plan and the amount of such disability benefit is limited because of the application of the Salary Deferral Limit or the IRS Special Limit, a "make whole" disability benefit shall be paid from this Plan as a supplement to the disability limit paid from the LTD Plan.
However, this Exclusion shall not apply to any such property for which a Special Limit is specified in the Schedule.
More Definitions of Special Limit
Special Limit means, with respect to the City of Kansas City, Missouri, 5% of the Eligible Receivables Balance.
Special Limit means $5.0 million; and (iii) the value of the Change in Control Benefits shall be the gross amount of salary continuation and bonus continuation, the gross spread on stock options that would vest as a part of the Change in Control Benefits, and the gross value of restricted stock and other awards (other than stock options) that would vest as a part of the Change in Control Benefits. Measures of value of stock options, restricted stock and other awards will be taken at fair market value on the date of termination of employment.
Special Limit means (x) for each of PL Subsidiary, Inc. and its Affiliates, Azteca Production International, Inc. and its Affiliates, Kentucky Apparel, LLP and its Affiliates, and Koo's Manufacturing, Inc. and its Affiliates, 4% and (y) collectively for Levi Xxxxxxx, Xxxx Xxxxxxx Canada, and Levi Xxxxxxx Europe (collectively, the "Levi Xxxxxxx Obligors") and as of any date of determination thereof, (i) 15% if the Levi Xxxxxxx Fixed Charge Coverage Ratio at such time is greater than 1.40:1.00, (ii) 10% if the Levi Xxxxxxx Fixed Charge Coverage Ratio at such time is greater than 1.25:1.00 but less than or equal to 1.40:1.00, or (iii) 5% if the Levi Xxxxxxx Fixed Charge Coverage Ratio at such time is less than or equal to 1.25:1.00. Notwithstanding any of the foregoing, (i) if and for so long as more than 50% in aggregate Outstanding Balance at any one time of the aggregate Receivables owed by the Levi Xxxxxxx Obligors are greater than 60 days past their respective Maturity Dates or 90 days past their respective original invoice dates, the Special Limit shall not exceed 10%, and (ii) the Special Limit for the Levi Xxxxxxx Obligors thereafter shall not exceed 10% from and after the 30th day prior to the expiration date of the Credit Facility as then in effect unless and until (a) the Credit Facility as then in effect has been extended for a period acceptable to the Purchaser, the Operating Agent and the Collateral Agent or refinanced on terms acceptable to the Purchaser, the Operating Agent and the Collateral Agent or (b) Cone Xxxxx shall have obtained a legally binding written commitment for such refinancing or extension on terms acceptable to the Purchaser, the Operating Agent and the Collateral Agent, and in either such case with the Credit Facility Lenders or with another lender or lenders acceptable to the Purchaser, the Operating Agent and the Collateral Agent. The Special Limit may be changed at any time at the sole discretion of the Operating Agent and, in the case of an increase only, upon satisfaction of the Rating Agency Condition with respect thereto.
Special Limit means (i) an amount not to exceed 35% of the aggregate outstanding principal balance of all Eligible Receivables for Special Obligors with unsecured debt ratings of at least "A-" and "A3" by S&P and Moody's, respectively, (ii) an amount not to exceed 15% of the aggregxxx xxxstanding principal balance of all Eligible Receivables for Special Obligors with unsecured debt ratings of at least "BBB+" and "Baa1" but less than "A-" and "A3" by S&P and Moody's, respectively, (iii) an amount not to exceed 10% of the aggrexxxx xxtstanding principal balance of all Eligible Receivables for Special Obligors with unsecured debt ratings of at least "BBB" and "Baa2" but less than "BBB+" and "Baa1" by S&P and Moody's, respectively, (iv) an amount not to exceed 7.5% of the aggrexxxx xxtstanding principal balance of all Eligible Receivables for Special Obligors with unsecured debt ratings of at least "BBB-" and "Baa3" but less than "BBB" and "Baa2" by S&P and Moody's, respectively, and (v) an amount not to exceed 2.5% of the agxxxxxxx outstanding principal balance of all Eligible Receivables for Special Obligors with unsecured debt ratings of below "BBB-" and "Baa3" by S&P and Moody's, respectively; provided, however, that if any Special Obligor xx xxx rated by either S&P or Moody's, the applicable Concentration Limit shall be 2.5%.
Special Limit means, (i) with respect to VF Corporation as long as such Person's (a) long term unsecured debt rating is at least "BBB" from S&P and (b) long-term unsecured debt rating is at least "Baa2" from Xxxxx'x, 26%, (ii) with respect to Xxxxx Enterprises, Inc., as long as such Person is unrated by both S&P and Xxxxx'x, 10%, (iii) with respect to Xxxxxxxxxx-Xxxxxx Manufacturing Company, as long as such Person is unrated by both S&P and Xxxxx'x, 10%, (iv) with respect to Xxxx Xxxxxx & Co. as long as such Person's (a) long term unsecured debt rating is at least "CCC" from S&P and (b) long-term unsecured debt rating is at least "Ca" from Xxxxx'x, 10.0%, (v) with respect to Haggar Company, Inc., as long as such Person is unrated by both S&P and Xxxxx'x, 7.5%, and (vi) with respect to any other Person, such percentage as may be specified by the Administrative Agent; provided, however, that each of the percentages contained in the foregoing definition may be changed at any time by the Administrative Agent; provided, further, that, as long as no Termination Event has occurred, the Administrative Agent shall give advance written notice to the Seller with respect to each such modification."
Special Limit means, (i) with respect to Ford Motor Company as long as such Person's (a) short-term unsecured debt rating is at least "A-2" from S&P and (b) long-term unsecured debt rating is at least "A3" from Moody's, 20%, (ii) with respect to General Motors Coxxxxxxxxx as lonx xx xxch Person's short-term unsecured debt rating is at least "A-2" from S&P and as least "P-2" from Moody's, 15%, (iii) with respect to Marion Industries, Inc., 10%, anx (xx) with respect to any other Perxxx, xubject to satisfaction of the Rating Agency Condition, such percentage as may be specified by the Administrative Agent using its good faith and commercially reasonable credit judgment following a detailed analysis of the Transferred Receivables (or upon receipt of additional information with respect thereto); PROVIDED, HOWEVER, that each of the percentages contained in the foregoing definition may be changed at any time by the Administrative Agent, using its good faith and commercially reasonable credit judgment following a detailed analysis of the Transferred Receivables (or upon receipt of additional information with respect thereto), and, in the case of an increase only, upon satisfaction of the Rating Agency Condition with respect thereto; PROVIDED, FURTHER, that, as long as no Termination Event has occurred, the Administrative Agent shall give advance written notice to the Seller with respect to each such modification.
Special Limit or "Termination Event", (G) amend or modify any defined term (or any defined term used directly or indirectly in any such defined term) used in clauses (A) through (F) above in any manner that would circumvent the intention of the restrictions set forth in such clauses, or (H) otherwise materially affect the rights of any Purchaser or Purchaser Agent hereunder.