Qualified Obligor definition

Qualified Obligor means and include each Obligor organized in England and Wales or Australia.
Sample 1
Qualified Obligor means the Parent, the Company and each wholly-owned Guarantor that is organised under the laws of the United States or any state thereof or the laws of England and Wales.
Sample 1
Qualified Obligor means and include each Qualified U.S. Obligor and each Qualified Canadian Obligor.
Sample 1

Examples of Qualified Obligor in a sentence

  • No Credit Agreement Party nor any other Credit Party shall make any payment to a creditor of any Unrestricted Subsidiary or any other Subsidiary which is not a Qualified Obligor in respect of any liability of any such Person, and no bank account of any Unrestricted Subsidiary or any other Subsidiary which is not a Qualified Obligor shall be commingled with any bank account of the Canadian Parent or any other Subsidiary thereof.

  • Subject to the preceding sentence, each Qualified Obligor shall suspend the operation of all Cash Pooling Accounts maintained by such Qualified Obligor for the duration of any Dominion Period.

  • Upon the commencement of a Dominion Period, each Qualified Obligor shall cause the net aggregate positive cash balance (if any) of all Cash Pooling Accounts maintained by such Qualified Obligor as on such date, as well as any cash which is subsequently deposited into any such Cash Pooling Accounts during any Dominion Period, to be transferred within one Business Day to a Core Concentration Account, as applicable.


More Definitions of Qualified Obligor

Qualified Obligor means, as of any date, an Obligor (a) which is formed under the laws of the U.S. or any state thereof and (b) (i) if such Obligor has a financial strength rating from at least two of Standard & Poor’s, Moody’s, Fitch and A.M. Best, such Obligor has at least two financial strength ratings that are equivalent to (or better than) (1) “A-” from Standard & Poor’s (if rated by Standard & Poor’s), (2) “A3” from Moody’s (if rated by Moody’s), (3) “A-” from Fitch (if rated by Fitch) or (4) “B++” from A.M. Best (if rated by A.M. Best) or (ii) otherwise, such Obligor has a financial strength rating from one of Standard & Poor’s, Moody’s, Fitch and A.M. Best and such financial strength rating is equivalent to (or better than) (1) “A-” from Standard & Poor’s (if rated by Standard & Poor’s), (2) “A3” from Moody’s (if rated by Moody’s), (3) “A-” from Fitch (if rated by Fitch) or (4) “B++” from A.M. Best (if rated by A.M. Best); provided, that, notwithstanding the foregoing, solely for purposes of clause (iv) of the definition of “Eligible Annuity”, an Obligor shall be deemed to satisfy the requirements of this clause (b) if (x) it has a financial strength rating of “B++” from A.M. Best and (y) it does not have financial strength rating of “BBB” (or lower) from Standard & Poor’s, “Baa2” (or lower) from Moody’s or “BBB” (or lower) from Fitch.
Sample 1
Qualified Obligor means and include each Obligor organized in England and Wales, Australia or France; provided that (x) no Person organized in such jurisdiction shall be a Qualified Obligor until such Person has delivered, or caused to be delivered, appraisals of Inventory and a collateral examination of its Accounts and Inventory to the Administrative Agent, in each case, in scope reasonably satisfactory to the Agents, and the results of such appraisal and collateral examination shall be in form and substance reasonably satisfactory to the Agents and (y) Obligors in France shall not be a Qualified Obligor unless the French Borrowing Base Trigger Date shall have occurred.
Sample 1

Related to Qualified Obligor

  • Specified Obligor an Obligor that is not then an “eligible contract participant” under the Commodity Exchange Act (determined prior to giving effect to Section 5.11).

  • Excluded Obligor means an Obligor so designated in writing as such by the Agent or the Majority Purchasers in a notice to the Seller in good faith and in the Agent’s or the Majority Purchasers’ reasonable judgment relating to credit considerations from time to time, it being understood that from time to time such designation may be revoked by written notice to the Seller.

  • Designated Obligor means an Obligor indicated by the Agent to Seller in writing.

  • Qualified ECP Loan Party means each Loan Party that on the Eligibility Date is (a) a corporation, partnership, proprietorship, organization, trust, or other entity other than a “commodity pool” as defined in Section 1a(10) of the CEA and CFTC regulations thereunder that has total assets exceeding $10,000,000, or (b) an Eligible Contract Participant that can cause another person to qualify as an Eligible Contract Participant on the Eligibility Date under Section 1a(18)(A)(v)(II) of the CEA by entering into or otherwise providing a “letter of credit or keepwell, support, or other agreement” for purposes of Section 1a(18)(A)(v)(II) of the CEA.

  • Qualified Operator means a Person that has at least five (5) years’ experience operating power generation and storage facilities generally similar to the Facility.

  • Qualified Originator means an originator of Mortgage Loans which is acceptable under the Underwriting Guidelines.

  • Eligible Guarantor means an entity that (A) has credit ratings at least equal to the Approved Ratings Threshold or (B) has credit ratings at least equal to the Required Ratings Threshold, provided, for the avoidance of doubt, that an Eligible Guarantee of an Eligible Guarantor with credit ratings below the Approved Ratings Threshold will not cause a Collateral Event (as defined in the Credit Support Annex) not to occur or continue.

  • Qualified ECP Guarantor means, at any time, each Loan Party with total assets exceeding $10,000,000 or that qualifies at such time as an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible contract participant” at such time under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

  • Group D Obligor means any Obligor that is not a Group A Obligor, Group B Obligor or Group C Obligor.

  • Qualified Affiliate means an Affiliate of a Lender who has executed and delivered to the Administrative Agent an instrument of adhesion in the form set forth in Schedule J.

  • Qualified Bank means a U.S. commercial bank or the U.S. branch office of a foreign bank, in either case, having (x) assets on its most recent audited balance sheet of at least $10,000,000,000 and (y) a rating for its senior long-term unsecured debt obligations of at least (A) “A-” by S&P and “A3” by Moody’s, if such entity is rated by both S&P and Moody’s or (B) “A-” by S&P or “A3” by Moody’s, if such entity is rated by either S&P or Moody’s but not both.

  • Qualified GIC A guaranteed investment contract or surety bond providing for the investment of funds in the Custodial Account and insuring a minimum, fixed or floating rate of return on investments of such funds, which contract or surety bond shall:

  • Disqualified Non-U.S. Tax Person With respect to a Class R Certificate, any Non-U.S. Tax Person or agent thereof other than (i) a Non-U.S. Tax Person that holds the Class R Certificate in connection with the conduct of a trade or business within the United States and has furnished the transferor and the Certificate Registrar with an effective IRS Form W-8ECI or (ii) a Non-U.S. Tax Person that has delivered to both the transferor and the Certificate Registrar an opinion of a nationally recognized tax counsel to the effect that the transfer of the Class R Certificate to it is in accordance with the requirements of the Code and the regulations promulgated thereunder and that such transfer of the Class R Certificate will not be disregarded for federal income tax purposes.

  • Group A Obligor means any Obligor (or its parent or majority owner, as applicable, if such Obligor is not rated) with a short-term rating of at least: (a) “A-1” by S&P, or if such Obligor does not have a short-term rating from S&P, a rating of “A+” or better by S&P on such Obligor’s, its parent’s, or its majority owner’s (as applicable) long-term senior unsecured and uncredit-enhanced debt securities, or (b) “P-1” by Moody’s, or if such Obligor does not have a short-term rating from Moody’s, “Al” or better by Moody’s on such Obligor’s, its parent’s or its majority owner’s (as applicable) long-term senior unsecured and uncredit-enhanced debt securities; provided, that if an Obligor (or its parent or majority owner, as applicable, if such Obligor is not rated) receives a split rating from S&P and Moody’s, then such Obligor (or its parent or majority owner, as applicable) shall be deemed to have only the lower of the two rating for the purpose of determining whether such rating satisfies clauses (a) or (b) above. Notwithstanding the foregoing, any Obligor that is a Subsidiary of an Obligor that satisfies the definition of “Group A Obligor” shall be deemed to be a Group A Obligor and shall be aggregated with the Obligor that satisfies such definition for the purposes of determining the “Concentration Reserve Percentage”, the “Concentration Reserve” and clause (a) of the definition of “Excess Concentration” for such Obligors, unless such deemed Obligor separately satisfies the definition of “Group A Obligor”, “Group B Obligor”, or “Group C Obligor”, in which case such Obligor shall be separately treated as a Group A Obligor, a Group B Obligor or a Group C Obligor, as the case may be, and shall be aggregated and combined for such purposes with any of its Subsidiaries that are Obligors.

  • Disqualified Non-United States Tax Person With respect to any Class R Certificate, any Non-United States Tax Person or agent thereof other than: (1) a Non-United States Tax Person that (a) holds such Class R Certificate and, for purposes of Treasury Regulations Section 1.860G-3(a)(3), is subject to tax under Section 882 of the Code, (b) certifies that it understands that, for purposes of Treasury Regulations Section 1.860E-1(c)(4)(ii), as a holder of such Class R Certificate for United States federal income tax purposes, it may incur tax liabilities in excess of any cash flows generated by such Class R Certificate and intends to pay taxes associated with holding such Class R Certificate, and (c) has furnished the Transferor, the Trustee, the Certificate Administrator and the Tax Administrator with an effective IRS Form W-8ECI or successor form and has agreed to update such form as required under the applicable Treasury regulations; or (2) a Non-United States Tax Person that has delivered to the Transferor, the Trustee, the Certificate Administrator and the Tax Administrator an opinion of nationally recognized tax counsel to the effect that (x) the Transfer of such Class R Certificate to it is in accordance with the requirements of the Code and the regulations promulgated thereunder and (y) such Transfer of such Class R Certificate will not be disregarded for United States federal income tax purposes.

  • Affiliated Obligor means any Obligor that is an Affiliate of another Obligor.

  • Significant Obligor shall have the meaning set forth in Item 1101(k) of Regulation AB under the Securities Act.

  • Qualified Subsidiary means any direct or indirect Domestic Subsidiary or Eligible Foreign Subsidiary.

  • Qualified applicant means an owner or lessee of a qualified

  • qualified U.S. Bank means a qualified U.S. bank as defined in Rule 17f-5 under the Investment Company Act of 1940;

  • ualified ECP Guarantor means, at any time, each Loan Party with total assets exceeding $10,000,000 or that qualifies at such time as an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible contract participant” at such time under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

  • U.S. Obligor means an Obligor that is a corporation or other business organization and is organized under the laws of the United States of America (or of a United States of America territory, district, state, commonwealth, or possession, including, without limitation, Puerto Rico and the U.S. Virgin Islands) or any political subdivision thereof.

  • Special Purpose Receivables Subsidiary means a direct or indirect Subsidiary of the Borrower established in connection with a Permitted Receivables Financing for the acquisition of Receivables Assets or interests therein, and which is organized in a manner intended to reduce the likelihood that it would be substantively consolidated with the Borrower or any of the Subsidiaries (other than Special Purpose Receivables Subsidiaries) in the event the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law).

  • Swap Guarantor If so specified in the Supplement with respect to any Series, the guarantor specified as such in such Supplement.

  • Disqualified Non-U.S. Person With respect to a Class R Certificate, any Non-U.S. Person or agent thereof other than (i) a Non-U.S. Person that holds such Class R Certificate in connection with the conduct of a trade or business within the United States and has furnished the transferor and the Certificate Administrator with an effective IRS Form W-8ECI or other prescribed form or (ii) a Non-U.S. Person that has delivered to both the transferor and the Certificate Administrator an Opinion of Counsel of a nationally recognized tax counsel to the effect that the transfer of such Class R Certificate to it is in accordance with the requirements of the Code and the regulations promulgated thereunder and that such transfer of such Class R Certificate will not be disregarded for federal income tax purposes under Treasury Regulations Section 1.860G-3.