Acceptable Issuing Bank definition

Acceptable Issuing Bank means a United States commercial bank or a foreign bank with a United States branch, which United States commercial bank or United States branch has at the applicable time a Credit Rating of (a) A- or better from Standard & Poor’s Rating Services and (b) A3 or better from Moody’s Investors Service, Inc.
View Source
Acceptable Issuing Bank means a bank or other financial institution reasonably acceptable to the Collateral Agent (i) whose long-term senior unsecured debt is rated at least A- by Standard & Poor’s and A3 by Moody’s and (ii) that has a capital, surplus and undivided profits of at least $1,000,000,000.
View Source
Acceptable Issuing Bank means any United States commercial bank or financial institution having a long-term unsecured senior debt rating of at least two of the following: A3 or better by ▇▇▇▇▇’▇, A- or better by S&P or A- or better by Fitch.
View Source

Examples of Acceptable Issuing Bank in a sentence

  • The bank issuing the Letter of Credit (the “Bank”) shall be subject to Landlord’s prior written approval, which approval shall not be withheld by Landlord if the proposed Bank is an Acceptable Issuing Bank.

  • As of the Lease Reference Date, subject to the remainder of this Section 8.3, Square 1 Bank is an Acceptable Issuing Bank.

  • The bank issuing the Letter of Credit (the “Bank”) shall be subject to Sublessor’s prior written approval, which approval shall not be withheld by Sublessor if the proposed Bank is an Acceptable Issuing Bank.

  • Landlord hereby approves Silicon Valley Bank as an Acceptable Issuing Bank.

  • If any Issuing Bank ceases to be an Acceptable Issuing Bank, such Issuing Bank promptly (in no event later than two (2) Business Days) notify the Company thereof.

  • Buyer will, to the extent acceptable to and required by the beneficiary of the Sponsor Letters of Credit, replace the Sponsor Letters of Credit with one or more comparable letters of credit issued by JPMorgan Chase Bank, N.A., ▇▇▇▇▇ Fargo Bank, National Association, Citibank, N.A., or a comparable U.S. bank (“ Acceptable Issuing Bank ”) or otherwise provide substitute credit support in a form acceptable to the beneficiary at or contemporaneously with the Closing.

  • Sublessor hereby approves Silicon Valley Bank as an Acceptable Issuing Bank.


More Definitions of Acceptable Issuing Bank

Acceptable Issuing Bank means a United States commercial bank having, at the time of such issuance ratings of at least “A-” by Standard & Poor’s and at least “A3” by ▇▇▇▇▇’▇ Investor Services, Inc. and capital, surplus and undivided profits in excess of $10,000,000,000.
View Source
Acceptable Issuing Bank a bank or trust company authorized to engage in the banking business having the equivalent thereof whose long-term unsecured debt is rated “A-” or higher by S&P or “A3” or higher by ▇▇▇▇▇’▇ or, if both of such rating agencies are no longer in business or no longer rating unsecured debt of banks or trust companies, a comparable rating of another internationally recognized rating agency selected by the Company.
View Source