Acceptable LC Bank definition
Acceptable LC Bank means any United States commercial bank(s) or financial institution(s) or a United States branch or subsidiary of a foreign commercial bank(s) or financial institution(s) meeting, or guaranteed or confirmed by an entity meeting, the Credit Requirements.
Acceptable LC Bank means any bank or trust company authorized to engage in the banking business that is organized under or licensed as a branch or agency under the laws of the United States of America or any state thereof that has an Acceptable Credit Rating.
Acceptable LC Bank means any United States commercial bank or financial institution or a United States branch or subsidiary of a foreign commercial bank or financial institution whose long-term unsecured debt (non-credit enhanced) is rated at least A2 by Moody’s or at least A by S&P and that is not then subject to a credit watch with negative outlook or other downgrade notice from either Moody’s or S&P.