Approved Take Out Party definition

Approved Take Out Party means a person that issues a Take Out Commitment and that satisfies any of the following criteria: (a) the senior unsecured non-credit-enhanced long-term debt of such person is rated BBB or higher by S&P or Baa2 or higher by Xxxxx’x, (b) such person is an endowment or pension fund (or such Take Out Commitment is guaranteed by an endowment or pension fund) in compliance with ERISA and having net liquid assets and a consolidated net worth (including equity commitments) determined in accordance with GAAP (as reflected in its most recent annual audited financial statements issued within 12 months of the date of determination) of not less than $500,000,000, (c) such person is set forth on Schedule 1.01(c) or (d) such person is otherwise approved by the Administrative Agent after receipt of all information necessary to make such determination.

Approved Take Out Party means a person that issues a Take Out Commitment and that satisfies any of the following criteria: (a) the senior unsecured non-credit-enhanced long-term debt of such person is rated BBB or higher by S&P or Baa2 or higher by Moody’s, (b) such person is an endowment or pension fund (or such Take Out Commitment is guaranteed by an endowment or pension fund) in compliance with ERISA and having net liquid assets and a consolidated net worth (including equity commitments) determined in accordance with GAAP (as reflected in its most recent annual audited financial statements issued within 12 months of the date of determination) of not less than $500,000,000, (c) such person is set forth on Schedule 1.01(c), or (d) such person is otherwise approved by the Administrative Agent after receipt of all information necessary to make such determination.

Approved Take Out Party means a Person that issues a Take Out Commitment and that satisfies any of the following criteria: (1) the senior unsecured non-credit-enhanced long-term debt of such Person is rated BBB or higher by S&P or Baa2 or higher by Xxxxx’x Investors Service, Inc. (or any successor to the rating agency business thereof) or (2) such Person is an endowment or pension fund (or such Take Out Commitment is guaranteed by an endowment or pension fund) in compliance with Title I of the Employee Retirement Income Security Act of 1974, as amended, and having net liquid assets and a consolidated net worth (including equity commitments) determined in accordance with GAAP (as reflected in its most recent annual audited financial statements issued within 12 months of the date of determination) of not less than $500,000,000.

Examples of Approved Take Out Party in a sentence

Approved Credit Support for their pro rata share of such Guarantee and (c) any investment in which an Approved Take Out Party provides an Approved Take Out Commitment in respect of such investment (it being understood that any particular investment or Guarantee may be allocated to one or more categories specified in clauses (a), (b) and (c) above).

More Definitions of Approved Take Out Party

Approved Take Out Party means a person that issues a Take Out Commitment and that satisfies any of the following criteria: (a) the senior

Approved Take Out Party means a Person which issues a Take Out Commitment and which satisfies any of the following criteria: (a) the senior unsecured debt of such Person is rated BBB or higher by S&P or Baa2 or higher by Xxxxx’x, (b) such Person is an endowment or pension fund (or such Take Out Commitment is guaranteed by an endowment or pension fund) in compliance with ERISA and having net liquid assets and a consolidated net worth (including equity commitments) determined in accordance with GAAP (as reflected in its most recent annual audited financial statements issued within twelve (12) months of the date of determination) of not less than $500,000,000, (c) such Person is set forth on Schedule 1.1 (subject to the right of Requisite Lenders to make prospective additions or deletions to such list from time to time), or (d) such Person is otherwise approved by Requisite Lenders after receipt of all information necessary to make such determination; provided that Borrower pays a work fee of $2,500 per consenting Lender for consideration of each new Approved Take Out Party if such consent is obtained within twenty-one (21) days from the delivery of all information necessary to make such determination.

Related to Approved Take Out Party

approved person means, in respect of a member (Member) of the Investment Industry Regulatory Organization of Canada (IIROC), an individual who is a partner, director, officer, employee or agent of a Member who is approved by IIROC or another Canadian SRO to perform any function required under any IIROC or other Canadian SRO by-law, rule, or policy;
VA Approved Lender means a lender which is approved by the VA to act as a lender in connection with the origination of VA Loans.
Approved program or approved State means a State administered NPDES program which has been approved or authorized by EPA under 40 CFR Part 123.
Approved tenderer means the tenderer who is approved by the Employer.
Approved Transaction means any transaction in which the Board (or, if approval of the Board is not required as a matter of law, the stockholders of the Company) shall approve (i) any consolidation or merger of the Company, or binding share exchange, pursuant to which shares of Common Stock of the Company would be changed or converted into or exchanged for cash, securities, or other property, other than any such transaction in which the common stockholders of the Company immediately prior to such transaction have the same proportionate ownership of the Common Stock of, and voting power with respect to, the surviving corporation immediately after such transaction, (ii) any merger, consolidation or binding share exchange to which the Company is a party as a result of which the Persons who are common stockholders of the Company immediately prior thereto have less than a majority of the combined voting power of the outstanding capital stock of the Company ordinarily (and apart from the rights accruing under special circumstances) having the right to vote in the election of directors immediately following such merger, consolidation or binding share exchange, (iii) the adoption of any plan or proposal for the liquidation or dissolution of the Company, or (iv) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all, of the assets of the Company.
Required Party has the meaning set forth in Section 4.03 of this Agreement.
Required Lenders means, at any time, Lenders having Revolving Credit Exposures and unused Commitments representing more than 50% of the sum of the total Revolving Credit Exposures and unused Commitments at such time.
Approved Lender is defined in Section 12.1.
Related Party Contract means any Contract between or among one or more of the Company and the Company Subsidiaries, on the one hand, and any Related Party of the Company or any Company Subsidiary, on the other hand.
Third-Party Lender means an entity that originated a loan to a consumer for the purchase of a motor vehicle and sold the loan to AmeriCredit or an Originating Affiliate pursuant to an Auto Loan Purchase and Sale Agreement.
Approved Source means Cisco or a Cisco authorized reseller, distributor or systems integrator.
Approved Third-Party Appraiser means each of (a) Xxxxxxxx Xxxxx Xxxxxx & Xxxxx Inc., (b) Lincoln International LLC (formerly known as Lincoln Partners LLC), (c) Duff & Xxxxxx Corporation, (d) Valuation Research Corporation, and (e) any other third party appraiser selected by the Borrower in its reasonable discretion.
Approved/Approval means the approval in writing.
Approved List means Securities followed by the Global Fundamental Research Group and tracked on the Approved List. Securities may be added, removed, or undergo periodic ratings changes.
CAISO-Approved Meter means any revenue quality, electric energy measurement meter furnished by Seller, that (a) is designed, manufactured and installed in accordance with the CAISO’s metering requirements, or, to the extent that the CAISO’s metering requirements do not apply, Prudent Electrical Practices, and (b) includes all of the associated metering transformers and related appurtenances that are required in order to measure the net electric energy output from the Generating Facility.
Hostile Take-Over means either of the following events effecting a change in control or ownership of the Corporation:
Project Document means any one of the foregoing;
Spray buff product means a product designed to restore a worn floor finish in conjunction with a floor buffing machine and special pad.
Aerial applicator means aircraft or rotorcraft used exclusively for the purpose of
Approved Entity means a body corporate which, on the occurrence of the Takeover Event, has in issue Approved Entity Shares.
Approved Device means a device described in Subsection 20A-21-201(4) used to
Major Customer shall have the meaning set forth in Section 4.22(a).
Approved Product means any water fitting, plumbing product, material or component which is the subject of an existing WRAS Approval;
Approved 102 Option means an Option granted pursuant to Section 102(b) of the Ordinance and held in trust by a Trustee for the benefit of the Optionee.
Material Taking shall have the meaning set forth in Section 6.4.
Material Action means to consolidate or merge the Company with or into any Person, or sell all or substantially all of the assets of the Company, or to institute proceedings to have the Company be adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Company or file a petition seeking, or consent to, reorganization or relief with respect to the Company under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or a substantial part of its property, or make any assignment for the benefit of creditors of the Company, or admit in writing the Company's inability to pay its debts generally as they become due, or take action in furtherance of any such action, or, to the fullest extent permitted by law, dissolve or liquidate the Company.