Credit Requirement definition
Credit Requirement means, as of any date, the sum of (A) the aggregate unpaid principal balance of all Loans then outstanding hereunder plus (B) the then current amount of Approved Secured Rate Hedging Obligations, plus (C) the aggregate face amount of all Outstanding CPNs, plus (D) the then current amount of Approved GNMA Letter of Credit Obligations.
Credit Requirement means a long-term credit rating (corporate or long-term senior unsecured debt) of (1) “Baa2” or higher by ▇▇▇▇▇’▇, and (2) “BBB” or higher by S&P.
Credit Requirement means, as of any date, the sum of (i) the then-current Allocated Facility Amount plus (ii) the then-current Consolidated Senior Unsecured Debt plus (iii) the then-current FF&E Deficiency, if any.
Examples of Credit Requirement in a sentence
For each FTR, for each month, ”FTR Monthly Credit Requirement Contribution” shall mean the total FTR cost for the month, prorated on a daily basis, less the FTR Historical Value for the month.
The Independent Credit Requirement (“ICR”) per Tranche (“ICRT”) that will be required of each SSO Supplier under this Agreement will initially be the sum of the amounts set forth on Attachment C-1 at the inception of the Original Delivery Period for each Tranche and will decline throughout the Term in accordance with the schedule set forth on Attachment C-1.
Independent Credit Requirement or “ICR” – an amount required as security under Section 6.3 of this Agreement, to reflect the risk of Energy and Capacity price movements between the Early Termination Date caused by an Event of Default by a BGS-RSCP Supplier and the date the final calculation of Damages owing to the Company under Section 5.2 of this Agreement is made.
The Independent Credit Requirement (“ICR”) per Tranche (“ICRT”) that will be required of the ▇▇▇▇ Supplier under this Agreement will initially be $1,800,000 per Tranche and will decline throughout the Term in accordance with the schedule set forth on Appendix B-1.
The Independent Credit Requirement per Tranche (“ICRT”) that will be required of BGS-RSCP Suppliers under this Agreement shall initially be $2.4 million per Tranche and shall decline in accordance with the schedule included as part of Appendix B throughout the term hereof.
More Definitions of Credit Requirement
Credit Requirement means any Margin Requirement or other credit requirement that may be specified in clause 8 or addendum in relation to a type of Transaction;
Credit Requirement means a long-term credit rating (corporate or long-term senior unsecured debt) of (1) “Baa2” or higher by Moody’s, and (2) “BBB” or higher by S&P.
Credit Requirement means, in the case of Contractor, that Contractor meets the requirements of any one or more of clause (i) and clause (ii) below: (i) Contractor or Contractor’s Guarantor maintains a senior unsecured debt rating from Standard & Poor’s of [ * * * ]*; (ii) if Contractor or Contractor’s Guarantor has no debt rating, Contractor meets ALL of the following credit standards: a) tangible net worth equal to the projected maximum exposure under the Contract, b) no change in the condition of Contractor’s earnings, net worth, or working capital since the effective date of The ▇▇▇▇ Group, Inc.’s 10Q for the period ending November 30, 2003, which would reasonably be anticipated to impair the Contractor’s ability to meet its obligations under this Contract, and c) Contractor is not in default under any of its other agreements and is current on all of its financial obligations; and in the case of Owner, that Owner maintains a senior unsecured debt rating from Standard & Poor’s of [ * * * ]* or ▇▇▇▇▇’▇ Investor Services of [ * * * ]*.
Credit Requirement means that Tenant can establish to Landlord’s reasonable satisfaction that Tenant has achieved each of the following, as reflected in audited financial statements (which include an unqualified certification by a licensed certified public accountant reasonably acceptable to Landlord): (a) a tangible net worth (defined as total assets, less good will and any other intangible assets, less liabilities) of at least One Hundred Fifty Million Dollars ($150,000,000), (b) unencumbered and unrestricted cash and marketable securities of Fifty Million Dollars ($50,000,000), and (c) positive net cash provided by operating activities, as reflected in Condensed Consolidated Statements of Cash Flows that are an integral part of Tenant’s financial statements. Tenant shall immediately notify Landlord in writing if Tenant at any time has unencumbered and unrestricted cash and marketable securities of less than Fifty Million Dollars ($50,000,000),
Credit Requirement. N/A SELLER: PURCHASER: U S Gas Services L L C Tyson Foods, Inc. By:/s/ By:/s/ ---------------------------- --------------------------- Title: President Title: VP Purchasing November 11, 1996 Via FedEx - Priority -------------------- ▇▇. ▇▇▇▇▇ ▇▇▇▇▇, President US GAS SERVICES LLC ▇▇ ▇. ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ RE: SALE OF BEEF DIVISION OF TYSON FOODS, INC. ("Tyson") Dear ▇▇. ▇▇▇▇▇: On October 17, 1996 Tyson entered into a definitive agreement (the "Purchase Agreement") pursuant to which it agreed to sell its beef further processing facilities and operations (the "Business") to Gorges/Quik-to-Fix Foods, Inc. ("Buyer"), an entity formed by CGW Southeast Partners III, L.P. ("CGW") for the purpose of acquiring the Business. Under the terms of the Purchase Agreement, the sale of the Business is expected to be consummated (the "Closing") on November 22, 1996. Until such date, Tyson will own and operate the Business. After the Closing, the Business will continue to be operated with the same facilities employed by Tyson in its operation of the Business and will be managed primarily by the people who now manage the Business for Tyson. Pursuant to the Purchase Agreement, Tyson has agreed to assign all of its rights, and Buyer has agreed to assume all of Tyson's obligations arising on or after the Closing, under that certain Gas Sales Agreement (the "Contract") dated December 1, 1995 by and between Tyson and US Gas Services LLC ("US Gas"). Pursuant to Section XII of the Contract, US Gas's consent is required in order for Tyson to assign the Contract to Buyer. On behalf of Tyson and Buyer, I am writing to request US Gas's consent to Tyson's assignment of the Contract to Buyer. Please sign below where indicated to confirm US Gas's consent to the assignment and return a copy of this letter to my attention via fax (▇▇▇-▇▇▇-▇▇▇▇) and the original via the enclosed FedEx envelope. By consenting to this assignment, US Gas acknowledges and affirms its duties and obligations under the Contract as if the Contract were entered into between US Gas and Buyer. This consent does not constitute a consent to further assignment of the Contract and, except as set forth herein, the Contract remains in full force and effect, enforceable against US Gas and Buyer. Your assistance in this matter is greatly appreciated. If you have any questions, please contact ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ (501-290-7330) or Read ▇▇▇▇▇▇ (501-290-7023) in Tyson's legal department, or ▇▇▇ ▇'▇▇▇▇▇▇▇ with Buyer (404-816-...
Credit Requirement shall have the meaning set forth in Section 12.09.
Credit Requirement means the requirement that, at any particular time, a Person has either (i) a Credit Rating of no less than BBB issued by Standard & Poor's (or such other designation that is the same as, or substantially the same as, a BBB rating issued by Standard & Poor's as of the date hereof), or (ii) Net Cash Flow of no less than fifteen (15) times the annual Fixed Rent payable by Tenant hereunder at such time.