Creditworthy definition

Creditworthy or “Creditworthiness” - means (i) a Person with an investment grade Credit Rating from two (2) of the three (3) Rating Agencies such that its senior unsecured debt (or issuer rating if such Person has no senior unsecured debt rating) is rated at least (A) BBB- by S&P, if rated by S&P, (B) Baa3 by Moody’s, if rated by Moody’s, and (C) BBB- by Fitch, if rated by Fitch, respectively, or (ii) has satisfactory and verifiable creditworthiness determined in Buyer’s reasonable discretion.

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Creditworthy means sufficiently capitalized, to the reasonable satisfaction of Seller upon provision to Seller of substantiating documentary evidence, to be able to pay the Purchase Price.

Creditworthy or “Creditworthiness” - means (i) a Person with an investment grade Credit Rating from two (2) of the three (3) Rating Agencies such that its senior unsecured debt (or issuer rating if such Person has no senior unsecured debt rating) is rated at least (A) BBB- by S&P, if rated by S&P, (B) Baa3 by ▇▇▇▇▇’▇, if rated by ▇▇▇▇▇’▇, and (C) BBB- by Fitch, if rated by Fitch, respectively, or (ii) has satisfactory and verifiable creditworthiness determined in Buyer’s reasonable discretion.

Examples of Creditworthy in a sentence

Notwithstanding anything to the contrary herein, ▇▇▇▇▇ may pledge, encumber, or assign this Agreement without the consent of Seller to any Person that is Creditworthy, or that has provided Seller with a guaranty substantially in the form of Exhibit 6 from a Creditworthy credit support provider guaranteeing the assignee’s obligations hereunder, and that has agreed in writing to assume the obligations of Buyer hereunder.
To be deemed Creditworthy, the Supplier must first have acquired a Supplier Certificate from the Commission, meeting the Commission’s creditworthiness standards.
If Seller is Creditworthy and is not in default of any provisions under this Agreement the Seller shall be excused from the requirement to post Performance Assurance as required under Sections 5.1 and 5.2 above, as long as it remains Creditworthy.
If at any time during the Term of this Agreement, Seller, or its Guarantor, ceases to be Creditworthy due to a change in its Credit Rating, then Seller will notify Buyer of such change in its credit status and shall provide (or replace) Performance Assurance to Buyer in the amounts required under Section 5.1 or 5.2, as applicable, within five (5) Business Days after such change in its Credit Rating.
To determine whether a Supplier is Creditworthy, the Company will evaluate the Supplier's record of paying the Company Charges, and may also take into consideration the Supplier's credit history.

More Definitions of Creditworthy

Creditworthy means a Person (a) with an investment grade rating from two (2) of the three (3) Rating Agencies such that its senior unsecured debt (or issuer rating if such Person has no senior unsecured debt rating) is rated at least (1) BBB- by S&P, if rated by S&P, (2) Baa3 by Moody’s, if rated by Moody’s, and (3) BBB- by Fitch, if rated by Fitch, respectively, and (b) has satisfactory and verifiable creditworthiness determined in PSE’s sole discretion.

Creditworthy means, in the case of a Person, that the Person has (i) an Investment Grade Rating or (ii) provided a guaranty of performance, in a form reasonably acceptable to the beneficiary of such guaranty, from a Person with an Investment Grade Rating.

Creditworthy means, if a non-governmental entity, a long-term credit rating (corporate or long-term senior unsecured debt) of, or, if a governmental entity, a general obligation bond rating of (a) Baa3 or higher by Moody’s,

Creditworthy means a Person that, as at the Effective Date of the Service Agreement and thereafter, for the term of the Service Agreement, has a credit rating for its unenhanced long term senior unsecured debt that meets the Minimum Acceptable Rating;

Creditworthy means, with respect to any Person, a credit rating for senior unsecured debt of at least (i) “BBB-” from Standard & Poor’s Ratings Group (a division of The McGraw Hill Companies, Inc.), provided that if such credit rating is “BBB-” such Person shall not be on “CreditWatch Negative”, or (ii) “Baa3” from ▇▇▇▇▇’▇ Investors Services, Inc., provided that if such credit rating is “Baa3” such Person shall not be on “Review for possible downgrade.” A Person that is not otherwise Creditworthy shall be deemed Creditworthy if its obligations under this Agreement are absolutely, irrevocably and unconditionally guaranteed pursuant to a guaranty agreement that is reasonably acceptable to the non-transferring Member by a Creditworthy Person that is either a direct or indirect parent entity of such Person or has otherwise received adequate and sufficient consideration for such guaranty.

Creditworthy or “Creditworthiness” means maintaining a Minimum Credit Rating or, in the alternative, notwithstanding the failure to meet or maintain a Minimum Credit Rating, if EGT determines that the financial position of Shipper or its Guarantor is and remains reasonably acceptable to EGT, as determined in accordance with the criteria set forth in Section 2 of this Attachment A, during the term of this Agreement.

Creditworthy means a credit rating of “BBB-” or better (as assigned by Standard & Poor's Financial Services LLC (“S&P”) and its successors, or “Baa3” or better (as assigned by ▇▇▇▇▇’▇ Investors Service, Inc. (“Moody’s”) and its successors).