Creditworthy Entity definition

Creditworthy Entity means a bank or financial institution which (x) has an international corporate family rating or a rating for its long-term unsecured non-credit enhanced debt obligations of BBB- or higher by S&P or Fitch Ratings Ltd or Baa3 or higher by Xxxxx’x or a comparable rating from an internationally recognized credit rating agency (provided that in the case that such rating is BBB or BBB- by S&P or Fitch or Baa2 or Baa3 by Xxxxx’x, as applicable, then such rating shall also be accompanied by an “outlook” of stable or better (or the equivalent from the applicable rating agency)) or (y) in the case of a financial institution based in Israel without such a rating, such financial institution qualifies as an “Investor” within the meaning of the first supplement to the Israeli Securities Law, 1968 and has at least US$1,000,000,000 of assets under management (or the foreign currency equivalent thereof). Subject to acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 2.12, 2.15 and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section. For the avoidance of doubt, to the extent any Revolving-Only Lender assigns any portion of its Loans or Commitments hereunder, the assignee thereof shall be a “Revolving-Only Lender” in respect of the assignors’ Commitments or Loan so assigned (it being understood that such assignee may designate any portion of its Revolving Commitments as LC Commitment in accordance ...

Creditworthy Entity has the meaning set forth in Section 11.05(b).

Creditworthy Entity means a Person having at the applicable time a Credit Rating of

Examples of Creditworthy Entity in a sentence

• Unless consented to expressly by the Parent (provided that after the end of the Availability Period, such consent shall not be unreasonably withheld or delayed), no such assignment shall be made to any assignee that does not qualify as a Creditworthy Entity at the time of such assignment, unless (x) an Event of Default under Section 7.01(a), (b), (g), (h) or (i) has occurred and is continuing at the time of such assignment or (y) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund.

• No such assignment shall be made to any assignee that does not qualify as a Creditworthy Entity at the time of such assignment, unless (x) or Event of Default under Section 7.01(a), (b), (g), (h) or (i) has occurred and is continuing at the time of such assignment or (y) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund.

• No such assignment shall be made to any assignee that does not qualify as a Creditworthy Entity at the time of such assignment, unless (x) an Event of Default under Section 7.01(a), (b), (g), (h) or (i) has occurred and is continuing at the time of such assignment or (y) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund.

• The key aspect in this regard is to obtain a statement regarding the nature and duration of the disability for the relevant student from a formally recognised expert in the field of the specific disability, which may affect the student’s ability to take part in education activities and practical training and participate in examinations.

• Purchaser’s Performance Assurance shall be released upon Purchaser’s notice and sufficient evidence that it qualifies as a Creditworthy Entity, or upon the first date that both the Term has ended and Purchaser has satisfied all of its payment obligations to Seller under this Agreement.

More Definitions of Creditworthy Entity

Creditworthy Entity means a Person having at the applicable time unsecured, uninsured, and otherwise unenhanced credit rating on its senior debt from at least two rating agencies of at least "BBB-," "Baa3" or "BBB-" by Standard & Poor's Ratings Services, Xxxxx'x Investors Service, Inc., and Fitch Inc., respectively.

Creditworthy Entity means a Person that has a Credit Rating of at least (i) Baa3 or higher by Moody's or (ii) BBB- or higher by S&P. If a Person is rated by more than one of such rating agencies, then such Person shall be a Creditworthy Entity so long as the highest such rating satisfies the foregoing requirement.

Creditworthy Entity means Person that has a Credit Rating of at least BBB- by S&P and Baa3 by Moody’s.

Creditworthy Entity means a Person having at the applicable time a Credit Rating of (a) BBB or better from S&P, or (b) Baa2 or better from Xxxxx’x, or (c) if such Person has a Credit Rating at such time from both S&Ps and Xxxxx’x, BBB or better from S&P and Baa2 or better from Xxxxx’x.

Creditworthy Entity means an entity that has an investment grade long-term credit rating from at least one “nationally recognized statistical rating organisation” (as defined in the rules of the SEC under the Securities Exchange Act).

Creditworthy Entity means an entity with an investment grade credit rating or is otherwise commercially reasonably approved by Seller in writing as creditworthy based on audited financial information.

Creditworthy Entity means a bank, financial institution or credit fund which has an international corporate family rating or a rating for its long-term unsecured non-credit enhanced debt obligations of BBB- or higher by S&P or Fitch Ratings Ltd or Baa3 or higher by Xxxxx’x or a comparable rating from an internationally recognized credit rating agency. Subject to acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 2.12, 2.15 and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section.