Eligible Commercial Paper means a note of an issuer domiciled, and having its principal place of business in the United States or elsewhere having a maturity of 270 days or less and which is free and clear of any Adverse Claims and in which the Agent has, for the benefit of the Agent and the Banks, a first priority perfected security interest pursuant to the Security Documents (subject to Liens in favor of the Borrower’s Custodian granted pursuant to the Custody Agreement to secure obligations arising thereunder).
Eligible Commercial Paper means a note of an issuer located in the United States or elsewhere having a maturity of 270 days or less and which is free and clear of any Adverse Claims other than Permitted Liens and in which the Agent has, for the benefit of the Agent and the Banks, a Senior Lien.
Eligible Commercial Paper means a note (a) other than (i) an Asset-backed Security, (ii) a note issued in connection with a Bank Loan or a Bank Loan Participation, or (iii) a Convertible Security, (b) issued by a U.S. Issuer, (c) having a maturity of 270 days or less, and (d) Rated A2 or better by S&P or P2 or better by Moody’s.
Examples of Eligible Commercial Paper in a sentence
Eligible Commercial Paper may not exceed 180 days’ maturity, or represent more than 10 percent of the outstanding paper of an issuing corporation.
Eligible Commercial Paper is further limited to issuing corporations having shareholders’ equity in excess of $10 Billion.
Subject to Section 7.02(a), cause all Eligible Commercial Paper, Eligible Government Securities and Eligible Loan Assets, to constitute Assigned Collateral.
Eligible Commercial Paper may not exceed 180 days' maturity, or represent more than 10 percent of the outstanding paper of an issuing corporation.
Eligible Commercial Paper is further limited to issuing corporations having market capitalization in excess of $10 Billion.
More Definitions of Eligible Commercial Paper
Eligible Commercial Paper means a promissory note issued in the United States commercial paper market by an obligor having its principal office in the United States, having a maturity of not more than 270 days and which (a) if rated by both S&P and Xxxxx’x is rated at least “A-1” by S&P and at least “P-1” by Moody’s, and (b) if rated by S&P or Moody’s (but not both) is rated at least “A-1” by S&P or at least “P-1” by Moody’s and which are Eligible Assets.
Eligible Commercial Paper means a promissory note issued in the United States commercial paper market, having a maturity of not more than 270 days and which is rated "A-1" or better by S&P or "P-1" by Moody's, and is held in an account maintained by the Custodian.
Eligible Commercial Paper means commercial paper and other short-term money market instruments which are rated at least A-1 or the equivalent thereof by Standard & Poors and P-1 or the equivalent thereof by Moody's.
Eligible Commercial Paper means a note (a) constituting an Eligible Debt Security, (b) of an Eligible Corporate Issuer, (c) having a maturity of 270 days or less, (d) rated A1 or better by S&P and P1 or better by Moody’s, (e) denominated in an Eligible Currency, and (f) with respect to which there are recognized broker-dealers located in one or more Eligible OECD Member Nations that make a market in such note.
Eligible Commercial Paper means investments in commercial paper set forth in clause (b) of the definition of Permitted Investments that are (a) held in a blocked securities account at Chase under the Control (as defined in the Security Agreement) of the Administrative Agent or held in an account at another financial institution subject to an account control agreement in favor the Administrative Agent reasonably satisfactory to the Administrative Agent and (b) issued by Persons organized under the laws of any state in the United States.
Eligible Commercial Paper contained in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
Eligible Commercial Paper means commercial paper and other short- ------------------------- term money market instruments which are rated at least A-1 or the equivalent thereof by Standard & Poor's Rating Services ("Standard & Poors") and P-1 or the ---------------- equivalent thereof by Xxxxx'x Investor Services ("Moody's"). -------