Eligible Financial Institution definition

Eligible Financial Institution means, as of the date of any assignment as contemplated in Section 8.07(a)(i), a commercial bank or financial institution (i) with a credit rating on its long-term senior unsecured debt of either (a) “AA-” or better from S&P or (b) “Aa3” or better from Xxxxx’x; and (ii) having shareholders' equity of not less than $5,000,000,000.

Eligible Financial Institution means a financial institution that is, as of the date of submitting an application to participate in ECIP (the “ECIP Application”), and as of the Signing Date (1)(i) a CDFI or (ii) a MDI; and (2)(i) an insured depository institution not controlled by a Bank Holding Company or Savings and Loan Holding Company that is also an Eligible Financial Institution, (ii) a Bank Holding Company, (iii) a Savings and Loan Holding Company, or (iv) any credit union the member accounts of which are insured by the National Credit Union Share Insurance Fund.

Eligible Financial Institution means any insured depository institution, insured credit union, or community development financial institution, as those terms are each defined in Section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4702).

Examples of Eligible Financial Institution in a sentence

• The Eligible Financial Institution or Eligible Finance Lender’s agreement to follow the Program Regulations as set forth in this Article.

• This description shouldmust include a comparison between the terms, underwriting criteria, interest rates, or other critical features of the loan program(s) described in subsection (a)(8) above and any existing,EFI’s or EFL’s similar loan product offered by products and the Eligible Financial Institution or Eligible Finance Lender.proposed loan program with and without access to the Credit-Challenged Program.

• The Issuer may enter into a financial derivative contract,listed or OTC, with an Eligible Financial Institution.

• Credit-Challenged Program” means the optional program in which an Eligible Financial Institution or Eligible Finance Lender can be approved, per the application process described in Section 10091.2(b d), to receive higher Loan Loss Reserve contributionsContributions described in Section 10091.8(l7(b)(1)(B) for Credit- Challenged Borrowers.

• Participating Financial Institution” or “PFI” means an Eligible Financial Institution, including their Participating Channel Partner, if applicable, that has been approved by the Executive Director to participate in the Program.

More Definitions of Eligible Financial Institution

Eligible Financial Institution means (a) a commercial bank organized under the laws of the United States, or any State thereof or the District of Columbia, and having total assets in excess of $5,000,000,000; (b) a commercial bank organized under the laws of any other country which is a member of the Organization for Economic Cooperation and Development (“OECD”) or has concluded special lending arrangements with the International Monetary Fund associated with its General Arrangements to Borrow, or a political subdivision of any such country, and having total assets in excess of $5,000,000,000; provided, that such bank is acting through a branch or agency located in the United States; (c) the central bank of any country which is a member of the OECD; and (d) a finance company, insurance company or other financial institution (whether a corporation, partnership or other entity, but excluding any savings and loan association) which is engaged in making, purchasing or otherwise investing in commercial loans in the ordinary course of its business, and having total assets in excess of $5,000,000,000; provided, however, that in no event shall any bank or other Person qualify as an Eligible Financial Institution at any time when it or its parent company has outstanding obligations with a credit rating less than investment grade from Standard & Poor’s, a division of the MxXxxx-Xxxx Companies, or Mxxxx’x Investors Service, Inc. or another nationally recognized rating service.

Eligible Financial Institution. ’ means each of the following:

Eligible Financial Institution means any Canadian chartered bank, any trust company authorized to carry on business in the province of British Columbia, and any credit union authorized to carry on business in the province of British Columbia.

Eligible Financial Institution means a financial institution organized under the laws of any jurisdiction in the United States of America, the United Kingdom or the European Union.

Eligible Financial Institution means any Canadian chartered bank, any trust company authorized to carry on business in the province of British Columbia, and any credit union authorized to carry on business in the province of British Columbia. The financial institution must provide deposit insurance sufficient to cover the deposits of the participants.

Eligible Financial Institution means bank or financial institution having long-term, unsecured debt ratings of not less than “A-/A3” from one of the major national rating agencies.

Eligible Financial Institution means either a member of the CPA or a Canadian financial institution deemed to be a Member for purposes of the CPA Rules.