IAAC definition
Examples of IAAC in a sentence
IAAC shall maintain (on a consolidated basis with all of its Subsidiaries, including the Guarantee-exempt Subsidiaries) an Interest Coverage Ratio of at least 1.75 to 1.0, except to the extent that the Lender waives such covenant in writing as a result of a particular non-recurring item.
The Lender hereby confirms that the Borrower is not obligated to comply with the provisions of this subsection with respect to its direct or indirect ownership of the Capital Stock of INTL Sieramet in which IAAC owns 55% of the Capital Stock, Agora-X, LLC in which IAAC owns 80% of the Capital Stock, ▇▇ ▇▇▇▇▇, LLC, FCC Investments, Inc., FCC Futures, Inc.
This Agreement supersedes and voids all previous agreements, written or oral, existing between IAAC and the Broker.
The following procedures will be followed in the event of a disagreement or dispute involving the interpretation of this Agreement or the performance or non-performance of IAAC or of the Broker.
For administrative convenience, IAAC is hereby irrevocably appointed by the Borrower as agent for each of the entities comprising the Borrower for the purpose of requesting Advances and Letters of Credit hereunder from the Lender, receiving the proceeds of Advances and disbursing the proceeds of Advances.
By reason of the foregoing, the Lender is hereby irrevocably authorized by the Borrower to make Advances to the Borrower and issue Letters of Credit for the account of the Borrower pursuant to this Agreement upon the request of any one of the persons who is authorized to do so under the provisions of any applicable corporate resolutions of IAAC.
The Broker recognizes that Broker has no interest in the premiums collected by Broker, and shall make no deductions there from before paying same to IAAC, except for commissions which have been duly authorized in writing by IAAC.
The Broker shall immediately report to IAAC all claims on policies issued pursuant to this Agreement.
Ag Processing 17,875,716 17,875,716 CME-Chicago Mercantile Exchange 5,215,620 5,215,620 CBOE-Chicago Board Options Exchange 494,132 494,132 Clarkson Grain Co. 600,000 600,000 CoBank 13,107,026 13,107,026 Cooperative Finance Association 569,529 569,529 IAAC Farmers Comm 956,528 956,528 International Malting — Lesaffre 700,000 700,000 Land O’ Lakes, Inc.
In its capacity as such agent, IAAC shall have the power and authority through its authorized officer or officers to (i) endorse any check for the proceeds of any Advance for and on behalf the Borrower and in the name of the Borrower, and (ii) instruct the Lender to credit the proceeds of any Advance directly to a banking account of the Borrower.