LOC Provider definition

LOC Provider means the banks and financial institutions providing or otherwise participating in any of the Letters of Credit under or pursuant to any Reimbursement Agreement."

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LOC Provider means a bank that (i) is on the “List of Qualified U.S. Financial Institutions” established and maintained by the NAIC; [***] is not a parent, subsidiary or affiliate of the Parties.

LOC Provider is hereby deleted in its entirety and the following is inserted in lieu thereof:

Examples of LOC Provider in a sentence

Upon such written notice, the Trustee will cooperate with the Insurer and the LOC Provider in accordance with the written instructions on which it may conclusively rely.
Upon any such resignation, the Lender shall have the right to appoint a successor Agent, subject to (i) the prior written approval of such successor Agent by each LOC Provider and each Liquidity Lender and (ii) receipt of written confirmation from each Rating Agency that such appointment shall not result in a withdrawal or downgrading of the then current credit rating of the Commercial Paper.
The Trustee at any time may resign and be discharged from the trusts hereby created by giving written notice thereof to the Contract Seller, the Servicer, the Insurer, the LOC Provider and each Rating Agency.
The Insurer and the LOC Provider may, without the consent of the Trustee, the Contract Seller, the Servicer or the Certificateholders, reduce in whole or in part amounts on deposit in the Spread Account at any time the upon written notice to the Trustee.
The Insurer and the LOC Provider shall be entitled to bring a claim against the Contract Seller for its failure to perform its obligations under Section 3.05 or a claim against the Servicer for any failure by the Servicer to make Monthly Advances as required under Section 5.01 or any deposit or other payment required under this Agreement.
To the extent that no amounts are required to be deposited into the Special Account and there are amounts on deposit in the Spread Account upon the termination of this Agreement, the Trustee shall withdraw such amounts and remit them to the LOC Provider.
The Depositary Agent shall deposit the monies received from the Debt Service Reserve LOC Provider in payment of such draft in the Debt Service Reserve Fund to be applied in accordance with this Section 3.5.
The Trustee shall send a copy of a notice of any Event of Default to each Rating Agency, the Insurer, the LOC Provider and the Contract Seller.
The Ceding Company shall also pay interest on any Letter of Credit excess draw amount at the Interest Rate from and including the date of such draw to but excluding the date of return to the LOC Provider or the Reinsurer.
No Remedy herein conferred upon or reserved to the LOC Provider is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder and the related documents or now or hereafter existing at law or in equity or by statute.

More Definitions of LOC Provider

LOC Provider means any provider of a Letter of Credit that is set forth on the “List of Qualified U.S. Financial Institutions” established and maintained by the National Association of Insurance Commissioners and reasonably satisfactory to the Cedant and the Reinsurer; provided, that the Cedant shall be permitted to consider, among other things, the Cedant’s overall credit exposure with respect to such proposed LOC Provider in determining whether such proposed LOC Provider is satisfactory.

LOC Provider means any issuer of an LOC. The initial LOC Provider is The Royal Bank of Scotland plc, a limited liability company incorporated in Great Britain and registered under the law of Scotland.

LOC Provider means Barclays Bank PLC (registered number 01026167) whose registered office is at 54 Lombard Street, London EC3P 3AH, United Kingdom, acting

LOC Provider means a bank that (a) (i) is set forth on the “List of Qualified U.S. Financial Institutions” established and maintained by the National Association of Insurance Commissioners, (ii) has consolidated assets in excess of [***] and (iii) has a financial strength rating of [***] (or equivalent) or higher from at least two of S&P Global, Fitch or Moody’s (or their successors) or (b) is approved in writing by the Ceding Company.

LOC Provider is inserted in appropriate alphabetical order:

LOC Provider means Barclays Bank PLC (registered number 01026167) whose registered office is at 54 Lombard Street, London EC3P 3AH, United Kingdom, acting through its Milan branch in its capacity as letter of credit provider pursuant to the Letter of Credit Facility Agreement;