Local Credit definition

Local Credit means loan credits provided by Local Banks to Group Companies (except for the Issuer).
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Examples of Local Credit in a sentence

  • Local Credit A district may offer courses for local credit, at its discretion, in addition to those in the required curriculum, but it may not delete or omit instruction in the foundation and enrichment curricula specified above.

  • The Bank has a Local Credit Committee comprising of the Senior Country Officer and other senior personnel representing Global Markets, Corporate Banking and Credit Risk Analysis.

  • A(1) and/or (2)): Title: Date(s): Number of Credits: semester quarter or Number of Local Credit clock hours: Course or Program Description: Explain the value of this course or program to the Institution's Education Program, if applicable: I affirm that the above information is correct and hereby request that this credit be approved for utilization in accordance with the labor agreement between the State of Minnesota and the State Residential Schools Education Association.

  • To obtain a favorable trustworthiness determination, each contractor employee must have a favorably completed National Agency Check with Local Credit Checks (NACLC) which consists of a NACI including a FBI fingerprint check plus credit and law enforcement checks.

  • Table 10-3 shows a ledger of payments made to date, their use (either Local Credit or State Share Advance or True-Up) and the remaining grant balance.

  • The Group may not inject any more equity or extend any loans or make any other value transfers to the acquiring Group Company or its Subsidiaries (which have incurred Local Credit) until full repayment of such Local Credit, provided that the Group may inject cash through equity contributions or subordinated loans if an equivalent amount has been contributed to the Issuer as an unconditional equity injection or Shareholder Debt.

  • Local Credit Committee and Management Credit Committee assess all credit exposures in excess of designated limits, prior to facilities being committed to customers by the business unit concerned.

  • Each business unit with the responsibility of initiating credit has experienced credit managers who report on all credit related matters to Local Credit Committee and respond to issues at the Bank’s Credit Committee.

  • Locally, various senior management committees mainly, Asset-Liability Committee (ALCO), Internal Control Committee (ICC), and Local Credit Committee (LCC) operate within the broad policy set up by Head Office.

  • Local Credits may be assumed by any Group Company for the purpose of acquiring Portfolios, provided that (i) the Local Credit is in compliance with Clause 13.4 ( Financial Indebtedness) above, and (ii) the initial equity contribution provided by the Group to the acquiring Group Company shall not exceed 40 per cent of the acquisition price for the acquired Portfolios.

Related to Local Credit

  • Federal Credit means the Georgia Housing Tax Credit established by the federal government for the purpose of encouraging the development of affordable housing and governed by the Code.

  • Universal Credit means any payment of Universal Credit payable under the Welfare Reform Act 2012, the Universal Credit Regulations 2013, The Universal Credit (Consequential, Supplementary, Incidental and Miscellaneous Provisions) Regulations 2013, Universal Credit (Miscellaneous Amendments) Regulations 2013 and the Universal Credit (Transitional Provisions) Regulations 2014;

  • Dual credit means the system under which an eligible high school student enrolls in college course(s) and receives credit for the course(s) from both the college and high school.

  • Original Credit Agreement shall have the meaning assigned to such term in the recitals hereto.

  • Material Credit Facility means, as to the Company and its Subsidiaries,

  • Principal Credit Facility means any loan agreement, credit agreement, note purchase agreement, indenture or similar document under which credit facilities in the aggregate original principal or commitment amount of at least $20,000,000 are provided for.

  • ABL Credit Facility means the agreement, dated as of March 30, 2015, among the Company, the Subsidiaries of the Company that borrow or guarantee obligations under such agreement from time to time, as “Credit Parties,” the lenders parties thereto from time to time and Bank of America, N.A., as agent (or its successor in such capacity), together with the related notes, letters of credit, guarantees and security documents, and as the same may be amended, restated, amended and restated, supplemented or modified from time to time and any renewal, increase, extension, refunding, restructuring, replacement or refinancing thereof (whether with the original administrative agent and lenders or another administrative agent, collateral agent or agents or one or more other lenders or additional borrowers or guarantors and whether provided under the original ABL Credit Facility or one or more other credit or other agreements or indentures).

  • National Credit Act means the National Credit Act, 2005 (Act No. 34 of 2005);

  • ABL Credit Agreement as defined in the recitals hereto.

  • Federal credit union means a credit union chartered under the Federal Credit Union Act.

  • Additional Credit Party means each Person that becomes a Guarantor by execution of a Joinder Agreement in accordance with Section 5.10.

  • Credit means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment.

  • Existing ABL Credit Agreement means that certain ABL credit agreement, dated as of April 19, 2013, among Petco Animal Supplies, Inc., the lenders party thereto, Bank of America, N.A., (as successor to Credit Suisse AG) as administrative agent, Xxxxx Fargo Bank, National Association, as collateral agent, and the subsidiaries of Petco Animal Supplies, Inc. from time to time party thereto, as amended by that certain First Amendment to the ABL Credit Agreement, dated as of November 21, 2014.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Prepetition Credit Agreement has the meaning specified in the recitals hereto.

  • financial creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred to;

  • operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred;

  • Prepetition Lenders means those lenders party to the Prepetition Credit Agreement from time to time.

  • Bank Credit Agreement means the Revolving Credit and Term Loan Agreement, dated as of January 26, 2015, by and among the Company and certain of its Subsidiaries, Bank of America, N.A., as administrative agent, and the other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Term Loan Exposure means, with respect to any Term Loan Lender, as of any date of determination (a) prior to the funding of the Term Loan, the amount of such Lender’s Term Loan Commitment, and (b) after the funding of the Term Loan, the outstanding principal amount of the Term Loan held by such Lender.

  • Equal Credit Opportunity Act means the Equal Credit Opportunity Act, as amended.

  • 364-Day Credit Agreement means the 364-Day Credit Agreement, dated as of the date hereof, among the Borrowers, the several banks and other financial institutions from time to time parties thereto, JPMorgan Chase Bank, as administrative agent, and the other agents party thereto.

  • Private label credit card means any charge card, credit card, or other instrument serving a similar purpose that carries, refers to, or is branded with the name or logo of a vendor and that can only be used for purchases from the vendor.

  • Term Loan Credit Agreement shall have the meaning set forth in the recitals hereto.

  • Consumer credit means credit offered or extended to a consumer primarily for personal, family, or household purposes.

  • Lender Creditors shall have the meaning provided in the recitals of this Agreement.