Obligor Concentration Factor definition

Obligor Concentration Factor means, with respect to any Obligor (treating each Obligor and its Affiliates as if they were a single Obligor) as of any date of determination, the percentage, if applicable, specified (or the percentage resulting from the calculation specified) under the heading “Obligor Concentration Factor” in the grid immediately below; except that, with respect to Kraft Heinz Company, its “Obligor Concentration Factor” shall be the greater of (i) the percentage resulting from the calculation specified under the heading “Obligor Concentration Factor” in the grid immediately below and (ii) 4%. The Obligor Concentration Factor shall be based upon an Obligor’s short-term Debt Ratings unless no such short-term Debt Rating is available from either S&P or Moody’s, in which case such Obligor’s long-term Debt Ratings will be used.In the event the ratings of any Obligor from S&P and Moody’s fall within different ratings levels, the Obligor Concentration Factor for such Obligor shall be determined using the lower rating.To the extent that the Receivables owing by any Obligor are subject to Approved Credit Enhancement and the aggregate Outstanding Balance of Portfolio Receivables owing by such Obligor would otherwise exceed the then applicable Obligor Concentration Factor for such Obligor based on the applicable Debt Ratings of such Obligor, the rating of such credit enhancer will be used for the purpose of determining the applicable Obligor Concentration Factor.
Sample 1Sample 2
Obligor Concentration Factor means, with respect to any Obligor (treating each Obligor and its Affiliates as if they were a single Obligor) as of any date of determination, the percentage, if applicable, specified (or the percentage resulting from the calculation specified) under the heading “Obligor Concentration Factor” in the grid immediately below; except that, (i) with respect to Conagra Foods, Inc., its “Obligor Concentration Factor” shall be (x) 10% or (y) 4% if at any time Conagra Foods, Inc. (A) has a short-term Debt Rating lower than A-3 from S&P or P-3 from Xxxxx’x or has no short-term Debt Rating; or (B) has a long-term Debt Rating lower than BBB- from S&P or Baa3 from Xxxxx’x or has no long-term Debt Rating and (ii) with respect to Xxxxx Xxxxx Company, its “Obligor Concentration Factor” shall be (x) 10% or (y) 4% if at any time Xxxxx Xxxxx Company (A) has a short-term Debt Rating lower than A-3 from S&P or P-3 from Xxxxx’x or has no short-term Debt Rating; or (B) has a long-term Debt Rating lower than BBB- from S&P or Baa3 from Xxxxx’x or has no long-term Debt Rating. Obligor’s Short-Term Debt Rating (S&P/Xxxxx’x) Obligor’s Long-Term Debt Rating (S&P/Xxxxx’x) Obligor Concentration Factor Lower than A-3/P-3 or no Debt Rating Lower than BBB-/Baa3 or no Debt Rating Loss Reserve Floor/5 The Obligor Concentration Factor shall be based upon an Obligor’s short-term Debt Ratings unless no such short-term Debt Rating is available from either S&P or Xxxxx’x, in which case such Obligor’s long-term Debt Ratings will be used. In the event the ratings of any Obligor from S&P and Xxxxx’x fall within different ratings levels, the Obligor Concentration Factor for such Obligor shall be determined using the lower rating. To the extent that the Receivables owing by any Obligor are subject to Approved Credit Enhancement and the aggregate Outstanding Balance of Portfolio Receivables owing by such Obligor would otherwise exceed the then applicable Obligor Concentration Factor for such Obligor based on the applicable Debt Ratings of such Obligor, the rating of such credit enhancer will be used for the purpose of determining the applicable Obligor Concentration Factor.
Sample 1
Obligor Concentration Factor means, at any time, for each Obligor, an amount equal to 20% of the Loss Reserve at such time.
Sample 1

More Definitions of Obligor Concentration Factor

Obligor Concentration Factor means, with respect to any Obligor (treating each Obligor and its Affiliates as if they were a single Obligor) as of any date of determination, the percentage, if applicable, specified (or the percentage resulting from the calculation specified) under the heading “Obligor Concentration Factor” in the grid immediately below; except that, with respect to Kraft Heinz Company, its “Obligor Concentration Factor” shall be the greater of (i) the percentage resulting from the calculation specified under the heading “Obligor Concentration Factor” in the grid immediately below and (ii) 4%.
Sample 1

Related to Obligor Concentration Factor

  • Obligor Concentration Limit At any time, in relation to the aggregate Outstanding Balance of Receivables owed by any single Obligor and its Affiliates (if any), the applicable concentration limit for Obligors who have short term unsecured debt ratings currently assigned to them by S&P and Moody's (or in the absence thereof, the equivalent long term unsecured senior debt ratings), shall be determined according to the following table: ---------------------- ---------------------- ------------------- A-1+ P-1 10% ---------------------- ---------------------- ------------------- A-1 P-1 8% ---------------------- ---------------------- ------------------- A-2 P-2 6% ---------------------- ---------------------- ------------------- A-3 P-3 3% ---------------------- ---------------------- ------------------- Below A-3 or Not Rated Below P-3 or Not Rated The Unrated Obligor by either S&P or by either S&P or Concentration Limit Moody's Moody's ---------------------- ---------------------- ------------------- provided, however, that (i) if any Obligor has a split rating, the applicable rating will be the lower of the two, (ii) if any Obligor is not rated by either S&P or Moody's, the applicable Obligor Concentration Limit shall be the one set forth in the last line of the table above, and (iii) subject to satisfaction of the Rating Agency Condition and/or an increase in the percentage set forth in clause (a)(i) of the definition of "Required Reserve," upon Borrower's request from time to time, the Agent may agree to a higher percentage of Eligible Receivables for a particular Obligor and its Affiliates (each such higher percentage, a "Special Concentration Limit"), it being understood that any Special Concentration Limit may be cancelled by the Agent upon not less than five (5) Business Days' written notice to the Loan Parties.

  • Concentration means the weight of any given material present in a unit volume of liquid. Unless otherwise indicated in this permit, concentration values shall be expressed in milligrams per liter (mg/l).

  • Stored value means monetary value that is evidenced by an electronic record.