Obligor Concentration Limit definition

Obligor Concentration Limit means, 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 shall be determined as follows 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), the applicable concentration limit shall be determined according to the following table: S&P Rating Xxxxx'x Rating Allowable % of Eligible Receivables A-1 P-1 8 % A-2 P-2 6 % A-3 P-3 3 % Below A-3 or Not Rated by either S&P or Moody's Below P-3 or Not Rated by either S&P or Moody's 2 % ; provided, however, that (a) if any Obligor has a split rating, the applicable rating will be the lower of the two, (b) 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 (c) 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 Seller'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 specified in the Fee Letter may be cancelled by the Agent upon not less than five (5) Business Days' written notice to the Seller Parties to the extent either S&P or Moody's issues a negative outlook or downgrades or withdraws any rating of any Obligor subject to a Special Concentration Limit.
Obligor Concentration Limit. At any time, in relation to the aggregate Unpaid Balance of Receivables owed by any single Obligor and its Affiliated obligors (if any):
Obligor Concentration Limit means, 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 shall be determined as follows 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), the applicable concentration limit shall be determined according to the following table: S&P Rating Xxxxx’x Rating Allowable % of Eligible Receivables A-1+ P-1 10% A-1 P-1 8% A-2 P-2 6% A-3 P-3 5% Below A-3 or Not Rated by either S&P or Moody’s Below P-3 or Not Rated by either S&P or Moody’s 5%

Examples of Obligor Concentration Limit in a sentence

  • As of any date, the sum of the amounts by which the aggregate Unpaid Balance of Receivables of each Obligor exceeds the Obligor Concentration Limit for such Obligor.

  • At any time, the aggregate Outstanding Balance of all Eligible Receivables at such time reduced by (i) the aggregate amount by which the Outstanding Balance of all Eligible Receivables of each Obligor and its Affiliates exceeds the Obligor Concentration Limit for such Obligor and its Affiliates (ii) the aggregate Budget Plan Receivable Liability Amount and (iii) the Dual Month Revenue Adjustment.

  • EXHIBIT C to First Amendment to Receivables Loan and Security Agreement {S2487070; 11} SCHEDULE Ito Existing Loan Agreement LIST OF SPECIAL OBLIGORS AND SPECIAL OBLIGOR CONCENTRATION LIMITS Special Obligor Special Obligor Concentration Limit as of Closing Date Wal-Mart Stores, Inc.

  • If no Obligor Credit Event has occurred, the Concentration Limit for a Special Obligor shall be 25%; provided, however that if the ratio of (i) the Unpaid Balance of Receivables owing from the Special Obligor which are greater than 60 days past due to (ii) the aggregate Unpaid Balance of Receivables owing from the Special Obligor shall be 35% or greater for two consecutive Due Periods, the Administrator may, in its sole discretion, reduce the Special Obligor Concentration Limit to 10%.

  • NET POOL BALANCE: At any time, the aggregate Outstanding Balance of all Eligible Receivables at such time reduced by (i) the aggregate amount by which the Outstanding Balance of all Eligible Receivables of each Obligor and its Affiliates exceeds the Obligor Concentration Limit for such Obligor and (ii) the Contractual Dilution Reserve.


More Definitions of Obligor Concentration Limit

Obligor Concentration Limit means, 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 shall be determined as follows 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 rating noted in the table below), the applicable concentration limit shall be determined according to the following table:
Obligor Concentration Limit means, at any time:
Obligor Concentration Limit means, at any time, in relation to the aggregate Unpaid Balance of Receivables owed by any single Obligor and its Affiliated Obligors (if any) (provided that the Servicer may deduct from such Receivables the Unpaid Balance of Receivables of an Obligor and its affiliated Obligors that the Servicer can specifically identify as not being Eligible Receivables), the applicable concentration limit set forth in the chart below (unless the Agent from time to time upon the Borrower’s request agrees to a higher percentage of Eligible Receivables for a particular Obligor and its Affiliates) and determined for Obligors based on their short term unsecured debt ratings (or, in the absence of such a rating, the equivalent long term unsecured senior debt rating as specified below) currently assigned to them by S&P or Moody’s; provided, however, that (a) if such Obligor has a split rating, the applicable rating will be the lower of the two, (b) if such Obligor is rated by only S&P, the applicable rating will be deemed to be one ratings tier below the actual rating by S&P, and (c) if such Obligor is rated by only Moody’s, the applicable rating will be deemed to be one ratings tier below the actual rating by Moody’s, it being understood that if Moody’s has assigned a P-1 rating to such Obligor and S&P has not rated it, the applicable rating will be P-2: S&P Long-Term Moody’s Long-Term S&P Short-Term Moody’s Short-Term Allowable % of Rating Rating Rating Rating Eligible Receivables AAA to AA- Aaa to Aa2 A-1+ P-1 10% A+ to A A-1 8% A- to BBB+ A3 to Xxx0 X-0 P-2 6% BBB-BBB- Baa2 to Xxx0 X-0 P-3 3% S&P Long-Term Moody’s Long-Term S&P Short-Term Moody’s Short-Term Allowable % of Rating Rating Rating Rating Eligible Receivables Below BBB- or Not Rated Below Baa3 or Not Rated Below A-3 or Not Rated Below P-3 or Not Rated 2%
Obligor Concentration Limit means, 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 set forth below 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 long term unsecured senior debt ratings set forth below): Short Term Rating(S&P/Moody’s) Long Term Rating(S&P/Moody’s) MaximumAllowable % of Eligible Receivables A-1/P-1 Aa3 to A2/AA- to A 8.0% A-2/P-2 A3 to Baa1/A- to BBB+ 5.0% X-0/X-0 Xxx0 to Baa3/BBB to BBB- 4.0% Below A-3/P3 or Not Rated Below Baa3/BBB- or Not Rated 2.5%
Obligor Concentration Limit means, at any time, in relation to the aggregate Unpaid Balance of Receivables owed by any single Obligor and its Affiliated Obligors (if any) (provided that the Servicer may deduct from such Receivables the Unpaid Balance of Receivables of an Obligor and its affiliated Obligors that the Servicer can specifically identify as not being Eligible Receivables), the applicable concentration limit set forth in the chart below (unless the Agent from time to time upon the Borrower’s request agrees to a higher percentage of Eligible Receivables for a particular Obligor and its Affiliates) and determined for Obligors based on their short term unsecured debt ratings (or, in the absence of such a rating, the equivalent long term unsecured senior debt rating as specified below) currently assigned to them by S&P or Moody’s; provided, however, that (a) if such Obligor has a split rating, the applicable rating will be the lower of the two, (b) if such Obligor is rated by only S&P, the applicable rating will be deemed to be one ratings tier below the actual rating by S&P, and (c) if such Obligor is rated by only Moody’s, the applicable rating will be deemed to be one ratings tier below the actual rating by Moody’s, it being understood that if Moody’s has assigned a P-1 rating to such Obligor and S&P has not rated it, the applicable rating will be P-2:
Obligor Concentration Limit means, at any time, in relation to the aggregate Unpaid Net Balance of Receivables owed by any single Obligor and its Affiliated Obligors (if any), the applicable concentration limit shall (unless the Administrative Agent from time to time upon the Borrower's request agrees to a higher percentage of Eligible Receivables for a particular Obligor and its Affiliates, which agreement may be conditioned upon an increase in the percentage set forth in clause (A)(i) of the definition of "REQUIRED RESERVE" or upon satisfaction of the Rating Agency Condition) be determined as follows for Obligors who have short term unsecured debt ratings currently assigned to them by S&P and Moody's, the applicable concentration limit shall be determined according to the following table; PROVIDED, HOWEVER, that if such Obligor has a split rating, the applicable rating will be the lower of the two: ---------------------------------- ----------------------------- ------------------------------ Allowable % of Eligible S&P Rating Xxxxx'x Rating Receivables ---------------------------------- ----------------------------- ------------------------------ 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 2% ---------------------------------- ----------------------------- ------------------------------ and PROVIDED, FURTHER, that (a) unless and until the Administrative Agent gives the Borrower 5 Business Days' notice to the contrary, the Obligor Concentration Limit for Aetna U.S. Healthcare, Inc. and its Affiliated Obligors shall be 9% of Eligible Receivables and (b) if the change in a particular Obligor's Obligor Concentration Limit is accomplished by an increase in clause (A)(i) of the definition of Required Reserve, S&P and Moody's will receive notice of the increase and the resulting increase in clause (A)(i) of the Required Reserve.
Obligor Concentration Limit means, with respect to any Obligor at any time, the product of the Obligor Concentration Factor, if any, for such Obligor (treating each Obligor and its Affiliates as if they were a single Obligor), multiplied by the Total Eligible Receivables Balance at such time.