Qualified Financial Institution definition

Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

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Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America, Europe or Japan, which at that time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated either: (i) A-1 or higher by S&P or any successor, or any other comparable rating then used by that rating agency, or (ii) P-1 or higher by Moody’s Investors Service or any successor, or any other comparable rating then used by that rating agency.

Qualified Financial Institution means a bank or credit union as defined in section 12C.1.

Examples of Qualified Financial Institution in a sentence

With respect to the TIFIA Reserve Account, any letter of credit, insurance policy or similar instrument shall be issued by a Qualified Financial Institution and, in the case of any letter of credit, such letter of credit shall be an Acceptable Letter of Credit.
The Borrower may replace all or a portion of the required balance on each such Reserve Account, if permitted by and in accordance with the terms of the Bond Documents, with an irrevocable letter of credit, insurance policy or similar instrument provided by a Qualified Financial Institution.
Interest-bearing negotiable certificates of deposit, interest-bearing time deposits, interest-bearing savings accounts or bankers’ acceptances, issued by a Qualified Financial Institution whose unsecured short-term obligations are rated in the Highest Rating Category.
Interest-bearing negotiable certificates of deposit, interest-bearing time deposits or interest-bearing savings accounts, issued by a Qualified Financial Institution, if such deposits or accounts are fully insured by the Federal Deposit Insurance Corporation.
The letter of credit will be procured from a Qualified Financial Institution, and may be drawn down at any time by the Company, only for the purposes set forth in Section 12.07(i), (ii) or (iii) of this Agreement, without diminution because of the insolvency of the Company or the Reinsurer.

More Definitions of Qualified Financial Institution

Qualified Financial Institution means, for the purpose of determining the Non-scheduled Early Repayment Amount, a financial institution organised under the laws of any jurisdiction in the United States of America or Europe, which at that time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated either:

Qualified Financial Institution means a bank, savings association, or credit union whose deposits are insured by the federal government.

Qualified Financial Institution means an institution that is:

Qualified Financial Institution means a financial institution as defined in the individual or family development account program act, 2006 PA 513, MCL 206.701 to 206.711.

Qualified Financial Institution means a bank, credit union, or savings and loan as defined in section 12C.1.

Qualified Financial Institution means a financial institution or private financial management firm

Qualified Financial Institution means a bank, savings