Qualifying Credit Support definition

Qualifying Credit Support means an irrevocable, unconditional, uncollateralized, standby letter of credit or surety bond substantially in the form of EXHIBIT L to the Participation Agreement, issued in favor of the Owner Lessor by a Qualifying Credit Support Issuer (and, so long as the Lessor Notes are outstanding and the Lien of the Lease Indenture shall not have been discharged, assigned to the Lease Indenture Trustee) securing the Facility Lessee's obligation to pay scheduled Rent under the Facility Lease; provided that, in the case of a surety bond, each of S&P and Xxxxx'x shall shave confirmed its then current rating on the Fundco Bonds prior to the Facility Lessee's first use of a surety bond as Qualifying Credit Support.
Sample 1
Qualifying Credit Support means an irrevocable, unconditional, uncollateralized, standby letter of credit or surety bond substantially in the form of Exhibit L to the Participation Agreement, issued in favor of the Owner Lessor by a Qualifying Credit Support Issuer (and, so long as the Lessor Notes are outstanding and the Lien of the Lease Indenture shall not have been discharged, assigned to the Lease Indenture Trustee) securing the Facility Lessee's obligation to pay scheduled Rent under the Facility Lease; provided that, in the case of a surety bond, each of S&P and Xxxxx'x shall have confirmed its then current rating on the Fundco Bonds prior to the Facility Lessee's first use of a surety bond as Qualifying Credit Support.
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Qualifying Credit Support means an irrevocable, unconditional, uncollateralized, standby letter of credit, surety bond or guaranty substantially in the form of Exhibit FF-1, Exhibit FF-2 or Exhibit FF-3, respectively, to the Participation Agreement, issued in favor of the Owner Lessor by a Qualifying Credit Support Issuer (and, so long as the Lessor Notes are outstanding and the Lien of the Lease Indenture shall not have been discharged, assigned to the Lease Indenture Trustee) securing the Facility Lessee's obligation to pay scheduled Rent under the Facility Lease; provided, that in the case of a surety bond, each of S&P and Xxxxx'x shall shave confirmed its then current rating on the Certificates prior to the Facility Lessee's first use of a surety bond as Qualifying Credit Support.
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Examples of Qualifying Credit Support in a sentence

  • Qualifying Credit Support Annexes (CSA) Amendments ARRC has explained that market participants also may choose to align the interest rates paid on posted collateral for uncleared swaps with the discount rate change implemented by the DCOs for cleared swaps described above.

  • The obligation of the parent to provide Qualifying Credit Support is not a covenant in the Participation Agreement.

  • Reference Credit Support Provider Reference Credit Support InstrumentA monoline financial guarantee company which has issued Qualifying Credit Support in respect of a Reference Obligation.

  • MPs selected on the basis of party preferences are drawn from the political party lists.

  • In doing so, the Owner Lessors have articulated a new standard that Qualifying Credit Support must satisfy—i.e., the letters of credit cannot be “effectively collateralized.”Under this standard, Qualifying Credit Support never could come from GenMa. Instead, the Owner Lessors contend that Qualifying Credit Support must come from a third-party like a parent (hence their continued insistence on the GenOn-backed letter of credit).

  • The Form of the Natixis Letters of Credit Demonstrates that TheyConstitute Qualifying Credit Support.

  • During the Delivery Term, the Contract Price shall be determined based on whether Buyer has provided Qualifying Credit Support.

  • BENEFICIAL OWNERSHIP The following section is designed to provide a practical guide with respect to Beneficial Ownership.

  • The dispute arising out of the Natixis Letters of Credit centers on whether the Natixis Letters of Credit are “uncollateralized.” As the parties agree, they are “uncollateralized” as to form in that the term “uncollateralized” means that GenMa cannot secure Qualifying Credit Support with a lien on its assets.


More Definitions of Qualifying Credit Support

Qualifying Credit Support means an arrangement whereby a Reference Credit Support Provider irrevocably guarantees, insures or undertakes to pay all scheduled payments of principal and interest in respect of a Utility/Project Bond or pass through certificates, repackaged bonds or similar funded beneficial interests which are referenced to or credit linked to a Utility/Project Bond. For the avoidance of doubt, Qualifying Credit Support shall exclude any arrangement (i) structured as a surety bond, letter of credit or equivalent legal arrangement or (ii) pursuant to the express contractual terms of which the payment obligations of the Reference Credit Support Provider can be discharged or reduced as a result of the occurrence or a non-occurrence of an event or circumstance (other than payment of the Reference Obligation). In addition, the Qualifying Credit Support must satisfy the following criteria:
Sample 1
Qualifying Credit Support means financial and credit conditions that Buyer may maintain in accordance with Section 5.4 in order to qualify for the corresponding Contract Price as set forth in Exhibit A.
Sample 1
Qualifying Credit Support means an irrevocable unconditional uncollateralized stand by letter of credit, surety bond or guarantee substantially in the form of Exhibit C-1, Exhibit C-2 or Exhibit C-3, respectively, to the Participation Agreement, issued in favor of the Owner Lessor by a Qualifying Credit Support Issuer (and assigned to the Lease Indenture Trustee) securing the Facility Lessee's obligation to pay scheduled Rent under the Facility Lease, provided, that in the case of a surety bond, each of S&P and Moody's must confirm its then current rating on the Certificates prior to the Facility Lessee's first use of a surety bond as Qualifying Credit Support.
Sample 1
Qualifying Credit Support means (i) an irrevocable unconditional stand by letter of credit, surety bond or guarantee substantially in the form of Exhibit C-1, Exhibit C-2, or Exhibit C-3, respectively, to the Participation Agreement, issued in favor of the Owner Lessor (or its permitted assignee) by a Qualifying Credit Support Issuer (and assigned to the Lease Indenture Trustee), provided, that (A) any secured reimbursement obligations in respect of any such Qualifying Credit Support secured with property of the Facility Lessee or the Subsidiary Guarantors are secured only with property of the Facility Lessee and the Subsidiary Guarantors not otherwise securing the Facility Lessee's obligations under the Facility Lease and (B) in the case of a surety bond, each of S&P and Xxxxx'x must confirm its then current rating on the Certificates prior to the Facility Lessee's first use of a surety bond as Qualifying Credit Support or (ii) cash or Cash Equivalents obtained by the Lease Indenture Trustee as assignee of the Owner Lessor pursuant to a draw on any other form of Qualifying Credit Support and held for the benefit of the Owner Lessor (or its permitted assignee), pursuant to a cash collateral agreement or other security agreement reasonably acceptable to the Lease Indenture Trustee executed and delivered to the Lease Indenture Trustee within 10 Business Days after the payment of the drawing on the Qualifying Credit Support giving rise to such cash or Cash Equivalents as security for the Facility Lessee's obligation to pay Periodic Lease Rent or Termination Value under the Facility Lease (it being explicitly understood with respect to credit support in the form of cash or Cash Equivalents that such credit support is for security purposes only and is not a prepayment of rent).
Sample 1

Related to Qualifying Credit Support

  • QFC Credit Support has the meaning specified in Section 11.21.

  • Credit Support Instrument" "Credit Support Provider"

  • S&P Credit Support Amount means, for any Valuation Date, the excess, if any, of:

  • Eligible Credit Support means Eligible Collateral and Other Eligible Support.

  • Substitute Credit Support has the meaning specified in Paragraph 4(d)(i).

  • Fitch Credit Support Amount means, for any Valuation Date, the excess, if any, of:

  • Credit Support Amount has the meaning specified in Paragraph 3.

  • credit supporter means a person or company that provides a guarantee or alternative credit support for any of the payments to be made by an issuer of securities as stipulated in the terms of the securities or in an agreement governing rights of, or granting rights to, holders of the securities;

  • Posted Credit Support means Posted Collateral and Other Posted Support.

  • Credit Support Balance means, with respect to a Transferor on a Valuation Date, the aggregate of all Eligible Credit Support that has been transferred to or received by the Transferee under this Annex, together with any Distributions and all proceeds of any such Eligible Credit Support or Distributions, as reduced pursuant to Paragraph 2(b), Paragraph 3(c)(ii) or Paragraph 6. Any Equivalent Distributions or Interest Amount (or portion of either) not transferred pursuant to Paragraph 5(c)(i) or (ii) will form part of the Credit Support Balance.

  • Credit Support Annex means the Credit Support Annex annexed to this Agreement.

  • Credit Support Instrument The instrument or document pursuant to which the Credit Support for a given Series (or Class within such Series) is provided, as specified in the applicable Supplement.

  • Applicable Credit Support Percentage As defined in Section 4.02(e).

  • Original Applicable Credit Support Percentage With respect to each of the following Classes of Subordinated Certificates, the corresponding percentage described below, as of the Closing Date: Class B-1 % Class B-2 % Class B-3 % Class B-4 % Class B-5 % Class B-6 %

  • Credit Support Provider has the meaning specified in the Schedule.

  • Credit Support Instruments has the meaning set forth in Section 3.01(a).

  • Senior Credit Support Depletion Date The date on which the Class Certificate Balance of each Class of Subordinated Certificates has been reduced to zero.

  • Alternate Credit Facility means any irrevocable direct pay letter of credit, insurance policy or similar credit enhancement or support facility for the benefit of the Trustee, the terms of which Alternate Credit Facility shall in all respects material to the registered owners of the Bonds be the same (except for the term set forth in such Alternate Credit Facility) as those of the Letter of Credit.

  • Credit Support Depletion Date The first Distribution Date on which the Certificate Principal Balances of the Subordinate Certificates have been reduced to zero.

  • Eligible Counterparty means an “Eligible Counterparty” for the purposes of the Law.

  • Eligible Collateral means, with respect to a party, the items, if any, specified as such for that party in Paragraph 13.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Other Eligible Support means, with respect to a party, the items, if any, specified as such for that party in Paragraph 13.

  • Alternative Benchmark Rate means an alternative benchmark or screen rate which is customarily applied in international debt capital markets transactions for the purposes of determining floating rates of interest (or the relevant component part thereof) in the Specified Currency, provided that all determinations will be made by the Independent Adviser in its reasonable discretion.

  • Tier 2 Support means the Esri Technical Support provided to the Tier 1 Help Desk when a Case cannot be resolved through Tier 1 Support.