Qualifying LC Issuer definition

Qualifying LC Issuer has the meaning assigned to such term in the P1 Accounts Agreement.
Sample 1Sample 2Sample 3
Qualifying LC Issuer means a bank whose long term unsecured and unguaranteed debt is rated by at least one of S&P, Fitch or Moody’s and at least one such rating is equal to or better than “A-” by S&P or Fitch or “A3” by Moody’s and has a combined capital and surplus of at least $1,000,000,000.
Sample 1
Qualifying LC Issuer means an international bank which has a credit rating of A- or higher from Standard & Poor’s or the equivalent or higher rating from Moody’s Investor Service, provided that upon the 2004 Borrower’s request, the 2004 Security Trustee may (acting on the instructions of the Instructing Group, in their sole discretion approve) an international bank as a “Qualifying LC Issuer” in relation to one or more of the letters of credit to be issued hereunder notwithstanding that it fails to meet such minimum credit rating requirement.
Sample 1

Related to Qualifying LC Issuer

  • Qualifying Lender has the meaning set forth in Section 2.05(a)(v)(D)(3).

  • UK Qualifying Lender means a Lender which is beneficially entitled to interest payable to that Lender in respect of an advance under a Loan Document and is:

  • LC Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • Qualifying Facility means an electric energy generating facility that complies with the qualifying facility definition established by PURPA and any FERC rules as amended from time to time (18 Code of Federal Regulations Part 292, Section 292.203 et seq.) implementing PURPA and, to the extent required to obtain or maintain Qualifying Facility status, is self-certified as a Qualifying Facility or is certified as a Qualified Facility by the FERC.

  • qualifying holding means a direct or indirect holding in an undertaking which represents 10 % or more of the capital or of the voting rights or which makes it possible to exercise a significant influence over the management of that undertaking;

  • Qualifying Company means a qualifying company within the meaning of section 110 of the Taxes Act;

  • Qualifying tax rate means the applicable tax rate for the taxable year for the which the taxpayer paid income tax to a municipal corporation with respect to any portion of the total amount of compensation the payment of which is deferred pursuant to a nonqualified deferred compensation plan. If different tax rates applied for different taxable years, then the “qualifying tax rate” is a weighted average of those different tax rates. The weighted average shall be based upon the tax paid to the municipal corporation each year with respect to the nonqualified deferred compensation plan.

  • Qualifying week means the 15th week before the expected week of childbirth.

  • Issuing Lender means WFF or any other Lender that, at the request of Administrative Borrower and with the consent of Agent, agrees, in such Lender’s sole discretion, to become an Issuing Lender for the purpose of issuing L/Cs or L/C Undertakings pursuant to Section 2.12.

  • Designated Borrower has the meaning specified in the introductory paragraph hereto.