Special Limit means, for any Obligor so long as such Obligor’s long term unsecured, non-third party credit enhanced, senior indebtedness is rated at least A (or its equivalent) by S&P and at least A2 (or its equivalent) by Moody’s, 5% of the amount of Aggregate Net Investment then outstanding, unless the Agent, in its discretion or at the direction of an Instructing Group, notifies the Seller of a different limit.
Special Limit means as shall be agreed to in writing by the Agent (with the consent of the Purchaser) for certain Obligors from time to time.
Special Limit means, (i) for National Rx, Inc. ("National Rx"), a wholly owned subsidiary of Merck-Medco Managed Care, Inc., a wholly owned subsidiary of Merck & Co., Inc. ("Merck"), 15.0% of the Outstanding Balance of Eligible Receivables; provided, however, that such Special Limit shall be automatically deemed revoked (A) at the time, if any, when Merck ceases to have a short-term unsecured senior debt rating of higher than "A-2" from S&P and a short-term unsecured senior debt rating of higher than "P-2" from Xxxxx'x or (B) National Rx shall cease at any time to be, directly or indirectly, a wholly owned subsidiary of Merck; (ii) for Longs Drug Stores Corporation ("Longs"), 12.5% of the Outstanding Balance of Eligible Receivables; provided, however, that such Special Limit shall be automatically deemed revoked at the time, if any, when the sum of Defaulted Receivables to Longs exceeds 50% of the total outstanding balance of Receivables to Longs, unless in the case of either (i) or (ii), the Administrative Agent notifies the Seller of a different limit and if such different limit represents an increase, each Rating Agency has approved such increased limit; (iii) for Walgreen Company, 12.0% of the Outstanding Balance of Eligible Receivables; provided, however, that such Special Limit shall be deemed automatically revoked at any time, if any, when Walgreen Company ceases to have a short-term unsecured senior debt rating of higher than "A-2" from S&P and a short-term unsecured senior debt rating of higher than "P-2" from Xxxxx'x; and (iv) such other "Special Limits" as shall be agreed to in writing by the Administrative Agent (with the consent of the Requisite Purchasers) for other Obligors from time to time and approved by the required Rating Agencies.
Examples of Special Limit in a sentence
Rippberger (1991) 231 Cal.App.3d 1667, 1682.) Both murder (based on implied malice) and involuntary manslaughter involve a disregard for life; however, for murder the disregard is judged by a subjective standard whereas for involuntary manslaughter the disregard is judged by an objective standard.
However, this Exclusion shall not apply to any such property for which a Special Limit is specified in the Schedule.
Such LTD supplement shall equal the monthly amount by which such Participant's disability benefit under the LTD Plan was less because of the application of the Salary Deferral Limit and the IRS Special Limit.
If Special Limit is 'Nil’, no indemnity will be payable under this Memorandum.
Therefore, in the event such a Participant becomes eligible for and begins to receive a disability benefit from the LTD Plan and the amount of such disability benefit is limited because of the application of the Salary Deferral Limit or the IRS Special Limit, a "make whole" disability benefit shall be paid from this Plan as a supplement to the disability limit paid from the LTD Plan.
More Definitions of Special Limit
Special Limit means, with respect to the City of Kansas City, Missouri, 5% of the Eligible Receivables Balance.
Special Limit means $5.0 million; and (iii) the value of the Change in Control Benefits shall be the gross amount of salary continuation and bonus continuation, the gross spread on stock options that would vest as a part of the Change in Control Benefits, and the gross value of restricted stock and other awards (other than stock options) that would vest as a part of the Change in Control Benefits. Measures of value of stock options, restricted stock and other awards will be taken at fair market value on the date of termination of employment.
Special Limit means (x) for each of PL Subsidiary, Inc. and its Affiliates, Azteca Production International, Inc. and its Affiliates, Kentucky Apparel, LLP and its Affiliates, and Koo's Manufacturing, Inc. and its Affiliates, 4% and (y) collectively for Levi Xxxxxxx, Xxxx Xxxxxxx Canada, and Levi Xxxxxxx Europe (collectively, the "Levi Xxxxxxx Obligors") and as of any date of determination thereof, (i) 15% if the Levi Xxxxxxx Fixed Charge Coverage Ratio at such time is greater than 1.40:1.00, (ii) 10% if the Levi Xxxxxxx Fixed Charge Coverage Ratio at such time is greater than 1.25:1.00 but less than or equal to 1.40:1.00, or (iii) 5% if the Levi Xxxxxxx Fixed Charge Coverage Ratio at such time is less than or equal to 1.25:1.00. Notwithstanding any of the foregoing, (i) if and for so long as more than 50% in aggregate Outstanding Balance at any one time of the aggregate Receivables owed by the Levi Xxxxxxx Obligors are greater than 60 days past their respective Maturity Dates or 90 days past their respective original invoice dates, the Special Limit shall not exceed 10%, and (ii) the Special Limit for the Levi Xxxxxxx Obligors thereafter shall not exceed 10% from and after the 30th day prior to the expiration date of the Credit Facility as then in effect unless and until (a) the Credit Facility as then in effect has been extended for a period acceptable to the Purchaser, the Operating Agent and the Collateral Agent or refinanced on terms acceptable to the Purchaser, the Operating Agent and the Collateral Agent or (b) Cone Xxxxx shall have obtained a legally binding written commitment for such refinancing or extension on terms acceptable to the Purchaser, the Operating Agent and the Collateral Agent, and in either such case with the Credit Facility Lenders or with another lender or lenders acceptable to the Purchaser, the Operating Agent and the Collateral Agent. The Special Limit may be changed at any time at the sole discretion of the Operating Agent and, in the case of an increase only, upon satisfaction of the Rating Agency Condition with respect thereto.
Special Limit means, (i) with respect to VF Corporation as long as such Person's (a) long term unsecured debt rating is at least "BBB" from S&P and (b) long-term unsecured debt rating is at least "Baa2" from Moody's, 26%, (ii) with respect to Flynn Enterprises, Inc., as long xx xxxher (a) such Person is unratxx xx both S&P and Moody's or (b) the Rating Agency Condition has been satisfied after xxxx Xerson is rated by S&P and/or Moody's, 8%, (iii) with respect to Williamson-Dickie Manufacturing Xxxxxxx, as long as either (a) such Xxxxxx xx xxxxxxd by both S&P and Moody's or (b) the Rating Agency Condition has been satisfied after xxxx Xerson is rated by S&P and/or Moody's, 7% and (iv) with respect to any other Person, subject to sxxxxxxxtion of the Rating Agency Condition, such percentage as may be specified by the Administrative Agent; provided, however, that each of the percentages contained in the foregoing definition may be changed at any time by the Administrative Agent, and, in the case of an increase only, upon satisfaction of the Rating Agency Condition with respect thereto; provided, further, that, as long as no Termination Event has occurred, the Administrative Agent shall give advance written notice to the Seller with respect to each such modification.
Special Limit means (i) an amount not to exceed 35% of the aggregate outstanding principal balance of all Eligible Receivables for Special Obligors with unsecured debt ratings of at least "A-" and "A3" by S&P and Xxxxx'x, respectively, (ii) an amount not to exceed 15% of the aggregate outstanding principal balance of all Eligible Receivables for Special Obligors with unsecured debt ratings of at least "BBB+" and "Baa1" but less than "A-" and "A3" by S&P and Xxxxx'x, respectively, (iii) an amount not to exceed 10% of the aggregate outstanding principal balance of all Eligible Receivables for Special Obligors with unsecured debt ratings of at least "BBB" and "Baa2" but less than "BBB+" and "Baa1" by S&P and Xxxxx'x, respectively, (iv) an amount not to exceed 7.5% of the aggregate outstanding principal balance of all Eligible Receivables for Special Obligors with unsecured debt ratings of at least "BBB-" and "Baa3" but less than "BBB" and "Baa2" by S&P and Xxxxx'x, respectively, and (v) an amount not to exceed 2.5% of the aggregate outstanding principal balance of all Eligible Receivables for Special Obligors with unsecured debt ratings of below "BBB" and "Baa3" by S&P and Xxxxx'x, respectively; provided, however, that if any Special Obligor is not rated by either S&P or Xxxxx'x, the applicable Concentration Limit shall be 2.5%.
Special Limit means an amount not to exceed the applicable percentage (as set forth in the table below based on the short-term unsecured debt rating of the applicable Special Obligor) of the aggregate outstanding principal balance of all Eligible Receivables for each Special Obligor; provided, that if there is a split rating by Xxxxx’x and S&P, the Special Limit shall be determined by reference to the lower of the two ratings; provided, further, that if (i) the short-term unsecured debt of any Special Obligor (other than Navistar and Ford) is not rated by either S&P or Xxxxx’x, the applicable Concentration Limit shall be 4.0%, (ii) the short-term unsecured debt of NaviStar is not rated by either S&P or Xxxxx’x, the applicable Concentration Limit shall be 6.0%, and (iii) the short-term unsecured debt of Ford is not rated (a) by Xxxxx’x but is rated by S&P, the applicable Concentration Limit shall be determined solely on the current rating by S&P and (b) by both S&P and Xxxxx’x, the applicable Concentration Limit shall be 4%. AUTOZONE DAIMLER XXXX XX NAVISTAR S&P XXXXX'X A1 P1 20.00% 20.00% 20.00% 20.00% 20.00% A2 P2 12.50% 15.00% 15.00% 15.00% 10.00% A3 P3 6.67% 6.67% 10.00% 6.67% 7.00% <A3 <P3 4.00% 4.00% 4.00% 4.00% 6.00%
Special Limit means, only for so long as the applicable Obligor described below has its long term unsecured indebtedness rated not less than A- by S&P and A3 by Moodx'x, xxth respect to (a) Ford Motor Company, 20% of the outstanding principal balance of all Eligible Receivables, (b) Caterpillar Corporation, 10% of the outstanding principal balance of all Eligible Receivables and (c) General Motors Corporation, 10% of the outstanding principal balance of all Eligible Receivables, unless the Administrative Agent, in its discretion or at the direction of an Instructing Group, notifies the Borrower of a different limit.