Credit Standards shall have the meaning set forth on Exhibit "J" hereto.
Credit Standards means, in the case of any Person, (a) that such Person is acceptable to the appropriate internal committees of the Owner Participant with respect to limits on total credit exposure to such Person and limitations on total credit exposure to the country (other than the U.S.) in which such Person is located, (b) that such Person is acceptable based upon the then existing credit policies or practices of the appropriate internal committees of the Owner Participant, and (c) that such Person is not engaged in any material litigation with the Owner Participant or any of its Affiliates.
Credit Standards means, with respect to any Person, such Person or such Person’s Parent has outstanding long-term unsecured debt securities that are rated at least BBB- by Standard and Poor’s Rating Group or at least Baa3 by Xxxxx’x Investors Service, Inc. (or, if either entity changes its rating system, the comparable rating under such changed system), and in either case, as applicable, with a stable or better outlook; provided, that if such Person or its Parent has outstanding long-term unsecured debt securities that are rated by both Standard and Poor’s Rating Group and Xxxxx’x Investors Service, Inc., such ratings cannot be below BBB- and Baa3, respectively; provided further, that if such Person or its Parent is a Fund that is a potential Transferee under Section 3.6 and such Person or its Parent does not have outstanding rated long- term unsecured debt securities, then such Person or its Parent has a tangible net worth, bona fide capital commitments, fair market value of investments or other assets over which such Person or its Parent has supervisory control, as applicable, in excess of two billion dollars ($2,000,000,000) and the sum of such Person’s financial commitments with respect to the Company is less than fifteen percent (15%) of such Person’s tangible net worth, bona fide capital commitments, fair market value of investments or other assets over which such Person has supervisory control.
Examples of Credit Standards in a sentence
The Servicer will comply in all material respects with the Credit Standards and Collection Policies and Customary Practices with respect to each Pledged Loan.
In managing, administering, servicing and making collections on the Pledged Loans pursuant to this Indenture, the Servicer will exercise that degree of skill and care consistent with Customary Practices and the Credit Standards and Collection Policies.
The Servicer will not make any change in the Credit Standards and Collection Policies or deviate from the exercise of Customary Practices, which change or deviation would materially impair the value or collectibility of any Pledged Loan.
Comply in all material respects with the Credit Standards and Collection Policies and Customary Practices in regard to each Pledged Loan and the related Pledged Assets.
The terms of any program involving variances from the Bank's general Credit Standards or changes in the terms of the Bank's agreement with any person who holds a Credit Card, including (without limitation) fees or other charges to be paid by either party, shall be agreed on a program-by-program basis.
More Definitions of Credit Standards
Credit Standards means, with respect to any Person, that (a) such Person’s long-term unsecured debt securities are (i) rated at least BBB- by Standard and Poor’s Rating Group (or, if such entity changes its rating system, the comparable rating under such changed system) or at least Baa3 by Xxxxx’x Investors Services, Inc. (or, if such entity changes its rating system, the comparable rating under such changed system), in each case with stable outlook or, in the case of a potential Transferee under Section 3.6, if either of such rating agencies is no longer in business or no longer is rating such indebtedness of such Person or its guarantor, a comparable rating of another internationally recognized rating agency selected by the Non-Transferring Member(s) and (ii) not rated below either BBB- by Standard and Poor’s Rating Group (or, if such entity changes its rating system, the comparable rating under such changed system) or below Baa3 by Xxxxx’x Investors Services, Inc. (or, if such entity changes its rating system, the comparable rating under such changed system); and (b) the sum of such Person’s financial commitments with respect to the Company is less than 15% of such Person’s tangible net worth. For this purpose, the term “tangible net worth” shall mean a Person’s net equity less goodwill, patents, unamortized loan costs or restructuring costs and other intangible assets, all determined in accordance with GAAP as of the end of the most recent fiscal quarter for such Person.
Credit Standards means, with respect to any Person, that such Person’s long-term unsecured debt securities are rated at least BB by Standard and Poor’s Rating Group (or, if such entity changes its rating system, the comparable rating under such changed system) and at least Ba2 by Xxxxx’x Investors Services, Inc. (or, if such entity changes its rating system, the comparable rating under such changed system), in each case with stable outlook or, if either of such rating agencies is no longer in business or no longer is rating such indebtedness of such Person or its guarantor, a comparable rating of another internationally recognized rating agency acceptable to the Company Board by Unanimous Consent, or, if no internationally recognized rating agency is rating such indebtedness of such Person, that such Person has been determined to be creditworthy by the Company Board with Unanimous Consent.
Credit Standards means, as to any Person, that such Person (i) is acceptable to the appropriate internal committees of the Owner Participant with respect to limitations on total credit exposure to such Person and limitations on total credit exposure to the country (other than the United States) in which such Person is located, (ii) is acceptable to the Owner Participant based upon the then-existing credit policies or practices of the appropriate internal committees of the Owner Participant, and (iii) except in the case of a bankruptcy or similar proceeding in which the Owner Participant is the debtor, is not engaged in material litigation with the Owner Participant or any of its Affiliates.
Credit Standards means, with respect to any Person, that such Person has a long term issuer rating of at least *** by Standard and Poor’s Rating Group (S&P) or at least *** by Xxxxx’x Investors Service, Inc. (or, if either entity changes its rating system, the comparable rating under such changed system), or equivalent ratings from another ratings agency that is classified as a nationally recognized statistical ratings organization by the US Securities & Exchange Commission if S&P or Xxxxx’x ceases to exist or to issue credit ratings, and in any case, as applicable, with a EXHIBIT 10.1 EXECUTION VERSION stable or better outlook; provided, however, that if such Person is rated differently by multiple agencies, the lowest rating shall be used in making such determination.
Credit Standards means, with respect to any Person or its guarantor, that (a) such Person's or its guarantor's long-term unsecured debt securities are rated at least BBB- by Standard and Poor's Rating Group (or, if such entity changes its rating system, the comparable rating under such changed system) and at least Baa3 by Xxxxx'x Investors Services, Inc. (or, if such entity changes its rating system, the comparable rating under such changed system), in each case with stable outlook or, in the case of a potential Transferee under Section 7, if either of such rating agencies is no longer in business or no longer is rating such indebtedness of such Person or its guarantor, a comparable rating of another internationally recognized rating agency selected by the non-Transferring Members; and (b) the sum of such Person's or its guarantor's financial commitments with respect to the Project is less than 15% of such Person's or its guarantor's tangible net worth. For this purpose, the term "tangible net worth" shall mean a Person's net equity less goodwill, patents, unamortized loan costs or restructuring costs and other intangible assets, all determined in accordance with GAAP as of the end of the most recent fiscal quarter for such Person.
Credit Standards shall have the meaning set forth in Section 6.8.
Credit Standards means, with respect to any Person, that such Person has a long term issuer rating of at least *** by Standard and Poor’s Rating Group (S&P) or at least *** by Xxxxx’x Investors Service, Inc. (or, if either entity changes its rating system, the comparable rating under such changed system), or equivalent ratings from another ratings agency that is classified as a nationally recognized statistical ratings organization by the US Securities & Exchange Commission if S&P or Xxxxx’x ceases to exist or to issue credit ratings, and in any case, as applicable, with a EXECUTION VERSION stable or better outlook; provided, however, that if such Person is rated differently by multiple agencies, the lowest rating shall be used in making such determination.