Annual Rating Sample Clauses
The Annual Rating clause establishes a process for periodically evaluating and adjusting certain terms, typically financial rates or premiums, on an annual basis. In practice, this clause may require parties to review and potentially renegotiate rates each year based on factors such as performance metrics, market conditions, or claims history. Its core function is to ensure that contract terms remain fair and reflective of current circumstances, thereby managing risk and maintaining the agreement's relevance over time.
Annual Rating. The Borrower shall, commencing in 2022, no earlier than June 1 and no later than the last Business Day of June of each year during the term of the TIFIA Loan, provide to the TIFIA Lender, at no cost to the TIFIA Lender, a public rating letter by a Nationally Recognized Statistical Rating Organization on the TIFIA Bond and the existing ratings on any other outstanding Bonds; provided, however, that (i) the delivery of such rating letter shall not be required hereunder if the Borrower, in connection with the issuance of any Future Bonds in accordance with Section 16(b) (Issuance of Future Bonds), has previously provided to the TIFIA Lender a public rating letter issued by a Nationally Recognized Statistical Rating Organization covering the TIFIA Bond and any other Bonds then outstanding that is dated no earlier than the preceding December 1 and (ii) a rating report is not required to be included along with such annual rating letter as long as the Borrower provides to the TIFIA Lender, at no cost to the ▇▇▇▇▇ ▇▇▇▇▇▇, a rating report with a rating letter on the TIFIA Bond and any other outstanding Bonds (A) upon the issuance of any Future Bonds, (B) at any time the rating on the TIFIA Bond or any other outstanding Bonds is changed, and (C) at least once every five (5) years.
Annual Rating. The Borrower shall, commencing in 2018, no later than the last Business Day of June of each year during the term of the TIFIA Bond, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on the Senior Obligations and on the TIFIA Bond by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection with each such rating, in each case prepared no earlier than June 1 of such year.
Annual Rating. The Borrower shall, commencing 2in021, no later than the last Business Day of June of each year during the term of the LToIFaInA, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on the TIFLIAoan by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection weitahchsuch rating, in each case preparedeanrolier than June 1 of such year. 8 Note to Borrower: If the law ishcanged or another change impacts the availability of LTF and/or STA funthdes to Borrower, the TIFIA Lender will want to know how the Borrower intends to address such change, including any alternative funding sources that will be utilized.
Annual Rating. The Concessionaire shall, commencing in 2008, no later than the last Business Day of December of each year over the term of the TIFIA Loan, at no cost to the TIFIA Lender, provide to the TIFIA Lender a private rating on the Senior Loan by a Nationally Recognized Rating Agency.
Annual Rating. Employees shall receive an annual performance rating for the performance appraisal period. Performance ratings are issued in writing to the employees within 30 days following the end of the rating period.
Annual Rating. The Issuer will maintain a rating of the Notes from any one of S&P, Moody’s or DBRS, provided that, no specific credit rating in respect of the Notes shall be required to be obtained or maintained by the Issuer.
Annual Rating. The Borrower shall, commencing in 2021, no later than the last Business Day of June of each year during the term of the TIFIA Loan, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on the TIFIA Loan by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection with each such rating, in each case prepared no earlier than June 1 of such year. 8 Note to Borrower: If the law is changed or another change impacts the availability of LTF and/or STA funds to the Borrower, the TIFIA Lender will want to know how the Borrower intends to address such change, including any alternative funding sources that will be utilized.