Approved Ratings Threshold Sample Clauses

Approved Ratings Threshold. Upon the occurrence of a Collateralization Event (as defined below), if Party A has not, within 30 days after such ratings downgrade (unless, within 30 days after such downgrade, each applicable Rating Agency has reconfirmed the rating of the Certificates which was in effect immediately prior to such downgrade (determined without regard to any financial guaranty insurance policy, if applicable), unless the rating of the Certificates were changed due to a circumstance other than the downgrading of Party A's (or its Credit Support Provider’s) rating), complied with one of the four solutions listed below, then an Additional Termination Event shall have occurred with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event. In the event that (A) either (i) the unsecured, long-term senior debt obligations of Party A (or its Credit Support Provider) are rated below “A1” by Xxxxx'x or are rated “A1” by Xxxxx'x and such rating is on watch for possible downgrade (but only for so long as it is on watch for possible downgrade) or (ii) the unsecured, short-term debt obligations of Party A (or its Credit Support Provider) are rated below “P-1” by Xxxxx'x or are rated “P-1” by Xxxxx'x and such rating is on watch for possible downgrade (but only for so long as it is on watch for possible downgrade), (B) no short-term rating is available from Xxxxx’x and the unsecured, long-term senior debt obligations of Party A (or its Credit Support Provider) are rated below "Aa3" by Xxxxx'x or are rated “Aa3” by Xxxxx'x and such rating is on watch for possible downgrade (but only for so long as it is on watch for possible downgrade), or (C) either (i) the unsecured, short-term debt obligations of Party A (or its Credit Support Provider) are rated below “A-1” by S&P or (ii) if Party A (or its Credit Support Provider) does not have a short-term rating from S&P, the unsecured, long-term senior debt obligations of Party A (or its Credit Support Provider) are rated below “A+” by S&P (such event, a "Collateralization Event"), then, Party A, at its own cost and subject to the Rating Agency Condition, shall within 30 days either (i) cause another entity to replace Party A as party to this Agreement that satisfies the Swap Counterparty Ratings Requirement and that is approved by Party B (which approval shall not be unreasonably withheld) on terms substantially similar to this Agreement; (ii) obtain a guaranty of, or a contingent agreemen...
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Related to Approved Ratings Threshold

  • Required Ratings The Offered Certificates shall have received Required Ratings of at least [ ] from [ ].

  • Second Rating Trigger Replacement If (A) a Required Ratings Downgrade Event has occurred and been continuing for 30 or more Local Business Days and (B) (i) at least one Eligible Replacement has made a Firm Offer to be the transferee of all of Party A's rights and obligations under this Agreement (and such Firm Offer remains an offer that will become legally binding upon such Eligible Replacement upon acceptance by the offeree) and/or (ii) an Eligible Guarantor has made a Firm Offer to provide an Eligible Guarantee (and such Firm Offer remains an offer that will become legally binding upon such Eligible Guarantor immediately upon acceptance by the offeree), then an Additional Termination Event shall have occurred with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event.

  • Moody’s 37 Mortgage.....................................................................37

  • Debt Ratings Prompt notice of any change in its Debt Ratings.

  • Credit Rating The credit facilities provided for under this Agreement shall have been assigned a credit rating by S&P and Xxxxx’x.

  • Debt Rating The Liquidity Provider has a short-term debt ratings of “P-1” from Xxxxx’x and “F1+” from Fitch.

  • Annual Rating Review (a) So long as any of the Secured Notes of any Class remains Outstanding, on or before March 26th in each year commencing in 2021, the Issuer shall obtain and pay for an annual review of the rating of each such Class of Secured Notes from the Rating Agency, as applicable. The Issuer shall promptly notify the Trustee and the Collateral Manager in writing (and the Trustee shall promptly provide the Holders with a copy of such notice) if at any time the Issuer is notified or has actual knowledge that the then-current rating of any such Class of Secured Notes has been, or is known will be, changed or withdrawn.

  • Ratings Downgrade For purposes of each Transaction:

  • Payment Grace Period The Borrower shall have a ten (10) day grace period to pay any monetary amounts due under this Note, after which grace period a default interest rate of fifteen percent (15%) per annum shall apply to the amounts owed hereunder.

  • Credit Ratings Use commercially reasonable efforts to maintain at all times (a) a credit rating by each of S&P and Xxxxx’x in respect of the Term Facility and (b) a public corporate rating by S&P and a public corporate family rating by Xxxxx’x for the Borrower, in each case with no requirement to maintain any specific minimum rating.

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