Certificate Ratings Sample Clauses

Certificate Ratings. On the Closing Date, the Trustee shall authenticate and deliver the Certificates upon instructions from the Contract Seller pursuant to Section 2.07 and the receipt of the following documents:
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Certificate Ratings. It is a condition to the issuance of the Class 1-A1, Class 1-A2, Class 2-A1, Class 2-A2 and Class A-IO Certificates that they be rated “AAA” by each of Standard & Poor’s Rating Services, a division of The XxXxxx-Xxxx Companies, Inc. (“S&P”) and Fitch, Inc. (“Fitch Ratings”). It is a condition to issuance of the Class M1 Certificates that they be rated AA by each of S&P and Fitch Ratings. It is a condition to issuance of the Class M2 Certificates that they be rated “A” by each of S&P and Fitch Ratings. It is a condition to the issuance of the Class M3 Certificates that they be rated “A-” by each of S&P and Fitch Ratings. It is a condition to the issuance of the Class M4 Certificates that they each be rated “BBB+” by each of S&P and Fitch Ratings and “Baa2” by Xxxxx’x Investors Service, Inc. (“Moody’s”). It is a condition to the issuance of the Class M5 Certificates that they be rated “BBB” by each of S&P and Fitch Ratings and “Baa2” by Moody’s. It is a condition to issuance of the Class B Certificates that they be rated “BBB-” by each of S&P and Fitch Ratings and “Baa3” by Moody’s.
Sample 1
Certificate Ratings. It is a condition to the issuance of the Class 1-A1, Class 1-A2, Class 2-A, Class 3-A1, Class 3-A2 and Class A-IO Certificates that they be rated “AAA” by Standard & Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc. (“S&P”), “AAA” by Fitch, Inc. (“Fitch”) and “Aaa” by Xxxxx’x Investors Service, Inc. (“Moody’s”). It is a condition to issuance of the Class M1 Certificates that they be rated “AA” by S&P, “AA” by Fitch and “Aa2” Moody’s. It is a condition to issuance of the Class M2 Certificates that they be rated “A” by S&P, “A” by Fitch and “A2” by Moody’s. It is a condition to the issuance of the Class M3 Certificates that they be rated “A-” by S&P, “A-” by Fitch and “A3” by Moody’s. It is a condition to the issuance of the Class M4 Certificates that they each be rated “BBB+” by S&P, “BBB+” by Fitch and “Baa1” by Moody’s. It is a condition to the issuance of the Class M5 Certificates that they be rated “BBB” by S&P, “BBB” by Fitch and “Baa2” by Moody’s. It is a condition to the issuance of the Class B Certificates that they be rated “BBB-” by Fitch and “Baa3” by Moody’s.
Sample 1
Certificate Ratings. It is a condition of Closing that at the Closing Date the Class 1-A1, Class 1-A2, Class 2-A1, Class 2-A2, Class 3-A1, Class 3-A2, Class 4-A1, Class 4-A2 and Class R Certificates be rated "AAA" by Standard & Poor's, A Division of The McGraw-Hill Companies, Inc. ("S&P"), and "Aaa" by Moody's Investors Sxxxxxx, Xxx., ("Moody's" and together with S&P, thx "Xxxxng Agencies"); the Class B1-I, Class B1-I-X and Class B1-II Certificates be rated "AA" by S&P and "Aa2" by Moody's; the Class B2-I, Class B2-I-X and Class B2-II Certificates be rated "A" by S&P and "A2" by Moody's and the Class B3 Certificates be rated "BBB" by S&P and "Baa2" by Moody's.
Sample 1
Certificate Ratings. Class Fitch S&P ----------- ----- ---- Class 1-A-1 AAA AAA Class 1-A-2 AAA AAA Class 1-A-R AAA AAA Class 2-A-1 AAA AAA Class 2-A-2 AAA AAA Class 2-A-3 AAA AAA Class 2-A-4 AAA AAA Class 3-A-1 AAA AAA Class 3-A-2 AAA AAA Class 4-A-1 AAA AAA Class 4-A-2 AAA AAA Class B-1 AA None Class B-2 A None Class B-3 BBB None I-3 SCHEDULE II DISCLOSURE PACKAGE
Sample 1
Certificate Ratings. It is a condition of Closing that at the Closing Date the Class 1-A, Class 2-A1, Class 2-A2, Class 3-A1, Class 3-A2, Class 4-A1, Class 4-A2, Class 5-A1, Class 5-A2 and Class R Certificates be rated "AAA" by Standard & Poor's, A Division of The McGraw-Hill Companies, Inc. ("S&P") and Fitch, Inc. ("Fitch"); the Clxxx X0 Xxxxificates be rated "AA" by S&P; the Class B2 Certificates be rated "A" by S&P and the Class B3 Certificates be rated "BBB" by S&P. TERMS OF SALE OF OFFERED CERTIFICATES: The Depositor agrees to sell to Lehman Brothers Inc., (the "Underwriter") and the Underwriter agrees xx xxxchase from the Depositor, the Offered Certificates in the principal amounts and prices set forth on Schedule 1 annexed hereto. The purchase price for the Offered Certificates shall be the Purchase Price Percentage set forth in Schedule 1 plus accrued interest at the initial interest rate per annum from and including the Cutoff Date up to, but not including, the Closing Date. The Underwriter will offer the Offered Certificates to the public from time to time in negotiated transactions or otherwise at varying prices to be determined at the time of sale.
Sample 1

Related to Certificate Ratings

  • Rating Agencies To the extent, if any, that the ratings provided with respect to the Offered Certificates by certain nationally recognized statistical rating organizations (as described in Section 6(q)) are conditional upon the furnishing of documents or the taking of any other action by the Depositor, the Depositor shall use its best efforts to furnish such documents and take any other such action.

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

  • Rating The Notes can be issued without the requirement that they have any rating from a nationally recognized statistical rating organization.

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

  • Ratings No “nationally recognized statistical rating organization” as such term is defined for purposes of Rule 436(g)(2) (i) has imposed (or has informed the Company that it is considering imposing) any condition (financial or otherwise) on the Company’s retaining any rating assigned to the Company or any securities of the Company or (ii) has indicated to the Company that it is considering any of the actions described in Section 7(c)(ii) hereof.

  • Rating Agency Fees The Depositor shall pay (or cause to be paid) the annual fees of each Rating Agency including, but not limited to, surveillance fees.

  • Notice to Rating Agencies The Trustee shall use its best efforts promptly to provide notice to the Rating Agencies with respect to each of the following of which it has actual knowledge:

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

  • Rating Agency Downgrade In the event that DBAG’s short-term unsecured and unsubordinated debt rating is reduced below “A-1” by S&P or, if DBAG has both a long-term credit rating and a short-term credit rating from Moody’s, and either its long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “A2” by Moody’s or its short-term credit rating is withdrawn or reduced below “P-1” by Moody’s (and together with S&P, the “Swap Rating Agencies”, and such rating thresholds, “Approved Rating Thresholds”), then within 30 days after such rating withdrawal or downgrade, DBAG shall, subject to the Rating Agency Condition and at its own expense, either (i) cause another entity to replace DBAG as party to this Agreement that meets or exceeds the Approved Rating Thresholds on terms substantially similar to this Agreement, (ii) obtain a guaranty of, or a contingent agreement of another person with the Approved Rating Thresholds, to honor, DBAG’s obligations under this Agreement, (iii) post collateral which will be sufficient to restore the immediately prior ratings of the Certificates and any Notes, or (iv) establish any other arrangement which will be sufficient to restore the immediately prior ratings of the Certificates and any Notes. In the event that DBAG’s long-term unsecured and unsubordinated debt rating is reduced below “BBB-” or its short-term unsecured and unsubordinated debt rating is reduced below “A-3” or is withdrawn by S&P or DBAG’s long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “A3” by Moody’s or its short-term credit rating is reduced below “P-2” by Moody’s, then within 10 days after such rating withdrawal or downgrade, DBAG shall, subject to the Rating Agency Condition and at its own expense, either (i) cause another entity to replace DBAG as party to this Agreement that meets or exceeds the Approved Rating Thresholds on terms substantially similar to this Agreement or (ii) obtain a guaranty of, or a contingent agreement of another person with the Approved Rating Thresholds to honor, DBAG’s obligations under this Agreement. In either case, DBAG shall deliver collateral acceptable to the Swap Rating Agencies until DBAG has made such transfer or obtained a guaranty as set forth in (i) and (ii) above. For purposes of this provision, “Rating Agency Condition” means, with respect to any particular proposed act or omission to act hereunder that the party acting or failing to act must consult with each of the Swap Rating Agencies then providing a rating of the Certificates and any Notes and receive from each of the Swap Rating Agencies a prior written confirmation that the proposed action or inaction would not cause a downgrade or withdrawal of the then-current rating of the Certificates or any Note.

  • Certificate Insurer Default Notwithstanding anything elsewhere in this Agreement or in the Certificates to the contrary, if a Certificate Insurer Default exists, or if and to the extent the Certificate Insurer has delivered its written renunciation of all of its rights under this Agreement, the provisions of this Article VII and all other provisions of this Agreement which (a) permit the Certificate Insurer to exercise rights of the Certificateholders, (b) restrict the ability of the Certificateholders, the Servicer or the Trustee to act without the consent or approval of the Certificate Insurer, (c) provide that a particular act or thing must be acceptable to the Certificate Insurer, (d) permit the Certificate Insurer to direct (or otherwise to require) the actions of the Trustee, the Servicer or the Certificateholders, (e) provide that any action or omission taken with the consent, approval or authorization of the Certificate Insurer shall be authorized hereunder or shall not subject the party taking or omitting to take such action to any liability hereunder or (f) which have a similar effect, shall be of no further force and effect and the Trustee shall administer the Trust Fund and perform its obligations hereunder solely for the benefit of the Holders of the Certificates. Nothing in the foregoing sentence, nor any action taken pursuant thereto or in compliance therewith, shall be deemed to have released the Certificate Insurer from any obligation or liability it may have to any party or to the Certificateholders hereunder, under any other agreement, instrument or document (including, without limitation, the Certificate Insurance Policy) or under applicable law.

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