Credit Rating. With respect to the Competitive Supplier or Competitive Supplier’s Guarantor, its senior unsecured, unsubordinated long-term debt rating, not supported by third party credit enhancement, and if such debt is no longer rated, then the corporate or long-term issuer rating of Competitive Supplier or Competitive Supplier’s Guarantor.
Credit Rating. With respect to the Competitive Supplier or Competitive Supplier’s Guarantor, its senior unsecured, unsubordinated long-term debt rating, not supported by third party credit enhancement, and if such debt is no longer rated, then the corporate or long-term issuer rating of Competitive Supplier or Competitive Supplier’s Guarantor or the senior secured rating of Competitive Supplier or Competitive Supplier’s Guarantor; provided, however, that the standing guaranty of Vistra Operations Company LLC, in favor of Competitive Supplier’s Guarantor, shall not be considered to constitute “third party credit enhancement” for purposes of this definition.
Credit Rating. As of any date of determination, the higher of the credit ratings (or their equivalents) then assigned to Trust’s long-term senior unsecured non-credit enhanced debt by any of the Rating Agencies. A credit rating of BBB- from S&P or Fitch is equivalent to a credit rating of Baa3 from Xxxxx’x and vice versa. A credit rating of BBB from S&P or Fitch is equivalent to a credit rating of Baa2 from Xxxxx’x and vice versa. It is the intention of the parties that if Trust shall only obtain a credit rating from two of the Rating Agencies without seeking a credit rating from the third Rating Agency, the Borrower shall be entitled to the benefit of the Credit Rating Level for such credit rating. If Trust shall have obtained a credit rating from at least two of the Rating Agencies, the highest of the obtained ratings shall control, provided that the next highest rating is only one level below that of the highest rating. If the next highest rating is more than one level below that of the highest credit rating, the operative rating would be deemed to be one rating level higher than the lower of the two ratings. In the event that Trust shall have obtained a credit rating from at least two of the Rating Agencies and shall thereafter lose any of such ratings (whether as a result of a withdrawal, suspension, election to not obtain a rating, or otherwise) from the Rating Agencies such that Trust does not have a credit rating from at least two Rating Agencies, the Trust shall be deemed for the purposes hereof not to have a credit rating. If at any time any of the Rating Agencies shall no longer perform the functions of a securities rating agency, then the Borrower and the Agent shall promptly negotiate in good faith to agree upon a substitute rating agency or agencies (and to correlate the system of ratings of each substitute rating agency with that of the rating agency being replaced), and pending such amendment, the Credit Rating of the other of the Rating Agencies, if one has been provided, shall continue to apply. Credit Rating Level. One of the following five pricing levels, as applicable, and provided, further, that, from and after the time that Agent receives written notice that Trust has first obtained an Investment Grade Rating from at least two Rating Agencies, during any period that the Trust has no Credit Rating Level, Credit Rating Level 5 shall be the applicable Credit Rating Level:
Credit Rating. The Borrowers at all times shall use commercially reasonable efforts to cause to be maintained (a) a corporate rating for Holding from S&P, (b) a corporate family rating for Holdings from Xxxxx’x and (c) a rating for each of the Facilities from each of S&P and Xxxxx’x.
Credit Rating. The credit facilities provided for under this Agreement shall have been assigned a credit rating by S&P and Xxxxx’x.
Credit Rating. The Borrower shall have been assigned a corporate family rating from Xxxxx’x, a corporate credit rating from S&P, and the Term Loans shall have been assigned a credit rating from each of Xxxxx’x and S&P.
Credit Rating. If during the term of the Agreement, Seller’s or Seller’s Guarantor’s Credit Rating changes, by either being upgraded or downgraded by any of the rating agencies referenced in Section 14.3 (Unsecured Credit) of the Agreement, the Seller shall be required to provide written notice to Buyer of such Credit Rating change no later than two (2) Business Days after the date of such change. However, if Seller’s, or Seller’s Guarantor’s, equity is publicly traded on the New York Stock Exchange, NASDAQ National Market, or American Stock Exchange, the Buyer will waive the requirement to provide written notice.
Credit Rating. The Borrower shall maintain a minimum unsecured credit rating with respect to the Senior Notes of “A” by Fitch, Inc. (or an equivalent nationally recognized statistical rating organization).
Credit Rating. The Borrower will deliver to the Administrative Agent notice of any change by a Rating Agency in the Designated Rating assigned by such Rating Agency promptly upon the effectiveness of such change.
Credit Rating. As of any date of determination, except as hereinafter provided in this definition, the highest of the credit ratings (or their equivalents) then assigned to REIT’s long-term senior unsecured non-credit enhanced debt by any of the Rating Agencies. A credit rating of BBB- from S&P or Fitch is equivalent to a credit rating of Baa3 from Mxxxx’x and vice versa. A credit rating of BBB from S&P or Fitch is equivalent to a credit rating of Baa2 from Mxxxx’x and vice versa. A credit rating of BBB+ from S&P or Fitch is equivalent to a credit rating of Baa1 by Mxxxx’x and vice versa. It is the intention of the parties that REIT shall obtain a credit rating from at least two (2) Rating Agencies in order for Borrower to be entitled to the benefit of the Credit Rating Level for such credit rating. If the credit ratings obtained by REIT are not equivalent, pricing shall be determined by the highest of the credit ratings, provided that the next highest credit rating is only one level below that of the highest credit rating. If the second highest credit rating obtained by REIT is more than one level below that of the highest credit rating obtained by REIT, the operative rating shall be the credit rating that is one level higher than the second highest of the credit ratings. In the event that REIT shall have obtained a credit rating from at least two (2) Rating Agencies and shall thereafter lose one or more credit ratings (whether as a result of a withdrawal, suspension, election to not obtain a rating, or otherwise) such that REIT no longer has a credit rating from at least two (2) Rating Agencies, REIT shall be deemed for the purposes hereof not to have a Credit Rating. Notwithstanding anything to the contrary contained herein, if at any time two or three of the Rating Agencies shall cease performing the functions of a securities rating agency such that REIT shall be unable to maintain a credit rating from at least two of the three Rating Agencies, then Borrower and the Agent shall promptly negotiate in good faith to agree upon one or more substitute rating agencies (and to correlate the system of ratings of each such substitute rating agency with that of the rating agency being replaced), and pending such amendment, the Credit Rating in effect immediately prior to such time shall continue to apply, provided that the designation of such replacement agency and such amendment are completed within thirty (30) days of such event, and if not so completed within such thirty (3...
