Credit Rating Sample Clauses
A Credit Rating clause sets requirements or conditions based on the creditworthiness of a party, as determined by recognized credit rating agencies. Typically, it specifies minimum credit ratings that a party must maintain, and may outline actions to be taken if those ratings fall below a certain threshold, such as providing additional security or triggering default provisions. This clause helps manage financial risk by ensuring that parties to an agreement maintain a certain level of financial stability, thereby protecting the other party from potential losses due to credit deterioration.
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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. 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 at all times use its commercially reasonable efforts to obtain and to cause a credit rating by S&P and by ▇▇▇▇▇’▇ to be maintained with respect to the Loans and the Borrower hereunder.
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 M▇▇▇▇’▇ and vice versa. A credit rating of BBB from S&P or Fitch is equivalent to a credit rating of Baa2 from M▇▇▇▇’▇ and vice versa. A credit rating of BBB+ from S&P or Fitch is equivalent to a credit rating of Baa1 by M▇▇▇▇’▇ 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...
Credit Rating. The credit facilities provided for under this Agreement shall have been assigned a credit rating by S&P and ▇▇▇▇▇’▇.
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. 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. 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 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 ▇▇▇▇▇’▇ and (c) a rating for each of the Facilities from each of S&P and ▇▇▇▇▇’▇.
Credit Rating. The Borrower shall have been assigned a corporate family rating from ▇▇▇▇▇’▇, a corporate credit rating from S&P, and the Term Loans shall have been assigned a credit rating from each of ▇▇▇▇▇’▇ and S&P.