Independent Credit Threshold. Each SSO Supplier that qualifies under the following criteria will be granted an Independent Credit Threshold (“ICT”).
Independent Credit Threshold. The XXXX Supplier that qualifies under the following criteria will be granted an Independent Credit Threshold.
Independent Credit Threshold. BGS-RSCP Suppliers that qualify under the following criteria will be granted an Independent Credit Threshold (“ICT”). The ICT will be used by the BGS-RSCP Supplier solely to partially or fully cover the aggregate ICR amounts under this Agreement and any other BGS Supply agreement(s) between it and the Company. In all instances, the most current senior unsecured debt rating (or, if unavailable, the most current corporate issuer rating discounted one notch) will be used.
Independent Credit Threshold. The XXXX Supplier that qualifies under the following criteria will be granted an Independent Credit Threshold (“ICT”).
Independent Credit Threshold. The XXXX Supplier that qualifies under the following criteria will be granted an Independent Credit Threshold. For the XXXX Supplier or its Guarantor that has been organized under the laws of the United States, the following requirements must be satisfied in order for such XXXX Supplier to be granted an ICT: the XXXX Supplier must (1) be rated by at least one of the following rating agencies: Standard & Poor’s Rating Services (“S&P”), Xxxxx’x Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”), and (2) have a minimum senior unsecured debt rating (or, if unavailable, corporate issuer rating) of at least “BB‑“from S&P, “Ba3” from Moody’s or “BB-” from Fitch (a “Minimum Rating”). If the XXXX Supplier is rated by only two rating agencies, and the ratings are split, the higher rating will be used. If the XXXX Supplier is rated by three rating agencies, and the ratings are split, the lower of the two highest ratings will be used; provided that, in the event that the two highest ratings are common, such common rating will be used. The maximum level of the ICT will be determined based on the following table: Credit Rating of the XXXX Supplier Maximum Independent Credit Threshold S&P Moody’s Fitch Percentage of TNW BBB+ and above Baa1 and above BBB+ and above 16% BBB Baa2 BBB 10% BBB- Baa3 BBB- 8% BB+ Ba1 BB+ 2% BB Ba2 BB 1% BB- Ba3 BB- 0.5% Below BB- Below Ba3 Below BB- 0% for a XXXX Supplier having a Guarantor, the Guarantor must (1) be rated by at least one of the following rating agencies: S&P, Moody’s, or Fitch, and (2) have a minimum senior unsecured debt rating (or, if unavailable, corporate issuer rating) equal to the Minimum Rating. If the Guarantor is rated by only two rating agencies, and the ratings are split, the higher rating will be used. If the Guarantor is rated by three rating agencies, and the ratings are split, the lower of the two highest ratings will be used; provided that, in the event that the two highest ratings are common, such common rating will be used. The maximum level of the ICT that can be granted based on an ICT Guaranty will be determined based on the following table: Credit Rating of the Guarantor Maximum Independent Credit Threshold S&P Moody’s Fitch Percentage of TNW BBB+ and above Baa1 and above BBB+ and above 16% BBB Baa2 BBB 10% BBB- Baa3 BBB- 8% BB+ Ba1 BB+ 2% BB Ba2 BB 1% BB- Ba3 BB- 0.5% Below BB- Below Ba3 Below BB- 0% The XXXX Supplier will be granted an ICT up to the amount of the ICT Guaranty but not exceeding...
Independent Credit Threshold. SSO Suppliers that qualify under the following criteria will be granted an Independent Credit Threshold (“ICT”). The ICT will be used by the SSO Suppliers solely to partially or fully cover the aggregate ICR amounts under this Agreement and any other SSO agreement(s) between it and the Companies. In all instances, the most current senior unsecured debt rating (or, if unavailable, the most current corporate issuer debt rating) will be used.
