Common use of Minimum Rating Clause in Contracts

Minimum Rating. The Program Bonds have a long-term rating of “AAA”/“Aaa”. The Complete Indenture provides that to the extent that such rating for the Program Bonds is not maintained while the proceeds thereof are Escrowed Proceeds, all proceeds that are still held in Escrow must be used immediately to redeem a corresponding amount of Program Bonds.

Minimum Rating. The Program Bonds have a long-term rating of “AAA”/“Aaa”not less than ‘A3’/‘A-’. The Complete Indenture provides that to the extent that such the minimum rating threshold for the Program Bonds is not maintained while the proceeds thereof are Escrowed Proceeds, all proceeds that are still held in Escrow must be used immediately to redeem a corresponding amount of Program Bonds.

Minimum Rating. The Program Bonds have a long-term rating of “AAA”/“Aaa”not less than ‘Baa3’/‘BBB-’. The Complete Indenture provides that to the extent that such the minimum rating threshold for the Program Bonds is not maintained while the proceeds thereof are Escrowed Proceeds, all proceeds that are still held in Escrow must be used immediately to redeem a corresponding amount of Program Bonds.

Minimum Rating. The Program Bonds have a long-term rating of “AAA”/“Aaa”not less than ’Baa3’/’BBB-’. The Complete Indenture provides that to the extent that such the minimum rating threshold for the Program Bonds is not maintained while the proceeds thereof are Escrowed Proceeds, all proceeds that are still held in Escrow must be used immediately to redeem a corresponding amount of Program Bonds.

Minimum Rating. The Program Bonds have a long-term rating of “AAA”/“Aaa”not less than ‘Baa3’/’BBB-’. The Complete Indenture provides that to the extent that such the minimum rating threshold for the Program Bonds is not maintained while the proceeds thereof are Escrowed Proceeds, all proceeds that are still held in Escrow must be used immediately to redeem a corresponding amount of Program Bonds.

Minimum Rating. The Program Bonds have a long-term rating of “AAA”/“Aaa”not less than ‘A3’/’A-’. The Complete Indenture provides that to the extent that such the minimum rating threshold for the Program Bonds is not maintained while the proceeds thereof are Escrowed Proceeds, all proceeds that are still held in Escrow must be used immediately to redeem a corresponding amount of Program Bonds.