Common use of No Downgrading Clause in Contracts

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's other securities by any "nationally recognized statistical rating organization", as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's securities.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's other securities by any "nationally recognized statistical rating organization", ," as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's securities.

No Downgrading. Subsequent to the date execution and delivery of this Agreement, Agreement (i) no downgrading shall have occurred in the rating accorded the Securities Company’s debt securities or of any of the Company's other securities preferred stock by any "“nationally recognized statistical rating organization", ” (as that term is defined by the Commission for purposes of Rule 436(g)(2) under of the 1933 ActRules and Regulations), and (ii) no such organization shall have publicly announced that it has under surveillance or review review, with possible negative implications, its ratings rating of any of the Company's securities’s debt securities or preferred stock.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's ’s other securities by any "“nationally recognized statistical rating organization", ,” as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's ’s securities.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's ’s other securities by any "“nationally recognized statistical rating organization"”, as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review review, with possible negative implications, its ratings of any of the Company's ’s debt securities.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's other securities ’s debt by any "“nationally recognized statistical rating organization", ,” as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review review, with possible negative implications, its ratings of any of the Company's securitiesdebt.

No Downgrading. Subsequent On or subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's other securities by any "nationally recognized statistical rating organization", as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's ’s securities.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's ’s other debt securities by any "“nationally recognized statistical rating organization"”, as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's ’s debt securities.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's ’s other securities by any "“nationally recognized statistical rating organization"”, as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's ’s securities.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's ’s other securities by any "“nationally recognized statistical rating organization", ” (as that such term is defined by pursuant to Section 3(a)(62) of the Commission for purposes of Rule 436(g)(21900 Xxx) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's ’s securities.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Trust's, the Operating Partnership's or Company's other securities by any "nationally recognized statistical rating organization", as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Trust's, the Operating Partnership's or Company's securities.

No Downgrading. Subsequent to the date execution and delivery of this Agreement, (i) no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's other securities by any "nationally recognized statistical rating organization", as that such term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Securities Act, ; and (ii) no such organization shall have publicly announced that it has under surveillance or review (other than an announcement with positive implications of a possible upgrading) its ratings of any rating of the Company's securitiesSecurities.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's ’s other securities debt by any "“nationally recognized statistical rating organization", ,” as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review review, with possible negative implications, its ratings of any of the Securities or any of the Company's securities’s other debt.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's other securities by any "nationally recognized statistical rating organization", ," as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such securities rating organization shall have publicly announced that it has under surveillance or review review, with possible negative implications, its ratings of any of the Company's securities.

No Downgrading. Subsequent to Since the date of this Agreement, no downgrading there shall not have occurred a downgrading in the rating accorded the Securities or of assigned to any of the Company's other Issuers' securities by any "nationally recognized statistical rating organization", as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review review, with possible negative implications, its ratings rating of the Securities or any of the Company's Issuers' other securities.

No Downgrading. Subsequent to the date of this Agreement, no -------------- downgrading shall have occurred in the rating accorded the Securities or of any of the Company's or the Bank's other securities by any "nationally recognized statistical rating organization", as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's or the Bank's securities.

No Downgrading. Subsequent to the date of this Agreement, no -------------- downgrading shall have occurred in the rating accorded the Securities or of any of the Company's other securities by any "nationally recognized statistical of the rating organization", as that term is defined by the Commission for purposes of Rule 436(g)(2agencies listed in paragraph 5(g) under the 1933 Acthereof, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's securities.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's ’s other securities debt by any "“nationally recognized statistical rating organization", ,” as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review review, with possible negative implications, its ratings of any of the Securities or any of the Company's securities’s other debt.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's ’s other securities by any "nationally recognized statistical rating organization", as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's ’s securities.

No Downgrading. Subsequent to Since the date of this Agreement, no downgrading there shall not have occurred a downgrading in the rating accorded the Securities or of any of the Company's other securities by any "nationally recognized statistical rating organization", ," as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such securities rating organization shall have publicly announced that it has under surveillance or review review, with possible negative implications, its ratings of any of the Company's securities.

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's ’s other securities by any "“nationally recognized statistical rating organization"”, as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of below the Company's securitieslevels described in Section 5(h).

No Downgrading. Subsequent to the date of this Agreement, no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's ’s other securities by any "“nationally recognized statistical rating organization", ” (as that such term is defined by pursuant to Section 3(a)(62) of the Commission for purposes of Rule 436(g)(20000 Xxx) under the 1933 Act, and no such organization shall have publicly announced that it has under surveillance or review its ratings of any of the Company's ’s securities.

No Downgrading. Subsequent to On or after the date of this Agreement, Applicable Time (i) no downgrading shall have occurred in the rating accorded the Securities or of any of the Company's other ’s debt securities by any "“nationally recognized statistical rating organization"”, as that term is defined by the Commission for purposes of Rule 436(g)(2) under the 1933 Act, and (ii) no such organization shall have publicly announced that it has under surveillance or review review, with possible negative implications, its ratings rating of any of the Company's ’s debt securities.;