Common use of Ratings of Commercial Paper Clause in Contracts

Ratings of Commercial Paper. Each Funding Agent shall have received, to the extent required, evidence satisfactory to it that the purchase by the CP Conduit Purchaser in its CP Conduit Purchaser Group of Class A Investor Notes hereunder will not result in a reduction or withdrawal of the rating of such CP Conduit Purchaser’s Commercial Paper by any Rating Agency;

Appears in 2 contracts

Samples: Master Agreement (PHH Corp), Purchase and Sale (PHH Corp)

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Ratings of Commercial Paper. Each Funding Agent shall have received, to the extent required, evidence satisfactory to it that the purchase by the CP Conduit Purchaser in its CP Conduit Purchaser Group of Class A Investor Notes hereunder this Indenture Supplement will not result in a reduction or withdrawal of the rating of such the Commercial Paper issued by the CP Conduit Purchaser’s Commercial Paper Purchaser in its CP Conduit Purchaser Group by any Rating Agency;.

Appears in 1 contract

Samples: Master Agreement (PHH Corp)

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Ratings of Commercial Paper. Each Funding Agent shall have received, to the extent required, evidence satisfactory to it that the purchase by the CP Conduit Purchaser in its CP Conduit Purchaser Group of Class A Investor Notes hereunder will not result in a reduction or withdrawal of the rating of such CP Conduit Purchaser’s Commercial Paper by any Rating Agency;.

Appears in 1 contract

Samples: Master Agreement (PHH Corp)

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