Common use of Ratings Clause in Contracts

Ratings. At the Closing Time, the Securities shall have the ratings accorded by any “nationally recognized statistical rating organization” (as defined by the Commission in Section 3(a)(62) of the 1934 Act), and the Company shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings. Since the date hereof, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, the rating assigned to the Securities or any of the Company’s other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, it has under surveillance or review its rating of the Securities or any of the Company’s other securities.

Ratings. At the Closing Time, the Securities shall have the ratings accorded by any “nationally recognized statistical rating organization” (as defined by the Commission in Section 3(a)(62for purposes of Rule 436(g)(2) of the 1934 Act1933 Act Regulations), and the Company shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings. Since the date hereof, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, the rating assigned to the Securities or any of the Company’s other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, it has under surveillance or review its rating of the Securities or any of the Company’s other securities.

Ratings. At the Closing Time, the Securities shall have the ratings accorded by any “nationally recognized statistical rating organization,” (as defined by the Commission in Section 3(a)(62) of the 1934 Act), as specified in the Final Term Sheet, and the Company shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings. Since the date hereofExecution Time, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, the rating assigned to the Securities or any of the Company’s other securities by any such rating organization, and no such rating organization shall have publicly announced, announced or provided given notice that, it has under surveillance of any intended or review its potential decrease in or withdrawal of any such rating or of a possible change in any such rating that does not indicate the direction of the Securities or any of the Company’s other securitiespossible change.

Ratings. At the Closing TimeDate, the Securities shall have the ratings accorded by any “nationally recognized statistical rating organization” (”, as defined by the Commission in Section 3(a)(62for purposes of Rule 436(g)(2) of the 1934 1933 Act), if and as specified in Schedule I hereto, and the Company shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings. Since the date hereofExecution Time, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, in the rating assigned to the Securities or any of the Company’s other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, announced that it has under surveillance or review review, with possible negative implications, its rating of the Securities or any of the Company’s other securities.

Ratings. At the Closing TimeDate, the Capital Securities shall have the ratings accorded by any “nationally recognized statistical rating organization,” (as defined by the Commission in Section 3(a)(62for purposes of Rule 436(g)(2) of the 1934 Securities Act), if and as specified in Schedule I hereto, and the Company shall have delivered to the Representatives a letter, dated as of such date, letter from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Capital Securities have such ratings. Since the date hereofExecution Time, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, in the rating assigned to the Capital Securities or any of the Company’s other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, announced that it has under surveillance or review review, with possible negative implications, its rating of the Capital Securities or any of the Company’s other securities.

Ratings. At the Closing Time, the Securities shall have the ratings accorded by any “nationally recognized statistical rating organization” (as defined by the Commission in Section 3(a)(62) of the 1934 Act), and the Company shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings. Since the date hereof, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, the rating assigned to the Securities or any of the Company’s other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, it has under surveillance or review its rating of the Securities or any of the Company’s other securities.

Ratings. At the Closing TimeTime and at each Settlement Date, the Securities Notes shall have the ratings accorded by any “"nationally recognized statistical rating organization” (," as defined by the Commission in Section 3(a)(62for purposes of Rule 436(g)(2) of the 1934 Act)1933 Act Regulations, if and as specified in any applicable Terms Agreement or Pricing Supplement, and the Company shall have delivered to the Representatives Agents a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the RepresentativesAgents, confirming that the Securities Notes have such ratings. Since the date hereofrating, and there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, in the rating assigned to the Securities or any of the Company’s 's other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, announced that it has under surveillance or review its rating of the Securities Notes or any of the Company’s 's other securities.

Ratings. At the Closing Time, the Securities shall have the ratings accorded by any “nationally recognized statistical rating organization” (as defined by the Commission in Section 3(a)(62for purposes of Rule 436(g)(2) of the 1934 Act1933 Act Regulations), and the Company shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings. Since the date hereof, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, the rating assigned to the Securities or any of the Company’s other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice thatof, that it has under surveillance or review its rating of the Securities or any of the Company’s other securities.

Ratings. At the Closing Time, the Securities shall have the ratings accorded an investment grade rating by any “a "nationally recognized statistical rating organization” (", as defined by the Commission in Section 3(a)(62for purposes of Rule 436(g)(2) of the 1934 Act)1933 Act Regulations, and the Company shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratingsrating. Since the date hereoftime of execution of this Agreement, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, the rating assigned to the Securities or any of the Company’s 's other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, announced that it has under surveillance or review its rating of the Securities or any of the Company’s 's other securities.

Ratings. At the Closing TimeDate, the Securities shall have the ------- ratings accorded by any “"nationally recognized statistical rating organization” (", as defined by the Commission for purposes of Rule 436(g)(2), if and as specified in Section 3(a)(62) of the 1934 Act)Schedule I hereto, and the Company shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings. Since the date hereofExecution Time, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, in the rating assigned to the Securities or any of the Company’s 's other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, announced that it has under surveillance or review review, with possible negative implications, its rating of the Securities or any of the Company’s 's other securities.

Ratings. At the Closing Time, the Securities shall have the ratings accorded by any “nationally recognized statistical rating organization” (as defined by the Commission in for purposes of Section 3(a)(62) of the 1934 Act), and the Company shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings. Since the date hereof, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, the rating assigned to the Securities or any of the Company’s other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, it has under surveillance or review its rating of the Securities or any of the Company’s other securities.

Ratings. At the Closing Time, the Securities shall have the ratings accorded by any “nationally recognized statistical rating organization” (as defined by the Commission in Section 3(a)(62for purposes of Rule 436(g)(2) of the 1934 Act1933 Act Regulations), and the Company shall have delivered to the Representatives Representative a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the RepresentativesRepresentative, confirming that the Securities have such ratings. Since the date hereof, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, the rating assigned to the Securities or any of the Company’s other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, announced that it has under surveillance or review its rating of the Securities or any of the Company’s other securities.

Ratings. At the Closing TimeDate, the Securities shall have the ratings accorded by any “nationally recognized statistical rating organization” (”, as defined by the Commission in Section 3(a)(62for purposes of Rule 436(g)(2) of the 1934 1933 Act), if and as specified in Schedule I and Schedule II hereto, and the Company shall have delivered to the Representatives a letter, dated as of such date, from each such rating organization, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings. Since the date hereofExecution Time, there shall not have occurred at the Closing Time, a downgrading in, or withdrawal of, in the rating assigned to the Securities or any of the Company’s other securities by any such rating organization, and no such rating organization shall have publicly announced, or provided notice that, announced that it has under surveillance or review review, with possible negative implications, its rating of the Securities or any of the Company’s other securities.