Required Deposit Rating. A rating on short-term unsecured debt obligations of P-1 by Xxxxx’x Investors Service, Inc. and A-1+ by Standard & Poor’s Ratings Services, if rated by Standard & Poor’s Ratings Services. Any requirement that short-term unsecured debt obligations have the “Required Deposit Rating” shall mean that such short-term unsecured debt obligations have the foregoing required ratings from each of such rating agencies.
Appears in 2 contracts
Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2013-4), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2013-4)
Required Deposit Rating. A rating on short-term unsecured debt obligations of P-1 by Xxxxx’x Investors Service, Inc. and A-1+ by Standard & Poor’s Ratings ServicesServices and P-1 by Xxxxx’x Investors Service, if rated by Standard & Poor’s Ratings Services. Inc. Any requirement that short-term unsecured debt obligations have the “Required Deposit Rating” shall mean that such short-term unsecured debt obligations have the foregoing required ratings from each of such rating agencies.
Appears in 2 contracts
Samples: Servicing Agreement (Ally Auto Receivables Trust 2012-4), Servicing Agreement (Ally Auto Receivables Trust 2012-4)
Required Deposit Rating. A rating on short-term unsecured debt obligations of P-1 by Xxxxx’x Investors Service, Inc. and A-1+ by Standard & Poor’s Ratings Services, if rated by Standard & Poor’s Ratings Services. S&P. Any requirement that short-term unsecured debt obligations have the “Required Deposit Rating” shall mean means that such short-term unsecured debt obligations have the foregoing required ratings from each of such rating agencies.
Appears in 1 contract
Samples: Pooling Agreement (Navistar Financial 2005-a Owner Trust)