Common use of Required Deposit Rating Clause in Contracts

Required Deposit Rating. A rating on short-term unsecured debt obligations of A-1+ by Standard & Poor’s Ratings Services and P-1 by Xxxxx’x Investors Service, 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)

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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 and P-1 Services, if rated by Xxxxx’x Investors Service, Inc. 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)

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Required Deposit Rating. A rating on short-term unsecured debt obligations of P-1 by Xxxxx’x and A-1+ by Standard & Poor’s Ratings Services and P-1 by Xxxxx’x Investors Service, Inc. 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)

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