Senior Debt Rating. The rating issued by S&P or Moody’s with respect to unsecured Indebtedness of the Borrower not maturing within twelve months, issued without third-party credit enhancement, and not subordinated by its term in right of payment to other Indebtedness of the Borrower. In the event that no such ratings are available on such unsecured Indebtedness of the Borrower, the Senior Debt Rating shall be the rating implied, in the reasonable discretion of the Administrative Agent, to such unsecured Indebtedness by reference to such other Indebtedness of the Borrower as shall be so rated.
Senior Debt Rating. The Applicable Floating Rate Margin and the Applicable Commitment Rate shall be adjusted, as applicable from time to time, effective on the first Business Day after any change in the Senior Debt Rating to the extent that such change in the Senior Debt Rating requires a corresponding change in the Applicable Floating Rate Margin. The Applicable Eurodollar Margin in respect of any Eurodollar Advance shall be adjusted, as applicable from time to time, effective on the first day of the Interest Period for any Eurodollar Advance after any change in the Senior Debt Rating to the extent that such change in the Senior Debt Rating requires a corresponding change in the Applicable Eurodollar Margin.
Senior Debt Rating. The Borrower fails to obtain a senior unsecured non-credit enhanced long-term debt rating from either S&P or Moodx'x xx September 30, 2001.
Senior Debt Rating. Borrower shall have obtained a rating on its senior debt of not less than B3 from Mxxxx'x and B from Standard & Poor's.
Senior Debt Rating. The Borrower shall have obtained, within 30 days of the Funding Date, a senior debt rating of at least "B" from S&P and "B2" from Xxxxx'x.
Senior Debt Rating. The Agent and Term B Lead Arrangers shall have received confirmation that the debt rating given to the Loans and then in effect from Xxxxx'x shall be Ba3 or better and the debt rating from S&P shall be BB- or better.
Senior Debt Rating. 46 Section 11.12. Hedging Agreements.....................................................................................46
Senior Debt Rating. The Applicable LIBOR Rate Margin and the Applicable Unused Commitment Rate shall be determined by reference to the Senior Debt Rating, in accordance with the following table: ------------------------------- ---------------------- ---------------------- ------------------------ SENIOR DEBT RATING SENIOR DEBT RATING APPLICABLE LIBOR APPLICABLE UNUSED (STANDARD & POOR'S OR MOODY'S) (DUFF & PHELPS OR RATE MARGIN (%) COMMITMENT RAXX (%) FITCH) ------------------------------- ---------------------- ---------------------- ------------------------ BB/Ba2 or higher BB/BB 1.50 0.25 ------------------------------- ---------------------- ---------------------- ------------------------ BB-/Ba3 BB-/BB- 1.75 0.30 ------------------------------- ---------------------- ---------------------- ------------------------ B+/B1 B+/B+ 2.00 0.35 ------------------------------- ---------------------- ---------------------- ------------------------ B/B2 B/B 2.25 0.375 ------------------------------- ---------------------- ---------------------- ------------------------
Senior Debt Rating. Borrower shall fail to maintain for more that ninety (90) days a Senior Debt Rating (i) with at least two (2) of the following rating agencies: Moody's Investors Service, Inc., Standard & Poor's Corporation, Fitch'x Xxxxstment Service and Duff & Phelps Credit Rating Co., one (1) of which must be Moody's Investors Xxxxxxe, Inc. or Standard & Poor's Corporation, or (xx) xxere Standard & Poor's Corporation issues a rating of at least a B or Moody's Investors Services, Inc. issues a rating of at least a B2.
Senior Debt Rating. The Applicable Margins shall be determined by reference to the Senior Debt Rating, in accordance with the following table: Applicable Applicable Senior Debt LIBOR Rate Floating Rate Rating Margin (%) Margin (%) ----------- ---------- ------------- BBB-/Baa3 or .75 0 higher BB+/Ba1 .95 0 BB/Ba2 1.15 0 BB-/Ba3 1.35 0.10 B+/B1 or lower 1.55 0.20 or no rating
