S&P and Moody Sample Clauses
The "S&P and Moody" clause defines the use of credit ratings from Standard & Poor's (S&P) and Moody's Investors Service as benchmarks for assessing the creditworthiness of parties, securities, or obligations within an agreement. In practice, this clause specifies that certain actions, such as triggering covenants or determining interest rates, depend on the ratings assigned by these agencies. For example, a downgrade by either S&P or Moody's may result in higher interest payments or the need for additional collateral. The core function of this clause is to provide an objective, industry-recognized standard for evaluating credit risk, thereby ensuring transparency and reducing ambiguity in financial contracts.
S&P and Moody s; except that, ▇▇▇ the purposes of the Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates, S&P shall be the sole Rating Agency. Regular Certificates.................. All Classes of Certificates, other than the Residual Certificates. Residual Certificates................. The Class II-A-R Certificates.
S&P and Moody s; except that, for purposes of the Class B-1, B-2, Class B-3, Cl▇▇▇ B-4 and Class B-5 Certificates, S&P shall be the sole Rating Agency. Regular Certificates...................... All Classes of Certificates, other than the Residual Certificates. Retail/Lottery Certificates............... None. Scheduled Certificates.................... None. Senior Certificates....................... The Group I Senior Certificates and Group II Senior Certificates, collectively. Senior Support Certificates............... None. Subordinated Certificates................. The Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates. Super Senior Certificates................. None. Support Classes........................... None. Targeted Principal Classes................ None.
S&P and Moody s; except that, fo▇ ▇▇▇▇▇ses of the Class B-1, Class B-4, Class B-5 and Class B-6 Certificates, S&P shall be the sole Rating Agency. Regular Certificates...