Sponsor Rating Downgrade Sample Clauses

Sponsor Rating Downgrade. If the long term senior unsecured corporate debt rating of Countrywide Home Loans, Inc. falls below "BBB" by Standard & Poor's or "Baa2" by Moody's, as promptly as practicabxx xxx in any case within 90 days of the event, the Master Servicer shall, at its expense, either
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Sponsor Rating Downgrade. If (i) the long term senior unsecured corporate debt rating of Countrywide Home Loans, Inc. is withdrawn, suspended, or reduced below "BBB" by Standard & Poor's or "Baa2" by Moody's, (ii) an Event of Servicixx Xxxxination has occurred and not been waived, or (iii) the Credit Enhancer has delivered to the Master Servicer a written request that the Master Servicer, at its expense, record the Assignment of Mortgages because the Credit Enhancer has determined, in its reasonable judgment, that recordation is necessary to protect the Credit Enhancer's interest with respect to those Mortgage Loans because (a) the Credit Enhancer has been advised by counsel as a result of a change that occurred after the Closing Date in applicable law or the interpretation thereof or (b) with respect to a particular Mortgage Loan, of the insolvency of the related mortgagor, as promptly as practicable but in any case within 90 days of the event, the Master Servicer shall, at its expense, either
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Sponsor Rating Downgrade. Should the long term senior unsecured corporate debt rating of IndyMac Bank fall below "[___]" by [_________________]] or "[____]" by [_______], as promptly as practicable but in no event more than [90] days following the occurrence of such event, the Master Servicer shall, at its expense, (i) either (x) request that the Trustee deliver to it the original Assignment of Mortgage previously delivered to the Trustee pursuant to Section 2.01(e) and thereupon record such Assignment of Mortgage in favor of the Trustee (which may be a blanket assignment if permitted by applicable law) in the appropriate real property or other records, (y) deliver to the Trustee an Opinion of Counsel addressed to the Trustee, [and the Credit Enhancer] to the effect that recording is not required to protect the Trustee's right, title and interest in and to the related Mortgage Loan or, in case a court should recharacterize the sale of the Mortgage Loans as a financing, to perfect a first priority security interest in favor of the Trustee in the related Mortgage Loan, which Opinion of Counsel also shall be reasonably acceptable to each of the Rating Agencies (as evidenced in writing), [the Credit Enhancer,] [or (z) cause the MERS(R) System to indicate (and provide evidence to the Trustee that it has done so) that the Mortgage Loans have been assigned by the Depositor to the Trustee in accordance with this Agreement for the benefit of the Certificateholders, [and the Credit Enhancer,] by including (or deleting, in the case of Mortgage Loans that are repurchased in accordance with this Agreement) in the MERS computer files (a) the code "[IDENTIFY TRUSTEE SPECIFIC CODE]" in the field "[IDENTIFY THE FIELD NAME FOR TRUSTEE]" which identifies the Trustee and (b) the code "[IDENTIFY SERIES SPECIFIC CODE NUMBER]" in the field "Pool Field" which identifies the series of the Certificates issued in connection with the Mortgage Loans.]
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Sponsor Rating Downgrade. Should the long term senior unsecured corporate debt rating of IndyMac Bank fall below "[___]" by [____] or "[____]" by [_______], as promptly as practicable but in any case within [90] days of the event, the Master Servicer shall, at its expense,
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Related to Sponsor Rating Downgrade

  • Rating Agency Downgrade In the event that DBAG’s short-term unsecured and unsubordinated debt rating is reduced below “A-1” by S&P or, if DBAG has both a long-term credit rating and a short-term credit rating from Moody’s, and either its long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “A2” by Moody’s or its short-term credit rating is withdrawn or reduced below “P-1” by Moody’s (and together with S&P, the “Swap Rating Agencies”, and such rating thresholds, “Approved Rating Thresholds”), then within 30 days after such rating withdrawal or downgrade, DBAG shall, subject to the Rating Agency Condition and at its own expense, either (i) cause another entity to replace DBAG as party to this Agreement that meets or exceeds the Approved Rating Thresholds on terms substantially similar to this Agreement, (ii) obtain a guaranty of, or a contingent agreement of another person with the Approved Rating Thresholds, to honor, DBAG’s obligations under this Agreement, (iii) post collateral which will be sufficient to restore the immediately prior ratings of the Certificates and any Notes, or (iv) establish any other arrangement which will be sufficient to restore the immediately prior ratings of the Certificates and any Notes. In the event that DBAG’s long-term unsecured and unsubordinated debt rating is reduced below “BBB-” or its short-term unsecured and unsubordinated debt rating is reduced below “A-3” or is withdrawn by S&P or DBAG’s long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “A3” by Moody’s or its short-term credit rating is reduced below “P-2” by Moody’s, then within 10 days after such rating withdrawal or downgrade, DBAG shall, subject to the Rating Agency Condition and at its own expense, either (i) cause another entity to replace DBAG as party to this Agreement that meets or exceeds the Approved Rating Thresholds on terms substantially similar to this Agreement or (ii) obtain a guaranty of, or a contingent agreement of another person with the Approved Rating Thresholds to honor, DBAG’s obligations under this Agreement. In either case, DBAG shall deliver collateral acceptable to the Swap Rating Agencies until DBAG has made such transfer or obtained a guaranty as set forth in (i) and (ii) above. For purposes of this provision, “Rating Agency Condition” means, with respect to any particular proposed act or omission to act hereunder that the party acting or failing to act must consult with each of the Swap Rating Agencies then providing a rating of the Certificates and any Notes and receive from each of the Swap Rating Agencies a prior written confirmation that the proposed action or inaction would not cause a downgrade or withdrawal of the then-current rating of the Certificates or any Note.

  • Ratings Downgrade For purposes of each Transaction:

  • Ratings No “nationally recognized statistical rating organization” as such term is defined for purposes of Rule 436(g)(2) (i) has imposed (or has informed the Company that it is considering imposing) any condition (financial or otherwise) on the Company’s retaining any rating assigned to the Company or any securities of the Company or (ii) has indicated to the Company that it is considering any of the actions described in Section 7(c)(ii) hereof.

  • Required Ratings The Offered Certificates shall have received Required Ratings of at least [ ] from [ ].

  • Moody’s 37 Mortgage.....................................................................37

  • No Downgrade Subsequent to the earlier of (A) the Applicable Time and (B) the execution and delivery of this Agreement, if there are any debt securities or preferred stock of, or guaranteed by, the Company or any of its subsidiaries that are rated by a “nationally recognized statistical rating organization,” as such term is defined in Section 3(a)(62) of the Exchange Act, (i) no downgrading shall have occurred in the rating accorded any such debt securities or preferred stock and (ii) no such organization shall have publicly announced that it has under surveillance or review, or has changed its outlook with respect to, its rating of any such debt securities or preferred stock (other than an announcement with positive implications of a possible upgrading).

  • Debt Ratings Prompt notice of any change in its Debt Ratings.

  • Rating The Notes can be issued without the requirement that they have any rating from a nationally recognized statistical rating organization.

  • Debt Rating The Liquidity Provider has a short-term debt ratings of “P-1” from Xxxxx’x and “F1+” from Fitch.

  • Credit Rating The credit facilities provided for under this Agreement shall have been assigned a credit rating by S&P and Xxxxx’x.

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