Underlying Rating. (a) Maintain unenhanced ratings on its long-term Parity Bonds from at least two Rating Agencies. The City covenants and agrees that it shall not at any time withdraw any long-term rating on any of its Parity Obligations from any Rating Agency if the effect of such withdrawal would be to cure a Potential Default or an Event of Default under this Agreement or to reduce the Facility Fee.
Underlying Rating. The County shall at all times maintain a rating on its long-term unenhanced Parity Debt from at least two Rating Agencies. The County covenants and agrees that it shall not at any time withdraw any long-term unenhanced rating on its Parity Debt from any of Fitch, Xxxxx’x or S&P if the effect of such withdrawal would be to cure a Default or an Event of Default under this Agreement.
Underlying Rating. The City shall at all times maintain a rating on its long-term unenhanced Parity Debt from at least two Rating Agencies. The City covenants and agrees that it shall not at any time withdraw any long-term unenhanced rating on its Parity Debt from any of Fitch, Moody’s or S&P if the effect of such withdrawal would be to cure a Default or an Event of Default under this Agreement. Further, such rating shall not be older than twenty-four
Underlying Rating. If at any time there is a long-term unenhanced rating from any Rating Agency on the Commission’s Revenues Secured Debt, the Commission covenants and agrees that such rating shall not fall below Investment Grade or be suspended, withdrawn or unavailable for non-credit-related reasons. The Commission covenants and agrees that it shall not at any time withdraw any long-term unenhanced rating on its Revenues Secured Debt from any Rating Agency if the effect of such withdrawal would be to cure a Default or an Event of Default under this Agreement.
Underlying Rating. The City will at all times maintain a Lease Revenue Bond Rating from at least one Rating Agency. The City covenants and agrees that it will not at any time withdraw any Lease Revenue Bond Rating if the effect of such withdrawal would be to cure a Default or an Event of Default under this Agreement.
Underlying Rating. The Authority shall at all times maintain a rating on its long-term unenhanced Senior Obligations of at least (a) “BBB-” (or the equivalent) from S&P and (b) “Baa3” (or the equivalent) from Xxxxx’x. The Authority covenants and agrees that it shall not at any time permit any such rating to be withdrawn or suspended.
