Accepted Agency Rating definition

Accepted Agency Rating means (a) a long-term local issuer credit rating (not supported by third party credit enhancement) for Seller Parent Guarantor of BBB- or better from S&P or (b) a local long-term issuer credit rating (not supported by third party credit enhancement) for Seller Parent Guarantor or a senior unsecured long-term debt rating (not supported by third party credit enhancement) for Seller Parent Guarantor of, in each case, Baa3 or better from Xxxxx’x, except that if, at any time, (i) Seller Parent Guarantor has more than one credit rating that meets the above criteria for an Accepted Agency Rating, the applicable Accepted Agency Rating shall be the lowest such credit rating and (ii) Seller Parent Guarantor has one or more credit ratings that meet the above criteria for an Accepted Agency Rating but a local long-term issuer rating (not supported by third party credit enhancement) from S&P or Xxxxx’x or a senior unsecured long-term debt rating (not supported by third party credit enhancement) from Xxxxx’x that does not meet the criteria for an Accepted Agency Rating, Seller Parent Guarantor shall not have an Accepted Agency Rating.
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Accepted Agency Rating means (a) a long-term local issuer credit rating (not supported by third party credit enhancement) for Seller Parent Guarantor of BBB- or better from S&P or
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Accepted Agency Rating means (i) a local long-term issuer credit rating for Seller Parent Guarantor6 of BBB- or better from S&P or (ii) a local long-term issuer credit rating for Seller Parent Guarantor or a senior unsecured long-term debt rating offor Seller Parent Guarantor of, in each case, Baa3 or better from Xxxxx’x., except that if, at any time, (a) Seller Parent Guarantor has more than one credit rating that meets the above criteria for an Accepted Agency Rating, the applicable Accepted Agency Rating shall be the lowest such credit rating and (b) Seller Parent Guarantor has one or more credit ratings that meet the above criteria for an Accepted Agency Rating but a local long-term issuer rating from S&P or Xxxxx’x or a senior unsecured long-term debt rating from Xxxxx’x that does not meet the criteria for an Accepted Agency Rating, Seller Parent Guarantor shall not have an Accepted Agency Rating.
Sample 1

More Definitions of Accepted Agency Rating

Accepted Agency Rating means (i) a local long-term issuer credit rating (not supported by third party credit enhancement) for Seller Parent Guarantor8 of BBB- or better from S&P or (ii) a local long-term issuer credit rating (not supported by third party credit enhancement) for Seller Parent Guarantor or a senior unsecured long-term debt rating (not supported by third party credit enhancement) for Seller Parent Guarantor of, in each case, Baa3 or better from Moody’s, except that if, at any time, (a) Seller Parent Guarantor has more than one credit rating that meets the above criteria for an Accepted Agency Rating, the applicable Accepted Agency Rating shall be the lowest such credit rating and (b) Seller Parent Guarantor has one or more credit ratings that meet the above criteria for an Accepted Agency Rating but a local long-term issuer rating (not supported by third party credit enhancement) from S&P or Moody’s or a senior unsecured long-term debt rating (not supported by third party credit enhancement) from Moody’s that does not meet the criteria for an Accepted Agency Rating, Seller Parent Guarantor shall not have an Accepted Agency Rating.
Sample 1
Accepted Agency Rating but the requirements for Seller Parent Guarantor having an Accepted Agency Rating remain satisfied, (i) Seller shall notify Buyer within ten five (105) Business Days of the occurrence of such downgrade, (ii) the Applicable PA Amount Reduction shall be reduced as a result of such downgrade if and to the extent the cap on the Applicable PA Amount Reduction specified in the definition of “Applicable PA Amount Reduction” would require an increase to the Performance Assurance provided by Seller, and (iii) if the effect of clause (ii) would require an increase to the Performance Assurance provided by Seller, then within ten five (105) Business Days of the downgrade in Seller Parent Guarantor’s Accepted Agency Rating, the aggregate amount of the Performance Assurance required to be delivered to Buyer pursuant to this Agreement shall be increased by an amount that will cause the aggregate amount of the Performance Assurance delivered to Buyer pursuant to this Agreement to equal the Required PA Amount.
Sample 1

Related to Accepted Agency Rating

  • Xxxxx’x Rating means, at any time, the rating issued by Xxxxx’x and then in effect with respect to the Borrower’s senior unsecured long-term debt securities without third-party credit enhancement.

  • Mxxxx’x Rating means, with respect to a Reference Obligation, as of any date of determination:

  • Index Debt Rating means the S&P Rating, the Xxxxx’x Rating and the Fitch Rating.

  • Debt Rating has the meaning specified in the definition of “Applicable Rate.”

  • Risk Rating means, with respect to any Loan at any time, if such Loan is at such time (i) rated by both S&P and Moody’s, the lower of such ratings, (ii) rated by either S&P or Moody’s, such rating or (iii) not rated by either S&P or Moody’s, the rating determined by the Servicer’s risk rating model.

  • Required Rating means, in the case of Moody's, the rating assigned to the Underlying Securities by Moody's as of the Closing Date, and, in the case of S&P, the rating assigned to the Underlying Securities by S&P as of the Closing Date.

  • Moody’s means Xxxxx’x Investors Service, Inc.

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower's senior unsecured long-term debt securities without third-party credit enhancement.

  • approved rating means, for a security, a rating at or above one of the following rating categories issued by an approved rating organization for the security or a rating category that replaces a category listed below:

  • Credit Rating means, with respect to any entity, the rating then assigned to such entity’s unsecured, senior long-term debt obligations (not supported by third party credit enhancements) or if such entity does not have a rating for its senior unsecured long-term debt, then the rating then assigned to such entity as an issuer rating by S&P, Moody’s or any other rating agency agreed by the Parties as set forth in the Cover Sheet.

  • Substitute Rating Agency means a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Securities Exchange Act of 1934, as amended, selected by the Company (as certified by a resolution of the Company’s board of directors) as a replacement agency for Moody’s or S&P, or both, as the case may be.

  • Rating means the operating limits as specified by the component manufacturer.

  • Designated Rating means, for a security or instrument, a rating issued by a designated rating organization, or its DRO affiliate, that is at or above one of the following rating categories, or that is at or above a category that replaces one of the following rating categories, if

  • Credit Rating Agency means a nationally recognized credit rating agency that evaluates the financial condition of issuers of debt instruments and then assigns a rating that reflects its assessment of the issuer’s ability to make debt payments.

  • Corporate Rating an opinion issued by S&P of an obligor’s overall financial capacity (its creditworthiness) to pay its financial obligations.

  • Debt Ratings has the meaning specified in the definition of “Applicable Rate.”