Account Bank Required Rating definition

Account Bank Required Rating means ratings, solicited or unsolicited, of:

Account Bank Required Rating means ratings, solicited or unsolicited, of at least a short-term rating of "F-1" or a long-term rating of "A" from Fitch, and a long-term rating of "A" from DBRS, and a short-term rating of at least "A-1" and a long-term rating of at least "A" from S&P, or, if such entity is not subject to a short-term rating from S&P, long-term ratings of at least "A+" from S&P.

Account Bank Required Rating means, at any time in respect of any financial institution acting as Account Bank:

Examples of Account Bank Required Rating in a sentence

• In case of a termination as a result of the short-term or long-term ratings of the Account Bank fall below the Account Bank Required Rating, the outgoing Account Bank shall reimburse the Issuer for the costs (including legal costs and administration costs) or pay any costs incurred for the purpose of appointing a Successor Bank up to an amount of GBP 20,000 (the "Replacement Cost").

• In case of a termination as a result of the Account Bank failing to maintain an Account Bank Required Guarantee or if its short-term or long-term ratings fall below the Account Bank Required Rating, the outgoing Account Bank shall reimburse the Issuer for the costs (including legal costs and administration costs) or pay any costs incurred for the purpose of appointing a Successor Bank up to an amount of GBP 15,000 (the "Account Bank Replacement Cost").

• In case of a termination as a result of the Account Bank failing to maintain an Account Bank Required Guarantee or if its short-term or long-term ratings fall below the Account Bank Required Rating, the outgoing Account Bank shall reimburse the Issuer for the costs (including legal costs and administration costs) or pay any costs incurred for the purpose of appointing a Successor Bank up to an amount of GBP 15,000 (the "Account Bank Replacement Costs").

• In case of a termination as a result of the Account Bank failing to maintain an Account Bank Required Guarantee or if its short- term or long-term ratings fall below the Account Bank Required Rating, the outgoing Account Bank shall reimburse the Issuer for the costs (including legal costs and administration costs) or pay any costs incurred for the purpose of appointing a Successor Bank up to an amount of GBP 15,000 (the "Account Bank Replacement Cost").

• In case of a termination as a result of the short-term or long-term ratings of the Account Bank fall below the Account Bank Required Rating, the outgoing Account Bank shall reimburse the Issuer for the costs (including legal costs and administration costs) or pay any costs incurred for the purpose of appointing a Successor Bank up to an amount of GBP 15,000 (the "Replacement Cost").

• Should the Account Bank cease to have the Account Bank Required Rating or fails to maintain an Account Bank Required Guarantee, Account Bank shall use all endeavours within its control during the remedy period as specified by the relevant Rating Agency which is sixty (60) calendar days to assist the Issuer to, and the Issuer shall: (i) transfer the Accounts held with it to an Eligible Collateral Bank or (ii) find an irrevocable and unconditional guarantor providing the Account Bank Required Guarantee.

• Should the Account Bank cease to have the Account Bank Required Rating or fail to maintain an Account Bank Required Guarantee, the Account Bank shall use all endeavours within its control during the remedy period as specified by the relevant Rating Agency which is sixty (60) calendar days to assist the Issuer to, and the Issuer shall: (i) transfer the Accounts held with it to an Eligible Collateral Bank or (ii) find an irrevocable and unconditional guarantor providing the Account Bank Required Guarantee.

More Definitions of Account Bank Required Rating

Account Bank Required Rating means a short-term debt rating of at least A-1 by S&P and at least P-1 by Xxxxx’x.

Account Bank Required Rating means, with respect to the Account Bank, that (i) the short-term unsecured, unsubordinated and unguaranteed debt obligations of the Account Bank are assigned a rating of at least A2 (or its replacement) by S&P or, if S&P has not assigned any rating to the short-term unsecured, unsubordinated and unguaranteed debt obligations of the Account Bank, the long-term, unsecured, unsubordinated and unguaranteed debt obligations of the Account Bank are assigned a rating of at least BBB (or its replacement) by S&P and (ii) the long-term, unsecured, unsubordinated and unguaranteed debt obligations of the Account Bank are assigned a rating of at least BBB (or its replacement) by DBRS. 14.2 Successor Bank

Account Bank Required Rating means a senior short-term foreign currency credit rating from each of the then Applicable Rating Agencies of at least “P-1” (if Moody’s is an Applicable Rating Agency), “F-1” (if Fitch is an Applicable Rating Agency) and/or “A-1” (if S&P is an Applicable Rating Agency);

Account Bank Required Rating means a short-term unsecured, unguaranteed, unsubordinated debt obligation rating of Fl by Fitch or P-1 by Moody's and a long- term, unsecured and unsubordinated debt or counterparty obligation rating at least A by Fitch or such other lower short-term or long-term rating by the relevant Rating Agency which the relevant Rating Agency (at its discretion) confirms as sufficient in order to maintain the then current rating of the Rated Notes.

Account Bank Required Rating means a short-term unsecured, unguaranteed, unsubordinated debt obligation rating of Fl by Fitch or P-1 by Moody's and a long- term, unsecured and unsubordinated debt or counterparty obligation rating at least A by Fitch or such other rating as may be agreed with the Rating Agencies from time to time provided that, if the Account Bank has been put on "Ratings Watch Negative" by Fitch such that it is treated by Fitch as being rated below such required rating, the rating of the Account Bank shall be deemed to be one notch below its then current rating.

Account Bank Required Rating means the short-term unsecured, unsubordinated, unguaranteed debt obligations being rated at least A-1 by S&P.