Anatomy of a Credit Estimate definition

Anatomy of a Credit Estimate. What It Means and How We Do It” dated January 14, 2021, and any other available information S&P reasonably requests in order to produce a credit estimate for a particular asset.
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Anatomy of a Credit Estimate. What It Means and How We Do It” dated January 14, 2021 (as the same may be amended or updated from time to time);
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Anatomy of a Credit Estimate. What It Means And How We Do It”, dated January 14, 2021 and any other available information S&P reasonably requests in order to produce a credit estimate for a particular asset. “Requisite Voting Percentage”: The percentage of the Aggregate Outstanding Amount of the relevant Debt required to satisfy the relevant voting threshold, such as consents for a proposed supplemental indenture. “Responsible Officer”: With respect to any Person, any duly authorized director, officer or manager of such Person with direct responsibility for the administration of the applicable agreement and also, with respect to a particular matter, any other duly authorized director, officer or manager of such Person to whom such matter is referred because of such director’s, officer’s or manager’s knowledge of and familiarity with the particular subject. Each party may receive and accept a certification of the authority of any other party as conclusive evidence of the authority of any Person to act, and such certification may be considered as in full force and effect until receipt by such other party of written notice to the contrary. “Restricted Trading Period”: The period during which (a) the S&P rating of any of the Class A Debt is one or more subcategories below its rating on the Closing Date or (b) the S&P rating of any of the Class B Notes or the Class C Notes is two or more subcategories below its rating on the Closing Date; provided, that such period will not be a Restricted Trading Period (i) (x) if the Aggregate Principal Balance of the Collateral Obligations plus Eligible Investments constituting Principal Proceeds is greater than or equal to the Reinvestment Target Par Balance and (y) the Coverage Tests, the Minimum Weighted Average S&P Recovery Rate Test and the Minimum Floating Spread Test are satisfied or (ii) so long as the S&P rating of any Class of Debt has not been further downgraded, withdrawn or put on watch for potential downgrade, upon the direction of the Issuer with the consent of a Majority of the Controlling Class; provided, further that no Restricted Trading Period shall restrict any sale of a Collateral Obligation entered into by the Issuer at a time when a Restricted Trading Period is not in effect regardless of whether such sale has settled. “Restructured Loan”: A bank loan acquired by the Issuer resulting from, or received in connection with, the workout or restructuring of a Collateral Obligation, which for the avoidance of doubt is not a Bond or equi...
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More Definitions of Anatomy of a Credit Estimate

Anatomy of a Credit Estimate. What It Means And How We Do It" dated January 14, 2021 and any other available information S&P reasonably requests in order to produce a credit estimate for a particular asset. "Information Agent": The meaning specified in Section 14.17(a) (17g-5 Information). "Information Agent Address": The meaning specified in Section 14.3(e)(ii) (Notices, etc., to Collateral Trustee, the Loan Agent, the Issuers, the Collateral Manager, the Initial Purchaser, the Collateral Administrator, the Paying Agent, each Hedge Counterparty and the Rating Agency). "Initial Interest Coverage Test Date": The Determination Date with respect to the second Payment Date after the 2024 Closing Date. "Initial Purchaser": BNP Paribas Securities Corp, as initial purchaser of certain Debt. "Initial Rating": With respect to the Secured Debt, the rating or ratings, if any, indicated in Section 2.3(b) (Authorized Amount; Stated Maturity; Denominations). "Initial Target Rating": With respect to any Class or Classes of Outstanding Secured Debt, the applicable rating specified in the table below: Class Initial Target S&P Rating A-1 "AAA(sf)" A-2 "AA(sf)" B "A(sf)" C "BBB-(sf)" "Institutional Accredited Investor": An Accredited Investor under clauses (1), (2), (3) or (7) of Rule 501(a) under the Securities Act. "Instrument": The meaning specified in Section 9-102(a)(47) of the UCC. "Interest Accrual Period": (i) With respect to the initial Payment Date (or, in the case of a Class that is subject to a Refinancing or Re-Pricing or Debt issued or incurred, as applicable, in connection with an additional issuance or incurrence, in each case, on a Business Day other than a Payment Date, the first Payment Date following the Re-Pricing Date or the Redemption Date), the period from and including the 2024 Closing Date (or in the case of (x) a Refinancing on a Business Day other than a Payment Date, the Redemption Date related to such Refinancing, (y) a Re-Pricing on a Business Day other than a Payment Date, the Re-Pricing Date of such Re-Pricing and (z) an additional issuance or incurrence on a Business Day other than a Payment Date, the date of such additional issuance or incurrence ) to but excluding such Payment
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Anatomy of a Credit Estimate. What It Means And How We Do It” dated January 14, 2021 (as the same may be amended or updated from time to time); (iii) with respect to a DIP Collateral Obligation, if the S&P Rating cannot otherwise be determined pursuant to this definition, the S&P Rating of such Collateral Obligation will be “CCC-”; (iv) with respect to a Collateral Obligation that is not a Defaulted Obligation or a Current Pay Obligation, the S&P Rating of such Collateral Obligation will at the election of the Issuer (at the direction of the Collateral Manager) be “CCC-”; provided, that (A) the Collateral Manager expects the Obligor in respect of such Collateral Obligation to continue to meet its payment obligations under such Collateral Obligation, (B) neither the issuer of such Collateral Obligation nor any of its Affiliates are subject to any bankruptcy or reorganization proceedings, (C) the issuer has not defaulted on any payment obligation in respect of any debt security or other obligation of the issuer at any time within the two year period ending on such date of determination, (D) all such
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Anatomy of a Credit Estimate. What It Means And How We Do It”, dated January 14, 2021 (as the same may be amended or updated from time to time); and (d) with respect to a Current Pay Obligation, the S&P Rating of such Collateral Obligation will be the higher of its issue rating and “CCC”; provided, that for purposes of the determination of the S&P Rating, (x) if the applicable rating assigned by S&P to an obligor or its obligations is on “credit watch positive” by S&P, such rating will be treated as being one subcategory above such assigned rating and (y) if the applicable rating assigned by S&P to an obligor or its obligations is on “credit watch negative” by S&P, such rating will be treated as being one subcategory below such assigned rating. “S&P Rating Condition”: With respect to any action taken or to be taken by or on behalf of the Issuer, a condition that is satisfied if S&P has specifically confirmed in writing, including by electronic messages, facsimile, press release or posting to its internet website (or has
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Related to Anatomy of a Credit Estimate

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Request for Credit Extension means (a) with respect to a Borrowing, conversion or continuation of Committed Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

  • Credit Extension means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

  • Swingline Borrowing means a Borrowing comprised of Swingline Loans.

  • Standard Letter of Credit Practice means, for Issuing Bank, any domestic or foreign law or letter of credit practices applicable in the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are required or permitted under ISP or UCP, as chosen in the applicable Letter of Credit.

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Swing Line Borrowing means a borrowing of a Swing Line Loan pursuant to Section 2.04.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Notice of Swingline Borrowing shall have the meaning set forth in Section 2.4.

  • Notice of Swing Line Borrowing has the meaning specified in Section 2.02(b).

  • Letter of Credit Report means a certificate substantially the form of Exhibit H or any other form approved by the Administrative Agent.

  • Letter of Credit Outstandings means, at any time, the sum of (i) the aggregate Stated Amount of all outstanding Letters of Credit and (ii) the amount of all Unpaid Drawings.

  • Swingline Loan Notice means a notice of a Swingline Borrowing pursuant to Section 2.04(b), which shall be substantially in the form of Exhibit J or such other form as approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the Borrower.

  • Swingline Borrowing Request means a request by a Borrower substantially in the form of Exhibit C-2.

  • L/C Disbursement means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit.

  • Revolving Loan Notice means a notice of (a) a Revolving Borrowing, (b) a conversion of Revolving Loans from one Type to the other, or (c) a continuation of Revolving Loans as the same Type, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A.