Applicable Recovery Rate means, with respect to any Collateral Debt Security on any Measurement Date, the lesser of (a) an amount equal to the percentage for such Collateral Debt Security set forth in the Moody’s Recovery Rate Matrix set forth in Part I of Schedule A hereto in (x) the table corresponding to the relevant Specified Type of Collateral Debt Security, (y) the column in such table setting forth the Moody’s Rating of such Collateral Debt Security as of the date of issuance of such Collateral Debt Security and (z) the row in such table opposite the percentage of the issue of which such Collateral Debt Security including, for senior only bonds, all other bonds which are pari passu in terms of losses, is a part relative to the total capitalization of (including both debt and equity securities issued by) the relevant issuer of or obligor on such Collateral Debt Security, determined on the original issue date of such Collateral Debt Security, provided that (1) if such Collateral Debt Security is a U.S. Agency Guaranteed Security or FHLMC/FNMA Guaranteed Security, it will be treated as an ABS Type Diversified Security for the purposes of applying the recovery rate in Part I of Schedule A hereto, (2) if the timely payment of principal of and interest on such Collateral Debt Security is guaranteed (and such guarantee ranks equally and ratably with the guarantor’s senior unsecured debt) by another Person, unless such Collateral Debt Security is a U.S. Agency Guaranteed Security or FHLMC/FNMA Guaranteed Security, such amount will be 30% and (3) if such Collateral Debt Security is a Reinsurance Security, such amount will be assigned by Moody’s upon the purchase of each such Collateral Debt Security and (b) an amount equal to the percentage for such Collateral Debt Security set forth in the Standard & Poor’s Recovery Rate Matrix set forth in Part II of Schedule A hereto in (x) the applicable table, (y) the row in such table opposite the Standard & Poor’s Rating of such Collateral Debt Security at the time of issuance of such Collateral Debt Security and (z) (i) for purposes of determining the Standard & Poor’s Weighted Average Recovery Rate, in the column in such table below the current rating of the respective Class of Notes or (ii) for purposes of determining the Calculation Amount, in the column in such table below the current rating of the Class of Outstanding Notes with the highest rating by Standard & Poor’s in the Recovery Rate Matrix set forth in Part III of Schedule A. For ...
Applicable Recovery Rate means, with respect to any Collateral Debt Security, the least of the Fitch Recovery Rate for such Collateral Debt Security, the Moody’s Recovery Rate for such Collateral Debt Security and the Standard & Poor’s Recovery Rate for such Collateral Debt Security.
Applicable Recovery Rate. The lowest of the Moody’s Recovery Rate, the Fitch Applicable Recovery Rate and the S&P Recovery Rate, as applicable.
Examples of Applicable Recovery Rate in a sentence
For purposes of determining the Moody's sector classification, the Applicable Recovery Rate and Specified Type of any Synthetic Obligation, such Synthetic Obligation shall be treated as a Collateral Debt Security having the characteristics of the related Reference Obligation(s), and any such determination shall be based proportionately on the related Reference Obligation(s) according to their proportion of such Synthetic Obligation.
Applicable Recovery Rate means, with respect to each Collateral Debt Security, the lowest of the Fitch Recovery Rate, the S&P Recovery Rate and the Moody's Recovery Rate (in each case, for so long as the Notes rated by the applicable Rating Agency are Outstanding) in respect of such Collateral Debt Security.
Applicable Recovery Rate means, with respect to each Collateral Debt Security, the lowest of the Fitch Recovery Rate, the S&P Recovery Rate and (for so long as the Class A1 Notes are Outstanding), the Moody's Recovery Rate in respect of such Collateral Debt Security.
More Definitions of Applicable Recovery Rate
Applicable Recovery Rate means the lesser of the Moody's Recovery Rate and/or the S&P Recovery Rate in respect of any Collateral.
Applicable Recovery Rate. For each Collateral Obligation with respect to any date of determination, the lower of (i) the Xxxxx’x Recovery Rate and (ii) the S&P Recovery Rate, in each case, for such Collateral Obligation as of such date of determination.
Applicable Recovery Rate means, with respect to any Collateral Debt Security on any Measurement Date, an amount equal to the lower of (a) an amount equal to the percentage corresponding to the domicile, original rating at issuance, tranche thickness and seniority of such Collateral Debt Security, as set forth in the Fitch Recovery Rate Matrix available in the latest version of Fitch's Default Vector model, that can be downloaded at www.derivativefitch.com; provided, that the applicable percentage will be the percentage corresponding to the then-current ratings by Fitch for the most Senior outstanding Class of Notes or (b) the percentage for such Collateral Debt Security set forth in the Moody's Recovery Rate Matrix attached as Schedule G hereto in (i) the applicable table therein, (ii) the row in such table opposite the applicable percentage of the underlying capital structure and (iii) the column in such table below the rating assigned by Moody's of such Collateral Debt Security as of the date of issuance of such Collateral Debt Security.
Applicable Recovery Rate means, with respect to any Collateral Debt Security on any Measurement Date, the applicable S&P Recovery Rate for such Collateral Debt Security on such date.
Applicable Recovery Rate. The lowest of the Moody's Recovery Rate, the Fitch Applicable Recovery Rate and the S&P Recovery Rate, as applicable; provided that the Applicable Recovery Rate for any Collateral Debt Security with respect to which substitute or additional collateral (in the form of Cash or Eligible Investments) in an amount at least equal to the sum of the principal amount of such Collateral Debt Security and the aggregate of all remaining scheduled interest payments thereon through the earliest permissible prepayment date has been delivered by or on behalf of the related obligor to the Trustee and deposited into a Defeased Collateral Account (or to the Servicer in accordance with the Servicing Agreement and deposited into an Eligible Account) (by defeasance or otherwise) shall be 100%.
Applicable Recovery Rate means with respect to any Collateral Debt Security on any Measurement Date, the lesser of:
Applicable Recovery Rate means the lowest of the Moody’s Applicable Recovery Rate, the S&P Applicable Recovery Rate and the Fitch Applicable Recovery Rate.