Applicable S&P Rating the senior long-term unsecured debt rating that S&P provides of (i) the Guarantor or (ii) if S&P does not provide such a rating of the Guarantor, then the Master Trust or (iii) if S&P does not provide such a rating of the Guarantor or the Master Trust, then the Borrower.
Applicable S&P Rating means the senior long-term unsecured debt rating that S&P provides of (i) the Performance Undertaking Provider or (ii) if S&P does not provide such a rating of the Performance Undertaking Provider, then the Bunge Master Trust or (iii) if S&P does not provide such a rating of the Performance Undertaking Provider or the Bunge Master Trust, then Bunge Limited Finance Corp.
Applicable S&P Rating means the Rating that S&P provides of (i) the Parent or (ii) if S&P does not provide a Rating of the Parent, then the Bunge Master Trust or (iii) if S&P does not provide a Rating of the Parent or the Bunge Master Trust then BLFC provided that BLFC is at that time an Investor Certificateholder.
Examples of Applicable S&P Rating in a sentence
If the Applicable S&P Rating is below “BBB-” (or withdrawn or suspended) and the Applicable Moody’s Rating is below “Baa3” (or withdrawn or suspended), then the Administrative Agent (at the direction of any Purchaser) may appoint a back-up servicer reasonably acceptable to the Administrative Agent hereunder and under the other Transaction Documents at the reasonable expense of the Master Servicer.
TERMS RELATING TO THE CLASS UNDER WHICH THE TRANCHE IS ISSUED Class Number: [•] Initial Threshold: [•] Tranche Limit: [•] Fitch Rating: [Applicable]/[Not Applicable] Moody’s Rating: [Applicable]/[Not Applicable] S&P Rating: [Applicable]/[Not Applicable] Class Ratings: Expected to be rated [•] [by S&P]/[by Moody’s]/[by Fitch] 1.
If the Applicable S&P Rating is below “BBB-” (or withdrawn or suspended) and the Applicable Xxxxx’x Rating is below “Baa3” (or withdrawn or suspended), then the Administrative Agent (at the direction of any Purchaser) may appoint a back-up servicer reasonably acceptable to the Administrative Agent hereunder and under the other Transaction Documents at the reasonable expense of the Master Servicer.
As soon as possible and in any event within the five (5) Business Days after a Responsible Officer of the Master Servicer obtains knowledge thereof, the Master Servicer shall provide to the Administrative Agent notice of any downgrade in the Applicable S&P Rating or Applicable Mxxxx’x Rating, respectively (or the withdrawal by either S&P or Mxxxx’x of the Applicable S&P Rating or Applicable Mxxxx’x Rating, respectively), setting forth the debt affected and the nature of such change (or withdrawal).
As soon as possible and in any event within five (5) Business Days after a Responsible Officer of the Performance Undertaking Provider obtains knowledge thereof, to each Agent notice of any downgrade in the Applicable S&P Rating or Applicable Xxxxx’x Rating, respectively (or the withdrawal by either S&P or Xxxxx’x of the Applicable S&P Rating or Applicable Xxxxx’x Rating, respectively), setting forth the debt affected and the nature of such change (or withdrawal).
More Definitions of Applicable S&P Rating
Applicable S&P Rating means the senior long-term unsecured debt rating that S&P provides of (i) the Guarantor or (ii) if S&P does not provide such a rating of the Guarantor, then the Trust or (iii) if S&P does not provide such a rating of the Guarantor or the Trust, then BLFC.
Applicable S&P Rating means the highest long-term senior, unsecured, non-credit enhanced, monitored credit rating of PLC that is published by S&P.
Applicable S&P Rating means the senior long-term unsecured debt rating that S&P provides of (i) the Performance Undertaking Provider or (ii) if S&P does not provide such a rating of the Performance Undertaking Provider, then Bunge Limited Finance Corp.
Applicable S&P Rating means, at any time, (i) the rating issued by S&P and then in effect with respect to the Company’s senior secured long-term debt securities without third-party credit enhancement or (ii) if the foregoing rating is no longer in effect, the corporate credit rating issued by S&P and then in effect with respect to the Company.
Applicable S&P Rating means, at any time, the corporate credit rating issued by S&P and then in effect with respect to the Company. In addition to the provisions set forth above, if a split occurs between the Applicable Xxxxx’x Rating and the Applicable S&P Rating that is greater than one ratings category, then the pricing shall be that set forth above with respect to the combination of (i) the higher of such ratings and (ii) the rating of the other ratings service that is one ratings category above the ratings category reported by such other ratings service. The applicable fee percentages and margins described in the foregoing table shall be determined in accordance with the foregoing table based on the Company’s Status as determined from its then-current Applicable Xxxxx’x Rating and Applicable S&P Rating. Opening Status is anticipated to be Level III Status. The credit rating in effect on any date for the purposes of this Schedule is that in effect at the close of business on such date. If at any time the Company has no Applicable Xxxxx’x Rating or no Applicable S&P Rating, Level IV Status shall exist. UBS LOAN FINANCE LLC $48,349,514.56 DEUTSCHE BANK AG NEW YORK BRANCH $28,203,883.50 CAPITAL ONE LEVERAGE FINANCE CORP. $12,087,378.64 JPMORGAN CHASE BANK, N.A. $65,000,000.00 CITICORP NORTH AMERICA, INC. $56,407,766.99 BANK OF AMERICA, N.A. $56,400,000.00 ROYAL BANK OF CANADA $50,000,000.00 THE ROYAL BANK OF SCOTLAND PLC $48,349,514.56 BNP PARIBAS $35,000,000.00 PNC BANK, NATIONAL ASSOCIATION $35,000,000.00 FIFTH THIRD BANK $24,174,757.00 COMERICA BANK $20,000,000.00 THE HUNTINGTON NATIONAL BANK $20,000,000.00 TO: JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”) under that certain Second Amended and Restated Credit Agreement, dated as of February [__], 2014, by and among Meritor, Inc., an Indiana corporation (the “Company”), ArvinMeritor Finance Ireland (the “Subsidiary Borrower”), the institutions from time to time parties thereto as “Lenders”, and the Administrative Agent (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). The Company hereby gives to the Administrative Agent a Borrowing/Election Notice pursuant to [Section 2.1] [Section 2.2] [Section 2.9] of the Credit Agreement [on behalf of the Subsidiary Borrower] and hereby requests to [borrow] [convert/continue an Advance] [on behalf of the Subsidiary Borrower] on ______________ (the “Borrowing Date”) as follows:
Applicable S&P Rating means, at any time, the corporate credit rating issued by S&P and then in effect with respect to the Company. In addition to the provisions set forth above, if a split occurs between the Applicable Xxxxx’x Rating and the Applicable S&P Rating that is greater than one ratings category, then the pricing shall be that set forth above with respect to the combination of (i) the higher of such ratings and (ii) the rating of the other ratings service that is one ratings category above the ratings category reported by such other ratings service. The applicable fee percentages and margins described in the foregoing table shall be determined in accordance with the foregoing table based on the Company’s Status as determined from its then-current Applicable Xxxxx’x Rating and Applicable S&P Rating. Opening Status is anticipated to be Level III Status. The credit rating in effect on any date for the purposes of this Schedule is that in effect at the close of business on such date. If at any time the Company has no Applicable Xxxxx’x Rating or no Applicable S&P Rating, Level V Status shall exist. JPMORGAN CHASE BANK, N.A. $70,000,000.00 BANK OF AMERICA, N.A. $70,000,000.00 ROYAL BANK OF CANADA $65,000,000.00 PNC BANK, NATIONAL ASSOCIATION $65,000,000.00 BNP PARIBAS $50,000,000.00 THE ROYAL BANK OF SCOTLAND PLC (TRADING AS NATWEST MARKETS) $50,000,000.00 FIFTH THIRD BANK $35,000,000.00 THE HUNTINGTON NATIONAL BANK $35,000,000.00 U.S. BANK NATIONAL ASSOCIATION $35,000,000.00 CITIZENS BANK, N.A. $25,000,000.00 COMERICA BANK $25,000,000.00 TO: JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”) under that certain Third Amended and Restated Credit Agreement, dated as of March 31, 2017, by and among Meritor, Inc., an Indiana corporation (the “Company”), ArvinMeritor Finance Ireland Unlimited Company (the “Subsidiary Borrower”), the institutions from time to time parties thereto as “Lenders” and the Administrative Agent (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). The Company hereby gives to the Administrative Agent a Borrowing/Election Notice pursuant to [Section 2.1] [Section 2.9] of the Credit Agreement [on behalf of the Subsidiary Borrower] and hereby requests to [borrow] [convert/continue an Advance] [on behalf of the Subsidiary Borrower] on ______________ (the “Borrowing Date”) as follows:
Applicable S&P Rating means, at any time, the corporate credit rating issued by S&P and then in effect with respect to the Company. In addition to the provisions set forth above, if a split occurs between the Applicable Xxxxx’x Rating and the Applicable S&P Rating that is greater than one ratings category, then the pricing shall be that set forth above with respect to the combination of (i) the higher of such ratings and (ii) the rating of the other ratings service that is one ratings category above the ratings category reported by such other ratings service. The Applicable Eurocurrency Margin, the Applicable Floating Rate Margin, the Applicable Commitment Fee Percentage and the Applicable L/C Fee Percentage shall each be determined in accordance with the such foregoing table based on the Company’s Status as determined from its then-current Applicable Xxxxx’x Rating and Applicable S&P Rating. The credit rating in effect on any date for the purposes of this Schedule is that in effect at the close of business on such date. If at any time the Company has no Applicable Xxxxx’x Rating or no Applicable S&P Rating, Level V Status shall exist. For the purposes of this Schedule, the following terms have the following meanings, subject to the final two paragraphs of this Schedule: “Level I Status” exists at any date if, on such date, the Company’s Applicable Xxxxx’x Rating is Ba3 or better and the Company’s Applicable S&P Rating is BB- or better.