Examples of Approved Rating Agency in a sentence
It is expressly agreed and understood, however, that receipt of a Review Waiver (i) from any one Approved Rating Agency shall not be binding or apply with respect to any other Approved Rating Agency and (ii) with respect to one matter shall not apply or be deemed to apply to any subsequent matter for which Rating Agency Confirmation is required.
Not less frequently than once every twelve calendar months during the term of each series of Notes, the Company shall cause such rating with respect to such Notes to be maintained by an Approved Rating Agency and evidence of such rating shall be delivered to each holder of Notes.
On or before December 31, 1996, Borrower will obtain, and shall thereafter always maintain in effect, a rating for the long-term unsecured debt of Borrower from Standard & Poor's Rating Group, Xxxxx Investor Services, Fitch Investor Services, Duff & Xxxxxx or any other nationally recognized rating agency approved by Lender (an "Approved Rating Agency").
In the event the Notes receive a rating below Investment Grade in a rating of the Notes conducted by an Approved Rating Agency pursuant to the preceding sentence, the interest rate payable by the Obligors on the Notes shall be increased by 150 basis points effective from the date Petro ceases to be a Wholly-Owned Subsidiary until such date an Approved Rating Agency gives the Notes a rating equivalent to or higher than Investment Grade.
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