BBB-/Baa3 Manufacturer definition

BBB-/Baa3 Manufacturer means, as of any day, each Manufacturer of a Program Vehicle from an Eligible Program Manufacturer that is rated at least “BBB-” from S&P, at least “Baa3” from Moody’s and, unless otherwise agreed to by Fitch, at least “BBB-” from Fitch, but which is not rated at least “BBB” from S&P, at least “Baa2” from Moody’s and, unless otherwise agreed to by Fitch, at least “BBB” from Fitch; provided that upon the withdrawal of the rating of a Manufacturer by a Rating Agency or upon the downgrade of a Manufacturer by a Rating Agency to a rating that would require inclusion of such Manufacturer in this definition, for purposes of this definition and each instance in which this definition is used in this Series Supplement, such Manufacturer shall be deemed to be rated “BBB”, “Baa2” and/or “BBB”, as applicable, by the Rating Agency which downgraded such Manufacturer for a period of 30 days following the earlier of (i) the date on which any of the Administrator, HVF or the Servicer obtains actual knowledge of such downgrade and (ii) the date an which the Trustee or the Insurer notifies the Administrator of such downgrade.
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BBB-/Baa3 Manufacturer means, as of any day, each Manufacturer of a Program Vehicle from an Eligible Program Manufacturer that is rated at least “BBB-” from S&P, at least “Baa3” from Xxxxx’x and, unless otherwise agreed to by Fitch, at least “BBB-” from Fitch, but which is not rated at least “BBB” from S&P, at least “Baa2” from Xxxxx’x and, unless otherwise agreed to by Fitch, at least “BBB” from Fitch; provided that upon the withdrawal of the rating of a Manufacturer by a Rating Agency or upon the downgrade of a Manufacturer by a Rating Agency to a rating that would require inclusion of such Manufacturer in this definition, for purposes of this definition and each instance in which this definition is used in this Series Supplement, such Manufacturer shall be deemed to be rated “BBB”, “Baa2” and/or “BBB”, as applicable, by the Rating Agency which downgraded such Manufacturer for a period of 30 days following the earlier of (i) the date on which any of the Administrator, HVF or the Servicer obtains actual knowledge of such downgrade and (ii) the date an which the Trustee or the Insurer notifies the Administrator of such downgrade.
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BBB-/Baa3 Manufacturer means, as of any day, each Eligible Manufacturer of a Program Vehicle that has a long-term unsecured debt rating of at least “Baa3” from Moody’s and at least “BBB-” from Standard & Poor’s, but which does not have a long-term unsecured debt rating of at least “Baa2” from Moody’s and at least “BBB” from Standard &Poor’s; provided that if an Eligible Manufacturer does not have a rating from Moody’s or Standard & Poor’s, then the rating of the entity specified by the Rating Agencies shall apply for purposes of this definition; provided, further, that if (a) a Manufacturer is downgraded by a Rating Agency to a rating that would require inclusion of such Manufacturer in this definition, then for purposes of this definition and each instance in which this definition is used in this Supplement, then such Manufacturer shall be deemed to be rated “Baa2” or “BBB”, as applicable, by the Rating Agency that downgraded such Manufacturer for a period of 30 days following the earlier of (i) the date on which any of the Issuer or the Master Servicer obtains actual knowledge of such downgrade and (ii) the date on which the Trustee or the Series 2006-1 Insurer notifies the Master Servicer of such downgrade or (b) the rating of a Manufacturer by Moody’s or Standard & Poor’s is withdrawn by such Rating Agency and, prior to such withdrawal, such Manufacturer was rated at least “Baa3” or “BBB-”, as applicable, by such Rating Agency, but not rated at least “Baa2” or “BBB”, as applicable, by such Rating Agency, then such Manufacturer shall be deemed to be rated “Baa3” or “BBB-”, as applicable, by the Rating Agency that withdrew the rating of such Manufacturer for a period of 30 days following the earlier of (i) the date on which any of the Issuer or the Master Servicer obtains actual knowledge of such withdrawal and (ii) the date on which the Trustee or the Series 2006-1 Insurer notifies the Master Servicer of such withdrawal.
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Related to BBB-/Baa3 Manufacturer

  • Original manufacturer means the original component manufacturer, the original equipment manufacturer, or the contract manufacturer.

  • Engine Manufacturer means CFM International, Inc.

  • Product Manufacturer means the entity that assembles the component parts to manufacture the final Product;

  • Contract Manufacturer means a company that produces goods under contract for another company under the label or brand name of that company.

  • Manufacturer means the person or body who is responsible to the approval authority for all aspects of the type approval process and for ensuring conformity of production. It is not essential that the person or body is directly involved in all stage of the construction of the vehicle, system, component or separate technical unit which is the subject of the approval process.

  • Satellite Manufacturer means, with respect to any Satellite, the prime contractor and manufacturer of such Satellite.

  • Original component manufacturer means an organization that designs and/or engineers a part and is entitled to any intellectual property rights to that part.

  • Third Party Manufacturer means any person, firm or company which carries out the reproduction of Work and/or manufactures and/or prints the Licensed Publication on behalf of the Licensee;

  • Motor vehicle manufacturer means a person that:

  • Authorized aftermarket manufacturer means an organization that fabricates a part under a contract with, or with the express written authority of, the original component manufacturer based on the original component manufacturer’s designs, formulas and/or specifications.

  • Tobacco product manufacturer means an entity that after the date of enactment of this Act directly (and not exclusively through any affiliate):

  • Original equipment manufacturer means a company that manufactures products that it has designed from purchased components and sells those products under the company's brand name.

  • Successor manufacturer means a manufacturer that acquires, succeeds to, or assumes any part of the business of another manufacturer as the result of any of the following:

  • Participating manufacturer means that term as defined in the master settlement agreement.

  • Nonparticipating manufacturer means any tobacco product manufacturer that is not a participating manufacturer.

  • Modular building manufacturer means a person or corporation who owns or operates a

  • MANUFACTURERS means M/s and shall include their legal representatives, successors, and assigns.

  • Non-Participating Manufacturer means any Tobacco Product Manufacturer that is not a Participating Manufacturer.

  • Remanufactured means factory rebuilt to original specifications. "Virgin material" means—

  • Third Party Originating Carrier means a Telecommunications Carrier that originates Transit Traffic that transits AT&T-TSP’s network and is delivered to CLEC.

  • Locally manufactured goods means goods whose value, either in whole or in part, is derived from growing, producing, processing, assembling, or manufacturing activities that occur within a city-based manufacturer's facility located within the city.

  • Manufactured good means a good brought to the construction site for incorporation into the building or work that has been--

  • Medical marijuana product means a product that contains cannabinoids that have been extracted from plant material or the resin therefrom by physical or chemical means and is intended for administration to a licensed patient, including but not limited to concentrates, oils, tinctures, edibles, pills, topical forms, gels, creams, and other derivative forms, except that this term does not include live plant forms.

  • Medical equipment supplier means any person, as defined in § 1-230, engaged in the delivery to the ultimate consumer, pursuant to the lawful order of a practitioner, of hypodermic syringes and needles, medicinal oxygen, Schedule VI controlled devices, those Schedule VI controlled substances with no medicinal properties that are used for the operation and cleaning of medical equipment, solutions for peritoneal dialysis, and sterile water or saline for irrigation.

  • Manufacturing Facility means buildings and structures, including machinery and equipment, the primary purpose of which is or will be the manufacture of tangible goods or materials or the processing of such goods or materials by physical or chemical change.

  • Drug sample means a unit of a prescription drug that is not intended to be sold and is intended to promote the sale of the drug.