Cash Manager Required Ratings definition

Cash Manager Required Ratings means the threshold ratings P-1 or F2 (in respect of Xxxxx’x and Fitch, respectively) or BBB or R-1 (low) (in respect of DBRS) as applicable, of the unsecured, unsubordinated and unguaranteed debt obligations (or, in the case of Fitch, the issuer default rating) of the Cash Manager by the Rating Agencies;
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Cash Manager Required Ratings means the threshold ratings P-2(cr) and F2 (in respect of Xxxxx’x and Fitch, respectively) as applicable, of, in the case of Xxxxx’x, the short term counterparty risk assessment, and in the case of Fitch, the issuer default rating, in each case, of the Cash Manager by the Rating Agencies;
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Cash Manager Required Ratings means the threshold ratings BB(low) or R-2(middle) (in respect of DBRS; provided that, for greater certainty, only one of such ratings from DBRS is required to be at or above such ratings) and BB- or F3 (in respect of Fitch, provided that, for greater certainty, only one of such ratings from Fitch is required to be at or above such ratings), as applicable, of the unsecured, unsubordinated and unguaranteed debt obligations rating (in the case of DBRS) or the issuer default rating (in the case of Fitch), in each case, of the Cash Manager by the Rating Agencies;
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Examples of Cash Manager Required Ratings in a sentence

  • If the Bank is replaced as Cash Manager, then the Guarantor will be obliged to procure that the funds in the Guarantor's accounts deposited with the Bank are transferred to a newly opened account with a replacement Cash Manager that meets the Cash Manager Required Ratings.

  • We note your response to prior comment 15.·Please revise your disclosure under this risk factor to specify the levels contained in the Cash Manager Required Ratings, so that an investor does not have to refer to the glossary to understand the threshold ratings requirements.


More Definitions of Cash Manager Required Ratings

Cash Manager Required Ratings is added to Article 1 of the Master Definitions and Construction Agreement in alphabetical order as follows:
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Cash Manager Required Ratings means the threshold rating of BBB(low) by DBRS of the unsecured, unsubordinated and unguaranteed debt obligations of the Cash Manager;
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Related to Cash Manager Required Ratings

  • Eligible Investment Required Ratings A long-term debt rating of at least “A+” by S&P or a long-term debt rating of at least “A” by S&P and a short-term debt rating of at least “A-1” by S&P.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Investment Grade Credit Rating means (a) with respect to Fitch, a credit rating of BBB- or higher, (b) with respect to Xxxxx’x, a credit rating of Baa3 or higher and (c) with respect to S&P, a credit rating of BBB- or higher.

  • Cash Management Order means an order of the Bankruptcy Court, in form and substance acceptable to the Required Lenders, (i) approving and authorizing the Loan Parties to use existing cash management system, (ii) authorizing and directing banks and financial institutions to honor and process checks and transfers, (iii) authorizing continued use of intercompany transactions, (iv) waiving requirements of Section 345(b) of the Bankruptcy Code and (v) authorizing the Loan Parties to use existing bank accounts and existing business forms.

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Cash Manager means Royal Bank of Canada, in its capacity as cash manager under the Cash Management Agreement together with any successor cash manager appointed from time to time;