Commercial Paper Rating definition

Commercial Paper Rating means, as of any date, the lowest rating that has been most recently announced by any of S&P and ▇▇▇▇▇’▇, as the case may be, for short-term public unsecured debt issued by the Borrower. For purposes of the foregoing, (a) if any rating established by S&P or ▇▇▇▇▇’▇ shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (b) if S&P or ▇▇▇▇▇’▇ shall change the basis on which ratings are established, each reference to the Commercial Paper Rating announced by S&P or ▇▇▇▇▇’▇, as the case may be, shall refer to the then equivalent rating by S&P or ▇▇▇▇▇’▇, as the case may be.
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Commercial Paper Rating means, as of any date, the lowest rating that has been most recently announced by either S&P or Moody's, as the case may be, for short term public unsecured senior debt issued by the Borrower. For purposes of the foregoing, (a) if any rating established by S&P or Moody's shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (b) if S&P or Moody's shall change the basis on which ratings are established, each reference to the Commercial Paper Rating announced by S&P or Moody's, as the case may be, shall refer to the then equivalent rating by S&P or Moody's, as the case may be.
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Commercial Paper Rating means the then most recent rating assigned by Standard & Poor's or Moody's to the Borrower's commercial paper.
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Examples of Commercial Paper Rating in a sentence

  • If, at any time, the Commercial Paper Rating assigned to the Borrower by Mood▇'▇ ▇▇ at a different level from the Commercial Paper Rating assigned to the Borrower by Standard & Poor's (e.g., a Mood▇'▇ ▇▇▇ing of P1 and a Standard & Poor's rating of A3), the Commercial Paper Rating which results in a lower Eurodollar Margin shall apply (e.g., the Mood▇'▇ ▇▇▇ing of P1, in the example above).

  • The Applicable Margin shall be adjusted on the earlier of the date of announcement or the date of publication by the respective rating agencies of a change in the Commercial Paper Rating or, in the absence of such announcement or publication, on the effective date of such changed Commercial Paper Rating (the "Adjustment Date"), and shall apply to all outstanding Eurocurrency Committed Advances and the facility fees from and after such Adjustment Date to the next Adjustment Date.

  • In the event that the Borrower shall at any time cease to have a Long Term Debt Rating or a Commercial Paper Rating, Level IV shall apply.

  • The Level shall be based on the applicable Commercial Paper Rating.

  • If, at any time, the Commercial Paper Rating assigned to the Borrower by Mood▇'▇ ▇▇ at a different level from the Commercial Paper Rating assigned to the Borrower by Standard & Poor's (e.g., a Mood▇'▇ ▇▇▇ing of P1 and a Standard & Poor's rating of A3), the Commercial Paper Rating which results in a lower facility fee rate shall apply (e.g., the Mood▇'▇ ▇▇▇ing of P1, in the example above).


More Definitions of Commercial Paper Rating

Commercial Paper Rating is defined in Section 2.3.4.
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Commercial Paper Rating means, as of any date, the lowest rating that has been most recently announced by any of S&P, ▇▇▇▇▇’▇ and Fitch, as the case may be, for short-term public unsecured debt issued by the Borrower. For purposes of the foregoing, (a) if any rating established by S&P, ▇▇▇▇▇’▇ or Fitch shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (b) if S&P, ▇▇▇▇▇’▇ or Fitch shall change the basis on which ratings are established, each reference to the Commercial Paper Rating announced by S&P, ▇▇▇▇▇’▇ or Fitch, as the case may be, shall refer to the then equivalent rating by S&P, ▇▇▇▇▇’▇ or Fitch, as the case may be.
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