Corporate Ratings definition

Corporate Ratings means (i) the Borrower’s corporate credit rating from S&P and (ii) the Borrower’s corporate family rating from ▇▇▇▇▇’▇, or, in each case, an equivalent rating by any other Rating Agency.

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Corporate Ratings means (i) the Parent Entity’s or the U.S. Parent Borrower’s corporate credit rating from S&P and (ii) the Parent Entity’s or the U.S. Parent Borrower’s corporate family rating from Moody’s, or, in each case, an equivalent rating by any other Rating Agency; provided that, in each case, if there are ratings in effect for both the Parent Entity and the U.S. Parent Borrower from a single Rating Agency, then the “Corporate Ratings” from such Rating Agency shall be based on the lower rating.

Corporate Ratings means (i) the Parent Entity’s or the U.S. Parent Borrower’s corporate credit rating from S&P and (ii) the Parent Entity’s or the U.S. Parent Borrower’s corporate family rating from ▇▇▇▇▇’▇, or, in each case, an equivalent rating by any other Rating Agency; provided that, in each case, if there are ratings in effect for both the Parent Entity and the U.S. Parent Borrower from a single Rating Agency, then the “Corporate Ratings” from such Rating Agency shall be based on the lower rating.

Examples of Corporate Ratings in a sentence

The Borrowers shall use commercially reasonable efforts to maintain (i) Corporate Ratings and (ii) a public rating in respect of the Term Loans from each of S&P and ▇▇▇▇▇’▇.
Notwithstanding any other provisions of the Loan Documents, the Liens on and security interests in the Collateral shall be automatically released, and the Group Members shall have no obligation to create or perfect Liens on and security interests in the Collateral at any time both (x) the Corporate Ratings are at least BBB- (stable) from S&P or Baa3 (stable) from ▇▇▇▇▇’▇ and (y) the Liens on and security interests in the Collateral permitted by paragraph (v) of Section 7.3 are released.
Parent shall use commercially reasonable efforts to maintain the Corporate Ratings and shall promptly notify the Administrative Agent in writing of any change in the Corporate Ratings.
The Borrower shall use commercially reasonable efforts to maintain the Corporate Ratings and shall promptly notify the Facility Agent in writing of any change in the Corporate Ratings.
Receipt by the Administrative Agent of Corporate Ratings for the Borrower and Debt Ratings for the Loans and Credit Extensions hereunder from S&P and M▇▇▇▇’▇ after giving effect to the initial Loans and Credit Extensions and the transactions contemplated in connection therewith.

More Definitions of Corporate Ratings

Corporate Ratings mean the ratings for the senior, unsecured, long-term indebtedness for borrowed money of the Parent Entity (or Parent if such Parent Entity is not then rated) (“Index Debt”) from S&P and ▇▇▇▇▇’▇, or, in each case, an equivalent rating by any other Rating Agency.

Corporate Ratings means the corporate rating of Parent by S&P and the corporate family rating of Parent by ▇▇▇▇▇’▇.

Corporate Ratings means the Borrower Agent’s or Holdings’, as applicable, long-term senior unsecured non-credit enhanced rating from the Ratings Agencies.

Corporate Ratings means, as of any date of determination, the Borrower’s (a) corporate rating as determined by S&P and (b) corporate family rating as determined by ▇▇▇▇▇’▇, in each case as in effect as of such date.

Corporate Ratings means (i) the Company’s corporate credit rating from S&P and (ii) the Company’s corporate family rating from Moody’s, or, in the event that S&P or Moody’s ceases to provide rating services to borrowers or investors, an equivalent rating by any other Rating Agency.

Corporate Ratings has the meaning specified in Section 3.01(m).

Corporate Ratings means the Borrower Agent’s or Holdings’, as applicable, long-term senior unsecured non-credit enhanced rating from the Ratings Agencies. “Credit Extension” means each Borrowing and each L/C Credit Extension. “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, examinership, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect. “Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. “Default Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that with respect to a LIBOR Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate plus 2% per annum. “Defaulting Lender” means, subject to Section 2.16(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower Agent in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, the L/C Issuer, the Swing Line Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swing Line Loans) within two Business Days of the date when due, (b) has notified the Borrower Agent, the Administrative Agent, the L/C Issuer or the Swing Line Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states tha...