Credit FAQ definition

Credit FAQ. Anatomy of A Credit Estimate: What It Means And How We Do It”, dated January 14, 2021 (as the same may be amended or updated from time to time); and (v) with respect to a Current Pay Obligation, the S&P Rating of such Collateral Obligation will be the higher of its issue rating and “CCC”; provided, that for purposes of the determination of the S&P Rating, (x) if the applicable rating assigned by S&P to an obligor or its obligations is on “credit watch positive” by S&P, such rating will be treated as being one subcategory above such assigned rating and (y) if the applicable rating assigned by S&P to an obligor or its obligations is on “credit watch negative” by S&P, such rating will be treated as being one subcategory below such assigned rating. “S&P Rating Condition”: With respect to any action taken or to be taken by or on behalf of the Issuer, a condition that is satisfied if S&P has specifically confirmed in writing, including by electronic messages, facsimile, press release or posting to its internet website (or has declined to undertake the review of such action by such means), to the Issuer, the Trustee or the Collateral Manager that no immediate withdrawal or reduction with respect to its then current rating of any Class of Secured Debt will occur as a result of such action; provided that, notwithstanding the foregoing, with respect to any event or circumstance that requires satisfaction of the S&P Rating Condition, such S&P Rating Condition shall be deemed inapplicable if no Class of Secured Debt then rated by S&P are then Outstanding; provided, further, that such rating condition shall be deemed inapplicable with respect to such event or circumstance if (i) S&P has given written notice to the effect that it will no longer review events or circumstances of the type requiring satisfaction of the S&P Rating Condition for purposes of evaluating whether to confirm the then-current ratings (or initial ratings) of obligations rated by S&P; or (ii) S&P has given written notice to the Issuer, the Collateral Manager or the Trustee (or their counsel) that it will not review such event or circumstance for purposes of evaluating whether to confirm the then-current ratings (or initial ratings) of the Debt then rated by S&P.
Sample 1
Credit FAQ. Anatomy Of A Credit Estimate: What It Means And How We Do It” dated January 14, 2021 and any other available information S&P reasonably requests in order to produce a credit estimate for a particular asset.
Sample 1Sample 2Sample 3
Credit FAQ. Anatomy Of A Credit Estimate: What It Means And How We Do It" dated January 14, 2021 and any other available information S&P reasonably requests in order to produce a credit estimate for a particular asset. "Information Agent": The meaning specified in Section 14.17(a) (17g-5 Information). "Information Agent Address": The meaning specified in Section 14.3(e)(ii) (Notices, etc., to Collateral Trustee, the Loan Agent, the Issuers, the Collateral Manager, the Initial Purchaser, the Collateral Administrator, the Paying Agent, each Hedge Counterparty and the Rating Agency). "Initial Interest Coverage Test Date": The Determination Date with respect to the second Payment Date after the 2024 Closing Date. "Initial Purchaser": BNP Paribas Securities Corp, as initial purchaser of certain Debt. "Initial Rating": With respect to the Secured Debt, the rating or ratings, if any, indicated in Section 2.3(b) (Authorized Amount; Stated Maturity; Denominations). "Initial Target Rating": With respect to any Class or Classes of Outstanding Secured Debt, the applicable rating specified in the table below: Class Initial Target S&P Rating A-1 "AAA(sf)" A-2 "AA(sf)" B "A(sf)" C "BBB-(sf)" "Institutional Accredited Investor": An Accredited Investor under clauses (1), (2), (3) or (7) of Rule 501(a) under the Securities Act. "Instrument": The meaning specified in Section 9-102(a)(47) of the UCC. "Interest Accrual Period": (i) With respect to the initial Payment Date (or, in the case of a Class that is subject to a Refinancing or Re-Pricing or Debt issued or incurred, as applicable, in connection with an additional issuance or incurrence, in each case, on a Business Day other than a Payment Date, the first Payment Date following the Re-Pricing Date or the Redemption Date), the period from and including the 2024 Closing Date (or in the case of (x) a Refinancing on a Business Day other than a Payment Date, the Redemption Date related to such Refinancing, (y) a Re-Pricing on a Business Day other than a Payment Date, the Re-Pricing Date of such Re-Pricing and (z) an additional issuance or incurrence on a Business Day other than a Payment Date, the date of such additional issuance or incurrence ) to but excluding such Payment
Sample 1

Examples of Credit FAQ in a sentence

  • S&P’s "Credit FAQ: What Are Credit Estimates And How Do They Differ From Ratings?" dated April 6, 2011, as such guidelines may be amended supplemented, or updated after the date hereof and any other available information S&P reasonably requests in order to produce a credit estimate for a particular asset.

  • S&P’'s "Credit FAQ: What Are Credit Estimates And How Do They Differ From Ratings?" dated April 6, 2011, as such guidelines may be amended supplemented, or updated after the date hereof and any other available information S&P reasonably requests in order to produce a credit estimate for a particular asset.

  • The 2011 S&P Credit Estimates Publication and related Credit FAQ: What Are Credit Estimates and How Do They Differ From Ratings?, dated as of April 6, 2011.

  • S&P's "Credit FAQ: Anatomy Of A Credit Estimate Information Requirements: What It Means And How We Do It" dated April 2011January 14, 2021 and any other available information S&P reasonably requests in order to produce a credit estimate for a particular asset.

  • Interruption-Coverage-Could-Wipe-Out-Half-of-Insurers%E2%80%99- Capital (last visited May 24, 2022); Credit FAQ: How COVID-19 Risks Factor Into U.S. Property/Casualty Ratings, S&P Glob.

  • Refer to the Transfer Credit FAQ for additional information on supporting transfer students. For students transferring from another public school in New York State:49 The principal is required to grant transfer credit for all credit awarded by any New York State registered public or nonpublic high school.

  • The Department of Treasury and Finance is therefore required to compromise between accounting 612 Source: Standard & Poor’s, RatingsDirect - Credit FAQ: How Stable Is The Credit Quality Of The Australian States?, 17 March 2009standards and its understanding of ratings age indicators when discussing maintenance of Victoria’s triple-A credit rating.

  • The Owner shall be responsible for the cost of replacing any incorrect signs identified by the Contractor.

  • S&P’'s "Credit FAQ: What Are Credit Estimates And How Do They Differ From Ratings?" dated April 6, 2011, as such guidelines may be amendedsupplemented, or updated after the date hereof and any other available information S&P reasonably requests in order to produce a credit estimate for a particular asset.


More Definitions of Credit FAQ

Credit FAQ. Anatomy Of A Credit Estimate: What It Means And How We Do It?" dated January 14, 2021 (as the same may be amended or updated from time to time);
Sample 1
Credit FAQ. Anatomy of A Credit Estimate: What It Means And How We Do It” dated January 14, 2021 (as the same may be amended or updated from time to time); (iii) with respect to a DIP Collateral Obligation, if the S&P Rating cannot otherwise be determined pursuant to this definition, the S&P Rating of such Collateral Obligation will be “CCC-”; (iv) with respect to a Collateral Obligation that is not a Defaulted Obligation or a Current Pay Obligation, the S&P Rating of such Collateral Obligation will at the election of the Issuer (at the direction of the Collateral Manager) be “CCC-”; provided, that (A) the Collateral Manager expects the Obligor in respect of such Collateral Obligation to continue to meet its payment obligations under such Collateral Obligation, (B) neither the issuer of such Collateral Obligation nor any of its Affiliates are subject to any bankruptcy or reorganization proceedings, (C) the issuer has not defaulted on any payment obligation in respect of any debt security or other obligation of the issuer at any time within the two year period ending on such date of determination, (D) all such
Sample 1
Credit FAQ. Anatomy of A Credit Estimate: What It Means And How We Do It”, dated January 14, 2021 (as the same may be amended or updated from time to time); and (d) with respect to a Current Pay Obligation, the S&P Rating of such Collateral Obligation will be the higher of its issue rating and “CCC”; provided, that for purposes of the determination of the S&P Rating, (x) if the applicable rating assigned by S&P to an obligor or its obligations is on “credit watch positive” by S&P, such rating will be treated as being one subcategory above such assigned rating and (y) if the applicable rating assigned by S&P to an obligor or its obligations is on “credit watch negative” by S&P, such rating will be treated as being one subcategory below such assigned rating. “S&P Rating Condition”: With respect to any action taken or to be taken by or on behalf of the Issuer, a condition that is satisfied if S&P has specifically confirmed in writing, including by electronic messages, facsimile, press release or posting to its internet website (or has
Sample 1

Related to Credit FAQ

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Credit Facilities means one or more debt facilities (including the Credit Agreement) or commercial paper facilities providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to lenders or to special purpose entities formed to borrow from lenders against such receivables) or letters of credit, or any debt securities or other form of debt financing (including convertible or exchangeable debt instruments), in each case, as amended, supplemented, modified, extended, renewed, restated or refunded in whole or in part from time to time.

  • Existing Credit Facility means the credit facility evidenced by that certain Credit Agreement, dated as of March 25, 2010, among the Borrower, the lenders party thereto, and JPMCB, as administrative agent, as amended.

  • Principal Credit Facility means any loan agreement, credit agreement, note purchase agreement, indenture or similar document under which credit facilities in the aggregate original principal or commitment amount of at least $20,000,000 are provided for.

  • Credit Facility Provider means the issuer of or obligor under a Credit Facility.