Credit Requirements definition

Credit Requirements means a senior, unsecured long term debt rating (or corporate rating if such debt rating is unavailable) of (a) BBB or greater from S&P, or (b) Baa2 or greater from ▇▇▇▇▇'▇, and if such ratings are split, the lower of the two ratings must be at least BBB or Baa2 from S&P or ▇▇▇▇▇’▇, respectively.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Credit Requirements means a long-term credit rating (corporate or long-term senior unsecured debt) of (1) “Baa3” or greater by ▇▇▇▇▇’▇, or (2) “BBB-” or greater by S&P, or such other indicia of creditworthiness acceptable to PacifiCorp in its reasonable judgment.

Credit Requirements means, with respect to any Person, that such Person has at least one of the following Credit Ratings: (a) “Baa2” or higher from ▇▇▇▇▇’▇, (b) “BBB” or higher from S&P or (c) “BBB” or higher from Fitch.

Examples of Credit Requirements in a sentence

• If at any time after the Commercial Operation Date a Security Provider fails to satisfy the Credit Requirements, then within ten (10) Business Days after the earlier of Seller’s receipt of notice from (i) any source that the Security Provider no longer satisfies the Credit Requirements or (ii) PacifiCorp requesting the posting of alternate Default Security, Seller must provide to PacifiCorp and thereafter maintain in accordance with this Section 8, alternate Default Security.

• If on the Commercial Operation Date or at any time thereafter during the Term Seller fails to satisfy the Credit Requirements, then within ten (10) Business Days after the earlier of Seller’s receipt of notice from (a) any source that Seller no longer satisfies the Credit Requirements or (b) PacifiCorp requesting the posting of Default Security, Seller must provide to PacifiCorp and thereafter maintain in accordance with this Section 8, Default Security.

• If on the Execution Date Seller fails to satisfy the Credit Requirements, then no later than five (5) Business Days after the Execution Date Seller must provide to PacifiCorp and thereafter maintain in accordance with this Section 8 Project Development Security.

• If on the Execution Date, Seller fails to satisfy the Credit Requirements, then no later than five (5) Business Days after the Execution Date, Seller must provide to PacifiCorp and thereafter maintain in accordance with this Section 8 Project Development Security.

• If on the Execution Date, PacifiCorp determines Seller satisfies the Credit Requirements, then Seller must thereafter provide every three (3) months following the Execution Date all such financial information and records as PacifiCorp may reasonably request in order to verify Seller continues to satisfy the Credit Requirements.

More Definitions of Credit Requirements

Credit Requirements means, with respect to any Person, either (a) meeting or exceeding the Ratings Limit, or (b) issuing or posting, or having caused to be issued or posted, the applicable Credit Support.

Credit Requirements means a long-term credit rating (corporate or long-term senior unsecured debt) of (1) “Baa3” or greater by Moody’s, or (2) “BBB-” or greater by S&P, or such other indicia of creditworthiness acceptable to PacifiCorp in its reasonable judgment.

Credit Requirements means a senior, unsecured long term debt rating (or corporate rating if such debt rating is unavailable) of (a) BBB+ or greater from S&P, or (b) Baa1 or greater from ▇▇▇▇▇'▇, and if such ratings are split, the lower of the two ratings must be at least ‘BBB+’ or ‘Baa1’ from S&P or ▇▇▇▇▇’▇, respectively; provided that if (a) or (b) is not available, an equivalent rating as determined by PacifiCorp through an internal process review and utilizing a proprietary credit scoring model developed in conjunction with a third party.

Credit Requirements means both the Project Development Security pursuant to Section 8.1 and the Default Security pursuant to Section 8.2 required to be posted by Seller in accordance with those provisions.

Credit Requirements means a senior, unsecured long term debt rating (or corporate rating if such debt rating is unavailable) of (a) BBB+ or greater from S&P, or (b) Baa1 or greater from Moody's, and if such ratings are split, the lower of the two ratings must be at least ‘BBB+’ or ‘Baa1’ from S&P or Moody’s, respectively; provided that if (a) or (b) is not available, an equivalent rating as determined by PacifiCorp through an internal process review and utilizing a proprietary credit scoring model developed in conjunction with a third party.

Credit Requirements means: (a) in the case of Seller and a Qualifying Person, Seller or such Qualifying Person has a senior, unsecured long term debt rating (or corporate rating if such debt rating is unavailable) of: (i) ‘BBB+’ or greater from S&P; or (ii) ‘Baa1’ or greater form Moody’s; provided that if such ratings are split, the lower of the two ratings must be at least ‘BBB+’ from S&P or ‘Baa1’ from Moody’s; provided further that if (i) or (ii) is not available, an equivalent rating as determined by PacifiCorp through an internal process review and utilizing a proprietary credit scoring model developed in conjunction with a third party; and (b) in the case of a Qualifying Institution, such Qualifying Institution has a credit rating on its long-term senior unsecured debt of at least ‘A’ from S&P and ‘A2’ from Moody’s.

Credit Requirements means a senior, unsecured long term debt rating (or corporate rating if such debt rating is unavailable) of (a) ‘BBB+’ or greater from S&P, or (b) ‘Baa1’ or greater form Moody’s; provided that if such ratings are split, the lower of the two