Downgrade Notice definition

Downgrade Notice has the meaning specified in Section 2.14(a).

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Downgrade Notice has the meaning set forth in Section 8.3(b).

Downgrade Notice has the meaning specified i▇ ▇▇▇▇▇on 2.14(a).

Examples of Downgrade Notice in a sentence

Pursuant to Section 4.11 of the Servicing Agreement, the Master Servicer shall furnish written notice of the reduction of a relevant applicable rating of an Obligor by a Rating Agency to the Company, the Collateral Agent, the Administrative Agent and each Funding Agent ( the “Rating Downgrade Notice Requirement”).
The Company has requested that the Existing Lender, the Existing Funding Agent, the Collateral Agent and the Administrative Agent waive compliance by the Company and the Originators with the Originator Receivables List Requirements and the Rating Downgrade Notice Requirement for the period prior to the date hereof.
As used in this Trust Agreement, the "TRIGGER DATE" shall mean that date that is the earliest of (x) Lender's receipt of the Downgrade Notice From Surety (or Surety's bad faith in failing to give Lender notice of a Downgrade Surety Default), (y) Lender's receipt of notice from Surety of existence of a Surety Cross-Default (or Surety's bad faith in failing to give Lender notice of a Surety Cross-Default), and (z) notice from Lender or Trustee to Surety of the existence of a Surety Default.

More Definitions of Downgrade Notice

Downgrade Notice means written notice that CGA's claims paying ability rating will be reduced to a level below the Required Company Rating.

Downgrade Notice has the meaning specified in Section 2.02(j)(i).

Downgrade Notice has the meaning specified in Section 3.5(c)(ii).

Downgrade Notice and the Cash Manager shall request a Downgrade Drawing in accordance with Section 3.14(c)(iii), unless (A) the Liquidity Facility Provider under such Downgraded Facility arranges for a Replacement Liquidity Facility Provider to issue and deliver a Replacement Liquidity Facility to the Trustee and Administrative Agent (with a copy to the Security Trustee) within sixty (60) days after the occurrence of such Downgrade Event (but not later than the expiration date of such Downgraded Facility), in which event the Liquidity Facility shall cease to be a Downgraded Facility, or (B) on or before the date fifty (50) days after the occurrence of such Downgrade Event, Standard & Poor’s provides a written confirmation to the Administrative Agent and the Cash Manager that such downgrading, withdrawal or suspension will not result in a downgrading, withdrawal or suspension of any rating then in effect for the Class A Notes or the Class B Notes by Standard & Poor’s. In the event that Standard & Poor’s does not provide the written confirmation contemplated in clause (B) of the preceding sentence within the period after such Downgrade Event specified in clause (B) and no Replacement Liquidity Facility Provider has been arranged in accordance with clause (A) of the preceding sentence, the Liquidity Facility Provider shall notify the Issuer, the Cash Manager and the Trustee that a Downgrade Drawing will be required on the date sixty (60) days after the occurrence of such Downgrade Event (but not later than the expiration date of such Downgraded Facility).