Effective Date Ratings Confirmation Failure means the failure (i) to obtain Rating Agency Confirmation from S&P or (ii) either (A) to satisfy the Effective Date Moody's Condition or (B) to obtain Rating Agency Confirmation from Moody's, in each case as of the first Determination Date; provided that
Effective Date Ratings Confirmation Failure means the failure either (A) to satisfy the Effective Date Moody's Condition or (B) to obtain Rating Agency Confirmation from Moody's, in each case as of the second Determination Date.
Effective Date Ratings Confirmation Failure means the failure (i) to obtain Rating Agency Confirmation from S&P or (ii) either (A) to satisfy the Effective Date Moody’s Condition or (B) to obtain Rating Agency Confirmation from Moody’s, in each case as of the first Determination Date following the Closing Date; provided that with respect to clause (i), if, as of the first Determination Date following the Closing Date: (I) the Asset Manager has delivered to S&P a request for Effective Date Ratings Confirmation (together with all schedules, certificates, opinions and documents required by this Indenture and otherwise required in connection therewith) no later than the 30th Business Day prior to the first Determination Date following the Closing Date, (II) S&P has not provided Rating Agency Confirmation other than as a result of its determination that it will not grant such Rating Agency Confirmation and (III) S&P has not notified the Issuer or the Asset Manager of any such determination that it will not grant such Rating Agency Confirmation, then such failure to obtain Rating Agency Confirmation from S&P as of the first Determination Date following the Closing Date shall not cause an EffectiveDate Ratings Confirmation Failure unless and until, as of the second Determination Date following the Closing Date, the Issuer has failed to obtain such Rating Agency Confirmation from S&P.
Examples of Effective Date Ratings Confirmation Failure in a sentence
A restriction that will be satisfied if (a) the sum of the deposits from the Unused Proceeds Account and Principal Proceeds designated as Interest Proceeds pursuant to clause (ix) of the definition of “Interest Proceeds” does not exceed 1.0% of the Effective Date Target Par Amount and (b) the Effective Date Condition is satisfied prior to and after giving effect to such deposits and no Effective Date Ratings Confirmation Failure has occurred and is continuing.
More Definitions of Effective Date Ratings Confirmation Failure
Effective Date Ratings Confirmation Failure. Both (i) the Standard & Poor’s Effective Date Deemed Rating Confirmation has not occurred and (ii) the failure to obtain Effective Date Ratings Confirmation within 30 days of the Effective Date.
Effective Date Ratings Confirmation Failure means the following have both occurred: (A) failure to satisfy the Effective Date Condition and (B) failure to obtain Rating Agency Confirmation from Moody's, in each case as of the [second] Determination Date following the Amendment Date.
Effective Date Ratings Confirmation Failure. The meaning specified in Section 7.17(d).
Effective Date Ratings Confirmation Failure means the failure (i) to obtain Rating Agency Confirmation from S&P or (ii) to obtain Rating Agency Confirmation from Moody’s and to satisfy the conditions set forth in the proviso to the definition of “Effective Date Ratings Confirmation,” in each case as of the first Determination Date following the Closing Date; provided that
Effective Date Ratings Confirmation Failure means the failure to obtain Effective Date Ratings Confirmation as of the second Determination Date after the Closing Date.