Effective Date Ratings Confirmation Failure definition

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.
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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.
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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
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Examples of Effective Date Ratings Confirmation Failure in a sentence

  • During the Reinvestment Period, payments of principal on the Notes will not be made except in connection with (a) an Optional Redemption, (b) a mandatory redemption, (c) a Refinancing, (d) an Effective Date Ratings Confirmation Failure, (e) a Special Redemption and (f) at the option of the Collateral Manager, if the Interest Reinvestment Test is not satisfied.

  • If an Effective Date Ratings Confirmation Failure occurs, the Issuer will apply certain Interest Proceeds and Principal Proceeds, including Unused Proceeds, to pay principal of the Rated Notes in accordance with the Priority of Payments.

  • If an Effective Date Ratings Confirmation Failure occurs, all funds then held in the Unused Proceeds Account will be applied as Principal Proceeds on the next and succeeding Payment Dates to the extent required for such ratings to be reinstated.

  • This change in narrative and policy focus allowed policymakers to overcome the ‘ultima ratio’ doctrine and brought back the so-called ‘community method’.19CEPR POLICY INSIGHT No. 126The second element of the benign coincidence was favourable electoral cycles.

  • For example, an employee may tell you that someone slipped amphetamines into his or her drink at a party, that he or she unknowingly ingested a marijuana brownie, or that he or she traveled in a closed car with several people smoking crack.

  • If, on or prior to the first Determination Date following the Effective Date Cut-Off, an Effective Date Ratings Confirmation Failure occurs, the Issuer and the Collateral Manager on its behalf will be required to take the steps set forth in Section 7.18 of the Indenture.

  • On any Distribution Date commencing on the First Full Distribution Date, if any Coverage Test is not satisfied as of any Determination Date or in the event a Continuing Effective Date Ratings Confirmation Failure has occurred and is continuing, cash flows otherwise payable to Lower Ranking Classes of Securities will be diverted to the payment of principal on Higher Ranking Classes of Rated Notes as set forth in the Priority of Payments.


More Definitions of Effective Date Ratings Confirmation Failure

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.
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Effective Date Ratings Confirmation Failure. The meaning specified in Section 7.17(d).
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Effective Date Ratings Confirmation Failure means the failure to obtain Effective Date Ratings Confirmation as of the second Determination Date after the Closing Date.
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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
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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.
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Related to Effective Date Ratings Confirmation Failure

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of “BBB+”.

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

  • S&P Approved Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a short-term unsecured and unsubordinated debt rating from S&P of “A-1”, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “A+”.

  • Approved Ratings Threshold means each of the S&P Approved Ratings Threshold and the Moody’s First Trigger Ratings Threshold.

  • Ratings Event means (i) a downgrade by one or more gradations (including gradations within ratings categories as well as between rating categories) or withdrawal of the rating of the Notes within the Ratings Decline Period by one or more Rating Agencies (unless the applicable Rating Agency shall have put forth a written statement to the effect that such downgrade or withdrawal is not attributable in whole or in part to the applicable Change of Control) and (ii) the Notes do not have an Investment Grade Rating from any Rating Agency.

  • Specified Rating Agencies means each of Moody’s, S&P and DBRS as long as, in each case, it has not ceased to rate the Notes or failed to make a rating of the Notes publicly available for reasons outside of the Issuer’s control; provided that if one or more of Moody’s, S&P or DBRS ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, the Issuer may select any other “designated rating organization” within the meaning of National Instrument 41-101 of the Canadian Securities Administrators as a replacement agency for such one or more of them, as the case may be.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower's senior unsecured long-term debt securities without third-party credit enhancement.

  • Ratings Decline means the occurrence of the following on, or within 90 days after, the date of the public notice of the occurrence of a Change of Control or of the intention by the Company or any third-party to effect a Change of Control (which period shall be extended for so long as the rating of the securities is under publicly announced consideration for possible downgrade by any of the Ratings Agencies if such period exceeds 90 days): (1) in the event that the Securities have an Investment Grade Rating by all three Ratings Agencies, the Securities cease to have an Investment Grade Rating by two of the three Rating Agencies, (2) in the event that the Securities have an Investment Grade Rating by only two Ratings Agencies, the Securities cease to have an Investment Grade Rating by both such Rating Agencies, or (3) in the event that the Securities do not have an Investment Grade Rating, the rating of the Securities by two of the three Ratings Agencies (or if there are less than three Rating Agencies rating the securities, the rating of each Rating Agency) decreases by one or more gradations (including gradations within ratings categories as well as between rating categories) or is withdrawn.

  • Credit Support Amount has the meaning specified in Paragraph 3.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.