Equivalent Financial Standing definition
Equivalent Financial Standing means a Person having a rating assigned to outstanding unsecured, unsupported long term debt from Moody's Investors Service of at least A3 or from Standard & Poor'▇ ▇▇▇▇oration of at least A- or an equivalent rating from at least one nationally-recognized statistical rating agency, after giving effect to the sale or transfer to such Person of all or substantially all of the Subject Interests and the assumption by such Person of all of Grantor's obligations under this Conveyance.
Equivalent Financial Standing means a Person having a rating assigned to outstanding unsecured, unsupported long term debt from Moody's Investors Service of at least A3 or from ▇▇▇▇▇▇▇d & Poor's Corporation of at least A- or an equivalent rating from at least one nationally-recognized statistical rating organization (after giving effect to the sale or transfer to such Person of all or substantial all of the Company's working interest in the PBU a the assumption by such Person of all of the Company's obligations under the Conveyance and of all of BP's obligations hereunder). "PBU" means the Prudhoe Bay Unit, as defined in the Conveyance. "Person" means any individual, corporation, partnership, trust, estate or other entity, organization or association. "Royalty Interests" means the Initial Royalty Interest and any Additional Royalty Interests (in each case as defined in the Royalty Trust Agreement) conveyed to the Trust pursuant to the Initial Conveyance or any Additional Conveyance (in each case as defined in the Royalty Trust Agreement.)
Equivalent Financial Standing means a Person having a rating assigned to outstanding unsecured, unsupported long term debt from M▇▇▇▇’▇ Investors Service of at least A3 or from Standard & Poor’s Corporation of at least A- or an equivalent rating from at least one nationally-recognized statistical rating organization (after giving effect to the sale or transfer to such Person of all or substantial all of the Company’s working interest in the PBU a the assumption by such Person of all of the Company’s obligations under the Conveyance and of all of BP’s obligations hereunder).
More Definitions of Equivalent Financial Standing
Equivalent Financial Standing means a Person having a rating assigned to outstanding unsecured, unsupported long term debt from Moody's Investors Service of at least A3 or from Standard & Poor's Corporation of at least A- or an equivalent rating from at least one nationally-recognized statistical rating organization (after giving effect to the sale or transfer to such Person of all or substantial all of the Company's working interest in the PBU a the assumption by such Person of all of the Company's obligations under the Conveyance and of all of BP's obligations hereunder).