Fitch Eligible Replacement definition
Fitch Eligible Replacement means an entity who has at least the Supported Minimum Counterparty Ratings or such Transferee's obligations under this Agreement are guaranteed by an entity (that is a Fitch Eligible Guarantor) who has at least the Supported Minimum Counterparty Ratings. For the purposes of this Agreement, "Unsupported Minimum Counterparty Ratings" and "Supported Minimum Counterparty Ratings" shall mean the long-term issuer default ratings, the short-term issuer default ratings or, if assigned, the derivative counterparty ratings (as applicable) from Fitch corresponding to the then-current rating of the Relevant Notes by Fitch as set out in the following table: AAAsf A or F1 BBB- or F3 BBB+ or F2 AA+sf, AAsf, AA- sf A- or F1 BBB- or F3 BBB+ or F2 A+sf, Asf, A-sf BBB or F2 BB+ BBB or F2 BBB+sf, BBBsf, BBB-sf BBB- or F3 BB- BBB- or F3 BB+sf, BBsf, BB- sf At least as high as the Relevant Notes Fitch rating B+ BB- B+sf or below or Relevant Notes are not rated by Fitch At least as high as the Relevant Notes Fitch rating B- B- The "Supported Minimum Counterparty Ratings" in column 3 shall apply in respect of Party A as at the date of this Agreement. If an entity is not incorporated in the same jurisdiction as Party A, and following a request from Fitch has not provided to Fitch a legal opinion, in a form acceptable to Fitch, confirming the enforceability of the subordination provisions against it in its jurisdiction, references in this Agreement to "Supported Minimum Counterparty Ratings" shall be deemed to refer to "Supported Minimum Counterparty Ratings (adjusted)" in respect of such entity. For the purposes of the above table, if such Relevant Notes are downgraded by Fitch as a result of Party A's failure to perform any obligation under this Agreement, then the then current rating of such Relevant Notes will be deemed to be the rating such Relevant Notes would have had but for such failure.
Fitch Eligible Replacement means an entity who has at least the Supported Minimum Counterparty Ratings or such Transferee's obligations under this Agreement are guaranteed by an entity (that is a Fitch Eligible Guarantor) who has at least the Supported Minimum Counterparty Ratings. For the purposes of this Agreement, "Unsupported Minimum Counterparty Ratings" and "Supported Minimum Counterparty Ratings" shall mean the long-term issuer default ratings, the short-term issuer default ratings or, if assigned, the derivative counterparty ratings (as applicable) from Fitch corresponding to the then-current rating of the Relevant Notes by Fitch as set out in the following table:
Fitch Eligible Replacement means an entity which holds a credit rating of at least the Fitch Prescribed Ratings during a Fitch Ratings Period.
More Definitions of Fitch Eligible Replacement
Fitch Eligible Replacement means an entity that is, or whose obligations are guaranteed by, a Fitch Eligible Counterparty.