Hedge Counterparty Collateral Threshold Rating definition

Hedge Counterparty Collateral Threshold Rating means, so long as any Certificates are outstanding under the Trust Agreement and are rated by S&P:
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Hedge Counterparty Collateral Threshold Rating. With respect to a person as an issuer or with respect to the debt of such person, as the case may be, (i) with respect to a Person as an issuer or with respect to the long-term senior unsecured debt of such Person, "A" and the short-term debt of such Person is rated at least "F1", in each case by Fitch (for so long as any Notes are Outstanding and are rated by Fitch); (ii) with respect to a Person as an issuer or with respect to the long-term senior unsecured debt of such Xxxxxx, "X0" and not on "watch for downgrade" (and the short-term debt of such Person is rated "P-1" and not on "watch for downgrade") or "Aa3" and not on "watch for downgrade" (if only the long-term debt obligations of such Person are rated by Xxxxx'x) (for so long as any Notes are Outstanding and rated by Xxxxx'x); and (iii) a short-term debt rating of "A-1" by S&P, or, if such Person does not have a short-term debt rating, with respect to such Person as an issuer or with respect to the long-term senior unsecured debt of such Person, "A+" by S&P (for so long as any Notes are Outstanding and are rated by S& P); provided that, should a Rating Agency effect an overall downward adjustment of its short-term or long-term ratings, then the applicable Hedge Counterparty Collateral Threshold Rating shall be downwardly adjusted accordingly; provided, further, that any such adjustment to a rating shall be subject to the prior written consent of the applicable Rating Agency.
Sample 1
Hedge Counterparty Collateral Threshold Rating means, so long as any Certificates are outstanding under the Trust Agreement and are rated by S&P, the applicable "Party A Long-Term Collateral Threshold Rating" as set forth in the following table and determined based upon the applicable "Actual Certificate Rating" and the applicable "Party A Short-Term Collateral Threshold Rating":
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More Definitions of Hedge Counterparty Collateral Threshold Rating

Hedge Counterparty Collateral Threshold Rating means, with respect to a Person as an issuer or with respect to the debt of such Person, as the case may be, such ratings as shall be satisfactory to each Rating Agency as set forth in the Indenture.
Sample 1
Hedge Counterparty Collateral Threshold Rating means, as applicable, (i) with respect to a Person as an issuer or with respect to the long-term senior unsecured debt of such Person, “A1” and not on “Watch For Downgrade” (and the short-term debt of such Person is rated “P-1”and not on “Watch For Downgrade”) or “Aa3” and not on “Watch For Downgrade” (if only the long-term debt obligations of such Person are rated by Moody’s) or such Person or such debt has such ratings but is on “Watch for Downgrade” with respect to any of such ratings by Moody’s (for so long as any Certificates are outstanding under the Pooling and Servicing Agreement and rated by Moody’s); and (ii) a short-term debt rating of “A-1” by S&P, or, if such Person does not have a short-term debt rating, such Person as an issuer or with respect to the long-term senior unsecured debt of such Person has a rating of “A+” in each case, by S&P (for so long as any Certificates are outstanding under the Pooling and Servicing Agreement and are rated by S&P); provided that should a Rating Agency effect an overall downward adjustment of its short-term or long-term ratings, then the applicable Hedge Counterparty Collateral Threshold Rating shall be downwardly adjusted accordingly; provided, further, that any adjustment to a rating shall be subject to the prior written consent of the applicable Rating Agency.
Sample 1
Hedge Counterparty Collateral Threshold Rating. With respect to any Person (a) either (I) a long-term senior unsecured debt rating of “A1” or better by Xxxxx’x (only if the short term debt of such Person is rated “P-1”) or (II) a long-term senior unsecured debt rating of “Aa3” by Xxxxx’x (if such Person does not have a short-term debt rating of “P-1” or above), (b) both (I) a short-term senior unsecured debt rating of “F1” and (II) a long-term senior unsecured debt rating of “A” by Fitch and (c) either (I) a short-term senior unsecured debt rating of “A-1” by S&P or (II) if such person does not have a short-term debt rating by S&P, a long-term senior unsecured debt rating of “A+” by S&P. If the Xxxxx’x or S&P rating for Party A (or Party A’s guarantor) is on watchlist for downgrade, then for purposes of determining compliance with the Hedge Counterparty Collateral Threshold Rating, the Xxxxx’x or S&P rating will be deemed to be the downgraded rating. Should a Rating Agency effect an overall downward adjustment of its short-term or long-term ratings, then the applicable Hedge Counterparty Collateral Threshold Rating shall be downwardly adjusted accordingly; provided, further, that any adjustment to a rating shall be subject to the prior written consent of the applicable Rating Agency.
Sample 1
Hedge Counterparty Collateral Threshold Rating. With respect to a person as an issuer or with respect to the debt of such person, as the case may be, such rating as shall be satisfactory to S&P (for so long as any Class of Notes is Outstanding and is rated by S&P) and Xxxxx’x (for so long as any Class of Notes is Outstanding and is rated by Xxxxx’x) at the time of entering into the applicable Hedge Agreement and as specifically set forth in the related Hedge Agreement; provided that should a Rating Agency effect an overall downward adjustment of its short-term or long-term ratings, then the applicable Hedge Counterparty Collateral Threshold Rating shall be downwardly adjusted accordingly; provided, further, that any adjustment to a rating shall be subject to the prior written consent of the applicable Rating Agency.
Sample 1
Hedge Counterparty Collateral Threshold Rating. With respect to a Person as an issuer or with respect to the debt of such Person, as the case may be, (i) such rating as shall be satisfactory to S&P (for so long as any Class of Notes is Outstanding and is rated by S&P) and Xxxxx’x (for so long as any Class of Notes is Outstanding and is rated by Xxxxx’x) and (ii) a short-term rating of at least “F1” by Fitch and a long term rating of at least “A” by Fitch, or if no short-term rating exists, then a long term rating of at least “A” by Fitch (for so long as any Class of Notes is Outstanding and is rated by Fitch) at the time of entering into the applicable Hedge Agreement and as specifically set forth in the related Hedge Agreement; provided that should a Rating Agency effect an overall downward adjustment of its short-term or long-term ratings, then the applicable Hedge Counterparty Collateral Threshold Rating shall be downwardly adjusted accordingly; provided, further, that any adjustment to a rating shall be subject to the prior written consent of the applicable Rating Agency.
Sample 1

Related to Hedge Counterparty Collateral Threshold Rating

  • Hedge Counterparty Ratings Requirement means (a) either (i) the unsecured, short-term debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A-1” by S&P or (ii) if the substitute counterparty does not have a short-term rating from S&P, the unsecured, long-term senior debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A+” by S&P, (b) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A1” by Moody’s (and if rated “A1” by Moody’s, such rating is not on watch for possible downgrade to below “A1”) and the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “P-1” by Moody’s (and if rated “P-1” by Moody’s, such rating is not on watch for possible downgrade and remaining on watch for possible downgrade), or (ii) if such substitute counterparty (or its Credit Support Provider) does not have a short-term debt rating from Moody’s, the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “Aa3” by Moody’s (and if rated “Aa3” by Moody’s, such rating is not on watch for possible downgrade to below “Aa3”), and (c) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A” by Fitch or (ii) the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “F1” by Fitch. For the purpose of this definition, no direct or indirect recourse against one or more shareholders of the substitute counterparty (or against any Person in control of, or controlled by, or under common control with, any such shareholder) shall be deemed to constitute a guarantee, security or support of the obligations of the substitute counterparty.

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

  • 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+”.

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

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • 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+”.

  • Specified Rating means, for the Class A(2018-1) Notes, Aaa(sf) with respect to Xxxxx’x, AAA(sf) with respect to Standard & Poor’s and AAAsf with respect to Fitch.

  • Required Rating means a short-term unsecured debt rating of “A-1+” by S&P Global Ratings and “F1+” by Fitch.

  • Hedge Counterparty means a Lender, the Administrative Agent or any of the Lender’s or the Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who has entered into a hedging agreement for the purpose of hedging interest rate liabilities and/or any exchange rate and/or commodity price risks provided it has become a party, or by execution of an additional bank secured party acknowledgment has agreed to be bound by the terms of, to the First Lien Intercreditor Agreement in its capacity as hedge counterparty.

  • Threshold Rating means the short-term unsecured debt rating of P-1 by Moody's and A-1 by Standard & Poor's.

  • Hedge Collateral Defined in Section 5.3(b).

  • Other Rating Agency Eligible Assets means assets of the Company designated by any Other Rating Agency as eligible for inclusion in calculating the Agency Discounted Value of the Company’s assets in connection with such Other Rating Agency’s rating of any series of MRP Shares.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time short-term debt ratings in one of the two highest ratings categories from the Requisite NRSROs or, if applicable, such other short-term debt ratings as may be required for the VRDP Shares to satisfy the eligibility criteria under Rule 2a-7 under the 1940 Act.

  • Required Ratings [Ratings] Closing Date, Location and Time: ___________ ___, 20___; offices of Cadwalader, Wickersham & Taft, LLP, Xxx Xxxx, New Xxxk; 10:00 a.m. New York City time. Purchase Price for the Offered Certificates: Class Percent of Initial Aggregate ----- Principal Balance -------------------------------- Class A % Classes B-1, B-2 and B-3 % In eaxx xxxx, as offered and sold pursuant to this Terms Agreement, plus accrued interest, if applicable, thereon. Notwithstanding any other provision of the above-referenced Underwriting Agreement, all references to the Registration Statement in the Underwriting Agreement shall be with reference to File No. _________. Subject to the terms and conditions and in reliance upon the representations and warranties set forth in the above-referenced Underwriting Agreement (which is incorporated herein in its entirety and made a part hereof) as supplemented by this Terms Agreement, the Seller agrees to sell to the Underwriter, and the Underwriter agrees to purchase from the Seller, the Offered Certificates. The Underwriter has been retained solely to act as underwriter in connection with the sale of the Offered Certificates to investors (including the establishment of the price of the Offered Certificates to investors), and no fiduciary, advisory or agency relationship between Seller and the Underwriter has been created in respect of any of the transactions contemplated by this Terms Agreement, irrespective of whether the Underwriter has advised or is advising Seller on other matters. * * * If the foregoing is in accordance with your understanding of our agreement, please sign and return to the undersigned a counterpart hereof, whereupon this letter and your acceptance shall represent a binding agreement by and among the Seller, Wells Fargo Bank, N.A. and the Underwriter. Very truly yours, WELLS FARGO ASSET SECURITIES XORPORATION By: ---------------------------- Name: Title: WELLS FARGO BANK, N.A. By: ---------------------------- Name: Title: The foregoing Terms Agreement is hereby confirmed and accepted as of the date first above written. HSBC SECURITIES (USA) INC. By: ---------------------------------- Name: Title: Exhibit B SUPPLEMENTAL INFORMATION With respect to any investor, "Supplemental Information" means any of the following types of information, to the extent omitted from the Issuer Free Writing Prospectus:

  • Investment Grade Credit Rating means (a) with respect to Fitch, a credit rating of BBB- or higher, (b) with respect to Xxxxx’x, a credit rating of Baa3 or higher and (c) with respect to S&P, a credit rating of BBB- or higher.

  • 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.

  • Eligible Counterparty means an “Eligible Counterparty” for the purposes of the Law.

  • Acceptable Counterparty means any counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of at least “A+” by S&P and “Aa3” from Xxxxx’x, which rating shall not include a “t” or otherwise reflect a termination risk and is otherwise reasonably acceptable to Lender.

  • Eligible Investment Required Ratings means, in the case of each Eligible Investment, a short-term credit rating of at least “A-1” (or, in the absence of a short-term credit rating, “AA-” or better) from S&P.

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Threshold Event Collateral shall have the meaning assigned to such term in Section 5(g).

  • Replacement Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.