Highest Credit Rating Available definition

Highest Credit Rating Available. The highest rating category (disregarding any plus or minus or any numerical or other subcategory) of any Rating Agency. Holders: With respect to the Trust Fund, all of the Certificateholders of REMIC Certificates. With respect to the Lower Tier REMIC, the RL Class Certificateholder and the Trustee, as the case may be, as holders of the Lower Tier Interests.
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Highest Credit Rating Available. The highest rating category (disregarding any plus or minus or any numerical or other sub-category) of any Rating Agency.
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Highest Credit Rating Available. The highest rating category (disregarding any plus or minus or any numerical or other sub-category) of any Rating Agency. Holders: With respect to the Grantor Trust Classes, Xxxxxx Xxx, in its capacity as trustee of the Lower Tier REMIC, in the case of Class 54A-2 and Class 54A-4 and Xxxxxx Mae, in its capacity as trustee of the Trust Fund, in the case of Class 54A-1 and Class 54A-3.
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More Definitions of Highest Credit Rating Available

Highest Credit Rating Available. The highest rating category (disregarding any plus or minus or any numerical or other sub-category) of any Rating Agency. Holders: With respect to Upper Tier REMIC 1 or Upper Tier REMIC 2, all of the Certificateholders of the related Upper Tier REMIC Certificates. With respect to Lower Tier REMIC 1, the Class 90-RL Certificateholder and the Trustee, as the case may be, as holders of the Lower Tier REMIC 1 Classes. With respect to Lower Tier REMIC 2, the Class 90-RB Certificateholder and the Trustee, as the case may be, as holders of the Lower Tier REMIC 2 Classes.
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Highest Credit Rating Available. The highest rating category (disregarding any plus or Holders: With respect to the Upper Tier Trust Fund, all of the Certificateholders of the Group 1, Group 2, Group 3 and Group 4 Classes and the Class 38-R Certificateholder, with respect to the Middle Tier Trust Fund, the Class 38-RA Certificateholder and the Trustee for the Upper Tier Trust Fund, as the case may be; with respect to the Lower Tier Trust Fund, the Class 38-RL Certificateholder and the Trustee for the Middle Tier Trust Fund, as the case may be; and with respect to the Grantor Trust, the Certificateholders of the FL Class.
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Highest Credit Rating Available. The highest rating category (disregarding any plus or minus or any numerical or other subcategory) of any Rating Agency. Holders: With respect to the Trust Fund, all of the Certificateholders of Trust Fund Certificates. With respect to the Lower Tier REMIC, the RL Class Certificateholder and the Trustee, as the case may be, as holders of the Lower Tier Interests. With respect to the Middle Tier REMIC, the RM Class Certificateholder and the Trustee, as the case may be, as holders of the Middle Tier Interests. With respect to the Upper Tier REMIC, the R Class Certificateholder and the Trustee, as the case may be, as holders of the Upper Tier Interests.
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Highest Credit Rating Available. The highest rating category (disregarding any Holders: All of the Certificateholders.
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Related to Highest Credit Rating Available

  • Credit Rating means the rating assigned by a Rating Agency to the senior unsecured long term Indebtedness of a Person.

  • Rating Level means, with respect to any rating agency, each rating subcategory or “notch” of such rating agency , giving effect to pluses and minuses (or similar designations). By way of illustration, BBB+, BBB and BBB- are each separate Rating Levels of S&P.

  • Applicable Credit Rating For any long-term deposit or security, a credit rating of "AAA" in the case of S&P or "Aaa" in the case of Xxxxx'x. For any short-term deposit or security, a rating of "A-l+" in the case of S&P or "P-1" in the case of Xxxxx'x.

  • 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.

  • Acceptable Credit Rating means a minimum long term credit rating of either BBB from Standard & Poors or Baa2 from Xxxxx’x; Access Undertaking means:

  • Applicable Rating Level at any time and for any Borrower shall be determined in accordance with the then-applicable S&P Rating and the then-applicable Xxxxx’x Rating for such Borrower as follows: S&P Rating A or higher or Xxxxx’x Rating A2 or higher 1 S&P Rating A- or higher or Xxxxx’x Rating A3 or higher 2 S&P Rating BBB+ or Xxxxx’x Rating Baa1 3 S&P Rating BBB or Xxxxx’x Rating Baa2 4 S&P Rating BBB- or Xxxxx’x Rating Baa3 5 S&P Rating BB+ or below or Xxxxx’x Rating Ba1 or below, or no S&P Rating or Xxxxx’x Rating 6 The Applicable Rating Level for any Borrower and for any day shall be determined based upon the higher of the S&P Rating and the Xxxxx’x Rating for such Borrower in effect on such day. If the S&P Rating and the Xxxxx’x Rating are not the same (i.e., a “split rating”), the higher of such ratings shall control, unless (i) the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control, or (ii) either rating is below BBB- or Baa3 (as applicable), in which case the lower of the two ratings shall control.

  • Highest Rating Category means, with respect to a Permitted Investment, that the Permitted Investment is rated by S&P or Moody’s in the highest rating category given by that rating agency for that general category of security. By way of example, the Highest Rating Category for tax exempt municipal debt established by S&P is “A 1+” for debt with a term of one year or less and “AAA” for a term greater than one year, with corresponding ratings by Moody’s of “MIG 1” (for fixed rate) or “VMIG 1” (for variable rate) for three months or less and “Aaa” for greater than three months. If at any time (i) both S&P and Moody’s rate a Permitted Investment and (ii) one of those ratings is below the Highest Rating Category, then such Permitted Investment will, nevertheless, be deemed to be rated in the Highest Rating Category if the lower rating is no more than one rating category below the highest rating category of that rating agency. For example, a Permitted Investment rated “AAA” by S&P and “Aa3” by Moody’s is rated in the Highest Rating Category. If, however, the lower rating is more than one full rating category below the Highest Rating Category of that Rating Agency, then the Permitted Investment will be deemed to be rated below the Highest Rating Category. For example, a Permitted Investment rated “AAA” by S&P and “A1” by Moody’s is not rated in the Highest Rating Category.

  • Credit Rating Agency means a nationally recognized credit rating agency that evaluates the financial condition of issuers of debt instruments and then assigns a rating that reflects its assessment of the issuer’s ability to make debt payments.

  • Liquidity Ratio means, for any date of determination, the ratio of (a)(i) the aggregate amount of unrestricted and unencumbered cash (other than Liens in favor of Bank) held at such time by Borrower in Deposit Accounts maintained with Bank, plus (ii) accounts receivable determined according to GAAP for the Borrower and its consolidated Subsidiaries, divided by (b) the principal amount of outstanding Credit Extensions.

  • Applicable Liquidity Rate has the meaning specified in Section 3.07(g).

  • DBRS Equivalent Rating means, with respect to any date and any Person with respect to whom DBRS does not maintain a public Relevant DBRS Rating as of such date,

  • Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

  • Credit Score means a composite numerical score scaled from 0-100 as calculated by PJMSettlement that incorporates various predictors of creditworthiness.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • 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.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Maximum Cap Rate For any Distribution Date with respect to the Group I Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group I Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Group II Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group II Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group II Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Mezzanine Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of the applicable Loan Group, the current Certificate Principal Balance of the related Class A Certificates) of the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans and the Group II Mortgage Loans, in each case, weighted on the basis of the outstanding Stated Principal Balances of the related Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12.

  • Maximum Available Amount means, on any date of determination, an amount equal to the lesser of:

  • Adjusted Leverage Ratio means, on any date of determination, the ratio of (i) Adjusted Liabilities to (ii) Tangible Net Worth.

  • Fitch Credit Support Amount means, for any Valuation Date, the excess, if any, of:

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Adjusted Base Rate means the Base Rate plus the Applicable Percentage.

  • Total Available Amount With respect to any Distribution Date, the sum of the Available Interest and the Available Principal for such Distribution Date and the amount of all cash or other immediately available funds on deposit in the Reserve Account immediately prior to such Distribution Date.