Highest Ranking Class. Any outstanding Class rated by S&P with respect to which there is no Priority Class that is outstanding.
Highest Ranking Class means the Class of Outstanding Notes with respect to which there is no Higher Ranking Class, which, in the event that no Secured Notes remain Outstanding, shall be the Subordinated Notes.
Highest Ranking Class. Any outstanding Class rated by S&P with respect to which there is no Priority Class that is outstanding; provided, that as used in the definition of “S&P CDO Monitor Test” only, that on the Closing Date and thereafter to the extent any Class A Notes are outstanding, the Class A Notes will be the Highest Ranking Class.
Examples of Highest Ranking Class in a sentence
Regularly rostered leave shall be taken in alternate periods of relief as mutually agreed upon and shall operate as a "duty roster" and "leave roster".
More Definitions of Highest Ranking Class
Highest Ranking Class means, as of any date of determination, the Class of Secured Notes (other than the Class X Notes) that is rated by S&P and that has no Priority Class. For the avoidance of doubt, the Class X Notes will not constitute the Highest-Ranking Class at any time.
Highest Ranking Class. The outstanding Class of Secured Notes rated by S&P that ranks higher in right of payment than each other Class of Secured Notes rated by S&P in the Debt Payment Sequence.
Highest Ranking Class. As of any date of determination, the Class of Secured Notes that has no Priority Class.
Highest Ranking Class means the Class of Outstanding Notes that is most senior in right of payment of principal in the Note Payment Sequence; provided that, in the event that no Secured Notes remain Outstanding, the Highest Ranking Class shall be the Subordinated Notes.
Highest Ranking Class means the Class of Outstanding Notes (other than the Class X Notes) that is most senior in right of payment of principal in the Note Payment Sequence; provided that, in the event that no Secured Notes remain Outstanding, the Highest Ranking Class shall be the Subordinated Notes. For the avoidance of doubt, the Class X Notes will not constitute the Highest Ranking Class at any time.
Highest Ranking Class means, as of any date of determination, the Outstanding Class of Secured Notes (other than the Class X Notes) rated by S&P that has no Outstanding Priority Class.
Highest Ranking Class means, as of any date of determination, the highest ranking Class of Secured Notes that is rated by S&P and that has no Priority Class.