Minimum Credit Rating definition

Minimum Credit Rating has the meaning set forth in Annex I.

Minimum Credit Rating means a credit rating of at least BBB- from S&P and at least Baa3 from Moody's.

Minimum Credit Rating means a REC Supplier’s or REC Supplier’s Guarantor minimum senior unsecured debt rating (or, if unavailable, corporate issuer rating) of at least “BB+” from Standard & Poor’s Rating Services (“S&P”), “Ba1” from Xxxxx’x Investors Service, Inc. (“Moody’s”) or “BB+” from Fitch, Inc. If the REC Supplier or REC Supplier’s Guarantor has only two ratings, and the ratings are split, the higher rating will be used. If the REC Supplier or REC Supplier’s Guarantor has all three ratings, and the ratings are split, the lower of the two highest ratings will be used; provided that, in the event that the two highest ratings are common, such common rating will be used. If the REC Supplier or REC Supplier’s Guarantor is not rated, then the REC Supplier or REC Supplier’s Guarantor may submit three years of audited balance sheet, income and cash flow statements, and associated financial notes to the Buyer for review. Non-Defaulting Party has the meaning set forth in Section 11.1.

Examples of Minimum Credit Rating in a sentence

• If REC Supplier’s credit rating subsequently fails to satisfy the Minimum Credit Rating requirements, Buyer shall have the right to require performance assurances or to require posting of credit.

• Subject to Section 3(D)(ii) below, if Shipper does not meet the Minimum Credit Rating Standards, Shipper shall be deemed uncreditworthy.

• The credit assurance to be provided to Natural pursuant to this 3.1(c) shall continue in effect until (i) Shipper satisfies the Minimum Credit Rating Standards, (ii) the execution of a credit agreement to replace this provision, or (iii) the eighth (8th) anniversary of the first day of the Negotiated Rate Term, and full payment of all outstanding balances and charges and resolution of any asserted claims with respect thereto has been made by Shipper.

• Alternative Credit Support provided by Shipper pursuant to this Section 14 shall continue in effect until: Shipper satisfies the Minimum Credit Rating Standards; the execution of a credit agreement to replace this provision; or the termination of this Agreement.

• Following the Requested Credit Evaluation, Natural shall decide, in its sole discretion: (a) whether, despite the fact that Shipper does not satisfy the Minimum Credit Rating Standards, Natural will agree to consider Shipper creditworthy for purposes of this Agreement; or, (b) whether Natural will agree to reduce the amount of collateral support otherwise required to be provided by Shipper pursuant to Section 3.1(c).

More Definitions of Minimum Credit Rating

Minimum Credit Rating means a rating of at least (a) BB- by Standard & Poor’s Financial Services LLC, (b) Ba3 by Xxxxx’x Investors Service, Inc., or (c) BB- by Fitch, Inc.

Minimum Credit Rating means at least Baa3 by Moody’s and at least BBB+ by Fitch (or such other ratings that may be agreed by the Rating Agencies from time to time). Disposal of the Loan Assets Following the occurrence of an Issuer Event the Servicer shall be obligedto sell in whole or in part the Loan Assets in accordance with the provisions of the Servicing and Cash Management Deed. The proceeds from any such sale will be credited to the Transaction Account and applied in accordance with the Post Issuer Event Priority of Payments. In certain circumstances the Issuer shall have the right to prevent the sale of Loan Assets to third parties by removing the Loan Assets made subject to sale from the Cover Pool and transferring within 10 Athens Business Days from the receipt of an offer letter, to the Transaction Account, an amount equal to the price set forth in such offer letter, subject to theprovision of a solvency certificate. See “Description of Principal Documents – The Servicing and Cash Management Deed”. Following the service of a Notice of Default, the Trustee shall be entitled to direct the Servicer to dispose of the Cover Pool. Undertaking of the Issuer in respect of the Cover Pool Representations and Warranties of the IssuerPursuant to the Transaction Documents, the Servicer undertakes to manage the Cover Pool in the interest of the Covered Bondholders and the other Secured Creditors and undertakes to take in a timely manner, any actions required in order to ensure that the servicing of the Loan Assets is conducted in accordance with the collection policy and recovery procedure applicable to the Issuer. Under the Servicing and Cash Management Deed, the Issuer has made and will make certain representations and warranties regarding itself and the Cover Pool Assets including, inter alia:

Minimum Credit Rating means (a) in relation to any L/C Issuer either a minimum Standard and Poors corporate rating of AA- or a minimum Moodys long term credit rating of Aa3 and (b) in relation to the Refund Guarantor a minimum long term credit rating of A- or equivalent by either Standard and Poors or Fitch.

Minimum Credit Rating means a long-term senior unsecured debt rating by Xxxxx'x Investors Service, Inc. of at least "Baa1" and a long-term senior unsecured debt rating by Standard and Poor's Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc. of at least "BBB+."

Minimum Credit Rating of a Person means that the Credit Rating of that Person is at least (a) BBB- (or its equivalent) as determined by Standard & Poor’s and (b) Baa3 (or its equivalent) as determined by Xxxxx’x.

Minimum Credit Rating means, with respect to a party, such party’s senior unsecured debt is rated “BBB+” or better by S&P, “BBB+” or better by Fitch, or “Baa1” or better by Moody’s.

Minimum Credit Rating means any of the following (i) a long term issuer default rating of BBB- from S&P, (ii) a long term issuer rating of Baa3 from Moody’s, or (iii) a long term issuer default rating of BBB- from Fitch.