Morningstar DBRS definition

Morningstar DBRS means DBRS, Inc., and its successors in interest.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Morningstar DBRS. DBRS, Inc., and its successors in interest. If neither Morningstar DBRS nor any successor remains in existence, “Morningstar DBRS” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated by the Depositor, notice of which designation shall be given to the Trustee, the Certificate Administrator, the Master Servicer, the Directing Certificateholder and the Special Servicer and specific ratings of Morningstar DBRS herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.

Morningstar DBRS means DBRS, Inc., or any successor that is a nationally recognized statistical rating organization.

Examples of Morningstar DBRS in a sentence

• Any successor to the Custodian shall be a U.S. state or national bank or trust company that is not an Affiliate of the Issuer and has capital and surplus of at least $200,000,000 and whose long-term unsecured debt is rated at least “A” by Fitch and “BBB(high)” by Morningstar DBRS (if rated by Morningstar DBRS, or if not rated by Morningstar DBRS, an equivalent (or higher) rating by any two other NRSROs (which may include Fitch)).

• In the event that such successor Paying Agent ceases to have a long-term senior unsecured debt rating of “AA” or higher by Fitch and a long-term unsecured debt rating of at least “A” by Morningstar DBRS (or, if not rated by Morningstar DBRS, an equivalent rating by any two other NRSROs, which may include Fitch), the Issuer shall promptly remove such Paying Agent and appoint a successor Paying Agent.

More Definitions of Morningstar DBRS

Morningstar DBRS means DBRS Limited, or its successor;

Morningstar DBRS means DBRS Limited.

Morningstar DBRS means DBRS, Inc. and its successor in interest.

Morningstar DBRS means DBRS Limited (DBRS Morningstar) and any successor to its rating agency business.

Morningstar DBRS means DBRS Limited, which was acquired by Morningstar, Inc. on July 2, 2019;

Morningstar DBRS means DBRS Limited. “Moody’s” means Moody’s Investor Service. “NCIB” means normal course issuer bid.

Morningstar DBRS means Morningstar DBRS and its successors.