No Downgrade Confirmation. A confirmation from each Rating Agency that any proposed action, or failure to act or other specified event will not, in and of itself, result in the downgrade or withdrawal of the then-current rating assigned to any Class of Notes then rated by such Rating Agency.
No Downgrade Confirmation. As defined in the Indenture.
No Downgrade Confirmation means written confirmation from the Rating Agencies that a certain action, matter or event will not result in a downgrade, withdrawal or qualification of the initial, or if higher, then current ratings issued in connection with a Securitization, if any has occurred.
Examples of No Downgrade Confirmation in a sentence
Notwithstanding anything to the contrary set forth in this Indenture, at any time during which the Notes are no longer rated by a Rating Agency, a No Downgrade Confirmation shall not be required from such Rating Agency under this Indenture.
It focuses on the research process and the kind of tools and procedures to be used (Mouton, 2001).
The No Downgrade Confirmation shall be obtained at the related Mortgagor’s expense in accordance with the related Loan Agreement or, if not so provided in such Loan Agreement or if such Mortgagor does not pay, at the expense of the Trust Fund.
Notwithstanding any provision herein to the contrary, the Primary Servicer shall not deliver any information or documents to the 17g-5 Information Provider or make any request to a Rating Agency for a No Downgrade Confirmation; all such deliveries and requests shall be made by, and as determined necessary by, the Master Servicer.
The foregoing shall include any No Downgrade Confirmation request made pursuant to this Agreement, which shall be in writing, with a cover letter indicating the nature of the request and shall include all information the requesting party believes is reasonably necessary for the applicable Rating Agency to make its decision.
More Definitions of No Downgrade Confirmation
No Downgrade Confirmation means a written confirmation from each Rating Agency then in business which was engaged by or on behalf of the Depositor to initially rate the Certificates that each credit rating of each Class of Certificates, as applicable, to which it has assigned a rating immediately prior to the occurrence of the event with respect to which such No Downgrade Confirmation is sought, will not be qualified, downgraded or withdrawn as a result of the occurrence of such event, which confirmation may be waived (in writing or via email), granted or withheld in such Rating Agency’s sole and absolute discretion. Any party requesting a No Downgrade Confirmation shall provide 10 days prior written notice of such request to each Rating Agency and shall provide to each Rating Agency at least 5 days prior to the date of such requested No Downgrade Confirmation, to the extent within such requesting party’s reasonable control, a follow-up request together with all information and documents with respect to the applicable Mortgage Loan, the applicable Mortgaged Property, the applicable Borrower or such action for which No Downgrade Confirmation is required that would be reasonably required for such Rating Agency to provide such No Downgrade Confirmation with respect to the proposed action. If a Rating Agency provides a written waiver or other written acknowledgment indicating its decision not to review the matter for which such confirmation is sought, no No Downgrade Confirmation shall be required from that Rating Agency. For the purposes of this requirement, any confirmation, waiver, request, acknowledgment or approval that is required to be in writing may be in the form of electronic mail. If a Rating Agency has not replied to a request for a No Downgrade Confirmation within five days of the follow-up request described above, then the applicable No Downgrade Confirmation requirement shall be deemed to have been satisfied. At any time during which no Certificates are rated by a Rating Agency, no No Downgrade Confirmation shall be required from that Rating Agency.
No Downgrade Confirmation. A confirmation from a Rating Agency that any proposed action, or failure to act or other specified event will not, in and of itself, result in the downgrade or withdrawal of the then-current rating assigned to the Class A Loans or any Class of Notes then rated by such Rating Agency; provided that if the Requesting Party receives a written waiver or acknowledgment indicating its decision not to review the matter for which the No Downgrade Confirmation is sought, then the requirement to receive a No Downgrade Confirmation from the Rating Agency with respect to such matter shall not apply. For the purposes of this definition, any confirmation, waiver, request, acknowledgment or approval which is required to be in writing may be in the form of electronic mail. At any time during which the Class A Loans or Notes are no longer rated by a Rating Agency, a No Downgrade Confirmation shall not be required from such Rating Agency.
No Downgrade Confirmation. A written confirmation from DCR that the taking of the proposed action (including consents, waivers and approvals), in and of itself, will not result in a downgrade or withdrawal of the then current rating on any Class of Certificates.
No Downgrade Confirmation. With respect to any matter, confirmation in writing (which may be in electronic form) by each applicable Rating Agency that a proposed action, failure to act or other event so specified will not, in and of itself, result in the downgrade, withdrawal or qualification of the then-current rating assigned to any Class of Certificates (if then rated by the Rating Agency); provided that a written waiver or other acknowledgment from the Rating Agency indicating its decision not to review the matter for which the No Downgrade Confirmation is sought shall be deemed to satisfy the requirement for the No Downgrade Confirmation from each Rating Agency with respect to such matter.
No Downgrade Confirmation means written confirmation from each Rating Agency that the proposed action, or failure to act or other specified event will not in and of itself result in the downgrade, withdrawal or qualification of the then-current rating assigned to the Rated Notes by such Rating Agency. For the purposes of this definition, any confirmation, waiver, request, acknowledgment or approval which is required to be in writing may be in the form of electronic mail.
No Downgrade Confirmation shall have the meaning set forth in Section 4.5(a)(8).
No Downgrade Confirmation means, at any time that any Bonds are Outstanding, and subject to Section 3.26 of the Servicing Agreement, a written confirmation (which may be in electronic form and may be in the form of a press release) from the Rating Agency then rating the Bonds that was engaged by or on behalf of the Bond Issuer to initially rate the Bonds, to the effect that each credit rating of each Class of Bonds to which it has assigned a rating immediately prior to the occurrence of the event with respect to which such No Downgrade Confirmation is sought, will not be qualified, downgraded, suspended or withdrawn as a result of the occurrence of such event; provided that a written waiver or other acknowledgment from the Rating Agency indicating its decision not to review the matter for which the No Downgrade Confirmation is sought shall be deemed to satisfy the requirement for the No Downgrade Confirmation from the Rating Agency with respect to such matter.