Obligor Rating definition

Obligor Rating means, with respect to any Rating Agency for an Obligor, if available, the long term unsecured and unguaranteed debt rating of such Obligor by such Rating Agency.

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Obligor Rating means the ratings assigned by each Rating Agency to the City of San ▇▇▇▇ Financing Authority Wastewater Revenue Bonds, Series 2022B (Green Bonds – Climate Bond Certified) (without regard to third party credit enhancement) while such bonds are outstanding and, thereafter, the ratings, if any, assigned by each Rating Agency (without regard to third party credit enhancement) to at least one issue of unenhanced long term debt constituting, or secured by obligations constituting, Parity Obligations under the Master Resolution.

Obligor Rating means any rating by a Rating Agency on any Bonds that is not guaranteed by any other Person or subject to any third-party credit enhancement.

Examples of Obligor Rating in a sentence

• In the event that an Obligor Rating is assigned by only one Rating Agency, the Obligor Rating assigned by that Rating Agency shall be used to determine the Commitment Fee Rate.

• In the event that Obligor Ratings are assigned by all three Rating Agencies, and no such Obligor Ratings are equivalent, the middle Obligor Rating shall be used to determine the Commitment Fee Rate.

• In the event that Obligor Ratings are assigned by only two Rating Agencies, the lowest Obligor Rating assigned shall be used to determine the Commitment Fee Rate.

• In the event that no Obligor Rating is available, the Authority may seek a private rating from Moody’s or S&P on the Notes, which may be used in place of the Obligor Ratings hereof for purposes of determining the Commitment Fee Rate.

• Promptly after obtaining knowledge thereof, written notice of any change in any Obligor Rating.

• In the event that an Obligor Rating is assigned by only one Rating Agency, the Obligor Rating assigned by that Rating Agency shall be used to determine the Applicable Spread.

• In the event that Obligor Ratings are assigned by only two Rating Agencies, the lowest Obligor Rating assigned shall be used to determine the Applicable Spread.

• In the event that no Obligor Rating is available, the Authority may seek a private rating from Moody’s or S&P on the Notes, which may be used in place of the Obligor Ratings hereof for purposes of determining the Applicable Spread.

• The Authority agrees to pay the Bank a nonrefundable commitment fee (the “Commitment Fee”), calculated on the basis of a 360 day year and actual days elapsed using the rate per annum as specified below in the column captioned “Commitment Fee” on the Level which contains the relevant Obligor Rating, determined as provided below, (the “Commitment Fee Rate”) on the Available Commitment.

• Commencing on October 18, 2020 the Authority agrees to pay the Bank a nonrefundable commitment fee (the “Commitment Fee”), calculated on the basis of a 360 day year and actual days elapsed using the rate per annum as specified below in the column captioned “Commitment Fee” on the Level which contains the relevant Obligor Rating, determined as provided below, (the “Commitment Fee Rate”) on the Available Commitment.

More Definitions of Obligor Rating

Obligor Rating means the debt rating assigned by any Rating Agency to any long-term Debt of the Borrower which (a) is secured under the First Mortgage Indenture, (b) as to priority of payment is on a parity with or senior to the Bonds and (c) is not guaranteed by any other Person or subject to any third-party credit enhancement.

Obligor Rating means the debt rating assigned by any Rating Agency to any Parity Indebtedness.

Obligor Rating means any rating by a Rating Agency on any [Parity Water/Wastewater Obligations] of the Issuer secured by a Lien on and security interest in the Net Revenues that is not guaranteed by any other Person or subject to any third-party credit enhancement.

Obligor Rating. For any Obligor, the rating assigned at the time the related Contract is originated to such Obligor in conformity with the Credit and Collection Policy, by the Originator, which ratings may be A, B], C+, C, C-, D+, D or D-. OFAC: The U.S. Department of the Treasury’s Office of Foreign Assets Control.

Obligor Rating means any rating by a Rating Agency on any Debt of the District payable from and secured by a pledge of and Lien on the Pledged Revenues on a parity with the Series 2003A Installment Payments and that is not guaranteed by any other Person or subject to any third-party credit enhancement.