Pricing Rating means, as of any date of determination, the rating, if any, of the Company’s senior unsecured debt, as determined by either Standard & Poor’s Corporation (“S&P”) or Mxxxx’x Investors Service, Inc. (“Moody’s”); provided, that if the Company’s senior unsecured debt is rated by both of such rating agencies, then the more creditworthy of such credit ratings shall apply unless there is a split rating of two grades or more, in which case the rating one grade above the lower rating shall apply.
Pricing Rating means, as of any date, the highest Rating of the Borrower as at such date; provided, however, if at such time there are two or more Ratings of the Borrower and there is more than one tier difference between the two highest Ratings, the Applicable Margin shall be the Rating which is one tier above the lower of such two Ratings.
Pricing Rating means, as of any date of determination of the Applicable Amount, (a) the rating assigned by S&P or Fitch to the outstanding senior unsecured non-credit-enhanced long-term indebtedness of the Company or (b) if neither S&P nor Fitch has assigned a rating of the type described in clause (a), the corporate rating assigned to the Company by S&P or the issuer rating assigned to the Company by Fitch; provided that (i) if the Company is split-rated and the ratings differential is one Pricing Level, the higher rating will apply, (ii) if the Company is split-rated and the ratings differential is two Pricing Levels or more, the intermediate rating at the midpoint will apply (or if there is no midpoint, the higher of the two intermediate ratings will apply) and (iii) if only one of the two rating agencies has assigned such a rating, the Pricing Level corresponding to such rating shall apply. For purposes hereof, the rating by each rating agency as of any date shall be the applicable rating by such agency in effect at the close of business on such date.
Examples of Pricing Rating in a sentence
If, at any time, no Major Credit Rating Agency provides the Borrower with a Rating, the lowest Pricing Rating set forth in Schedule H shall apply until changed in accordance with the terms of this agreement.
More Definitions of Pricing Rating
Pricing Rating means, as of any date of determination of the Applicable Amount, (a) the rating assigned by S&P or Moody’s to the outstanding senior unsecured non-credit-enhanced long-term indebtedness of the Company or (b) if neither S&P nor Moody’s has assigned a rating of the type described in clause (a), the corporate rating assigned to the Company by S&P or the issuer rating assigned to the Company by Moody’s; provided that (i) if the Company is split-rated and the ratings differential is one Pricing Level, the higher rating will apply, (ii) if the Company is split-rated and the ratings differential is two Pricing Levels or more, the intermediate rating at the midpoint will apply (or if there is no midpoint, the higher of the two intermediate ratings will apply) and (iii) if only one of the two rating agencies has assigned such a rating, the Pricing Level corresponding to such rating shall apply. For purposes hereof, the rating by each rating agency as of any date shall be the applicable rating by such agency in effect at the close of business on such date.
Pricing Rating means, as of any date of determination, the rating, if any, of the senior unsecured debt of the Company or, after the Reorganization Date, Newco, as determined by either Standard & Poor’s Corporation (“S&P”) or Xxxxx’x Investors Service, Inc. (“Moody’s”); provided, that if the senior unsecured debt of the Company or, after the Reorganization Date, Newco, is rated by both of such rating agencies, then the more creditworthy of such credit ratings shall apply unless there is a split rating of two grades or more, in which case the rating one grade above the lower rating shall apply.
Pricing Rating means the long-term unsecured debt rating of Borrower as determined by Standard and Poor's Corporation or Xxxxx'x Investors Service, Inc.
Pricing Rating means, as of any date of determination, the rating, if any, of the senior unsecured debt of the Company, as determined by either Standard & Poor’s Services, a Standard & Poor’s Financial Services LLC business (“S&P”) or Xxxxx’x Investors Service, Inc. (“Moody’s”); provided, that if the senior unsecured debt of the Company is rated by both of such rating agencies, then the more creditworthy of such credit ratings shall apply unless there is a split rating of two grades or more, in which case the rating one grade above the lower rating shall apply.