Public Debt Ratings has the meaning set forth in the definition of “Applicable Rate.”
Public Debt Ratings means a rating to be based on the Borrower’s long-term senior unsecured non-credit enhanced debt ratings (“Senior Unsecured Ratings”) established by S&P, Xxxxx’x, and Fitch. If at any time there is a split in Senior Unsecured Ratings among S&P, Xxxxx’x, and Fitch and (a) two Senior Unsecured Ratings are equal and higher than the third Senior Unsecured Rating, the higher Senior Unsecured Ratings will apply, (b) two Senior Unsecured Ratings are equal and lower than the third Senior Unsecured Rating, the lower Senior Unsecured Ratings will apply, or (c) no Senior Unsecured Ratings are equal, the intermediate Senior Unsecured Rating will apply. In the event that the Borrower shall maintain Senior Unsecured Ratings from only two of S&P, Xxxxx’x, or Fitch, and there is a split in such Senior Unsecured Ratings, (i) in the event of a single level split, the higher Senior Unsecured Rating (i.e. the lower pricing) will apply and (ii) in the event of a multiple level split, the pricing will be based on the rating one level lower than the higher of the two. If only S&P, Xxxxx’x, or Fitch issues a rating then such rating shall apply. In the event that the Borrower’s senior unsecured long-term debt is not rated by any of S&P, Xxxxx’x or Fitch, then the Applicable Rate shall be calculated at Pricing Level 6. Initially, the Applicable Rate shall be determined based upon the Public Debt Ratings specified in the certificate delivered pursuant to Section 4.01(a)(vi). Thereafter, each change in the Applicable Rate resulting from a publicly announced change in the Public Debt Ratings shall be effective during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change.
Public Debt Ratings means, as of any date, the lowest rating that has been most recently announced by either S&P or Moody's, as the case may be, for any class of non-credit enhanced long-term senior unsecured debt (the "Long-Term Senior Debt") and commercial paper (the "Short-Term Debt") issued by the Borrower; provided that if the Borrower has caused the credit facility evidenced by this Agreement to be rated by S&P and Moody's, then such ratings shall be used in lieu of the ratings applicable to Long-Term Senior Debt and Short-Term Debt of the Borrower for all purposes hereunder. For purposes of the foregoing, with respect to the Borrower (a) if S&P or Moody's shall have in effect a rating for only one but not both of the Long-Term Senior Debt or the Short-Term Debt, the Applicable Margin and the Applicable Facility Fee Percentage shall be the lowest level that may be determined by reference to the available rating; (b) if only one of S&P and Moody's shall have in effect Public Debt Ratings, the Applicable Margin and the Applicable Facility Fee Percentage shall be determined by reference to the available rating; (c) if neither S&P nor Moody's shall have in effect Public Debt Ratings for either of the Long-Term Senior Debt or the Short-Term Debt, the Applicable Margin and the Applicable Facility Fee Percentage will be set in accordance with Level 8 under the definition of "Applicable Margin" or "Applicable Facility Fee Percentage", as the case may be; (d) if any rating established by S&P or Moody's shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (e) if S&P or Moody's shall change the basis on which ratings are established, each reference to the Public Debt Ratings announced by S&P or Moody's, as the case may be, shall refer to the then equivalent rating by S&P or Moody's, as the case may be.
Examples of Public Debt Ratings in a sentence
Schedule 7.15 contains a true and accurate list as of the Closing Date of the Senior Public Debt Ratings.
Schedule 5.15 contains a true and accurate list as of the Closing Date of the Senior Public Debt Ratings.
The Borrowers will notify the Agents promptly upon becoming aware thereof, of any publicly announced change in the Senior Public Debt Ratings and/or any change in the rating of any other Indebtedness of any of their Subsidiaries which is rated by S&P, Xxxxx’x or Fitch.
Therefore, the FPC-GSS has mitigated these risks by granting access only to authorized persons.Further, all USDA employees have undergone a background investigation and contractor access is governed by contracts identifying rules of behavior for USDA and FSIS systems and security.Authorized users are assigned level-of-access roles based on their job functions.Roles limit the update and printing capabilities to those deemed necessary forspecified job functions.
The Borrowers will notify the Administrative Agent (for further notification to the Lenders, the L/C Issuers and the Agents), promptly upon becoming aware thereof, of any publicly announced change in the Senior Public Debt Ratings and/or any change in the rating of any other Indebtedness of any of their Subsidiaries which is rated by S&P, Xxxxx’x or Fitch.
More Definitions of Public Debt Ratings
Public Debt Ratings means a rating to be based on the Borrower’s long-term senior unsecured non-credit enhanced debt ratings established by S&P, Xxxxx’x, and/or Fitch. If at any time there is a Public Debt Rating issued by each Designated Rating Agency and such Public Debt Ratings differ, and (a) two Public Debt Ratings are equal to one another, then the pricing shall be based on such Public Debt Ratings that are equal or (b) no Public Debt Ratings are equal, the intermediate Public Debt Rating will apply. In the event that the Borrower shall maintain Public Debt Ratings from only two of S&P, Xxxxx’x, or Fitch, and there is a split in such Public Debt Ratings, (i) in the event of a single level split, the higher Public Debt Rating (i.e. the lower pricing) will apply and (ii) in the event of a multiple level split, the pricing will be based on the rating one level lower than the higher of the two. If only one Public Debt Rating is available, it must be from S&P or Xxxxx’x and such Public Debt Rating shall apply. In the event that the Borrower does not have a Public Debt Rating from at least one of S&P or Xxxxx’x, then the Applicable Rate shall be calculated at Pricing Level 5.
Public Debt Ratings means, as of any date of determination, (a) the Parent’s “Senior Unsecured Rating” most recently announced by Moody’s and (b) the Parent’s “Corporate Credit Rating” most recently announced by S&P. If Moody’s or S&P shall change the basis on which such ratings are established, then the foregoing references shall be to the then equivalent rating by Moody’s or S&P, as the case may be, as determined by the Administrative Agent.
Public Debt Ratings means a rating to be based on the Parent’s or Borrower’s long-term senior unsecured non-credit enhanced debt ratings established by S&P and/or Moody’s.
Public Debt Ratings means, as of any date, the rating that has been most recently announced by either S&P or Moody’s, as the case may be, for any class of non-credit enhanced long-term senior unsecured debt issued by the Borrower.
Public Debt Ratings means a rating by S&P and/or Moody’s of the Parent’s or Borrower’s long-term senior unsecured non-credit enhanced debt for borrowed money.
Public Debt Ratings means, as of any date, the rating that has been most recently announced by either S&P or Moody’s, as the case may be, for any class of non-credit enhanced long-term senior unsecured debt issued by the Borrower or if any such rating agency shall have issued more than one such rating, the lowest such rating issued by such rating agency.
Public Debt Ratings means as of any date of determination, the public rating as determined by S&P or Fitch, as the case may be, of the Borrower’s senior unsecured non-credit enhanced long-term indebtedness for borrowed money. Bank of America, N.A. £ 65,000,000.00 26.000000000 % Gxxxxxx Sxxxx Bank USA £ 33,750,000.00 13.500000000 % Barclays Bank PLC £ 28,750,000.00 11.500000000 % Credit Agricole Corporate and Investment Bank £ 28,750,000.00 11.500000000 % BNP Paribas £ 18,750,000.00 7.500000000 % Deutsche Bank AG New York Branch £ 18,750,000.00 7.500000000 % Royal Bank of Canada £ 18,750,000.00 7.500000000 % Truist Bank £ 18,750,000.00 7.500000000 % Wxxxx Fargo Bank, National Association £ 18,750,000.00 7.500000000 % TOTAL £ 250,000,000.00 100.000000000 % None.