Qualified Interest Rate Cap Counterparty means a counterparty to a Series 2010-6 Interest Rate Cap that is a bank, other financial institution or Person which has, or has all of its obligations under its Series 2010-6 Interest Rate Cap guaranteed by a Person that has a long-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “BBB” from DBRS, a long-term senior unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “Baa2” from Moody’s or a long-term senior unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “BBB” from Standard & Poor’s.
Qualified Interest Rate Cap Counterparty means a counterparty to a Series 2008-1 Interest Rate Cap that is a bank, other financial institution or Person which has, or has all of its obligations under its Series 2008-1 Interest Rate Cap guaranteed by a Person that has, (i) a short-term senior unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A-1”, or if such bank, financial institution or Person does not have a short-term senior, unsecured debt rating, a long-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A+”, in each case, from Standard & Poor’s, (ii) a short-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of “P-1”, or if such bank, financial institution or Person does not have a short-term senior, unsecured debt rating, a long-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A1”, in each case, from Moody’s and (iii) a short-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of “R-1 (middle)” or a long-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A (high)”, in each case, from DBRS; provided, however, that if such Person is not rated by DBRS, such Person shall qualify as a Qualified Interest Rate Cap Counterparty so long as such Person meets the requirements set forth in clauses (i) and (ii) above.
Qualified Interest Rate Cap Counterparty means a counterparty to a Series 2010-1 Interest Rate Cap that is a bank, other financial institution or Person which satisfies the First Trigger Ratings and/or the Second Trigger Ratings (or, with respect to a bank, other financial institution or Person that does not satisfy the First Trigger Ratings, whose present and future obligations under its Series 2010-1 Interest Rate Cap are guaranteed pursuant to a guarantee (in form and substance satisfactory to the Administrative Agent and satisfying the other requirements set forth in the related Series 2010-1 Interest Rate Cap) provided by a guarantor which satisfies the First Trigger Ratings and/or the Second Trigger Ratings).
Examples of Qualified Interest Rate Cap Counterparty in a sentence
On the Series 2008-1 Closing Date, ABRCF shall acquire one or more interest rate caps (each a “ Series 2008-1 Interest Rate Cap”) from a Qualified Interest Rate Cap Counterparty.
More Definitions of Qualified Interest Rate Cap Counterparty
Qualified Interest Rate Cap Counterparty means a counterparty to a Series 2001-1 Interest Rate Cap who is acceptable to the Surety Provider and is (i) an S&P Qualified Interest Rate Cap Counterparty, (ii) a Moody's Qualified Interest Rate Cap Counterparty and (iii) a Surety Provider Qualified Interest Rate Cap Counterparty.
Qualified Interest Rate Cap Counterparty means a counterparty to a Series 2005-3 Interest Rate Cap that is a bank or other financial institution, which has, or which has all of its obligations under its Series 2005-3 Interest Rate Cap guaranteed by a Person that has, (i) a short-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A-1”, or if such bank or financial institution or Person does not have a short-term senior, unsecured debt rating, then a long-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A+”, in each case, from Standard & Poor’s and (ii) a short-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of “P-1”, or if such bank or financial institution or Person does not have a short-term senior, unsecured debt rating, then a long-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A1”, in each case, from Moody’s.
Qualified Interest Rate Cap Counterparty means a bank or other financial institution, which has, or has all of its obligations under its Series 2004-4 Interest Rate Cap guaranteed by a Person that has, (i) a short-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A-1”, or if such bank or financial institution does not have a short-term senior, unsecured debt rating, a long-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A+”, in each case, from Standard & Poor’s and (ii) a short-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of “P-1”, or if such bank or financial institution does not have a short-term senior, unsecured debt rating, a long-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “Aa3”, in each case, from Mxxxx’x.
Qualified Interest Rate Cap Counterparty means a bank or other financial institution, which has a short-term senior and unsecured debt rating of at least "A-1" or a long-term senior and unsecured rating of at least "A", in each case, from S&P and a short-term senior and unsecured debt rating of "P-1" or a long-term senior and unsecured rating of at least "A2", in each case, from Moody's.
Qualified Interest Rate Cap Counterparty means a counterparty to any Series 2003-5 Interest Rate Cap (A) who is acceptable to the Surety Provider and (B) who is a bank or other financial institution, which is acceptable to each Rating Agency or has (i) a short-term senior unsecured debt, deposit or credit (as the case may be) rating of at least “A-1” from Standard & Poor’s and of “P-1” from Xxxxx’x and (ii) (a) on the date such Series 2003-5 Interest Rate Cap is executed, a long-term senior unsecured debt, deposit or credit (as the case may be) rating of at least “AA-” from Standard & Poor’s and of at least “Aa3” from Xxxxx’x and (b) on any other date, a long-term senior unsecured debt, deposit or credit (as the case may be) rating of at least “A+” from Standard & Poor’s and of at least “A1” from Xxxxx’x.
Qualified Interest Rate Cap Counterparty means a counterparty to a Series 2009-3 Interest Rate Cap that is a bank, other financial institution or Person which has, or has all of its obligations under its Series 2009-3 Interest Rate Cap guaranteed by a Person that has a short-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of “P-1”, or if such bank, financial institution or Person does not have a short-term senior, unsecured debt rating, a long-term senior, unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A1”, in each case, from Moody’s.
Qualified Interest Rate Cap Counterparty means a counterparty to a Series 2000-1 Interest Rate Cap that is a bank, other financial institution or Person which (i) satisfies the Moody’s First Trigger Required Ratings and/or the Moody’s Second Trigger Required Ratings (or whose present and future obligations under its Series 2000-1 Interest Rate Cap are guaranteed pursuant to a guarantee (in form and substance satisfactory to the Administrative Agent and satisfying the other requirements set forth in the related Series 2000-1 Interest Rate Cap) provided by a guarantor which satisfies the Moody’s First Trigger Required Ratings and/or the Moody’s Second Trigger Required Ratings) and (ii) has a short-term senior unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “A-2” from Standard & Poor’s, or if such counterparty does not have a short-term senior unsecured debt rating from Standard & Poor’s, a long-term senior unsecured debt, deposit, claims paying or credit (as the case may be) rating of at least “BBB+” from Standard & Poor’s (or whose present and future obligations under its Series 2000-1 Interest Rate Cap are guaranteed pursuant to a guarantee (in form and substance satisfactory to the Administrative Agent and satisfying the other requirements set forth in the related Series 2000-1 Interest Rate Cap) provided by a guarantor which has the ratings set forth in this clause (ii)).