Qualifying Ratings definition

Qualifying Ratings means, with respect to the debt of any assignee or guarantor under Paragraph 4(9)(ii) below,

Qualifying Ratings means, with respect to the debt of any entity, (1) (x) a short-term unsecured and unsubordinated debt rating of at least “P-1”, and a long-term unsecured and unsubordinated debt of at least ”A2” (or, if it has no short-term unsecured and unsubordinated debt rating, a long term rating of at least “A1”) by Moody’s (“Moody’s First Level Qualifying Ratings”), and (y) a short-term unsecured and unsubordinated debt rating of at least “P-2”, and a long-term unsecured and unsubordinated debt of at least ”A3” (or, if it has no short-term unsecured and unsubordinated debt rating, a long term rating of at least “A3”) by Moody’s (“Moody’s Second Level Qualifying Ratings”); and (2) a short-term unsecured and unsubordinated debt rating of at least “A-1” , or if it does not have a short-term rating, a long-term unsecured and unsubordinated debt rating of at least “A+” by S&P (“S&P Qualifying Ratings”) and (3) a short-term unsecured and unsubordinated debt rating of at least “F1” by Fitch and a long-term unsecured and unsubordinated debt rating of at least “A” by Fitch (“Fitch Qualifying Ratings”).

Qualifying Ratings means, with respect to the debt of any assignee or guarantor hereunder, (A) a short-term unsecured and unsubordinated debt rating of “P-1” (not on watch for downgrade), and a long-term unsecured and unsubordinated debt of ”A1” (not on watch for downgrade) (or, if it has no short-term unsecured and unsubordinated debt rating, a long term rating of “Aa3” (not on watch for downgrade) by Moody’s, and (B) a short-term unsecured and unsubordinated debt rating of “A-1”, or if it does not have a short-term rating, a long-term unsecured and unsubordinated debt rating of “A+” by S&P; (3) a “Collateralization Event” shall occur with respect to BNY (or any applicable credit support provider) if: (A) its short-term unsecured and unsubordinated debt rating is reduced to “P-2” or below, and its long-term unsecured and unsubordinated debt is reduced to ”A3” or below, or, if it has no short-term unsecured and unsubordinated debt rating, its long term rating is reduced to “A2” or below, by Moody’s (a “Moody’s Collateralization Event”), or (B) its short-term unsecured and unsubordinated debt rating is reduced to “A-2” or below, or, if it does not have a short-term rating, its long-term unsecured and unsubordinated debt rating is reduced to “A” or below by S&P (an “S&P Collateralization Event”); and (4) a “Ratings Event” shall occur with respect to BNY (or any applicable credit support provider) if: (A) its short-term unsecured and unsubordinated debt rating is withdrawn or reduced to “P-3” or below and its long-term unsecured and unsubordinated debt is reduced to “Baa1” or below, or, if it has no short-term unsecured and unsubordinated debt rating, its long term rating is reduced to “Baa1” or below, by Moody’s (a “Moody’s Ratings Event”), or (B) its long-term unsecured and unsubordinated debt rating is withdrawn or reduced to “BB+” or below by S&P (an “S&P Ratings Event”).

Examples of Qualifying Ratings in a sentence

• SCHEDULE 1B ELIGIBLE COLLATERAL S&P Valuation Date (and Valuation Percentage column): Daily Denomination of Credit Support Amount: USD S&P Valuation Percentage columns: * Column A sets out the percentage to be used when S&P Limited Qualifying Ratings have been assigned.

• The regulatory action also repeals sections 194 (Rating by Interview), 195 (Condu t of Interviews), 196 (Composition of Panels), 198 (Competitive Ratings), 199 (Minimum Qualifying Ratings), and 199.

• As used herein, "Moody's", "S&P", "Rating Agency", "Collateralization Event", "Moody's Collateralization Event", "S&P Collateralization Event"; "Ratings Event", "Moody's Ratings Event", "S&P Ratings Event", "Qualifying Ratings", "Moody's First Level Qualifying Ratings", "Moody's Second Level Qualifying Ratings", "S&P Qualifying Ratings", "Qualified Transferee", "Qualified Guarantor", and "Qualified Guaranty" have the meanings assigned in Part 5(i)(i).

• Section 1.1001-4) (1) that has Moody's Qualifying Ratings or Moody's Limited Qualifying Ratings and S&P Qualifying Ratings or S&P Limited Qualifying Ratings and Fitch Qualifying Ratings or Fitch Limited Qualifying Ratings, or (2) whose present and future obligations owing to Party B are guaranteed pursuant to a Qualified Guaranty.

• If Party A or its guarantor under a Qualified Guaranty is assigned S&P Limited Qualifying Ratings, then Party A shall use commercially reasonable efforts to take one of the actions referred to in (x) or (y) above within sixty (60) calendar days thereafter (but, for the avoidance of doubt, an Additional Termination Event will not be constituted if such efforts have been taken and such novation, assignment, transfer or guaranty has not been effected in such time period).

More Definitions of Qualifying Ratings

Qualifying Ratings means, with respect to the debt of any assignee or guarantor under Paragraph (ii) below,

Qualifying Ratings means, with respect to the debt of any entity, (1) (x) a short-term unsecured and unsubordinated debt rating of at least "P-1", and a long-term unsecured and unsubordinated debt of at least "A2" (or, if it has no short-term unsecured and unsubordinated debt rating, a long term rating of at least "A1") by Moody's ("Moody's First Level Qualifying Ratings"), and (y) a short-term unsecured and unsubordinated debt rating of at least "P-2", and a long-term unsecured and unsubordinated debt of at least "A3" (or, if it has no short-term unsecured and unsubordinated debt rating, a long term rating of at least "A3") by Moody's ("Moody's Second Level Qualifying Ratings"); and (2) a short-term unsecured and unsubordinated debt rating of at least "A-1" , or if it does not have a short-term rating, a long-term unsecured and unsubordinated debt rating of at least "A+" by S&P ("S&P Qualifying Ratings"); and (3) a short-term unsecured and unsubordinated debt rating of at least "F1" by Fitch and a long-term unsecured and unsubordinated debt rating of at least "A" by Fitch ("Fitch Qualifying Ratings").

Qualifying Ratings means, with respect to BNY (or any applicable credit support provider or any party to which this Agreement may be assigned pursuant to (9)(ii) below):

Qualifying Ratings. XXXXX'X: P-1 and A2 or above A1 or above S&P: A-1 or above A+ or above FITCH: F1 and A or above A or above

Qualifying Ratings means, with respect to the debt of any entity, (1) (x) a short-term unsecured and unsubordinated debt rating of at least "P-1", and a long-term unsecured and unsubordinated debt of at least "A2" (or, if it has no short-term unsecured and unsubordinated debt rating, a long term rating of at least "A1") by Moody's ("MOODY'S FIRST LEVEL QUALIFYING RATINGS"), and (y) a short-term unsecured and unsubordinated debt rating of at least "P-2", and a long-term unsecured and unsubordinated debt of at least "A3" (or, if it has no short-term unsecured and unsubordinated debt rating, a long term rating of at least "A3") by Moody's ("MOODY'S

Qualifying Ratings means, with respect to the debt of any assignee or guarantor under Paragraph 4(9)(ii) below, Ref No. 37859 (x) a short-term unsecured and unsubordinated debt rating of “P-1” (not on watch for downgrade), and a long-term unsecured and unsubordinated debt of ”A1” (not on watch for downgrade) (or, if it has no short-term unsecured and unsubordinated debt rating, a long term rating of “Aa3” (not on watch for downgrade) by Xxxxx’x, and

Qualifying Ratings. Moody's First Level Qualifying Ratings", "Moody's Second Level Qualifying Ratings", "S&P Qualifying Ratings", "Fitch Qualifying Ratings", "Qualified Transferee", "Qualified Guarantor" and "Qualified Guaranty" have the meanings assigned in Part 5(i)(i).