Rating Agency Affirmation definition

Rating Agency Affirmation means, with respect to any action that is specified to be subject to Rating Agency Affirmation in the Conditions or any Transaction Document, the prior affirmation from each Rating Agency, in the form (if any) specified for such purpose by such Rating Agency in accordance with any applicable internal requirements of such Rating Agency, that the then current rating of the Notes will not be adversely affected or withdrawn as a result of such action being undertaken, provided that it is the then current policy of such Rating Agency to either affirm or disaffirm the relevant type of action prior to such action being taken.

Rating Agency Affirmation means, for so long as any Senior Notes are rated by one or more Rating Agency, with respect to any specified action, determination or appointment, receipt by the Issuer (and sent to the Issuer Security Trustee and the Transaction Agent) of written confirmation (or such other method of confirmation which may be agreed from time to time with the relevant Rating Agency) from the relevant Rating Agency that such specified action, determination or appointment will not result in the reduction, or withdrawal, of the ratings then assigned to the Senior Notes.

Rating Agency Affirmation means, with respect to any specified action or determination, receipt of written affirmation from Fitch that such specified action or determination will not have an adverse effect on, or result in a reduction of, its then current rating of the Note.

Examples of Rating Agency Affirmation in a sentence

• Under the Trust Deed, the Issuer shall use all reasonable endeavours to procure the substitution as principal debtor under the Trust Deed and the Notes, the Receipts, the Coupons and the Talons of a company incorporated in some other jurisdiction if a Tax Substitution Event occurs, subject to the approval of the Swap Counterparty and provided that Rating Agency Affirmation has been received at the time of substitution from each Rating Agency.

• In the case of such a substitution the Trustee may agree, without the consent of the Noteholders or the Couponholders, to a change of the law governing the Notes, the Receipts, the Coupons, the Talons and/or the Trust Deed provided that such change would not in the opinion of the Trustee be materially prejudicial to the interests of the Noteholders and that Rating Agency Affirmation has been received at the time of such change from each Rating Agency.

• The Issuer will promptly (but in any event, within 21 Business Days of demand) reimburse the Trustee for its costs in relation thereto (including all legal fees and any other expenses incurred) and the Trustee may consider any Rating Agency Affirmation provided in connection with such determination, whether or not such Rating Agency Affirmation is addressed to the Trustee.

• In the case of such a substitution the Trustee may agree,without the consent of the Noteholders or the Couponholders, to a change of the law governing the Notes, the Receipts, the Coupons, the Talons and/or the Trust Deed provided that such change would not in the opinion of the Trustee be materially prejudicial to the interests of the Noteholders and that Rating Agency Affirmation has been received at the time of such change from each Rating Agency.

• In circumstances of notice of retirement or removal the Issuer shall procure the appointment of a new trustee as soon as reasonably practicable and such retirement or removal shall not become effective until a successor trustee has been appointed subject to Rating Agency Affirmation.

More Definitions of Rating Agency Affirmation

Rating Agency Affirmation means, with respect to any specified action or determination, receipt of written confirmation from S&P that such specified action or determination will not have an adverse effect on, or result in a reduction of, its then current rating of the Notes. (xiii) No Set-Off

Rating Agency Affirmation means written affirmation from the Rating Agency that the then current ratings by the Rating Agency of the Notes will not be adversely affected.

Rating Agency Affirmation means, in relation to a Series of Securities that is rated by Moody's the notification of the relevant event specified in the Issue Terms to Moody's and confirmation from Moody's that there has been no adverse change to the credit rating granted by Moody's in respect of such Securities.

Rating Agency Affirmation means, the prior affirmation from Moody’s, if Moody’s is then rating the outstanding Notes at the request of the Issuer (if any), in the form (if any) specified for such purpose by Moody’s in accordance with any applicable internal requirements of Moody’s, and in circumstances where Moody’s is not willing to issue a Rating Agency Affirmation due to its then prevailing policy regarding the issue of Rating Agency Affirmations, an authorised signatory of the Issuer (or the Note Swap Counterparty on its behalf) has certified in writing to the Trustee that, in its opinion (and where Moody’s was prepared to consult with the Issuer (or the Note Swap Counterparty, as applicable) its opinion is based on consultation with Moody’s), that the then current rating of the Notes will not be adversely affected or withdrawn as a result of such action being undertaken.

Rating Agency Affirmation means with respect to any specified action or determination, receipt by the Issuer of written affirmation by the Rating Agencies or applicable Rating Agency, for so long as the Senior Debt and other Rated Notes are Outstanding and rated by the Rating Agencies, that such specified action or determination will not result in the reduction or withdrawal of its then-current ratings on the Senior Debt or other Rated Notes.

Rating Agency Affirmation means with respect to any specified action or determination, the receipt of written confirmation from the relevant Rating Agencies or Rating Agency (for so long as the Notes are Outstanding and such Notes are rated by them) that such specified action or determination will not result in the reduction or withdrawal of their then current rating of the Notes.

Rating Agency Affirmation means, with respect to any action relating to the Notes (including in respect of the Onshore Notes) that is specified to be subject to Rating Agency Affirmation, the prior affirmation from such of the Rating Agencies (if any) as then rate the Notes at the request of the Company, in the form (if any) specified for such purpose by the relevant Rating Agency in accordance with any applicable internal requirements of such Rating Agency, that the then current rating of the Notes will not be adversely affected or withdrawn as a result of such action being undertaken, provided that if it is the then current policy of such Rating Agency not to either affirm or disaffirm the relevant type of action prior to such action being taken, then no such Rating Agency Affirmation will have been given.