Rating Comfort Letter definition

Rating Comfort Letter means a letter issued by each of the applicable Rating Agencies which confirms that the taking of the action referenced to therein will not result in any qualification, withdrawal or downgrading of any existing ratings of Securities created in a Secondary Market Transaction.

Examples of Rating Comfort Letter in a sentence

It is expressly agreed and understood, however, that receipt of a Review Waiver (i) from any one Rating Agency shall not be binding or apply with respect to any other Rating Agency and (ii) with respect to one matter shall not apply or be deemed to apply to any subsequent matter for which Rating Comfort Letter is required.
Borrower may from time to time appoint a successor manager to manage the Property, provided that such successor manager and Management Agreement shall be approved in writing by Lender in Lender’s discretion and the applicable Rating Agencies (and Lender’s approval may be conditioned upon Borrower delivering a Rating Comfort Letter as to such successor manager and Management Agreement).
So long as any portion of the ------------------------ Debt shall remain outstanding, the General Partner shall not (a) incur any Indebtedness except in its capacity as the general partner of the Borrower or (b) withdraw as a general partner of the Borrower unless the remaining or substitute general partner satisfies the single purpose entity criteria of the Rating Agencies and the Rating Agencies have delivered a Rating Comfort Letter.
Borrower may from time to time appoint a successor Manager to manage the Property, provided that such successor Manager and corresponding replacement Management Agreement shall be approved in writing by Lender (in Lender’s discretion), which approval may, if required by Lender, be conditioned upon Borrower delivering a Rating Comfort Letter as to such successor manager and Management Agreement.
Except as permitted by the Loan Agreement, Borrower and Manager shall not (a) cancel, release, terminate, or surrender, (b) amend, modify or supplement or (c) assign the Management Agreement without the prior written consent of Lender, and, if the Securitization has occurred, receipt of a Rating Comfort Letter from each Rating Agency with respect thereto.

More Definitions of Rating Comfort Letter

Rating Comfort Letter a letter issued by each of the applicable Rating Agencies which confirms that the taking of the action referenced to therein will not result in any qualification, withdrawal or downgrading of any existing ratings of Securities created in a Securitization or, if a Securitization has not occurred, any ratings to be assigned in connection with a Securitization. REIT: Mxxxxxx Properties, Inc., a Maryland corporation. Rents: all rents, rent equivalents, moneys payable as damages (including payments by reason of the rejection of a Lease in a Bankruptcy Proceeding) or in lieu of rent or rent equivalents, royalties (including all oil and gas or other mineral royalties and bonuses), income, fees, receivables, receipts, revenues, deposits (including security, utility and other deposits), accounts, cash, issues, profits, charges for services rendered, and other payment and consideration of whatever form or nature received by or paid to or for the account of or benefit of Borrower, Manager or any of their agents or employees from any and all sources arising from or attributable to the Property, and the Improvements, including all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of the Property or rendering of services by Borrower, Manager or any of their agents or employees and proceeds, if any, from business interruption or other loss of income insurance.

Rating Comfort Letter a letter issued by each of the applicable Rating Agencies at Borrower’s sole cost and expense, which confirms that the taking of the action referenced to therein will not result in any qualification, withdrawal or downgrading of any existing ratings of Securities created in a Secondary Market Transaction. Rents: without duplication, all rents, rent equivalents, moneys payable as damages (including payments by reason of the rejection of a Lease in a Bankruptcy Proceeding) or in lieu of rent or rent equivalents, royalties (including all oil and gas or other mineral royalties and bonuses), income, fees, receivables, receipts, revenues, deposits (including security, utility and other deposits), accounts, cash, issues, profits, charges for services rendered, all Lease Termination Payments, and other payment and consideration of whatever form or nature received by or paid to or for the account of or benefit of Borrower or any of their agents or employees, including without limitation, Manager, from any and all sources arising from or attributable to the Property and the Improvements, including all revenues and credit card receipts collected from or with respect to guest rooms, restaurants that are owned and operated by Borrower or on behalf of Borrower, bars that are owned and operated by Borrower or on behalf of Borrower, mini-bars, meeting rooms, banquet rooms and recreational facilities, parking charges, all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of the Property or rendering of services by Borrower or any of their agents or employees, including, without limitation, Manager, of the hotel or the commercial space located in the Improvements or acquired from others (including from the rental of any office space, retail space, guest rooms or other space, halls, stores and offices, and deposits securing reservations of such space to the extent Borrower is entitled to retain such deposits), health club membership fees, food and beverage wholesale and retail sales, service charges, vending machine sales, and proceeds, if any, from business interruption or other loss of income insurance.

Rating Comfort Letter a letter issued by each of the applicable Rating Agencies which confirms that the taking of the action referenced to therein will not result in any qualification, withdrawal or downgrading of any existing ratings of Securities created in a Securitization or, if a Securitization has not occurred, any ratings to be assigned in connection with a Securitization. REA(s): those certain reciprocal easement agreements contemplated by the Development Agreements. REIT: Xxxxxxx Properties, Inc., a Maryland corporation. Release Parcels: collectively, (i) the airspace parcels to be created above the portion of the Lantana North Property known as "Lantana East" and (ii) the airspace parcels to be created above the portion of the Lantana South Property known as "Lantana South", each as contemplated by the Development Agreements, and which parcels are more particularly shown on the Parcel Map attached hereto as Schedule 6. Additionally (and without limiting the foregoing), in the event that Borrowers elect not to subdivide such parcels into separate airspace parcels (and Borrowers elect to subdivide and convey their respective fee interests in the portion of the Lantana North Property known as "Lantana East" and the portion of the Lantana South

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