Rating Default definition

Rating Default means the rating of the Series B Preferred Stock falls below a BBB- rating. For the avoidance of doubt, a Rating Default will not occur or be occurring if the holders of the Series B Preferred Stock determine that the Corporation no longer needs to maintain a rating for the Series B Preferred Stock or the Corporation is unable to engage a rating agency to provide a rating for the Series B Preferred Stock.
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Rating Default means the rating of the Series A Preferred Stock falls below a BBB- rating. For the avoidance of doubt, a Rating Default will not
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Rating Default has the meaning set forth in Section 3(c)(ii).
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Examples of Rating Default in a sentence

  • The NA percentage is comprised of 100 percent of the Market Participant’s or FTR Bidder’s Credit Rating Default Probability.

  • The TNW percentage is comprised of 50 percent (50%) of the Market Participant’s or FTR Bidder’s Credit Rating Default Probability and 50 percent (50%) of the MKMV Default Probability.

  • The median ICR-correlation estimate is 41,41% while the mean is 39.28%.Level 3.3 Distribution of Bond Ratings and Bond Rating Default Rates The bonds in the sample banks portfolio are rated by either Standard and Poor's, Moody's or has a shadow rating.

  • Step 2 - Calculate the Market Participant’s or FTR Bidder’s Average Rating Default Probability (ARDP).

  • The company calculates Estimated Credit Losses on all third party trade receivables (including accruals) by reference to a loss given default multiplied by the probability of default (PD), derived from the median of Bloomberg Default Risk, Rating Default Risk assigned by three leading rating agencies (S&P, Moody’s and Fitch), Credit Default Swap Derived Default Risk and Bond Derived Default Risk.

  • The revised factors and their components are set forth in the table below: Whole Letter Rating Default Rate Severity Rate GOA Factor Ver.

  • One can see a sharp increase in the default rates during the crisis of 2008.Table IIIBond Rating Default RatesThis table presents the default rate in percent each year for a certain rating.

  • The company calculates the IFRS 9 impact on contract assets by reference to a loss given default multiplied by the probability of default (PD), derived from the median of Bloomberg Default Risk, Rating Default Risk assigned by three leading rating agencies (S&P, Moody’s and Fitch), Credit Default Swap Derived Default Risk and Bond Derived Default Risk.

  • The occurrence, after giving effect to any applicable grace or cure period, of a Rating Default, under the Credit Agreement, as defined therein.

  • In calculating the Fitch Rating Default Rate in respect of the Notes, the Fitch PCM considers each Obligor's issuer credit rating, the number of Obligors in the proposed Portfolio, the Obligor, country and industry concentrations in the proposed Portfolio and the remaining weighted average life of the proposed Portfolio and calculates a cumulative default rate based on the statistical probability of distributions or defaults on the proposed Portfolio.

Related to Rating Default

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Funding Default as defined in Section 2.22.

  • Reporting Default means a Default described in Section 6.01(d).

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Specified Default means a Default under Section 8.01(a), (f) or (g).

  • Potential Default means the occurrence of any event or condition which, with the giving of notice, the passage of time, or both, would constitute an Event of Default.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Existing Defaults means, collectively, the Events of Default identified on Exhibit A hereto.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Rating Downgrade means either:

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • Adverse Rating Event With respect to any Class of Rated Certificates and any Rating Agency that has assigned a rating thereto, as of any date of determination, the qualification, downgrade or withdrawal of the rating then assigned to such Class of Rated Certificates by such Rating Agency (or the placement of such Class of Rated Certificates on “negative credit watch” status in contemplation of any such action with respect thereto).

  • Unmatured Default means an event which but for the lapse of time or the giving of notice, or both, would constitute a Default.

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).