Ratings Affirmation definition

Ratings Affirmation means, with respect to any particular action or proposed action, each of Standard & Poor’s Rating Services and Xxxxx’x Investors Service, Inc. or, if either or both of such ratings agencies do not then rate the Notes, such other nationally recognized statistical rating organization (as defined in the rules and regulations of the SEC) then having issued long-term debt ratings for the Notes, affirms that such long-term debt ratings will not be lowered as a result of the taking of such action or proposed action.
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Ratings Affirmation means, with respect to any particular action or proposed action, the affirmation by each of Standard & Poor's Rating Services and Xxxxx'x Investors Service, Inc. or, if either or both of such ratings agencies do not then rate the Notes, by such other nationally recognized statistical rating organization (as defined in the rules and regulations of the SEC) then having issued long-term debt ratings for the Notes, that such long-term debt ratings will not be lowered as a result of the taking of such action or proposed action.
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Ratings Affirmation means, with respect to the Incurrence of any Additional Debt or Subordinated Debt, a letter issued by a Rating Agency confirming that, after giving effect to the Incurrence of such Additional Debt or Subordinated Debt, and after taking into account all outstanding Indebtedness of the Issuer, the corporate credit rating of the Issuer is at least equal to Investment Grade Rating.
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Examples of Ratings Affirmation in a sentence

  • Ratings Affirmation On September 25, 2014, Standard & Poor’s affirmed its ratings on five classes of bonds from Oklahoma Student Loan Authority’s series 2010A, 2011-1, and 2013-1.

  • The Collections Account is permitted to be maintained with the Servicer if: (a) the Servicer is an Eligible Depository; or (b) the Servicer is not an Eligible Depository but the Servicer's obligations are supported by a Servicer Standby Guarantee or such other arrangements in respect of which the Manager has issued a Ratings Affirmation Notice.

  • Wet film thickness during application in accordance with ASTM D4414.

  • The Trustee must declare a Perfection of Title Event (of which the Trustee is actually aware) by notice in writing to the Servicer, the Manager and the Rating Agencies unless the Manager has issued a Ratings Affirmation Notice in relation to the failure to perfect the Trustee's title to the mortgages.

  • Ratings Affirmation In February, March and June of 2016, Fitch Ratings affirmed its rating on the Oklahoma Student Loan Authority’s Series 2013-1, 2011-1 and Series 2010A respectively.

  • The Required Liquidity Amount will decrease as the Notes are paid down on each Distribution Date subject to a floor of the amount equal to 0.13% (or such other percentage notified in writing by the Manager to the Trustee prior to the Closing Date and in respect of which the Manager has issued a Ratings Affirmation Notice) of the aggregate of the Invested Amount of the Notes at the Closing Date.

  • The POT Collateral may be repaid in whole or part by the Trustee to BEN if the Manager has issued a Ratings Affirmation Notice in relation to such repayment and will be repaid in full if BEN regains a Baa2 credit rating from Moody's or title to the Housing Loans has been perfected.

  • The Trustee must declare a Perfection of Title Event (of which the Trustee is actually aware) by notice in writing to the Servicer, the Manager and the Rating Agencies unless (except on the occurrence of the event specified in paragraph (c) above) the Manager has issued a Ratings Affirmation Notice in relation to the failure to perfect the Trustee's title to the mortgages.

  • Ratings Affirmation In February 2017, Fitch Ratings affirmed its rating on three of the Oklahoma Student Loan Authority’s Series 2010A, 2011-1 and 2013-1.

  • The Collections Account is permitted to be maintained with the Servicer if: (a) the Servicer is an Eligible Depository; or (b) the Servicer is not an Eligible Depository but the Servicer’s obligations are supported by a Standby Guarantee or such other arrangements in respect of which the Manager has issued a Ratings Affirmation Notice.


More Definitions of Ratings Affirmation

Ratings Affirmation means, in the case of any event or proposed event, an affirmation by each Rating Agency then rating the Notes (unless less than all the Rating Agencies then rating the Notes is specified in the applicable condition) , that its Rating of the Notes will not be lower immediately after giving effect to the event or proposed event than it was before giving effect to such event or proposed event.
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Ratings Affirmation means, with respect to any particular action or proposed action by the Company in respect of the Project, any of S&P, Moody’s or Fitch or, if any or all of such rating agencies do not then rate the Notes, such other rating agency then having issued long-term debt ratings for the Notes, affirms that the applicable rating of the Notes will not be lowered below the lower of (i) the applicable initial rating obtained by the Company in respect of the Notes on the Closing Date and (ii) the applicable rating in effect immediately prior to the action giving rise to the requirement to obtain a Ratings Affirmation.
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Ratings Affirmation means, with respect to any particular action or proposed action, the affirmation by each of Standard & Poor’s Rating Services and Xxxxx’x Investors Service, Inc. or, if either or both of such ratings agencies do not then rate the senior unsecured non-credit enhanced long-term debt of Buckeye Partners, by such other nationally recognized statistical rating organization (as defined in the rules and regulations of the SEC) then having issued long-term debt ratings for the senior unsecured non-credit enhanced long-term debt of Buckeye Partners, that such long-term debt ratings will not be lowered as a result of the taking of such action or proposed action.
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Ratings Affirmation means with respect to any particular action or proposed action, any of S&P, Moody’s or Fitch (to the extent the Notes are rated by such entities) or, if any or all of such rating agencies do not then rate the Notes, such other rating agency then having issued long-term debt ratings for the Notes, affirms that the applicable rating of the Notes will not be lowered below the lower of (i) the applicable initial rating obtained by the Company in respect of the (A) Series A Notes on the First Funding Date and (B) Series B Notes on the Second Funding Date and (ii) the applicable rating in effect immediately prior to the action giving rise to the requirement to obtain a Ratings Affirmation.
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Ratings Affirmation means with respect to any particular action or proposed action, any of S&P, Xxxxx’x or Fitch (to the extent the Notes are rated by such entities) or, if any or all of such rating agencies do not then rate the Notes, such other rating agency then having issued long-term debt ratings for the Notes, affirms that the applicable rating of the Notes will not be lowered below the lower of (i) the applicable initial rating obtained by the Company in respect of the (A) Series A Notes on the First Funding Date and (B) Series B Notes on the Second Funding Date and (ii) the applicable rating in effect immediately prior to the action giving rise to the requirement to obtain a Ratings Affirmation.
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Related to Ratings Affirmation

  • Ratings Agencies means (1) S&P, Moody’s and Fitch; and (2) if any of S&P, Moody’s and Fitch ceases to rate the Securities or ceases to make a rating on the Securities publicly available, an entity registered as a “nationally recognized statistical rating organization” (registered as such pursuant to Rule 17g-1 of the Exchange Act) then making a rating on the Securities publicly available selected by the Company (as certified by an Officers’ Certificate), which shall be substituted for S&P, Moody’s or Fitch, as the case may be.

  • Ratings Confirmation means, with respect to any action proposed to be taken, a written confirmation from each of the Rating Agencies that such action would not result in (i) a reduction of the rating for any Class of Certificates below the then current rating for such Class of Certificates or (ii) a withdrawal or suspension of the rating of any Class of Certificates.

  • Ratings Agency means any of S&P, Xxxxx’x, and Fitch (collectively the ‘Ratings Agencies’).

  • Ratings Decline means the occurrence of the following on, or within 90 days after, the date of the public notice of the occurrence of a Change of Control or of the intention by the Company or any third-party to effect a Change of Control (which period shall be extended for so long as the rating of the securities is under publicly announced consideration for possible downgrade by any of the Ratings Agencies if such period exceeds 90 days): (1) in the event that the Securities have an Investment Grade Rating by all three Ratings Agencies, the Securities cease to have an Investment Grade Rating by two of the three Rating Agencies, (2) in the event that the Securities have an Investment Grade Rating by only two Ratings Agencies, the Securities cease to have an Investment Grade Rating by both such Rating Agencies, or (3) in the event that the Securities do not have an Investment Grade Rating, the rating of the Securities by two of the three Ratings Agencies (or if there are less than three Rating Agencies rating the securities, the rating of each Rating Agency) decreases by one or more gradations (including gradations within ratings categories as well as between rating categories) or is withdrawn.

  • Hedge Counterparty Ratings Requirement means (a) either (i) the unsecured, short-term debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A-1” by S&P or (ii) if the substitute counterparty does not have a short-term rating from S&P, the unsecured, long-term senior debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A+” by S&P, (b) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A1” by Moody’s (and if rated “A1” by Moody’s, such rating is not on watch for possible downgrade to below “A1”) and the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “P-1” by Moody’s (and if rated “P-1” by Moody’s, such rating is not on watch for possible downgrade and remaining on watch for possible downgrade), or (ii) if such substitute counterparty (or its Credit Support Provider) does not have a short-term debt rating from Moody’s, the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “Aa3” by Moody’s (and if rated “Aa3” by Moody’s, such rating is not on watch for possible downgrade to below “Aa3”), and (c) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A” by Fitch or (ii) the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “F1” by Fitch. For the purpose of this definition, no direct or indirect recourse against one or more shareholders of the substitute counterparty (or against any Person in control of, or controlled by, or under common control with, any such shareholder) shall be deemed to constitute a guarantee, security or support of the obligations of the substitute counterparty.

  • Rating Confirmation means evidence that no Senior Bond rating in effect from a Rating Agency will be withdrawn or reduced solely as a result of an action to be taken under the Indenture.

  • Required Ratings [Ratings] Closing Date, Location and Time: ___________ ___, 20___; offices of Cadwalader, Wickersham & Taft, LLP, New Xxxx, Xxx Yorx; 00:00 a.m. New York City time. Purchase Price for the Offered Certificates: Class Percent of Initial Aggregate ----- Principal Balance ------------------------------ Class A % Classes B-1, B-2 and B-3 % In eaxx xxxx, as offered and sold pursuant to this Terms Agreement, plus accrued interest, if applicable, thereon. Notwithstanding any other provision of the above-referenced Underwriting Agreement, all references to the Registration Statement in the Underwriting Agreement shall be with reference to File No. _________. Subject to the terms and conditions and in reliance upon the representations and warranties set forth in the above-referenced Underwriting Agreement (which is incorporated herein in its entirety and made a part hereof) as supplemented by this Terms Agreement, the Seller agrees to sell to the Underwriter, and the Underwriter agrees to purchase from the Seller, the Offered Certificates. The Underwriter has been retained solely to act as underwriter in connection with the sale of the Offered Certificates to investors (including the establishment of the price of the Offered Certificates to investors), and no fiduciary, advisory or agency relationship between Seller and the Underwriter has been created in respect of any of the transactions contemplated by this Terms Agreement, irrespective of whether the Underwriter has advised or is advising Seller on other matters. * * * If the foregoing is in accordance with your understanding of our agreement, please sign and return to the undersigned a counterpart hereof, whereupon this letter and your acceptance shall represent a binding agreement by and among the Seller, Wells Fargo Bank, N.A. and the Underwriter. Very truly yours, WELLS FARGO ASSET SECURITIES XORPORATION By: -------------------------------------- Name: Title: WELLS FARGO BANK, N.A. By: -------------------------------------- Name: Title: The foregoing Terms Agreement is hereby confirmed and accepted as of the date first above written. COUNTRYWIDE SECURITIES CORPORATION By: ----------------------------------- Name: Title: SUPPLEMENTAL INFORMATION With respect to any investor, "Supplemental Information" means any of the following types of information, to the extent omitted from the Issuer Free Writing Prospectus:

  • Rating Agencies means DBRS, Fitch, KBRA, Xxxxx’x, Morningstar and S&P and their respective successors in interest or, if any of such entities shall for any reason no longer perform the functions of a securities rating agency, any other nationally recognized statistical rating agency reasonably designated by any Note Holder to rate the securities issued in connection with the Securitization of the related Note; provided, however, that, at any time during which the Mortgage Loan is an asset of one or more Securitizations, “Rating Agencies” or “Rating Agency” shall mean only those rating agencies that are engaged from time to time to rate the securities issued in connection with the Securitizations of the Notes.

  • Rating Agency Confirmation means, with respect to any Securitization, a confirmation in writing (which may be in electronic form) by each of the applicable Rating Agencies for such Securitization that the occurrence of the event with respect to which such Rating Agency Confirmation is sought shall not result in a downgrade, qualification or withdrawal of the applicable rating or ratings ascribed by such Rating Agency to any of the securities issued pursuant to such Securitization that are then outstanding. If no such securities are outstanding with respect to any Securitization, any action that would otherwise require a Rating Agency Confirmation shall instead require the consent of the Controlling Note Holder, which consent shall not be unreasonably withheld or delayed. For the purposes of this Agreement, if any Rating Agency shall waive, decline or refuse to review or otherwise engage any request for Rating Agency Confirmation hereunder, such waiver, declination, or refusal shall be deemed to eliminate, for such request only, the condition that a Rating Agency Confirmation by such Rating Agency (only) be obtained for purposes of this Agreement, and any requirement hereunder to obtain a Rating Agency Confirmation from any Rating Agency may be satisfied or deemed in the same manner that a Rating Agency Confirmation requirement may be satisfied or deemed satisfied under the Lead Securitization Servicing Agreement. For purposes of clarity, any such waiver, declination or refusal to review or otherwise engage in any request for a Rating Agency Confirmation hereunder shall not be deemed a waiver, declination or refusal to review or otherwise engage in any subsequent request for a Rating Agency Confirmation hereunder and the condition for Rating Agency Confirmation pursuant to this Agreement for any subsequent request shall apply regardless of any previous waiver, declination or refusal to review or otherwise engage in such prior request.

  • Rating Downgrade means either:

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Ratings As of any date of determination, the ratings, if any, of the Certificates as assigned by the Rating Agencies.

  • Ratings Spread means, with respect to an SRP Calculation Period, the percentage per annum set forth below opposite the highest applicable credit rating assigned to the VRDP Shares, unless the lowest applicable rating is below A3/A-, in which case the Ratings Spread shall mean the percentage per annum set forth below opposite the lowest applicable credit rating assigned to the VRDP Shares by Moody’s, Fitch or any Other Rating Agency, in each case rating the VRDP Shares at the request of the Fund, on the SRP Calculation Date for such SRP Calculation Period:

  • Standard & Poor's Glossary The Standard & Poor's LEVELS(R) Glossary, as may be in effect from time to time.

  • S&P Global Ratings means S&P Global Ratings, a division of S&P Global.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Rating means the operating limits as specified by the component manufacturer.

  • DBRS means DBRS, Inc., and its successors in interest.

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Fitch means Fitch Ratings, Inc., and its successors in interest.

  • Standard & Poor s” or “S&P” means S&P Global Ratings, a division of S&P Global Inc., a corporation organized and existing under the laws of the State of New York, and its successors and assigns, and, if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, Standard & Poor's shall be deemed to refer to any other nationally recognized securities rating agency designated by the Issuer.

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

  • Required Rating means, in the case of Moody's, the rating assigned to the Underlying Securities by Moody's as of the Closing Date, and, in the case of S&P, the rating assigned to the Underlying Securities by S&P as of the Closing Date.