Ratings Confirmation definition

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 Confirmation. Has the meaning specified in the Intercreditor Agreement.

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

Examples of Ratings Confirmation in a sentence

• An amendment described above shall be deemed not to adversely affect in any material respect the interests of the Noteholders if either (i) an Opinion of Counsel is obtained to such effect or (ii) the party requesting the amendment obtains the Ratings Confirmation with respect to such amendment.

• The Company shall have obtained the Rating Agency Confirmation with respect to the Class AA Certificates and the Class A Certificates required by Section 4(a)(v) of the Note Purchase Agreement (as in effect immediately prior to the Series B Closing) and the Ratings Confirmation with respect to the Class AA Certificates and the Class A Certificates required by Section 8.01(d) of the Intercreditor Agreement (as in effect immediately prior to the Series B Closing).

• No appointment of a successor Subordination Agent shall be effective unless and until the Rating Agencies shall have delivered a Ratings Confirmation.

• The Subordination Agent agrees not to consent to the assignment by any Liquidity Provider of any of its rights or obligations under any Liquidity Facility or any interest therein, unless (i) Continental shall have consented to such assignment and (ii) each Rating Agency shall have provided a Ratings Confirmation in respect of such assignment.

• This Insurance Agreement may be amended, modified, supplemented or terminated only by written instrument or written instruments signed by the parties hereto; provided that if such amendment, modification, supplement or termination would have a material adverse affect on the interests of the Subordination Agent, a Pass Through Trustee or any Certificateholder, Ratings Confirmation shall also be obtained prior to such amendment, modification, supplement or termination being effective.

More Definitions of Ratings Confirmation

Ratings Confirmation means, with respect to any action proposed to be taken, a written confirmation from each of the Rating Agencies with respect to the applicable Series of Notes that such action would not result in (i) a reduction of the rating for such Series of Notes below the then current rating for such Series of Notes (such rating, in the case of the Securities, as determined without regard to the Policy) or (ii) a withdrawal or suspension of the rating of such Series of Notes.

Ratings Confirmation. With respect to a contemplated action to be undertaken or performed pursuant to this Agreement, a written confirmation from each Rating Agency to the effect that such action will not result in or cause the downgrading, withdrawal or qualification of the rating that would otherwise be assigned by such Rating Agency to the Notes [without the benefit of the Guaranty Policy provided by the Securities Insurer].

Ratings Confirmation has the meaning specified in Section 7.18(d).

Ratings Confirmation in respect of a proposed action means a confirmation by the relevant Rating Agencies, in respect of each class of the relevant Bonds, to the effect that the then ratings on such class of Bonds would not be reduced below the lower of (i) the credit ratings of such Bonds as at the Initial Issue Date or (ii) the then current credit ratings (before the proposed action).

Ratings Confirmation means the written recommendations from the Rating Agencies to the effect that the subject transaction will not result in a requalification, reduction or withdrawal of any rating initially assigned or to be assigned in a Secondary Market Transaction.

Ratings Confirmation means the written confirmation by each Rating Agency (if required pursuant to the immediately preceding paragraph), requested within ten Business Days after the Invested Date or as otherwise requested pursuant to the requirements of the Indenture, that such Rating Agency has not reduced or withdrawn any of its ratings assigned on the Closing Date to the Rated Notes.

Ratings Confirmation has the meaning set forth in the Note Purchase Agreement.