Ratings Effect definition

Ratings Effect means, with respect to any action or series of related actions or proposed transaction or series of related proposed transactions, a reduction or withdrawal of the rating of any outstanding Class with respect to which a Rating Agency has previously issued a rating as a result of such action or series of related actions or the consummation of such proposed transaction or series of related transactions.

Ratings Effect means a reduction, qualification with negative implications or withdrawal of any then current rating of the Notes.

Ratings Effect means a reduction, qualification or withdrawal of any then current rating of the Notes.

Examples of Ratings Effect in a sentence

• Such representations and warranties shall not be waived by any of the parties to this Terms Document unless the Issuer has obtained written confirmation from each Note Rating Agency that there will be no Ratings Effect with respect to such waiver.

• The Calculation Agent on behalf of the Issuer shall not be required to obtain confirmation from the applicable Note Rating Agencies that such delay in the commencement of the Accumulation Period will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

• The Calculation Agent on behalf of the Issuer shall not be required to obtain confirmation from the applicable Note Rating Agencies that any such adjustment in the commencement of the Accumulation Period will not result in a Ratings Effect for any Tranche of Outstanding DiscoverSeries Notes.

• Such representations and warranties shall not be waived by any of the parties to this Indenture Supplement unless the Issuer has obtained written confirmation from each Note Rating Agency that there will be no Ratings Effect with respect to such waiver.

• Notwithstanding the foregoing in this Section 4.01, if an Early Redemption Event (other than an Early Redemption Event specified in clause (3) or (10) above) has occurred and the scheduled termination of the Revolving Period has not occurred, the Indenture Trustee shall request from Standard & Poor's a confirmation that such Early Redemption Event will not cause a Ratings Effect.

More Definitions of Ratings Effect

Ratings Effect has the meaning specified in the Indenture.

Ratings Effect means, with respect to any Rated Securities, the qualification, downgrading or withdrawal of the rating then assigned to such Rated Securities by a related Rating Agency.

Ratings Effect means, with respect to any action and any Rating Agency, that such action will not result in such Rating Agency reducing or withdrawing its rating of any outstanding Series or Class of Certificates with respect to which it is a Rating Agency.

Ratings Effect means a reduction or withdrawal of a rating on a class of Notes by a Rating Agency.

Ratings Effect means a reduction or withdrawal by any Note Rating Agency of any then current rating of the Notes of any Series, Class or Tranche (other than as a result of the termination of a Note Rating Agency); provided, however, that any reduction or qualification with negative implications shall not be considered a Ratings Effect unless the rating as so reduced (or as such rating would be reduced after giving effect to such negative implications) is less than the Specified Rating set forth in the applicable Indenture Supplement.

Ratings Effect means, with respect to any proposed action, including the issuance of Notes or Bonds, that such action will in and of itself result in the Rating Agency reducing or suspending its rating of any Series or Class of Trust Indebtedness outstanding;

Ratings Effect means any reduction or withdrawal by any Rating Agency of the rating issued by such Rating Agency at the issuance of any securities in connection with a Financing, including any underlying rating (or shadow rating) provided to any Series Enhancer as if such securities were issued without the benefit of any Series Enhancement provided by such Series Enhancer.