Ratings Reaffirmation means a written acknowledgement from each Rating Agency whose rating on Party A was reduced or withdrawn that, taking into account the Credit Support or the Replacement Transaction provided, as applicable, (i) the then current rating of the Notes will not be reduced notwithstanding the applicable Downgrade, or (ii) the rating of the Notes in effect prior to the Downgrade will be reinstated to the rating in effect prior to the Downgrade.
Ratings Reaffirmation means, in the case of an event or proposed event, a reaffirmation by any two of the Rating Agencies rating the Notes that the then current Ratings on the Notes will not be lower, after giving effect to the event or proposed event, than the Ratings of the Notes in effect immediately prior to such event or proposed event.
Ratings Reaffirmation means an affirmation of ratings from each Rating Agency that the Counterparty (or proposed counterparty in the event of a proposed transfer or replacement of Party A), with applicable credit enhancement, meets the Counterparty Ratings Requirement.
Examples of Ratings Reaffirmation in a sentence
No assignments, amendment, modification or waiver in respect of this Agreement will be effective unless, in addition to meeting the requirements otherwise set forth herein, a Ratings Reaffirmation has been obtained.
No transfers, assignments, amendment, modification or waiver in respect of this Agreement will be effective unless, in addition to meeting the requirements otherwise set forth herein, a Ratings Reaffirmation has been obtained.
Party A shall then, at its own expense, (x) comply with or perform any obligation to be complied with or performed by Party A in accordance with the Credit Support Annex and (y) within 60 days of the date of the S&P Required Ratings Downgrade subject to Part 5(r), enter into a Qualifying Substitute Arrangement to assure performance by Party A of its obligations under the Transactions or otherwise procure the Ratings Reaffirmation.
Notwithstanding Section 6 of the Agreement, no transfer by Party A shall be effective unless Party A obtains Party B’s consent and a Ratings Reaffirmation prior to such transfer.
On each Ratings Reaffirmation Date or within 30 days thereafter, the Servicer shall obtain from S&P and Moody's written reaffirmations that each Class of Notes have at least the Requisite Ratings and shall distribute copies thereof to the Administrative Agent and the Agents.
More Definitions of Ratings Reaffirmation
Ratings Reaffirmation means, with respect to any transfer to a Qualified Owner, that each of S&P and Mxxxx’x shall have delivered a written confirmation that the credit ratings assigned by such entities to the Tranche B Term Facility made or committed hereunder shall be no lower than such ratings assigned by such Rating Agency, as the case may be, to such Tranche B Term Facility immediately prior to the time that such Rating Agency became aware of the proposed occurrence of such transfer and all transactions related thereto, in each case after giving effect to the occurrence of such proposed transfer, and all transactions related thereto.
Ratings Reaffirmation means the reaffirmation by any one Ratings Agency that the Loans (or, if the Loans are not rated by any Ratings Agency, the corporate family of Borrower and its Subsidiaries) will remain rated at least the lower of (x) BB (if rated by S&P) / Ba2 (if rated by Moody’s) / BB (if rated by Fitch) (or if S&P, Xxxxx’x and Fitch no longer rate the Loans or the corporate family of Borrower and its Subsidiaries, as applicable, the equivalent rating from such other “nationally recognized statistical rating organization” registered with the SEC as determined by Borrower) and (y) the rating assigned to the Loans (or, if the Loans are not rated by any Ratings Agency, the corporate family rating of Borrower and its Subsidiaries) by the applicable Ratings Agency immediately preceding the Rating Decline Trigger Event, in the case of each of clauses (x) and (y), after giving effect to the applicable proposed non-recurring Restricted Payment or Prepayment Change of Control.
Ratings Reaffirmation means the reaffirmation by any one Ratings Agency that the Loans (or, if the Loans are not rated by any Ratings Agency, the corporate family of Borrower and its Subsidiaries) will remain rated at least the lower of (x) BB (if rated by S&P) / Ba2 (if rated by Moody’s) / BB (if rated by Fitch) (or if S&P, Moody’s and Fitch no longer rate the Loans or the corporate family of Borrower and its Subsidiaries, as applicable, the equivalent rating from such other “nationally recognized statistical rating organization” registered with the SEC as determined by Borrower) and (y) the rating assigned to the Loans (or, if the Loans are not rated by any Ratings Agency, the corporate family rating of Borrower and its Subsidiaries) by the applicable Ratings Agency immediately preceding the Rating Decline Trigger Event, in the case of each of clauses (x) and (y), after giving effect to the applicable proposed non-recurring Restricted Payment, Prepayment Change of Control, or incurrence of Indebtedness by Borrower pursuant to
Ratings Reaffirmation means, with respect to any applicable transaction, that S&P and Xxxxx’x (if Xxxxx’x shall have assigned Credit Ratings to the Facilities) shall have delivered a written confirmation that the credit ratings assigned by S&P and Xxxxx’x (if Xxxxx’x shall have assigned Credit Ratings to the Facilities) to the Facilities and under the Tax-Exempt Bonds shall be no lower than such ratings assigned by S&P and Xxxxx’x (if Xxxxx’x shall have assigned Credit Ratings to the Facilities) to each of the Facilities and the Tax-Exempt Bonds immediately prior to the time that S&P and Xxxxx’x (if Xxxxx’x shall have assigned Credit Ratings to the Facilities) became aware of the proposed occurrence of such event and all transactions related thereto (including, in the case of the incurrence of any Debt, the use of proceeds thereof), in each case after giving effect to the occurrence of such proposed transaction and all transactions related thereto (and without giving effect to any of the Insurance Policies).
Ratings Reaffirmation means, in the case of an event or proposed event, a reaffirmation by each of S&P and Moody’s that the then current ratings respectively assigned by such entities to the Term Loan Facility will not be lower, after giving effect to the event or proposed event, than the ratings respectively assigned by such entities to the Term Loan Facility immediately prior to such event or proposed event.
Ratings Reaffirmation means written notice from each Credit Rating Agency that, after taking into account any event or action causing such Ratings Reaffirmation to be required, its rating of all Capital Markets Senior Debt will be equal to or higher than its then-current rating of such Capital Markets Senior Debt, without negative implication.
Ratings Reaffirmation means, with respect to a specified event, a written confirmation from two or more Rating Agencies that a lowering of the then-current credit ratings of the Bonds will not result from such event.