Ratings Requirement definition

Ratings Requirement. With respect to the Rate Protection Provider, (i) a long-term senior unsecured debt rating or credit rating of at least “A1” by Xxxxx’x and a short-term credit rating of “P-1” by Xxxxx’x and (ii) a long-term senior unsecured debt rating or credit rating of at least “A+” by Standard & Poor’s and a short-term senior unsecured debt rating or issuer credit rating of at least “A-1” by Standard & Poor’s.

Ratings Requirement. With respect to any action to which the Ratings Requirement applies, that each Rating Agency shall have been given 10 days (or such shorter period as is acceptable to each Rating Agency) prior notice thereof and that each Rating Agency shall have notified the Depositor and the Trustee in writing that such action will not result in a reduction or withdrawal of the then current rating of the rated Certificates.

Ratings Requirement means a Credit Rating for such Owner (or if such Owner has provided a guaranty issued by an Affiliate to satisfy its obligations under this Section 4.3, such Owner’s Affiliate guarantor) of at least “BBB-” by S&P or at least Baa3 by Moody’s, and if such Credit Rating is “BBB-” by S&P or “Baa3” by Moody’s then such Credit Rating must not be on negative credit watch by S&P or Moody’s.

Examples of Ratings Requirement in a sentence

• So long as a Second Trigger Failure Condition has occurred and is continuing, Party A shall use commercially reasonable efforts to, as soon as reasonably practicable, either (i) furnish an Eligible Guarantee of Party A’s obligations under this Agreement from a guarantor that satisfies the Hedge Counterparty Ratings Requirement, or (ii) transfer its obligations under this Agreement in accordance with Part 5(e) below.

• The rights granted the Credit Parties under this section will be available from time to time to the extent Unit satisfies the Ratings Requirement.

• All collateral posted by Party A shall be returned to Party A immediately upon Party A securing a substitute counterparty that satisfies the Swap Counterparty Ratings Requirement.

• On the Closing Date (or any date on which the Issuer enters into a replacement Hedge Agreement), (i) the Hedge Counterparty entering into such Hedge Agreement shall satisfy the Hedge Counterparty Ratings Requirement and (ii) the Issuer shall assign such Hedge Agreement to the Trustee pursuant to this Indenture and the Collateral Assignment of Hedge Agreement.

• Such election shall be made no more often than once per calendar quarter, unless the Administrative Agent has determined in its reasonable discretion that a Material Adverse Change has occurred or could reasonably be expected to occur or that general economic or market conditions have materially and adversely affected the market value or credit quality of the Loans, in which case there shall be no limit to the number of Ratings Requirement Bring-Downs.

More Definitions of Ratings Requirement

Ratings Requirement means the obligation of the Owner to obtain a preliminary long term credit rating (at no particular required rating level) with respect to the Senior Notes from the Rating Agency with respect to the current payment of interest of the Senior Notes and ultimate payment of principal of the Senior Notes on Final Legal Maturity.

Ratings Requirement means the obligation of the Borrower to obtain an initial explicit, public and monitored rating from Standard & Poor’s of (i) “A” or better with respect to the Class A Loans and (ii) “BBB” or better with respect to the Class B Loans.

Ratings Requirement means the obligation of the Owner to obtain a preliminary long term credit rating (at no particular required rating level) with respect to the Notes, from the Rating Agency with respect to the current payment of interest and ultimate payment of principal on Final Legal Maturity.

Ratings Requirement means Unit’s unsecured corporate rating is (i) BBB- or better with respect to any rating issued by S&P (without negative outlook or negative watch), or (ii) Baa3 or better with respect to any rating issued by Xxxxx’x (without negative outlook or negative watch), provided, if Unit only satisfies one of the ratings set forth above, Unit shall still be deemed to have satisfied the Ratings Requirement so long as Unit satisfies one of the two ratings above and has an unsecured corporate rating of at least (x) BB+ with respect to S&P (without negative outlook or negative watch), if Unit otherwise satisfies the rating set forth in clause (ii) above and (y) Ba1 with respect to Xxxxx’x (without negative outlook or negative watch), if Unit otherwise satisfies the rating set forth in clause (i) above.

Ratings Requirement means the requirement that the senior unsecured long-term debt of the Parent be rated at least A- by Standard & Poor's Ratings Group and A3 by Xxxxx'x Investors Service, Inc.

Ratings Requirement means Axiall having received a corporate family credit rating of at least Ba3 from Xxxxx’x and BB- from S&P; provided, that to the extent that any such ratings change occurs during any calendar quarter, the required adjustment to the Applicable Margin or Applicable Unused Commitment Fee shall take effect on the first day of the calendar quarter following the date of such ratings change.

Ratings Requirement means the long-term debt of the Company shall have received a rating of not less than (i) BBB-, by Standard and Poor's Ratings Corporation, and (ii) Baa3, by Xxxxx'x Investors Service, Inc.