Ratings Trigger definition

Ratings Trigger means the Account Bank Threshold Ratings, the Cash Manager Required Ratings, the Cash Management Deposit Ratings, the Fitch Demand Loan Repayment Ratings, the Pre-Maturity Minimum Ratings, the Reserve Fund Required Amount Ratings, the Servicer Deposit Threshold Ratings, the Servicer Replacement Threshold Ratings, the Contingent Collateral Ratings and the Swap Agreement Ratings;

Ratings Trigger means, as of any date of determination, the Borrower has a Credit Rating equal to or higher than BB by S&P and equal to or higher than Ba2 by Moody’s, in each such case with a “stable” or better outlook.

Ratings Trigger means, with respect to Sempra Energy, Sempra Energy or the ultimate parent company of Sempra Energy (if not Sempra Energy) does not have a current rating for long-term unsecured unsubordinated debt published by any one Ratings Agency that is equivalent to or better than a rating of BBB- from S&P, and with respect to RBS, means RBS does not have a current rating for long-term unsecured unsubordinated debt published by any one Ratings Agency that is equivalent to or better than a rating of A+ from S&P;

Examples of Ratings Trigger in a sentence

• For certainty, any amendment to (a) a Ratings Trigger provided for in this Agreement that lowers the ratings specified therein, or (b) the consequences of breaching a Ratings Trigger provided for in this Agreement that makes such consequences less onerous, shall, with respect to each affected Rating Agency only, be deemed to be a material amendment and shall be subject to confirmation of the satisfaction of the Rating Agency Condition from each affected Rating Agency.

• For certainty, any amendment to (a) a Ratings Trigger provided for in this Agreement that lowers the ratings specified therein, or (b) the consequences of breaching a Ratings Trigger provided for in this Agreement that makes such consequences less onerous, shall, with respect to each affected Rating Agency only, be deemed to be a material amendment and shall be subject to Rating Agency Confirmation from each affected Rating Agency.

• For certainty, any amendment to (a) a Ratings Trigger provided for in this Agreement that lowers the ratings specified therein, or (b) the consequences of breaching a Ratings Trigger provided for in this Agreement that makes such consequences less onerous, shall, with respect to each affected Rating Agency only, be deemed to be a material amendment and shall be subject to satisfaction of the Rating Agency Condition.

• For certainty, any amendment to (a) a Ratings Trigger provided for in this Agreement that lowers the ratings specified therein, or (b) the consequences of breaching a Ratings Trigger provided for in this Agreement that makes such consequences less onerous, shall be deemed to be a material amendment.

• The Borrower shall maintain, at all times during a Debt Ratings Trigger Period, a Present Value to Consolidated Funded Debt Ratio of at least 1.50 to 1.0. From and after the Fourth Amendment Effective Date, the first date for measurement of the Present Value to Consolidated Funded Debt Ratio shall be March 31, 2015.” (w)Amendment to Section 7.13.

More Definitions of Ratings Trigger

Ratings Trigger means (i) a downgrade in ratings below a minimum rating (or a withdrawal of ratings) or (ii) a breach of such other financial test as may reasonably be expected to confirm financial soundness, in each case requiring remedial action to be taken within a reasonable period (where the minimum rating, remedial action and time period for remedy are expressly provided for in the relevant transaction document of the registered covered bond program).

Ratings Trigger means the earlier of (a) the date that S&P reduces the Public Debt Rating so that it is lower than BBB- or (b) the date that Moody's reduces the Public Debt Rating so that it is lower than Baa3.

Ratings Trigger means, as of any date of determination, the Borrower has a Credit Rating equal to or higher than BB by S&P and equal to or higher than Ba2 by Xxxxx’x, in each such case with a “stable” or better outlook.

Ratings Trigger means the achievement by the Issuer of a rating on its long-term secured debt from two or more Rating Agencies of a rating equal to or higher than (a) B3 (or the equivalent) in the case of Moody’s, (b) B- (or the equivalent) in the case of S&P and (c) B- (or the equivalent) in the case of Fitch.

Ratings Trigger means (i) a downgrade in ratings below a prescribed minimum rating (or a withdrawal of ratings) or (ii) a breach of such other financial test as may reasonably be expected to confirm financial soundness, in each case requiring remedial action to be taken.

Ratings Trigger means a provision in a Bank Credit Agreement Change in Control Provision (or related covenant, provision or event of default), to the effect that unless a related Ratings Downgrade or other downgrade or decrease in any rating of the Company or any of its Rated Securities occurs in relation to or as a result of a Change in Control or other change in ownership or control, and notwithstanding a Change in Control or other change of ownership or control of all or a portion of the Company’s Capital Stock, no default, event of default, put right or mandatory prepayment with respect to the relevant Indebtedness would occur under such Bank Credit Agreement, and no restriction on such Change in Control or other change in ownership or control would exist.

Ratings Trigger is defined in Section 8.3(h).