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;

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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 (i) a Ratings Trigger provided for in this Agreement that lowers the ratings specified therein, or (ii) 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.

• Following the occurrence of Ratings Trigger contemplated by Section 3.5.2(d) of the CMHC Guide, obtain a schedule from the registered issuer of the Reserve Fund required by the Ratings Trigger, and perform recalculation procedures on the schedule.

• The Cover Pool Monitor shall obtain from the registered issuer the ratings, if any, assigned to the registered issuer by each Rating Agency and relevant to the Ratings Trigger contemplated by Section 3.5.2(d) of the CMHC Guide.

• The Cover Pool Monitor shall obtain from the registered issuer the ratings, if any, assigned to the registered issuer by each Rating Agency and relevant to the Ratings Trigger contemplated by Section 3.5.2(e) of the CMHC Guide.

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 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 is defined in Section 8.3(h).

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

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 any provision in any document applicable to any Indebtedness of the Borrower or any Subsidiary stating that if the Borrower or any Subsidiary shall not maintain a minimum debt rating by S&P, ▇▇▇▇▇’▇ or any other ratings agency: (a) the Borrower or such Subsidiary shall be deemed not to have complied with such document, (b) a default or event of default or other acceleration event shall be deemed to have occurred under such document, or (c) Indebtedness governed by such document shall be prepaid or the holder of such Indebtedness shall have the option to require such prepayment (whether immediately or with the giving of notice, passage of time or both).