Required Credit Rating definition

Required Credit Rating means: (i) in the case of the Party or any Security Provider which is not a bank or other financial institution, a long-term unsecured debt rating no worse than BBB- (as determined by Standard and Poor's rating agency) and Baa3 (as determined by Xxxxx’x rating agency), with stable outlook; and (ii) in relation to a Security Provider which is a bank or other financial institution, a long-term unsecured debt rating no worse than A- (as determined by Standard and Poor's rating agency) and A3 (as determined by Xxxxx’x rating agency), with stable outlook.

Required Credit Rating means a long-term credit rating of at least A- by Standard and Poor’s (or equivalent rating).

Required Credit Rating has the meaning given in Clause 12.1;

Examples of Required Credit Rating in a sentence

• The Issuer may enter into a Derivative Contract(s) with Derivative Counterparty(ies) with the Required Credit Rating in order to manage the Issuer's interest rate risks.

• The Manager must only give to the Trustee as a trustee of a Series Trust a proposal to acquire Authorised Short-Term Investments where the Authorised Short-Term Investment, or the issuer in respect thereof, at the time of the proposed acquisition, has at least the Required Credit Rating for that Series Trust.

• If the Account Bank ceases to have the Required Credit Rating, then the Issuer shall, in consultation with the Security SPV, appoint a successor Account Bank with the Required Credit Rating.

• In the event the GIC Provider ceases to hold the Required Credit Rating, a replacement GIC Provider will be appointed in accordance with the provisions of the Transaction Documents.

• The Administrator may, on behalf of the Issuer, invest cash from time to time standing to the credit of the Issuer's Bank Accounts in Permitted Investments; provided that for so long as the GIC Provider has the Required Credit Rating, all cash standing from time to time to the credit of the Issuer's Bank Accounts may be invested with the GIC Provider.

More Definitions of Required Credit Rating

Required Credit Rating has the meaning given in Clause 16.1(c); “Revised Credit Amount” has the meaning given in Clause 16.1(f); “Revised Q2 Price” has the meaning given in Clause 16.1(g);

Required Credit Rating has the meaning given in Clause 11.1; “Security Document” has the meaning given in Clause 11.1; “Security Provider” has the meaning given in Clause 11.1;

Required Credit Rating has the meaning specified in clause 27.1.

Required Credit Rating means, in the case of any Person, that such Person’s long-term senior, unsecured, unsubordinated debt obligations (not supported by third party credit enhancements) are rated by at least one of S&P and Moody’s, and that such Person has a Credit Rating of “Baa1” or higher by Moody’s, or “BBB+” or higher by S&P.

Required Credit Rating has the meaning given in Clause 16.1(c); “Run-off Period” means the period specified as such in Schedule 1; “Schedule” means a schedule to this Agreement;

Required Credit Rating means a senior unsecured debt rating of BBB- or better as determined by Standard & Poors (or, if such credit rating agency does not then exist, by its successor or a comparable replacement credit rating agency reasonably designated by Landlord) for the immediately preceding six (6) consecutive calendar quarters.

Required Credit Rating means A-1 (or its equivalent) or higher from Standard & Poor's and P-1 (or its equivalent) or higher from Moody's, as the case may be.