Required Hedge Counterparty Ratings definition

Required Hedge Counterparty Ratings means, with respect to any Hedge Counterparty or any Hedge Guarantor, the Hedge Counterparty ratings required by each Rating Agency at the time the Issuer enters into the applicable Hedge Agreement.
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Required Hedge Counterparty Ratings means, with respect to any Hedge
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Required Hedge Counterparty Ratings. With respect to any Hedge Counterparty (or its guarantor under a guarantee which guarantee has satisfied the Xxxxx’x Rating Condition (unless deemed inapplicable in accordance with Section 1.3)), a long-term rating of at least “A2” (and not on credit watch by Moody’s with negative implication) by Moody’s and a short-term rating of “P-1” (and not on credit watch by Moody’s with negative implication) by Moody’s (or if it has no short-term rating, a long-term rating of at least “A1” (and not on credit watch by Moody’s with negative implication)) or such other ratings which satisfy the Xxxxx’x Rating Condition (unless the Xxxxx’x Rating Condition is deemed inapplicable in accordance with Section 1.3). “Required Interest Coverage Ratio”: (a) For the Class A Notes and the Class B Notes, collectively, 120.00%, (b) for the Class C Notes, 110.00% and (c) for the Class D Notes, 105.00%. “Required Interest Diversion Amount”: The lesser of (x) 50.0% of Available Funds from the Collateral Interest Amount on any Payment Date after application of such Collateral Interest Amount to the payment of amounts set forth in clauses (A) through (O) of Section 11.1(a)(i) and (y) the minimum amount that needs to be added to the Adjusted Collateral Principal Amount in order to cause the Interest Diversion Test to be satisfied on a pro forma basis. “Required Overcollateralization Ratio”: (a) For the Class A Notes and the Class B Notes, collectively, 136.52%, (b) for the Class C Notes, 123.52% and (c) for the Class D Notes, 113.08%. “Resolution”: With respect to the Issuer, a resolution of the Board of Directors of the Issuer, as applicable, and, with respect to the Co-Issuer, a resolution of the manager of the Co- Issuer. “Restricted Asset”: The meaning specified in Section 12.1(n). “Restricted Trading Period”: The period during which, so long as the applicable Class of Notes is Outstanding, (a)(i) the Xxxxx’x rating of any of the Class A Notes is withdrawn (and not reinstated) or is one or more sub-categories below the Initial Rating applicable to such Class, (ii) the Xxxxx’x rating of the Class B Notes or the Class C Notes is withdrawn (and not reinstated) or is two or more sub‐categories below the Initial Rating applicable to such Class or (iii) the Xxxxx’x rating of the Class D Notes is withdrawn (and not reinstated) or is three or more sub‐categories below the Initial Rating applicable to such Class, and (b) after giving effect to any sale (and any related reinvestment) or purch...
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Examples of Required Hedge Counterparty Ratings in a sentence

  • Each Interest Rate Hedge Counterparty (or its respective Hedge Guarantor) will be required to have, at the time that any Hedge Agreement to which it is a party is entered into, the Required Hedge Counterparty Ratings unless Rating Agency Confirmation is obtained from the applicable Rating Agency or credit support is provided as set forth in the Hedge Agreement.


More Definitions of Required Hedge Counterparty Ratings

Required Hedge Counterparty Ratings. With respect to any Hedge Counterparty or any Hedge Guarantor a long-term rating of at least "A" and a short-term rating of at least "A-1" by S&P or, if it does not have both of these specified ratings by S&P, then a long-term rating of at least "A+" by S&P and in each case such required rating is not then on credit watch for possible downgrade by S&P, except to the extent that S&P provides Rating Agency Confirmation that one or more of such ratings from S&P are not required to be satisfied.
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Related to Required Hedge Counterparty Ratings

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

  • Approved Ratings Threshold means each of the S&P Approved Ratings Threshold and the Moody’s First Trigger Ratings Threshold.

  • Acceptable Counterparty means any counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of at least “A+” by S&P and “Aa3” from Xxxxx’x, which rating shall not include a “t” or otherwise reflect a termination risk and is otherwise reasonably acceptable to Lender.

  • Hedge Counterparty means a Lender, the Administrative Agent or any of the Lender’s or the Administrative Agent’s affiliates (at the time a hedging agreement is entered into) who has entered into a hedging agreement for the purpose of hedging interest rate liabilities and/or any exchange rate and/or commodity price risks provided it has become a party, or by execution of an additional bank secured party acknowledgment has agreed to be bound by the terms of, to the First Lien Intercreditor Agreement in its capacity as hedge counterparty.

  • Specified Rating Agencies means each of Moody’s, S&P and DBRS as long as, in each case, it has not ceased to rate the Notes or failed to make a rating of the Notes publicly available for reasons outside of the Issuer’s control; provided that if one or more of Moody’s, S&P or DBRS ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, the Issuer may select any other “designated rating organization” within the meaning of National Instrument 41-101 of the Canadian Securities Administrators as a replacement agency for such one or more of them, as the case may be.

  • Eligible Counterparty means an “Eligible Counterparty” for the purposes of the Law.

  • Investment Grade Credit Rating means (i) a Credit Rating of Baa3 or higher given by Xxxxx’x, (ii) a Credit Rating of BBB- or higher given by S&P or (iii) a Credit Rating of BBB- or higher given by Fitch.

  • S&P Approved Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a short-term unsecured and unsubordinated debt rating from S&P of “A-1”, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “A+”.

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of “BBB+”.

  • Specified Rating means, for the Class A(2018-3) Notes, Aaa(sf) with respect to Xxxxx’x, AAA(sf) with respect to Standard & Poor’s and AAAsf with respect to Fitch.

  • Approved Counterparty means (a) any Lender or any Affiliate of a Lender and (b) any other Person whose long term senior unsecured debt rating is A-/A3 by S&P or Xxxxx’x (or their equivalent) or higher.

  • Eligible Swap Counterparty means an entity, which may be an affiliate of a remarketing agent, engaged in the business of entering into derivative instrument contracts that satisfies the Rating Agency Condition.