Requisite Credit Rating definition

Requisite Credit Rating means in respect of the ratings other than the ratings of an Eligible Swap Counterparty, the minimum ratings from time to time, as at the Programme Date being equal to 'F1' (short-term) and 'A' (long-term) by Fitch.

Requisite Credit Rating means [● insert Requisite Credit Rating for the applicable Rating Agencies]; [“Reserve [Account/Fund] Target Level”] means on any Notes Calculation Date a level equal to [an amount equal to EUR [●] / percentage of Notes amount at Closing Date / insert minimum level of Notes outstanding if applicable other than the Class [●] Notes] or zero, on the Notes Payment Date on which the Notes have been or are to be redeemed in full; [“Reserve Fund”] means [●];

Requisite Credit Rating means the minimum ratings from time to time, as at the Programme Date being equal (i) the long-term, unsecured, unsubordinated and unguaranteed debt obligations of at least 'A' (long- term) by S&P, or (ii) such other lower rating or ratings as may be agreed by the Security Trustee, the CBC and the Issuer and which is based on the criteria of the relevant Rating Agency as would be sufficient to maintain the then current ratings of the Covered Bonds." 2.1.6 In Clause 4 the notice details of Fitch will be deleted in its entirety. 2.2 Asset Monitoring Agreement Each of the Parties to the Asset Monitoring Agreement in each capacity it is a party thereto hereby agrees to amend the Asset Monitoring Agreement as follows: 2.2.1 In Schedule 2, under "α", item (iv) will be deleted and replaced by the following:

Examples of Requisite Credit Rating in a sentence

• The Requisite Credit Rating is achieved if the long-term senior unsecured debt rating of WPP published by Moody’s or Standard & Poor’s is BBB+ or Baa1 or higher and the other long-term senior unsecured debt rating published by Moody’s or Standard & Poor’s is no more than one notch lower.

• The rate of margin from and including 1 January 2009 to and including 31 March 2009 is 1.40% per annum if the Requisite Credit Rating is achieved and 1.50% per annum if it is not.

• The rate of margin from and including 1 April 2009 to and including the date falling 364 days after the Signing Date is 1.60% per annum if the Requisite Credit Rating is achieved and 1.70% per annum if it is not.

• The rate of margin for the facility from the date on which the facility agreement was signed (the Signing Date) to and including 30 September 2008 is either 0.55% per annum if the Requisite Credit Rating is achieved or 0.65% per annum if it is not.

• The rate of margin from and including 1 October 2008 to and including 31 December 2008 is 0.85% per annum if the Requisite Credit Rating is achieved and 0.95% per annum if it is not.

• The rate of margin thereafter is 2.15% per annum if the Requisite Credit Rating is achieved and 2.25% per annum if it is not.

More Definitions of Requisite Credit Rating

Requisite Credit Rating means, in relation to any Person, a credit rating in respect of its long term unsecured, unsubordinated debt obligations (or if not rated, those of its Parent) of at least A by Standard & Poor’s and/or A2 by Moody’s;