Senior Unsecured Debt Rating definition

Senior Unsecured Debt Rating means the Borrower's senior unsecured debt rating as announced by Standard & Poor's Ratings Group, a Division of XxXxxx- Xxxx, Inc. or Xxxxx'x Investors Service, Inc.

Senior Unsecured Debt Rating means, for any date, the senior unsecured debt rating, as rated by Standard & Poor's or Xxxxx'x Investor Service as of such date.

Senior Unsecured Debt Rating has the meaning assigned to such term in Schedule 1.

Examples of Senior Unsecured Debt Rating in a sentence

• On 19 December 2013 due to countless reports in the media Moody’s had occasion to publish an information on Hypo Alpe Adria, in which it confirmed the Guaranteed Senior Unsecured Debt Rating at A1 with a “negative” out- look.

• Subsequent to the Order on Consent, the NYSDEC approved Study Area Work Plan Addendum 3 (Work Plan Addendum 3) for additional characterization activities at the Property (WESTON, 2015).

• Applicable Margin for Eurodollar Rate Loans 0.75 % 0.80 % 0.85 % 1.00 % 1.25 % Applicable Margin for Floating Rate Loans 0.00 % 0.00 % 0.00 % 0.00 % 0.25 % For purposes of the foregoing: Changes in the Applicable Margin resulting from a change in the Pricing Level shall become effective on the effective date of any change in the Senior Unsecured Debt Rating from S&P or Xxxxx’x.

• In the event that Cornerstone's Senior Unsecured Debt Ratings, as determined by Xxxxx'x and Standard & Poor's, differ by up to two levels, the lower Senior Unsecured Debt Rating will apply.

• Borrower will pay to Administrative Agent for the account of Secondary Revolving Credit Lenders a Secondary Revolving Credit Facility Fee from and including the Closing Date to the Secondary Revolving Credit Termination Date, computed based on the Senior Unsecured Debt Rating; provided that, in the event that Borrower's Senior Unsecured Debt Rating by Moodx'x Xxxestor Service, Inc.

More Definitions of Senior Unsecured Debt Rating

Senior Unsecured Debt Rating means, at any time of determination, the rating currently assigned by Moody's or S&P, as applicable, to the outstanding publicly-held long-term senior unsecured debt securities of Company, or, if no such debt securities are outstanding at such time, the rating, if any, that would be so assigned by Moody's or S&P, as applicable, if any such debt securities were outstanding at such time, as evidenced by a formal rating letter issued to Company by such rating agency and delivered by Company (in the form of an original or a copy thereof) to Administrative Agent.

Senior Unsecured Debt Rating means, as of any date, the highest rating that has been most recently announced by either S&P or Xxxxx'x, as the case may be, for any class of long-term senior unsecured debt issued by any of the Obligors; PROVIDED, HOWEVER, that if the rating by S&P shall be below BBB- or if the rating by Xxxxx'x shall be below Baa3, the lower rating shall apply unless the ratings established by S&P and Xxxxx'x shall be more than one Level apart in the definition of "Applicable Margin", in which case the applicable Level shall be one Level higher than the lower of such Levels. For purposes of the foregoing, (a) if no Senior Unsecured Debt Rating shall be available from at least one of S&P and Xxxxx'x, the Applicable Margin will be set by reference to the Leverage Ratio so long as the Agent shall have received the financial statements and Compliance Certificate to be delivered by the Company pursuant to Section 6.1 (or, in the case of the Applicable Margin established on the Closing Date, subsection 4.1(g)), and if the Agent shall not have received such financial statements and Compliance Certificate, in accordance with Level 6 under the definition of "Applicable Margin"; (b) if only one of S&P and Xxxxx'x shall have in effect a Senior Unsecured Debt Rating, the Applicable Margin shall be determined by reference to the available rating; (c) if any rating established by S&P or Xxxxx'x shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (d) if S&P or Xxxxx'x shall change the basis on which ratings are established, each reference to the Senior Unsecured Debt Rating announced by S&P or Xxxxx'x, as the case may be, shall refer to the then equivalent rating by S&P or Xxxxx'x, as the case may be.

Senior Unsecured Debt Rating in Section 1.1 of the Credit Agreement are hereby amended and restated to read in their entirety as follows:

Senior Unsecured Debt Rating the Borrower's senior unsecured debt rating as announced by both S&P and Moody's.

Senior Unsecured Debt Rating means, in the case of S&P, the "corporate credit rating"ascribed to the Borrower, and, in the case of Moodx'x, xxe "senior implied rating" ascribed to the Borrower, in each case as announced by S&P and Moodx'x, xx the case may be, from time to time.

Senior Unsecured Debt Rating means the Borrower's Senior Unsecured Debt Rating provided by (1) the higher of either Standard & Poor's Corporation or Xxxxx'x Investors Service provided that (a) no more than one ratings differential shall apply, or, (b) if two or more ratings differential, the rating shall be that rating that is one rating greater than the lowest rating, or, (2) if not available from one of the above corporations, then that rating that is two levels better than the rating given by such corporations on the Senior Subordinated Debt.

Senior Unsecured Debt Rating means, as of any date, the highest rating, actual or implicit, that has been most recently announced by any of S&P or Xxxxx'x, as the case may be, for the Company or any class of long-term senior unsecured debt issued by the Company or FHC. For purposes of the foregoing, (a) if any rating established by S&P or Xxxxx'x shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (b) if S&P or Xxxxx'x shall change the basis on which ratings are established, each reference to the Senior Unsecured Debt Rating announced by S&P or Xxxxx'x, as the case may be, shall refer to the then equivalent rating by S&P or Xxxxx'x, as the case may be.