S&P Condition definition

S&P Condition is defined in the Indenture.
S&P Condition means, with respect to any action, that S&P shall have notified the Issuer that such action will not result in a reduction or withdrawal of S&P’s then current rating, if any, of any Notes that are Outstanding with respect to which it is a Rating Agency.
S&P Condition means, with respect to any action, that S&P shall have notified the Issuer that such action will not result in a reduction or withdrawal of S&P's then current rating, if any, of any Notes that are Outstanding with respect to which it is a Rating Agency.

Examples of S&P Condition in a sentence

  • A condition which is satisfied if both the Effective Date Moody's Condition and the Effective Date S&P Condition are satisfied.

  • No amendment, modification, termination or waiver of any provision of this Agreement, or any consent to any departure by any party hereto therefrom, shall in any event be effective unless the same shall be in writing and signed by each of the parties hereto and the S&P Condition shall have been satisfied.

  • None of the undertakings, agreements, warranties, covenants and representations of Master Servicer contained in this Agreement and no breach or default by Master Servicer hereunder, shall be deemed to have been suspended or waived by Owner unless such waiver or suspension is by an instrument in writing signed by an officer or other duly authorized signatory of Owner and directed to Master Servicer specifying such suspension or waiver and the S&P Condition shall have been satisfied.

  • Except as set forth in Section 2.1, or Article VI, Master Servicer may not assign, transfer, hypothecate or otherwise convey any of its rights or obligations hereunder or interests herein without the express prior written consent of Owner and satisfaction of the S&P Condition.

  • The S&P Condition shall be satisfied in the case of any amendment, modification or alteration of this Agreement.

  • Except as provided below and in Sections 2.8 or 4.1 of this Agreement, a Seller may not assign, transfer, hypothecate or otherwise convey its rights, benefits, obligations or duties hereunder without having obtained the prior express written consent of Buyer and having met the S&P Condition.

  • Except as provided below and in Sections 2.8 or 4.1 of this Agreement, Seller may not assign, transfer, hypothecate or otherwise convey its rights, benefits, obligations or duties hereunder without having obtained the prior express written consent of Buyer and having satisfied the S&P Condition.

  • RestrictionsIn these instructions:•Do not use PC•Operand2 must not be SP Condition flagsThese instructions update the N, Z, C and V flags according to the result.

  • A condition satisfied if either the Effective Date S&P Condition is satisfied or S&P has provided written confirmation (which may take the form of a press release or other written communication) of its Initial Rating of the Secured Notes.

  • The parties hereto agree to provide notice to S&P and to satisfy the S&P Condition of any material amendment, modification or waiver.


More Definitions of S&P Condition

S&P Condition means, with respect to any action, that Standard & Poor’s, a division of the McGraw Hill Companies, Inc., for so long as S&P shall, at the request of the Transferor, rate any outstanding series or class of securities issued by the Transferor or a securitization trust for which the Transferor acts as depositor, shall have notified Transferor, Servicer and Trustee that such action will not result in a reduction or withdrawal of the rating, if any, of any such outstanding series or class of securities rated by S&P.

Related to S&P Condition

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Rating Condition has the meaning specified in Section 2.06(c)(ii).

  • Acute condition means that the individual is medically unstable. Such an individual requires frequent monitoring by medical professionals, such as physicians and registered nurses, in order to maintain his or her health status.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Minimum Condition has the meaning set forth in Annex I.

  • Unsafe condition as used in this clause means the actual or potential exposure of contractor or Government employees to a hazardous material as defined in Federal Standard No. 313, and any revisions thereto during the term of this contract, or any other material or working condition designated by the Contracting Officer's Technical Representative (COTR) as potentially hazardous and requiring safety controls.

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Condition Satisfaction Date shall have the meaning set forth in Section 7.2.

  • Release Condition means the following:

  • Qualifying condition means a condition described in Section 26-61a-104.

  • Eligibility Conditions means the eligibility conditions specified in the Act and the Rules including all the eligibilityconditions listed in Clause [5] of the Tender Document.

  • Change in condition means a change in physical condition of the employee as well as any change

  • Payment Condition shall be deemed to be satisfied in connection with a Restricted Payment, Restricted Debt Payment, investment or Permitted Acquisition if:

  • LC Conditions has the meaning given to such term in Section 2.9.

  • Specified Condition means, with respect to a party, any event specified as such for that party in Paragraph 13.

  • Review Conditions means (i) the Delinquency Percentage for any Payment Date exceeds the Delinquency Trigger for that Payment Date and (ii) the Noteholders or Note Owners, as applicable, have voted, pursuant to Section 2.03(d) of the Receivables Purchase Agreement, to direct an Asset Representations Review of the Subject Receivables.

  • Special Condition means a condition of a Transporter's Licence or Shipper's Licence other than a Standard Condition;

  • Release Conditions mean the following conditions: (i) Company has received the Executive’s executed Release and (ii) any rescission period applicable to the Executive’s executed Release has expired.

  • Minimum Tender Condition shall have the meaning provided in Section 2.15(b).

  • Liquidity Condition means an event of immediate termination or suspension as specified in a Liquidity Facility, upon the occurrence of which the Standby Purchaser is not obligated to purchase Multi-Modal Bonds, and, accordingly, such Bonds are not subject to tender for purchase.

  • Offer Conditions has the meaning set forth in Section 1.01(b).

  • Failed Remarketing Condition means a Failed Remarketing Condition-Purchased VRDP Shares or a Failed Remarketing Condition-Unpurchased VRDP Shares.

  • Extension Conditions Defined in Section 3.06(a).

  • Business Condition means the financial condition, business, assets, liabilities and operations of a Person.

  • Terminal condition means an incurable condition caused by injury, disease, or illness that according to reasonable medical judgment will produce death within six months, even with available life-sustaining treatment provided in accordance with the prevailing standard of medical care.

  • Early Termination Conditions means the types of conditions listed in Schedule A.