S&P Threshold definition

S&P Threshold means, with respect to Party A and any Valuation Date, if an S&P Approved Ratings Downgrade Event has occurred and is continuing and such S&P Approved Ratings Downgrade Event has been continuing (i) for at least 10 Local Business Days or (ii) since this Annex was executed, zero; otherwise, infinity.

S&P Threshold means, with respect to Party A and any Valuation Date, if an S&P Approved Threshold Downgrade Event has occurred and is continuing and such S&P Approved Threshold Downgrade Event has been continuing for at least 10 Local Business Days or since this Annex was executed, zero; otherwise, infinity.

S&P Threshold means, (A) for so long as (i) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and (ii) the Initial Remedy Period or the Subsequent Remedy Period (as applicable) has expired and (iii) either Party A has not taken remedial action as contemplated by Part 5(f)(i)(x) or Part 5(f)(i)(y) (as applicable) or, if Party A has taken such remedial action, the terms of Part 5(f)(i)(x) or Part 5(f)(i)(y), as applicable, provide that Party A is required to provide collateral in accordance with the terms of this Annex, zero and

Examples of S&P Threshold in a sentence

• Party A hereby agrees that, for so long as the S&P Threshold for Party A is zero, it will no less frequently than semi-annually provide to S&P the External Mark Statement unless (i) S&P has provided a rating agency confirmation to Party A and Party B to the effect that such External Mark Statement is not required or (ii) such External Mark Statement is not required by S&P's then current counterparty criteria in respect of structured finance securities.

• So long as (i) the S&P Threshold is zero, (ii) S&P's then current counterparty criteria in respect of structured finance securities requires that an External Mark be provided, and (iii) S&P's confirmation has not been obtained that an External Mark is not required, Party A will no less frequently than semi- annually provide to S&P the External Mark Statement.

• A Debt Ratings Event shall cease to be continuing immediately following the first public announcement by Moody’s or S&P, as the case may be, that either the Moody’s Threshold Debt Rating or the S&P Threshold Debt Rating cease to apply.

• So long as (i) the S&P Threshold is zero, (ii) S&P's then current counterparty criteria in respect of structured finance securities requires that an External Xxxx be provided, and (iii) S&P's confirmation has not been obtained that an External Xxxx is not required, Party A will no less frequently than semi- annually provide to S&P the External Xxxx Statement.

• Party A hereby agrees that, for so long as the S&P Threshold for Party A is zero, it will no less frequently than semi-annually provide to S&P the External Xxxx Statement unless (i) S&P has provided a rating agency confirmation to Party A and Party B to the effect that such External Xxxx Statement is not required or (ii) such External Xxxx Statement is not required by S&P's then current counterparty criteria in respect of structured finance securities.

More Definitions of S&P Threshold

S&P Threshold means with respect to the Counterparty:

S&P Threshold means, (1) for so long as (i) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and (ii) the Initial Remedy Period or the Subsequent Collateral Remedy Period has expired and (iii) either Party A has not taken remedial action as contemplated by paragraphs 7.1(A)(b) or 7.1(B)(b) of Part 5 of the Schedule to the Agreement (as applicable) or, if Party A has taken such remedial action, the terms of paragraphs 7.1(A)(b) or 7.1(B)(b) of Part 5 (as applicable) provide that Party A is required to provide collateral in accordance with the terms of this Annex, zero and (2) at any other time, infinity.

S&P Threshold means, with respect to Cap Provider and any date of determination, if Cap Provider does not satisfy the S&P First Ratings Requirements (i) continuously for 10 Local Business Days as of such date or (ii) as of the first day that such Cap Provider entered into the Transaction, zero; otherwise, infinity.

S&P Threshold means, with respect to Counterparty: Infinity.

S&P Threshold means, with respect to Party A and any Valuation Date, if (i) an S&P Collateralization Event has occurred and is continuing and such S&P Collateralization Event has been continuing for at least 10 Local Business Days or since this Annex was executed, or (ii) if an S&P Ratings Event has occurred and is continuing and such S&P Ratings Event has been continuing for at least 10 Local Business Days, zero; otherwise, infinity.

S&P Threshold means, with respect to Party A and any Valuation Date, if (I) an S&P Collateralization Event has occurred and is continuing and such Collateralization Event has been continuing for at least 10 Local Business Days or since this Annex was executed or (II) if (x) an S&P Ratings Event has occurred and is continuing and (y) either such S&P Ratings Event was continuing when this Annex was executed or 10 or more Local Business Days have elapsed since such S&P Ratings Event first occurred, zero; otherwise, infinity.

S&P Threshold means, where an Initial S&P Rating Event has occurred and Party A has not otherwise complied with Part 5(g)(i)(b)(ii) or a Subsequent S&P Rating Event and Party A has not otherwise complied with Part 5(g)(i)(c)(ii), zero and at any other time, infinity.