S&P Threshold definition

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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

S&P Threshold means with respect to the Counterparty:

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.
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 ▇▇▇▇ be provided, and (iii) S&P's confirmation has not been obtained that an External ▇▇▇▇ is not required, Party A will no less frequently than semi- annually provide to S&P the External ▇▇▇▇ 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 ▇▇▇▇ Statement unless (i) S&P has provided a rating agency confirmation to Party A and Party B to the effect that such External ▇▇▇▇ Statement is not required or (ii) such External ▇▇▇▇ Statement is not required by S&P's then current counterparty criteria in respect of structured finance securities.
In the event that SP Beneficially Owns less than the SP Threshold, SP shall notify GF in writing of such event within five (5) business days.

More Definitions of S&P Threshold

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, (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 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. "Threshold" means, with respect to Party B and any Valuation Date, infinity. "Minimum Transfer Amount" means USD 100,000 with respect to Party A and Party B; provided, however, that if the aggregate Certificate Principal Balance of any Certificates and the aggregate principal balance of any Notes rated by S&P is at the time of any transfer less than USD 50,000,000, the "Minimum Transfer Amount" shall be USD 50,000. Rounding: The Delivery Amount will be rounded up to the nearest integral multiple of USD 10,000. The Return Amount will be rounded down to the nearest integral multiple of USD 10,000. Valuation and Timing.

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.

S&P Threshold means with respect to Party A: Infinity; provided, however, that the S&P Threshold with respect to Party A shall be zero if an S&P Ratings Event has occurred and is continuing; and, provided, further, that the S&P Threshold shall be infinity at any time that Party A has obtained (I) (x) an Eligible Guarantee or (y) a replacement counterparty with a S&P short-term debt rating of at least “A-1” and (II) received written confirmation from S&P that any such action will not result in the withdrawal or downgrading of the rating (or credit estimate) of the Trust Certificates.

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