Specified Concentration Percentage means (a) for any Group A Obligor, 15.00%, (b) for any Group B Obligor, 10.00%, (c) for any Group C Obligor, 5.00% and (d) for any Group D Obligor, 4.00%.
Specified Concentration Percentage means, with respect to any Obligor, the greater of (a) the percentage, if any, determined by the Administrative Agent in its sole discretion with respect to such Obligor by written notice to the Seller and the Servicer; it being understood and agreed that the Administrative Agent, in its sole discretion, may increase or reduce any such percentage described in this clause (a) with respect to any Obligor at any time in its sole discretion by written notice thereof to the Seller and the Servicer, and (b) the percentage appearing opposite such Obligor’s applicable rating on the table below: S&P Short-Term Rating/Long-Term Rating Moody’s Short-Term Rating/ Long-Term Rating Specified Concentration Percentage A-1/A+ or higher P-1/A1 or higher 24.00% A-2/BBB+ or higher P-2/Baa1 or higher 24.00% A-3/BBB- or higher P-3/Baa3 or higher 12.00% Below A-3/BBB-or Not Rated/Withdrawn Below P-3/Baa3or Not Rated/Withdrawn 6.00% For purposes of clause (b) above, each Obligor’s “Specified Concentration Percentage” shall be computed as follows:
Specified Concentration Percentage means, with respect to any Obligor, 2.40%.
More Definitions of Specified Concentration Percentage
Specified Concentration Percentage means (a) except as provided in clause (b) below, (i) for any Group A Obligor, 20.00%, (ii) for any Group B Obligor, 15.00%, (iii) for any Group C Obligor, 7.50% and (iv) for any Group D Obligor, 4.00%, and (b) for each of the Obligors listed in the chart below (each, a “Special Obligor”), the percentage specified in the chart below for such Special Obligor (the applicable “Special Concentration Percentage”); provided, however, that the Administrative Agent may (or, at the direction of any Group Agent shall), upon not less than five (5) Business Days’ notice to the Borrower (x) cancel the Special Concentration Percentage with respect to any or all Special Obligors, in which case the Specified Concentration Percentage for such Special Obligor(s) shall be determined pursuant to clause (a) above or (y) reduce the Special Concentration Percentage with respect to any or all Special Obligors to a percentage not less than the Specified Concentration Percentage for such Special Obligor(s) as determined pursuant to clause (a) above. In the event that any other Obligor is or becomes an Affiliate of a Special Obligor, the Special Concentration Percentage shall apply to both such Obligor and such Special Obligor and shall be calculated as if such Obligor and such Special Obligor were a single Obligor. 757913495 20643426 28
Specified Concentration Percentage means, with respect to any Obligor, the percentage appearing opposite such Obligor’s applicable rating on the table below: S&P Short-Term Rating / Long-Term Rating Xxxxx’x Short-Term Rating / Long-Term Rating Specified Concentration Percentage A-1 / A+ or higher P-1 / A1 or higher 12.00% A-2 / BBB+ or higher P-2 / Baa1 or higher 12.00% A-3 / BBB- or higher P-3 / Baa3 or higher 6.00% Below A-3 / BBB- or Not Rated / Withdrawn Below P-3 / Baa3 or Not Rated / Withdrawn 3.00% Each Obligor’s “Specified Concentration Percentage” shall be computed as follows:
Specified Concentration Percentage means, with respect to any Obligor, the greater of (a) the percentage, if any, determined by the Agent and each Purchaser Agent in their sole discretion with respect to such Obligor by written notice to the Seller and the Servicer; it being understood and agreed that the Agent or any Purchaser Agent, in its sole discretion, may reduce any such percentage described in this clause (a) with respect to any Obligor at any time in its sole discretion by written notice to the Seller and the Servicer, it being understood that on the date hereof, a Specified Concentration Percentage of (i) 24.0% shall apply to all Receivables the Obligor of which is Cardinal Health, Inc. and (ii) 32.0% shall apply to all Receivables the Obligor of which is McKesson Corporation, and (b) other than with respect to any Specified Concentration Percentage for any Obligor set forth in clause (a) above, the percentage appearing opposite such Obligor’s short-term unsecured debt ratings on the table below: S&P/Moody’s Short-Term Rating S&P/Moody’s Long-Term Rating Specified Concentration Percentage Subject to the next sentence, if the short-term unsecured debt rating established by Moody’s or S&P for an Obligor shall fall one or more rating category gradation below the other rating agency’s comparable gradation (or has been withdrawn), the lower of the two ratings shall apply. If either Moody’s or S&P does not maintain (and has not withdrawn) a short-term unsecured senior debt rating of an Obligor, the Concentration Limit for such Obligor shall be determined in accordance with the table above based upon the long-term unsecured debt rating established by Moody’s or S&P but if the long-term unsecured debt rating established by Moody’s or S&P for an Obligor shall fall one or more rating category gradation below the other rating agency’s comparable gradation (or has been withdrawn), the lower of the two ratings shall apply. If an Obligor is not rated by either Moody’s or S&P it shall be considered unrated.
Specified Concentration Percentage means, with respect to any Obligor, the greater of (a) the percentage, if any, determined by the Administrative Agent in its sole discretion with respect to such Obligor by written notice to the Sellers and the Servicer; it being understood and agreed that the Administrative Agent, in its sole discretion, may increase or reduce any such percentage described in this clause (a) with respect to any Obligor at any time in its sole discretion by written notice thereof to the Sellers and the Servicer, and (b) the percentage appearing opposite such Obligor’s applicable rating on the table below:
Specified Concentration Percentage means, with respect to any Account Debtor, the percentage appearing opposite such Account Debtor’s applicable rating on the table below: Category S&P Short-Term Rating / Long-Term Rating Moody’s Short-Term Rating / Long-Term Rating Specified Concentration Percentage 1 A-1 / A+ or higher P-1 / A1 or higher 12% 2 A-2 / BBB+ or higher P-2 / Baa1 or higher 6% 0 X-0 / XXX- or higher P-3 / Baa3 or higher 4% 0 Xxxxx X-0 / XXX- or Not Rated / Withdrawn Below P-3 / Baa3 or Not Rated / Withdrawn Largest 4%, 2nd and 3rd largest are 3%, and all others at 2% Each Account Debtor’s “Specified Concentration Percentage” shall be computed as follows:
Specified Concentration Percentage means, (i) with respect to any Special Concentration Obligor, its Special Concentration Obligor Percentage and (ii) with respect to any Obligor other than a Special Concentration Obligor, the greater of (a) the percentage, if any, determined by the Administrative Agent in its sole discretion with respect to such Obligor by written notice to the Borrower and the Servicer; it being understood and agreed that the Administrative Agent, in its sole discretion, may increase or reduce any such percentage described in this clause (a) with respect to any Obligor at any time in its sole discretion by written notice thereof to the Borrower and the Servicer, and (b) the percentage appearing opposite such Obligor’s applicable rating on the table below: S&P Short-Term Rating/ Long-Term Rating Xxxxx’x Short-Term Rating/ Long-Term Rating Specified Concentration Percentage A-2/BBB+ or higher P-2/Baa1 or higher 16.0% A-3/BBB- or higher P-3/Baa3 or higher 9.0% Below A-3/BBB- or Not Rated/Withdrawn Below P-3/Baa3 or Not Rated/Withdrawn 2.25% For purposes of clause (b) above, each Obligor’s “Specified Concentration Percentage” shall be computed as follows:
Specified Concentration Percentage means, with respect to any Obligor, the greater of (a) the percentage, if any, determined by Administrative Agent with respect to such Obligor by written notice to Seller and Master Servicer; it being understood and agreed that Administrative Agent may increase or reduce any such percentage described in this clause (a) with respect to any Obligor at any time in its sole discretion by written notice to Seller and Master Servicer, and (b) the percentage appearing opposite such Obligor’s applicable rating on the table below: S&P Short-Term Rating / Long-Term Rating Moody’s Short-Term Rating / Long-Term Rating Specified Concentration Percentage A-1 / A+ or higher P-1 / A1 or higher 10.00% A-2 / BBB+ or higher P-2 / Baa1 or higher 5.00% A-3 / BBB- or higher P-3 / Baa3 or higher 3.33% Below A-3 / BBB- or Not Rated / Withdrawn Below P-3 / Baa3 or Not Rated / Withdrawn 2.00% For purposes of clause (b) above, each Obligor’s “Specified Concentration Percentage” shall be computed as follows: