Xxxxx’x Rating Condition means, with respect to any action or series of related actions or proposed transaction or series of proposed transactions, that Moody’s shall have notified the Indenture Trustee in writing that such action or series of related actions or the consummation of such proposed transaction or series of related transactions will not result in a reduction or withdrawal of the rating issued by Moody’s on the Closing Date with respect to any outstanding class of Notes as a result of such action or series of related actions or the consummation of such proposed transaction or series of related transactions.
Xxxxx’x Rating Condition. With respect to any action taken or to be taken by or on behalf of the Issuer, a condition that is satisfied if Moody’s has provided written confirmation (including by means of electronic message, facsimile transmission, press release, posting to its website, or other means then considered industry standard) to the Issuer and the Trustee (unless in the form of a press release or posted to its website or such other industry standard that does not require the Issuer and the Trustee to be identified as addressees) that no immediate withdrawal or reduction with respect to its then-current rating by Moody’s of any Class of Notes will occur as a result of such action; provided, that the Xxxxx’x Rating Condition shall not be applicable if no Class of Notes then Outstanding is rated by Moody’s and provided, further, that such rating condition shall be deemed inapplicable with respect to such event or circumstance if (i) Moody’s has given notice to the effect that it will no longer review events or circumstances of the type requiring satisfaction of the Xxxxx’x Rating Condition for purposes of evaluating whether to confirm the then-current ratings (or initial ratings) of obligations rated by Moody’s; or (ii) Moody’s has communicated to the Issuer, the Collateral Manager or the Trustee (or their counsel) that it will not review such event or circumstance for purposes of evaluating whether to confirm the then-current ratings (or Initial Ratings) of the Notes then rated by Moody’s.
Xxxxx’x Rating Condition. For so long as Xxxxx’x is a Rating Agency, a condition that is satisfied if:
Examples of Xxxxx’x Rating Condition in a sentence
Notwithstanding anything to the contrary contained in this Indenture, the Issuer (or the Portfolio Manager on behalf of the Issuer) shall not enter into any Hedge Agreement after the Closing Date unless the Xxxxx’x Rating Condition has been satisfied with respect thereto.
Xxxxx’x Rating Condition ....................................................................
More Definitions of Xxxxx’x Rating Condition
Xxxxx’x Rating Condition means, with respect to any action or series of related actions or proposed transaction or series of proposed transactions, that Moody's shall have notified the Trust Depositor, the Owner Trustee and the Indenture Trustee in writing that such action or series of related actions or the consummation of such proposed transaction or series of related transactions will not result in a reduction or withdrawal of the rating issued by Moody's on the Closing Date with respect to any outstanding class of Notes as a result of such action or series of related actions or the consummation of such proposed transaction or series of related transactions.
Xxxxx’x Rating Condition. With respect to any action taken or to be taken by or on behalf of the Issuer, a condition that is satisfied if Moody’s has confirmed in writing to the Issuer, the Trustee, the Collateral Administrator and the Collateral Manager that no immediate withdrawal or reduction with respect to its then-current rating by Moody’s of the Secured Notes will occur as a result of such action, or has issued a press release to this effect; provided that the Xxxxx’x Rating Condition will be deemed to be satisfied if the Secured Notes then Outstanding are not rated by Moody’s.
Xxxxx’x Rating Condition. For so long as Xxxxx'x is a Rating Agency, a condition that is satisfied if:
Xxxxx’x Rating Condition and “S&P Rating Condition”, respectively) has confirmed in writing to the Supplemental Interest Trust Trustee that such action will not result in withdrawal, reduction or other adverse action with respect to any then-current rating by such Rating Agency of the Certificates.
Xxxxx’x Rating Condition. With respect to any action taken or to be taken by or on behalf of the Issuer, a condition that is satisfied if Moody’s has confirmed in writing, including electronic messages, facsimile, press release, posting to its internet website, or other means then considered industry standard (or has waived the review of such action by such means) to the Issuer, the Trustee and the Portfolio Manager that no immediate withdrawal or reduction with respect to its then-current rating of any Class of Secured Notes will occur as a result of such action; provided that the Xxxxx’x Rating Condition will be deemed to be satisfied if (A) the Xxxxx’x Rating Condition is deemed inapplicable as described in Section 14.17(a) or (B) no Class of Secured Notes Outstanding is rated by Moody’s.
Xxxxx’x Rating Condition. With respect to any action taken or to be taken by or on behalf of the Issuer, a condition that is satisfied (or, deemed inapplicable in the case of sub-clauses (b)(ii) and (b)(iii) below) if (a) with respect to the Effective Date rating confirmation procedure set forth in Section 7.18(e), Moody's provides written confirmation (which may take the form of a press release or other written communication which may be in electronic form or posted on Moody's website or any other form then considered industry standard) of its Initial Rating of the Class A Notes or the Class X Notes or (b) with respect to any other event or circumstance, (i) Moody's provides written confirmation (which may take the form of a press release or other written communication which may be in electronic form or posted on Moody's website or any other form then considered industry standard) that the occurrence of that event or circumstance will not cause Moody's to downgrade or withdraw its then-current rating of the Class A Notes or the Class X Notes, (ii) no Secured Notes of any Class then rated by Moody's are Outstanding, or (iii) no Secured Notes of any Class then Outstanding are rated by Moody's.
Xxxxx’x Rating Condition. For so long as Xxxxx’x is a Rating Agency, a condition that is satisfied if Moody’s provides written confirmation (which may take the form of a press release or other written communication) that the occurrence of that event or circumstance will not cause Moody’s to downgrade or withdraw its then-current rating assigned to any Funded Loan and/or Revolving Note; provided that, the Xxxxx’x Rating Condition will not be applicable if (i) Moody’s has not provided an Initial Rating or (ii) no Funded Loans are then Outstanding and the Maximum Permitted Funded Amount has been reduced to zero; provided, further, that notwithstanding the foregoing, with respect to any event or circumstance that requires satisfaction of the Xxxxx’x Rating Condition, if Xxxxx’x is a Rating Agency, such Xxxxx’x Rating Condition will be inapplicable if (a) Moody’s has made a public statement to the effect that it will no longer review events or circumstances of the type requiring satisfaction of the Xxxxx’x Rating Condition for purposes of evaluating whether to confirm the then-current ratings (or initial ratings) of obligations rated by Moody’s or (b) Moody’s has communicated to the Borrower Parties, the Collateral Manager or the Collateral Custodian (or their counsel) that it will not review such event or circumstance for purposes of evaluating whether to confirm the then-current rating (or Initial Rating) of any Funded Loan and/or Revolving Note.