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 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. 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
For the avoidance of doubt, no written communication given by Moody’s under this Section 6.18 shall be deemed to satisfy the Xxxxx’x Rating Condition unless such communication is provided by Moody’s specifically in satisfaction of the Xxxxx’x Rating Condition.
Notwithstanding any provision contained herein to the contrary, prior to entering into any supplemental indenture pursuant to Section 9.02, the Issuer and Indenture Trustee shall obtain written confirmation from each of Moody’s and S&P that entry by the Issuer and Indenture Trustee into such supplemental indenture satisfies the Xxxxx’x Rating Condition and the S&P Rating Condition, respectively.
Notwithstanding the immediately preceding paragraph, the Issuer may consent to a Maturity Amendment before or after the Reinvestment Period if it has (i) received the express consent of each of the Collateral Manager, a Majority of the Controlling Class and a Majority of each other Class of Secured Notes (voting separately by Class) and (ii) satisfied the Xxxxx’x Rating Condition.
The Issuer and the Co-Issuer may amend, or permit the amendment of, the Memorandum and Articles of the Issuer and the Certificate of Formation and By-laws of the Co-Issuer, respectively only upon satisfaction of the Xxxxx’x Rating Condition.
The initial Paying Agent shall be as set forth in Section 7.2. Any additional or successor Paying Agents shall be appointed by Issuer Order with written notice thereof to the Trustee; provided that so long as the Notes of any Class are rated by the Rating Agency, with respect to any additional or successor Paying Agent, either (i) such Paying Agent has a long-term debt rating of “A1” or higher by Moody’s or a short-term debt rating of “P-1” by Moody’s or (ii) the Xxxxx’x Rating Condition is satisfied.
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 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 no Class of Secured Notes then Outstanding is rated by Moody’s.
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. The meaning set forth on Schedule 6 hereto.
Xxxxx’x Rating Condition. A condition that (A) is satisfied at any time that any Class of Secured Notes is Outstanding and rated by Moody’s if (i) with respect to the Effective Date rating confirmation procedure set forth in Section 7.18 (a) the Moody’s Effective Date Rating Condition is satisfied; or (b) 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 any other form then considered industry standard) that Moody’s will not downgrade or withdraw its Initial Ratings of any Class of Secured Notes; or (ii) with respect to any other event or circumstance, 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 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 ratings assigned to any Class of Secured Notes; or (B) is not required to be satisfied at any time that no Secured Notes then Outstanding are rated by Moody’s. “Xxxxx’x Rating Factor”: For each Collateral Obligation, the number set forth in the table below opposite the Moody’s Default Probability Rating of such Collateral Obligation. Moody’s Default Probability Rating Xxxxx’x Rating Factor Moody’s Default Probability Rating Xxxxx’x Rating Factor Aaa ........................................ 1
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. 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.