Acceptable Counterparty means any counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of at least “A+” by S&P and “Aa3” from Xxxxx’x, which rating shall not include a “t” or otherwise reflect a termination risk and is otherwise reasonably acceptable to Lender.
Acceptable Counterparty means any counterparty to an Interest Rate Cap Agreement that has and maintains (a) either (i) a long-term unsecured debt rating or counterparty rating of A+ or higher from S&P, or (ii) a short-term unsecured debt rating of A-1 or higher from S&P, and (b) a long-term unsecured debt rating of Aa3 or higher from Xxxxx’x.
Acceptable Counterparty means (a) a bank or other financial institution which has (i) a long term senior unsecured debt rating of “A1” or higher by Xxxxx’x; and (ii) a long-term senior unsecured debt rating of “A+” or higher by S&P; (b) a counterparty to the Interest Rate Cap Agreement whose obligations thereunder are guaranteed by a bank or financial institution meeting the requirements set forth in clause (a) above; or (c) a counterparty to the Interest Rate Cap Agreement that is the subject of a Rating Agency Confirmation.
Examples of Acceptable Counterparty in a sentence
The Interest Rate Cap Agreement shall be maintained throughout the term of the Loan with an Acceptable Counterparty.
If, at any time, the interest rate cap provider ceases to be an Acceptable Counterparty, Borrower shall replace the Interest Rate Cap Agreement with a Replacement Interest Rate Cap Agreement at Borrower’s sole cost and expense within ten (10) days of receipt of notice from Lender that the interest rate cap provider is no longer an Acceptable Counterparty.
Borrower shall maintain the Interest Rate Cap Agreement with an Acceptable Counterparty in effect and having a term extending through the last day of the accrual period in which the applicable Maturity Date occurs, and an initial notional amount equal to the Loan Amount.
Lender shall have received the Interest Rate Cap Agreement, in form reasonably acceptable to Lender, from an Acceptable Counterparty.
The Rate Cap shall be maintained throughout the term of the Loan with an Acceptable Counterparty.
More Definitions of Acceptable Counterparty
Acceptable Counterparty means any Counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, credit ratings from the Rating Agencies at least equal to the First Trigger Ratings.
Acceptable Counterparty means a Canadian chartered bank that has a designated rating, or an affiliate of a Canadian chartered bank whose obligations are guaranteed by a Canadian chartered bank that has a designated rating and “Acceptable Counterparties” means more than one of them;
Acceptable Counterparty means a bank or other financial institution which has a long-term unsecured debt or counterparty rating of “AA-” (long term) and “A-1+” (short term) or higher by S&P and its equivalent by Xxxxx’x and, if the counterparty is rated by Fitch, by Fitch.
Acceptable Counterparty means a counterparty to the Interest Rate Cap Agreement (or the guarantor of such counterparty’s obligations) that (a) has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, (i) a long-term unsecured debt rating of not less than “A+” by S&P and a short-term senior unsecured debt rating of at least “A-1” from S&P, (ii)(x) if any of the Securities or any class thereof in any Securitization are rated by Xxxxx’x, a long-term unsecured debt rating of not less than “A2” from Xxxxx’x and a short-term senior unsecured debt rating of at least “P1” from Xxxxx’x or (y) if no short-term debt rating exists, a long-term senior unsecured debt rating of at least “A1” from Xxxxx’x, and (iii) if any of the Securities or any class thereof in any Securitization are rated by Fitch, a long-term unsecured debt rating of at least “A” by Fitch (and not on Rating Watch Negative) and a short-term unsecured debt rating of at least “F1” by Fitch (and not on Rating Watch Negative, or (b) is otherwise acceptable to the Approved Rating Agencies, as evidenced by a Rating Agency Confirmation to the effect that such counterparty shall not cause a downgrade, withdrawal or qualification of the ratings assigned, or to be assigned, to the Securities or any class thereof in any Securitization.
Acceptable Counterparty means a Counterparty, the long-term unsecured debt rating with respect to which is at least “A1” by Moody’s and “A+” by Standard & Poor’s (or the equivalent by each of the Rating Agencies).
Acceptable Counterparty means any counterparty to an Interest Rate Cap Agreement that (1) initially has (a) either (i) a long-term unsecured debt rating or counterparty rating of A+ or higher from S&P or (ii) a short-term unsecured debt rating of A-1 or higher from S&P, and (b) a long-term unsecured debt rating of A1 or higher from Mxxxx’x and (2) thereafter maintains (a) a long-term unsecured debt rating or counterparty rating of A- or higher from S&P and (b) a long-term unsecured debt rating of A3 or higher from Mxxxx’x.
Acceptable Counterparty means any counterparty to the Interest Rate Protection Agreement that has, as of the date hereof, and shall maintain until the expiration of the applicable Interest Rate Protection Agreement a credit rating of not less than "AA-" from S&P and not less than Aa3 from Xxxxx'x.