Unsecured Debt Rating definition

Unsecured Debt Rating as defined in the definition of “Applicable Margin”.
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Unsecured Debt Rating means the rating assigned by a Rating Agency to the Corporation’s long-term senior Unsecured Indebtedness (which Indebtedness may not be guaranteed).
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Unsecured Debt Rating as defined in the definition of “Applicable Margin”. “Xxxxx Fargo”: Xxxxx Fargo Bank, N.A., a national banking association. “Withholding Agent”: the Borrower and the Administrative Agent.
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Examples of Unsecured Debt Rating in a sentence

  • Borrower shall promptly notify ---------------- Agent in writing of the initial receipt of and any subsequent change, downgrade or withdrawal, or threatened change, downgrade or withdrawal of Borrower's or the REIT's Unsecured Debt Rating.

  • Borrower has an Unsecured Debt Rating of BBB- or higher assigned by Standard & Poor's Ratings Services and of Baa3 or higher assigned by Moodx'x Xxxestor Service, Inc., and the consummation of the Loan will not cause any change, downgrade or withdrawal of such rating.

  • In the event the Borrower fails to deliver such financial statements and certificate within the time required by Section 7.2 hereof, the Applicable Margin until the delivery of such financial statements and certificate shall be the Applicable Margin set forth above applicable to the Borrower's Senior Unsecured Debt Rating; provided that if such rating is not available, the Applicable Margin shall be the highest Applicable Margin set forth above.

  • All notices and other communications hereunder shall be sufficiently given for all purposes hereunder if in writing and delivered personally, sent by documented overnight delivery service or, to the extent receipt is confirmed, telecopy, telefax or other electronic transmission service to the appropriate address or numbers as set forth below.

  • Borrower will pay to Administrative Agent for the account of Secondary Revolving Credit Lenders a Secondary Revolving Credit Facility Fee (in basis points) from and including the Closing Date to the Secondary Revolving Credit Termination Date, computed based on the Senior Unsecured Debt Rating and Borrower's Ratio; provided that, in the event that Borrower's Senior Unsecured Debt Rating by Moodx'x Xxxestor Service, Inc.

  • Borrower and the REIT shall use their best efforts to have an Unsecured Debt Rating assigned to the REIT within 360 days (or 450 days in the event Borrower executes a Westin Acquisition Agreement) after the Closing Date.

  • If any Material Adverse Effect shall occur other than a down grade, withdrawal or termination of Borrower's or the REIT's Unsecured Debt Rating.

  • In the event that Cornerstone's Senior Unsecured Debt Ratings, as determined by Xxxxx'x and Standard & Poor's, differ by up to two levels, the lower Senior Unsecured Debt Rating will apply.

  • The Borrower will promptly notify the Agent in writing of any change, downgrade or withdrawal, or threatened change, downgrade or withdrawal of the Borrower's Unsecured Debt Rating.

  • Adjustments, if any, in the Applicable Margin shall be made by the Agent three (3) Business Days after the Agent has received written notice from Cornerstone of a change in the Senior Unsecured Debt Rating.


More Definitions of Unsecured Debt Rating

Unsecured Debt Rating means, as of any date of determination, the Borrower's senior unsecured long term debt rating as determined by each of the Rating Agencies to be in effect as of such date.
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Unsecured Debt Rating means with respect to a Person, the
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Unsecured Debt Rating as defined in the definition of “Applicable Margin”. “U.S. Government Securities Business Day”: means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.
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Unsecured Debt Rating means with respect to a Person, the rating assigned by the Rating Agencies to such Person's long term unsecured debt obligations. The foregoing definitions shall be equally applicable to both the singular and plural forms of the defined terms.
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Unsecured Debt Rating means, with respect to a Person, the rating assigned by the Rating Agencies to such Person's long term senior unsecured Indebtedness; provided, however, that for purposes of the definitions of Applicable Commitment Commission Percentage and Applicable Margin, if either Rating Agency at any time assigns different ratings to the two Parent Companies, the lower rating assigned by such Rating Agency shall be deemed to be the Unsecured Debt Rating of the Parent Companies (subject to the further provisions contained in the definitions of Applicable Commitment Commission Percentage and Applicable Margin contained herein).
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Unsecured Debt Rating means the rating assigned by a Rating Agency to the Corporation's long-term senior unsecured Indebtedness (which Indebtedness may be guaranteed, but only by Sheraton).
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Related to Unsecured Debt Rating

  • Debt Rating has the meaning specified in the definition of “Applicable Rate.”

  • Debt Ratings has the meaning specified in the definition of “Applicable Rate.”

  • Senior Debt Rating means at any date, the credit rating identified by S&P, Fitch or Xxxxx’x as the credit rating which (a) it has assigned to long term senior unsecured debt of the Borrower or (b) it would assign to long term senior unsecured debt of the Borrower were the Borrower to issue or have outstanding any long term senior unsecured debt on such date. For the avoidance of doubt, “Senior Debt Rating” is not the Borrower’s “Corporate/Long-Term Issuer” rating.

  • Index Debt Rating means the S&P Rating, the Xxxxx’x Rating and the Fitch Rating.

  • Public Debt Rating means, as of any date, the rating that has been most recently announced by either S&P or Moody’s, as the case may be, for any class of non-credit enhanced long-term senior unsecured debt issued by the Borrower or, if any such rating agency shall have issued more than one such rating, the lowest such rating issued by such rating agency. For purposes of the foregoing, (a) if only one of S&P and Moody’s shall have in effect a Public Debt Rating, the Applicable Margin and the Applicable Percentage shall be determined by reference to the available rating; (b) if neither S&P nor Moody’s shall have in effect a Public Debt Rating, the Applicable Margin and the Applicable Percentage will be set in accordance with Level 5 under the definition of “Applicable Margin” or “Applicable Percentage”, as the case may be; (c) if the ratings established by S&P and Moody’s shall fall within different levels, the Applicable Margin and the Applicable Percentage shall be based upon the higher rating unless such ratings differ by two or more levels, in which case the applicable level will be deemed to be one level below the higher of such levels; (d) if any rating established by S&P or Moody’s shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (e) if S&P or Moody’s shall change the basis on which ratings are established, each reference to the Public Debt Rating announced by S&P or Moody’s, as the case may be, shall refer to the then equivalent rating by S&P or Moody’s, as the case may be.

  • Secured Debt Ratio means the ratio of (a) Secured Debt to (b) the aggregate amount of Indebtedness of the Company and its Subsidiaries that are consolidated with the Company for purposes of GAAP (including Indebtedness under the Notes and excluding any Indebtedness of any of the Company’s Subsidiaries which are SBIC Subsidiaries).

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower's senior unsecured long-term debt securities without third-party credit enhancement.

  • Investment Grade Credit Rating means (a) with respect to Fitch, a credit rating of BBB- or higher, (b) with respect to Xxxxx’x, a credit rating of Baa3 or higher and (c) with respect to S&P, a credit rating of BBB- or higher.

  • Moody’s Rating means, at any time, the rating issued by Moody's and xxxx xx effect with respect to the Borrower's senior unsexxxxx xong-term debt securities without third-party credit enhancement.

  • First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Indebtedness as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Funded Debt Ratio means, as of the end of a quarter, the ratio of (A) Borrower’s consolidated obligations for borrowed money and obligations evidenced by bonds, debentures, notes, bills or other similar instruments to (B)

  • Senior Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Credit Rating means, with respect to any entity, the rating then assigned to such entity’s unsecured, senior long-term debt obligations (not supported by third party credit enhancements) or if such entity does not have a rating for its senior unsecured long-term debt, then the rating then assigned to such entity as an issuer rating by S&P, Moody’s or any other rating agency agreed by the Parties as set forth in the Cover Sheet.

  • Index Debt means senior, unsecured, long-term indebtedness for borrowed money of the Borrower that is not guaranteed by any other Person or subject to any other credit enhancement.

  • Applicable Rating Level at any time shall be determined in accordance with the then-applicable S&P Rating or the then-applicable Xxxxx’x Rating as follows: S&P Rating/Xxxxx’x Rating Applicable Rating Level S&P Rating AA or higher or Xxxxx’x Rating Aa2 or higher 1 S&P Rating AA- or Xxxxx’x Rating Aa3 2 S&P Rating A+ or Xxxxx’x Rating A1 3 S&P Rating A or Xxxxx’x Rating A2 4 S&P Rating A- or below or Xxxxx’x Rating A3 or below or unrated 5 The Applicable Rating Level for any day shall be determined based upon the higher of the S&P Rating and the Xxxxx’x Rating in effect on such day. If the S&P Rating and the Xxxxx’x Rating are not the same (i.e., a “split rating”), the higher (better) of such ratings shall control, unless the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control.

  • Consolidated Senior Secured Debt Ratio as of the last day of any period of four consecutive Fiscal Quarters, the ratio of (a) Consolidated Senior Secured Debt on such day to (b) Consolidated EBITDA for such period.

  • Specified Rating means, for the Class A(2017-2) Notes, Aaa(sf) with respect to Xxxxx’x, AAA(sf) with respect to Standard & Poor’s and AAAsf with respect to Fitch.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • First Lien Leverage Ratio means the ratio, as of any date, of (a) Consolidated First Lien Debt as of the last day of the Test Period then most recently ended to (b) Consolidated Adjusted EBITDA for the Test Period then most recently ended, in each case of the Borrower and its Restricted Subsidiaries on a consolidated basis.

  • Highest Rating Category means, with respect to a Permitted Investment, that the Permitted Investment is rated by S&P or Moody’s in the highest rating category given by that rating agency for that general category of security. By way of example, the Highest Rating Category for tax exempt municipal debt established by S&P is “A 1+” for debt with a term of one year or less and “AAA” for a term greater than one year, with corresponding ratings by Moody’s of “MIG 1” (for fixed rate) or “VMIG 1” (for variable rate) for three months or less and “Aaa” for greater than three months. If at any time (i) both S&P and Moody’s rate a Permitted Investment and (ii) one of those ratings is below the Highest Rating Category, then such Permitted Investment will, nevertheless, be deemed to be rated in the Highest Rating Category if the lower rating is no more than one rating category below the highest rating category of that rating agency. For example, a Permitted Investment rated “AAA” by S&P and “Aa3” by Moody’s is rated in the Highest Rating Category. If, however, the lower rating is more than one full rating category below the Highest Rating Category of that Rating Agency, then the Permitted Investment will be deemed to be rated below the Highest Rating Category. For example, a Permitted Investment rated “AAA” by S&P and “A1” by Moody’s is not rated in the Highest Rating Category.

  • Consolidated First Lien Net Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated First Lien Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Debt Ratio as at the last day of any fiscal quarter, the ratio of (a) Consolidated Total Debt minus Designated Cash Balances on such date to (b) Consolidated EBITDA.

  • S&P Global Ratings means S&P Global Ratings, a division of S&P Global.

  • Senior Secured Net Leverage Ratio means, as of any date of determination, the ratio of (a) Senior Secured Indebtedness on such date to (b) Consolidated Adjusted EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on or prior to such time (taken as one accounting period) in which financial statements for each quarter or fiscal year in such period have been or were required to be delivered pursuant to Section 5.01(a) or (b) without giving effect to any grace period applicable thereto.

  • Senior Secured Leverage Ratio means, as of the date of determination thereof, the ratio of (a) Consolidated Senior Secured Debt as of such date to (b) Consolidated EBITDA for the period of four (4) fiscal quarters then most recently ended.