Ratings Based Sample Clauses

Ratings Based. Upon ▇▇▇▇▇’▇, S&P or Fitch establishing a rating for the Index Debt (subject to the immediately following paragraph of this clause (b)), the applicable rate per annum set forth below under the caption “Eurodollar Spread”, “ABR Spread” or “Facility Fee Rate”, as the case may be, based upon the ratings by ▇▇▇▇▇’▇, S&P and/or Fitch, respectively, applicable on such date to the Index Debt: Category 1 ≥ BBB+ / Baa1 / BBB+ 0.200 % 1.550 % 0.550 % 1.750 % 0.750 % Category 2 BBB / Baa2 / BBB 0.250 % 1.750 % 0.750 % 2.000 % 1.000 % Category ▇ ▇▇▇- / ▇▇▇▇ / ▇▇▇- 0.375 % 2.000 % 1.000 % 2.375 % 1.375 % Category 4 BB+ / Ba1 / BB+ 0.600 % 2.150 % 1.150 % 2.750 % 1.750 % For purposes of the foregoing, (i) if only one of ▇▇▇▇▇’▇, S&P and Fitch shall have in effect a rating for the Index Debt, or if only two of ▇▇▇▇▇’▇, S&P and Fitch shall have in effect a rating for the Index Debt, and such ratings fall within the same Category, then the other two rating agencies, or other rating agency, shall be deemed to have established a rating in the same Category as such agency or agencies; (ii) if only two of ▇▇▇▇▇’▇, S&P and Fitch shall have in effect a rating for the Index Debt, and such ratings shall fall within different Categories, the Applicable Rate shall be based on the higher of the two ratings; (iii) if each of ▇▇▇▇▇’▇, S&P and Fitch shall have in effect a rating for the Index Debt, and such ratings shall fall within different Categories, the Applicable Rate shall be based on (x) the majority rating, if two of such ratings fall within the same Category, or (y) the middle rating, if all three of such ratings fall within different Categories, (iv) if the ratings established or deemed to have been established by ▇▇▇▇▇’▇, S&P and/or Fitch for the Index Debt shall be changed (other than as a result of a change in the rating system of ▇▇▇▇▇’▇, S&P or Fitch), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change.
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Related to Ratings Based

  • Ratings No “nationally recognized statistical rating organization” as such term is defined for purposes of Rule 436(g)(2) (i) has imposed (or has informed the Company that it is considering imposing) any condition (financial or otherwise) on the Company’s retaining any rating assigned to the Company or any securities of the Company or (ii) has indicated to the Company that it is considering any of the actions described in Section 7(c)(ii) hereof.

  • Moody’s ▇▇▇▇▇’▇ Investors Service, Inc. and its successors.

  • Rating The Notes can be issued without the requirement that they have any rating from a nationally recognized statistical rating organization.

  • Required Ratings The Offered Certificates shall have received Required Ratings of at least [ ] from [ ].

  • Ratings Letters The Depositor will have received ratings letters from the Rating Agencies that assign the ratings to the Offered Notes at least as high as the ratings stated in the Terms Annex.