Recovery Rate. (b) If a recovery rate cannot be determined using clause (a), the recovery rate shall be determined using the following table. Recovery rates for Obligors Domiciled in Group A, B, C or D: Priority Category Initial Liability Rating “AAA” “AA” “A” “BBB” “BB” “B” and “CCC” Senior Secured Loans (other than First-Lien Last-Out Loans) Group A 50% 55% 59% 63% 75% 79% Group B 45% 49% 53% 58% 70% 74% Group C 39% 42% 46% 49% 60% 63% Group D 17% 19% 27% 29% 31% 34% Senior Secured Loans (Cov-Lite Loans) Group A 41% 46% 49% 53% 63% 67% Group B 37% 41% 44% 49% 59% 62% Group C 32% 35% 39% 41% 50% 53% Priority Category Initial Liability Rating Group D 17% 19% 27% 29% 31% 34% Second Lien Loans, First-Lien Last-Out Loans, Unsecured Loans* Group A 18% 20% 23% 26% 29% 31% Group B 16% 18% 21% 24% 27% 29% Group C 13% 16% 18% 21% 23% 25% Group D 10% 12% 14% 16% 18% 20% Subordinated loans Group A 8% 8% 8% 8% 8% 8% Group B 10% 10% 10% 10% 10% 10% Group C 9% 9% 9% 9% 9% 9% Group D 5% 5% 5% 5% 5% 5% Recovery rate Group A: Axxxxxxxx, Xxxxxxx, Xxxxxxx, Xxxx Xxxx, Xxx Xxxxxxxxxxx, New Zealand, Norway, Singapore, Sweden, U.K. Group B: Austria, Belgium, Canada, Germany, Israel, Japan, Luxembourg, South Africa, Switzerland, U.S. Group C: Argentina, Brazil, Chile, France, Mexico, Sxxxx Xxxxx, Xxxxxx, Xxxxxx, Xxxxxx Xxxx Xxxxxxxx. Group D: Kazakhstan, Russia, Ukraine, others Notwithstanding the foregoing, for purposes of determining the S&P Recovery Rate of a Collateral Obligation that is a Senior Secured Loan under clause (d) of the definition of the term “Senior Secured Loan”, such Collateral Obligation shall be deemed to be an Unsecured Loan. *Solely for the purpose of determining the S&P Recovery Rate for such loan, the Aggregate Principal Balance of all First-Lien Last-Out Loans, Unsecured Loans and Second Lien Loans that, in the aggregate, represent up to 15 % of the Collateral Principal Amount shall have the S&P Recovery Rate specified for First-Lien Last-Out Loans, Unsecured Loans and Second Lien Loans in the table above and the Aggregate Principal Balance of all First-Lien Last-Out Loans, Unsecured Loans and Second Lien Loans in excess of 15% of the Collateral Principal Amount shall have the S&P Recovery Rate specified for Subordinated Loans in the table above.
Recovery Rate. The recovery estimate from S&P's published reports for a given Collateral Obligation is rounded down to the nearest 5%. ** If a recovery estimate is not available from S&P's published reports for a given Collateral Obligation with an S&P Recovery Rating of '1' through '6', the lower estimate for the applicable recovery rating will be assumed.
Recovery Rate. The recovery estimate from S&P’s published reports for a given loan is rounded down to the nearest 5%. ** If a recovery estimate is not available from S&P’s published reports for a given loan with an S&P Recovery Rating of ‘1’ through ‘6’, the lower estimate for the applicable recovery rating will be assumed.
Recovery Rate. The definition of “Recovery Rate” in Section 1.1 of the TAA is hereby amended to change the section referenced therein from “Section 6.2(c)(iii)” to “Section 6.2(c)(ii)”.
Recovery Rate. (b) If a recovery rate cannot be determined using clause (a), the recovery rate shall be determined using the following table. Recovery rates for obligors Domiciled in Group A, B or C: Priority Category Initial Liability Rating
Recovery Rate. (b) If a recovery rate cannot be determined using clause (a), the recovery rate shall be determined using the following table. Recovery rates for Obligors Domiciled in Group A, B, or C: Initial Liability Rating Priority Category “AAA” “AA” “A” “BBB-” “BB-” “B” and “CCC” Senior Secured Loans (other than First-Lien Last-Out Loans) Group A 50% 55% 59% 63% 75% 79% Group B 39% 42% 46% 49% 60% 63% Group C 17% 19% 27% 29% 31% 34% Senior Secured Loans (Cov-Lite Loans, Strict Cov-Lite Loans) Group A 41% 46% 49% 53% 63% 67% Group B 32% 35% 39% 41% 50% 53% Group C 17% 19% 27% 29% 31% 34% Second Lien Loans, First-Lien Last-Out Loans, Unsecured Loans Group A 18% 20% 23% 26% 29% 31% Group B 13% 16% 18% 21% 23% 25% Group C 10% 12% 14% 16% 18% 20% Subordinated loans Group A 8% 8% 8% 8% 8% 8% Group B 8% 8% 8% 8% 8% 8% Group C 5% 5% 5% 5% 5% 5% Recovery Rate Group A: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Japan, Luxembourg, Netherlands, Norway, Poland, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States Group B: Brazil, Dubai International Finance Centre, Greece, Italy, Mexico, South Africa, Turkey and the United Arab Emirates Group C: Kazakhstan, Russian Federation, Ukraine and others not included in Group A or Group B
Recovery Rate. Type 1: U.S. or Canadian Obligor senior secured Loan with first priority perfected Lien 45 % Type 2: U.S. or Canadian Obligor senior secured “second lien” or “last-out” Loan 40 % Type 3: U.S. or Canadian Obligor senior unsecured Loan 30 % Type 4: U.S. or Canadian Obligor senior subordinated Loan or junior subordinated Loan 15 % Type 5: Non-US, Non-Canadian Obligor any Loan 0 %
Recovery Rate. Type 1 A secured Loan which (a) does not have a rating from Moody’s or (b) has a rating from Moody’s equal to (x) the Moody’s senior implied rating of the Obligor in respect of such Loan or (y) if such Obligor does not have a senior implied rating, the senior unsecured rating of such Obligor 45 % Type 2 A secured Loan which has a rating from Moody’s one subcategory higher than the Moody’s senior implied rating of the Obligor in respect of such Loan or, if such Obligor does not have a senior implied rating, the senior unsecured rating of such Obligor or, if such Obligor does not have a senior unsecured rating from Moody’s, the rating from Moody’s as determined in accordance with the definition of “Xxxxx’x Rating” 50 % Type 3 A secured Loan which has a rating from Moody’s two or more subcategories higher than the Moody’s senior implied rating of the Obligor in respect of such Loan or, if such Obligor does not have a senior implied rating, the senior unsecured rating of such Obligor or, if such Obligor does not have a senior unsecured rating from Moody’s, the rating from Moody’s as determined in accordance with the definition of “Xxxxx’x Rating” 60 % Type 4 A secured Loan that has a rating from Moody’s one subcategory below the Moody’s senior implied rating of the Obligor in respect of such Loan or, if such Obligor does not have a senior implied rating, the senior unsecured rating of such Obligor or, if such Obligor does not have a senior unsecured rating from Moody’s, the rating from Moody’s as determined in accordance with the definition of “Xxxxx’x Rating” 40 % Type 5 A secured Loan that has a rating from Moody’s two subcategories below the Moody’s senior implied rating of the Obligor in respect of such Loan or, if such Obligor does not have a senior implied rating, the senior unsecured rating of such Obligor or, if such Obligor does not have a senior unsecured rating from Moody’s, the rating from Moody’s as determined in accordance with the definition of “Xxxxx’x Rating” 30 % Type 6 A secured Loan that has a rating from Moody’s three or more subcategories below the Moody’s senior implied rating of the Obligor in respect of such Loan or, if such Obligor does not have a senior implied rating, the senior unsecured rating of such Obligor or, if such Obligor does not have a senior unsecured rating from Moody’s, the rating from Moody’s as determined in accordance with the definition of “Xxxxx’x Rating” 20 %
Recovery Rate. The term “
Recovery Rate. A recovery rate of sixty ($60.00) dollars per hour is authorized for any tow that requires the tower to be at the scene of the tow for more than one (1) hour from the point in time when the police or third-party private property owner, as appropriate, authorize the tower to commence work. After the tower is on scene for more than one hour after the police or third-party private property owner has authorized the tower to commence work, he may begin to charge for the recovery rate at $60.00 per hour in increments of fifteen (15) minutes. For example, if the tower is on scene for sixty (60) minutes or less from the time he was authorized to commence work, there is no recovery charge. If the tower is on scene for sixty-one (61) minutes through seventy-five
