S&P Definitions Clause Samples
The 'S&P Definitions' clause establishes that specific terms used within the agreement are to be interpreted according to the definitions provided by Standard & Poor's (S&P), a recognized financial ratings agency. In practice, this means that any references to credit ratings, financial instruments, or other terminology standardized by S&P will carry the meanings assigned by S&P's published materials. This clause ensures consistency and clarity in interpreting key financial terms, reducing ambiguity and potential disputes over their meaning.
S&P Definitions. For the purposes of this Agreement:
S&P Definitions. For the purposes of this Agreement: EXECUTION VERSION
S&P Definitions. For the purposes of this Part 5[(k)]:
S&P Definitions. For the purposes of this Agreement:
(A) an "INITIAL S&P NOTE DOWNGRADE EVENT" will occur where the short-term, unsecured and unsubordinated debt obligations of Party A, or any Credit Support Provider in respect of Party A, cease to be rated at least as high as "A-l+" (or its equivalent) by S & P; and
(B) a "SUBSEQUENT S&P NOTE DOWNGRADE EVENT" will occur where the long-term, unsecured and unsubordinated debt obligations of Party A, or any Credit Support Provider in respect of Party A, cease to be rated at least as high as "BBB-" (or its equivalent) by S&P.