Common use of Underlying Rating Clause in Contracts

Underlying Rating. The County shall at all times maintain a rating on its long-term unenhanced Parity Debt from at least two Rating Agencies. The County covenants and agrees that it shall not at any time withdraw any long-term unenhanced rating on its Parity Debt from any of Fitch, ▇▇▇▇▇’▇ or S&P if the effect of such withdrawal would be to cure a Default or an Event of Default under this Agreement.

Appears in 2 contracts

Sources: Continuing Covenant Agreement, Continuing Covenant Agreement