A2P2 definition
Examples of A2P2 in a sentence
If no successor Agent shall have been so appointed by the Requisite Lenders and shall have accepted such appointment within thirty (30) days after the giving of notice of resignation or removal, or the Borrower has disapproved or failed to approve a successor agent within such period, then the retiring Agent may, on behalf of the Lenders, appoint a successor Agent, which shall be a financial institution having a rating of not less than A2/P2 or its equivalent by Standard & Poor's Corporation.
Short Term Investments -- All short term investments should be in instruments which are A2/P2 or better.
If no successor Agent shall have been so appointed by the Majority Lenders and shall have accepted such appointment within thirty (30) days after the giving of notice of resignation or removal of the Borrower has disapproved or failed to approve a successor agent within such period, then the retiring Agent may, on behalf of the Lenders, appoint a successor Agent, which shall be a financial institution having a rating of not less than A2/P2 or its equivalent by Standard & Poor's Corporation.
If at any time prior to an Effective Date, the short term debt rating of a Bank Lender shall be "A-2" or "P-2" from S&P or ▇▇▇▇▇'▇, respectively (an "A-2/P-2 Event"), with negative credit implications, such Bank Lender, upon request of the Agent, shall, within 30 days of such request, assign its rights and obligations hereunder to a Replacement Lender (in the case of a New Bank Lender, such New Bank Lender shall satisfy the New Bank Lender Rating Requirement).
The Exchange Agent shall invest the funds made available to the Exchange Agent pursuant to Section 2.1 as directed by Parent on a daily basis in obligations of or guaranteed by the United States of America and backed by the full faith and credit of the United States of America or in commercial paper obligations rated A-2/P-2 or better by ▇▇▇▇▇’▇ Investors Services, Inc.
If no successor Agent shall have been so appointed by the Requisite Banks and shall have accepted such appointment within thirty (30) days after the giving of notice of resignation or removal of the Borrower has disapproved or failed to approve a successor agent within such period, then the retiring Agent may, on behalf of the Banks, appoint a successor Agent, which shall be a financial institution having a rating of not less than A2/P2 or its equivalent by Standard & Poor's Corporation.
Account assets may be invested only in Eligible Instruments: (i) bearing a credit rating of A-2/P-2 or higher for short-term investments and; (ii) bearing a credit rating of A-/A3 or higher for longer-term investments.
If no successor Agent shall have been so appointed by the Majority Lenders and shall have accepted such appointment within thirty (30) days after the giving of notice of resignation or the Borrower has disapproved or failed to approve a successor agent within such period, then the retiring Agent may, on behalf of the Lenders, appoint a successor Agent, which shall be a financial institution having a rating of not less than A2/P2 or its equivalent by Standard & Poor’s Corporation.
In addition to the above charges, a charge for the use of capital based 12 on the outstanding intercompany receivable balance and the daily Commercial Paper 13 Rate published by the Board of Governors of the Federal Reserve System for A2/P2 14 non-financial issuers will be applied.
If no successor Agent shall have been so appointed by the Majority Lenders and shall have accepted such appointment within thirty (30) days after the giving of notice of resignation or removal of the Borrower has disapproved or failed to approve a successor agent within such period, then the retiring Agent may, on behalf of the Lenders, appoint a successor Agent, which shall be a financial institution having a rating of not less than A2/P2 or its equivalent by Standard & Poor’s Corporation.