Acceptable Counterparty definition
Acceptable Counterparty means any counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of at least “A+” by S&P and “Aa3” from ▇▇▇▇▇’▇, which rating shall not include a “t” or otherwise reflect a termination risk and is otherwise reasonably acceptable to Lender.
Acceptable Counterparty means any counterparty to an Interest Rate Cap Agreement that has and maintains (a) either (i) a long-term unsecured debt rating or counterparty rating of A+ or higher from S&P, or (ii) a short-term unsecured debt rating of A-1 or higher from S&P, and (b) a long-term unsecured debt rating of Aa3 or higher from ▇▇▇▇▇’▇.
Acceptable Counterparty means a Canadian chartered bank that has a designated rating, or an affiliate of a Canadian chartered bank whose obligations are guaranteed by a Canadian chartered bank that has a designated rating and “Acceptable Counterparties” means more than one of them;
Examples of Acceptable Counterparty in a sentence
Borrower shall cause the Acceptable Counterparty to deliver within ten (10) Business Days of the Closing Date (x) the executed confirmation of the Interest Rate Cap Agreement and (y) an executed consent of such Assignment of Interest Rate Cap Agreement.
Borrower shall take all actions reasonably requested by Administrative Agent or any Lender to enforce Administrative Agent’s or such ▇▇▇▇▇▇’s rights under the Interest Rate Cap Agreement in the event of a default by the Acceptable Counterparty and shall not waive, amend or otherwise modify any of its rights thereunder.
All amounts paid by the Acceptable Counterparty under the Interest Rate Cap Agreement to Borrower or Administrative Agent shall be deposited immediately into an account as specified by Administrative Agent.
More Definitions of Acceptable Counterparty
Acceptable Counterparty means (a) a bank or other financial institution which has (i) a long term senior unsecured debt rating of “A1” or higher by ▇▇▇▇▇’▇; and (ii) a long-term senior unsecured debt rating of “A+” or higher by S&P; (b) a counterparty to the Interest Rate Cap Agreement whose obligations thereunder are guaranteed by a bank or financial institution meeting the requirements set forth in clause (a) above; or (c) a counterparty to the Interest Rate Cap Agreement that is the subject of a Rating Agency Confirmation.
Acceptable Counterparty means any Counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, credit ratings from the Rating Agencies at least equal to the First Trigger Ratings.
Acceptable Counterparty means a bank or other financial institution which has a long-term unsecured debt or counterparty rating of “AA-” (long term) and “A-1+” (short term) or higher by S&P and its equivalent by ▇▇▇▇▇’▇ and, if the counterparty is rated by Fitch, by Fitch.
Acceptable Counterparty means a Counterparty, the long-term unsecured debt rating with respect to which is at least “A1” by Moody’s and “A+” by Standard & Poor’s (or the equivalent by each of the Rating Agencies).
Acceptable Counterparty means a counterparty to the Interest Rate Cap Agreement (or the guarantor of such counterparty’s obligations) that (a) has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, (i) (x) a long-term unsecured debt rating of not less than “A” by S&P and a short-term senior unsecured debt or counterparty rating of at least “A-1” from S&P or (y) if no short-term debt rating exists, a long-term senior unsecured debt rating of at least “A+” from S&P, (ii)(x) a long-term unsecured debt or counterparty rating of not less than “A2” from ▇▇▇▇▇’▇ and a short-term senior unsecured debt or counterparty rating of at least “P1” from ▇▇▇▇▇’▇ or (y) if no short-term debt rating exists, a long-term senior unsecured debt or counterparty rating of at least “A1” from ▇▇▇▇▇’▇, and (iii) a long-term unsecured debt rating of at least “A” by Fitch and short-term unsecured debt rating of at least “F1”, or (b) is otherwise acceptable to the Approved Rating Agencies if the Loan or any part thereof is including in a Securitization, as evidenced by a Rating Agency Confirmation to the effect that such counterparty shall not cause a downgrade, withdrawal or qualification of the ratings assigned, or to be assigned, to the Securities or any class thereof in any Securitization, or is otherwise acceptable to Lender if prior to a Securitization.
Acceptable Counterparty means a counterparty to the Interest Rate Cap Agreement (or the guarantor of such counterparty’s obligations) that (i) has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, (x) a long-term unsecured debt rating of not less than “A” by S&P and (y) a long-term unsecured debt rating of not less than “A2” from ▇▇▇▇▇’▇ or (ii) is otherwise acceptable to the Approved Rating Agencies, as evidenced by a Rating Agency Confirmation to the effect that such counterparty shall not cause a downgrade, withdrawal or qualification of the ratings assigned, or to be assigned, to the Securities or any class thereof in any Securitization.
Acceptable Counterparty means any Counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of not less than “AA-” by S&P and “Aa3” by Moodys.