Applicable Credit Ratings definition

Applicable Credit Ratings means the Borrower’s corporate credit or issuer ratings (which may be a private rating) issued by S&P or Xxxxx’x.
Sample 1Sample 2Sample 3
Applicable Credit Ratings means the Borrower’s corporate credit or issuer ratings (which may be a private rating) issued by S&P or Xxxxx’x. “Applicable Law” means all applicable provisions of constitutions, statutes, rules, regulations and orders of all governmental bodies and all orders and decrees of all courts, tribunals and arbitrators. “Applicable Margin” means, for any day with respect to any Loans, the applicable rate per annum set forth below under the caption “Base Rate - Applicable Margin” or “LIBOR Rate - Applicable Margin”, as the case may be, based upon the Rating of the Borrower in the table below: RATINGS LEVEL XXXXX’X/ S&P APPLICABLE CREDIT RATING BASE RATE - APPLICABLE MARGIN LIBOR RATE - APPLICABLE MARGIN Level I Rating Baa1/BBB+ or higher 0.15% 1.15% Level II Rating Baa2/BBB 0.3% 1.3% Level III Rating Baa3/BBB- 0.5% 1.5% Level IV Rating Below Baa3/BBB- 0.95% 1.95%
Sample 1
Applicable Credit Ratings means the ratings assigned to the Index Debt by the Rating Agencies.
Sample 1

Examples of Applicable Credit Ratings in a sentence

  • In the event that CalWest receives two (2) Applicable Credit Ratings that are not equivalent, the Applicable Facility Fee shall be determined based on the lower of such two (2) Applicable Credit Ratings.


More Definitions of Applicable Credit Ratings

Applicable Credit Ratings means (i) in the event that the credit rating levels assigned to the Company's First Mortgage Bonds by Xxxxx'x Investor Service, Inc. ("Moody's") and Standard & Poor's Rating Group ("S&P") are different, the higher of such ratings, and (ii) in the event that the credit rating levels assigned to the Company's First Mortgage Bonds by Moody's and S&P are the same, both such ratings. All determinations pursuant to this Section 1 shall be made in accordance with generally accepted accounting principles as in effect from time to time.
Sample 1

Related to Applicable Credit Ratings

  • Applicable Credit Rating For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody's. For any shxxx-xxxm deposit or security, or a rating of A-l+ in the case of S&P or P-1 in the case of Moody's.

  • Acceptable Credit Rating means a minimum long term credit rating of either BBB from Standard & Poors or Baa2 from Xxxxx’x; Access Undertaking means:

  • Credit Rating means, with respect to any entity, the rating then assigned to such entity’s unsecured, senior long-term debt obligations (not supported by third party credit enhancements) or if such entity does not have a rating for its senior unsecured long-term debt, then the rating then assigned to such entity as an issuer rating by S&P, Moody’s or any other rating agency agreed by the Parties as set forth in the Cover Sheet.

  • Investment Grade Credit Rating means (a) with respect to Fitch, a credit rating of BBB- or higher, (b) with respect to Xxxxx’x, a credit rating of Baa3 or higher and (c) with respect to S&P, a credit rating of BBB- or higher.

  • Highest Credit Rating Available The highest rating category (disregarding any plus or minus or any numerical or other subcategory) of any Rating Agency. Holders: All of the Certificateholders.

  • Applicable Credit Support Percentage As defined in Section 4.02(e).

  • Original Applicable Credit Support Percentage With respect to each of the following Classes of Subordinated Certificates, the corresponding percentage described below, as of the Closing Date: Class B-1 % Class B-2 % Class B-3 % Class B-4 % Class B-5 % Class B-6 %

  • Applicable Rating Level at any time shall be determined in accordance with the then-applicable S&P Rating or the then-applicable Xxxxx’x Rating as follows: S&P Rating/Xxxxx’x Rating Applicable Rating Level S&P Rating AA or higher or Xxxxx’x Rating Aa2 or higher 1 S&P Rating AA- or Xxxxx’x Rating Aa3 2 S&P Rating A+ or Xxxxx’x Rating A1 3 S&P Rating A or Xxxxx’x Rating A2 4 S&P Rating A- or below or Xxxxx’x Rating A3 or below or unrated 5 The Applicable Rating Level for any day shall be determined based upon the higher of the S&P Rating and the Xxxxx’x Rating in effect on such day. If the S&P Rating and the Xxxxx’x Rating are not the same (i.e., a “split rating”), the higher (better) of such ratings shall control, unless the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control.

  • Credit Rating Agency means a nationally recognized credit rating agency that evaluates the financial condition of issuers of debt instruments and then assigns a rating that reflects its assessment of the issuer’s ability to make debt payments.

  • Applicable Commitment Percentage means, with respect to each Lender at any time, a fraction, the numerator of which shall be such Lender's Revolving Credit Commitment and the denominator of which shall be the Total Revolving Credit Commitment, which Applicable Commitment Percentage for each Lender as of the Closing Date is as set forth in Exhibit A; provided that the Applicable Commitment Percentage of each Lender shall be increased or decreased to reflect any assignments to or by such Lender effected in accordance with Section 11.1.

  • Applicable Creditor has the meaning assigned to such term in Section 9.14(b).

  • Applicable Prime Rate Margin shall have the meaning provided in section 2.7(g).

  • Highest Rating Category means, with respect to a Permitted Investment, that the Permitted Investment is rated by S&P or Moody’s in the highest rating category given by that rating agency for that general category of security. By way of example, the Highest Rating Category for tax exempt municipal debt established by S&P is “A 1+” for debt with a term of one year or less and “AAA” for a term greater than one year, with corresponding ratings by Moody’s of “MIG 1” (for fixed rate) or “VMIG 1” (for variable rate) for three months or less and “Aaa” for greater than three months. If at any time (i) both S&P and Moody’s rate a Permitted Investment and (ii) one of those ratings is below the Highest Rating Category, then such Permitted Investment will, nevertheless, be deemed to be rated in the Highest Rating Category if the lower rating is no more than one rating category below the highest rating category of that rating agency. For example, a Permitted Investment rated “AAA” by S&P and “Aa3” by Moody’s is rated in the Highest Rating Category. If, however, the lower rating is more than one full rating category below the Highest Rating Category of that Rating Agency, then the Permitted Investment will be deemed to be rated below the Highest Rating Category. For example, a Permitted Investment rated “AAA” by S&P and “A1” by Moody’s is not rated in the Highest Rating Category.

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower's senior unsecured long-term debt securities without third-party credit enhancement.

  • Required Deposit Rating A rating on short-term unsecured debt obligations of P-1 by Xxxxx’x Investors Service, Inc. and A-2 by S&P Global Ratings. Any requirement that short-term unsecured debt obligations have the “Required Deposit Rating” shall mean that such short-term unsecured debt obligations have the foregoing required ratings from each of such applicable rating agencies.

  • Applicable ABR Margin means, at any date:

  • Applicable Liquidity Rate has the meaning specified in Section 3.07(g).

  • Applicable Revolver Index Margin means the per annum interest rate margin from time to time in effect and payable in addition to the Index Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Available Credit means, at any time, (a) the then effective Revolving Credit Commitments minus (b) the aggregate Revolving Credit Outstandings at such time.

  • Applicable Pricing Level means, for each Pricing Period the pricing level set forth below opposite the Debt Rating achieved by Borrower as of the first day of that Pricing Period: Pricing Level Debt Rating I Greater than or equal to A1 / A+ II Less than A1 / A+ but greater than or equal to A2 / A III Less than A2 / A but greater than or equal to A3 / A- V Less than Baa2/BBB provided that in the event that the then prevailing Debt Ratings are “split ratings”, Borrower will receive the benefit of the higher Debt Rating, unless the split is a “double split rating” (in which case the pricing level applicable to the middle Debt Rating will apply) or a “triple split rating” (in which case the pricing level applicable to the Debt Rating above the Debt Rating applicable to the lowest pricing level will apply). For purposes hereof, a Debt Rating is only a “split rating” if the Debt Rating applies to a different pricing level.

  • Applicable L/C Margin means the per annum fee, from time to time in effect, payable with respect to outstanding Letter of Credit Obligations as determined by reference to Section 1.5(a).

  • Index Debt Rating means the S&P Rating, the Xxxxx’x Rating and the Fitch Rating.

  • Eligible Credit Support means Eligible Collateral and Other Eligible Support.

  • Applicable Eurodollar Rate Margin means, with respect to any Eurodollar Rate Advance, for each Pricing Period, the interest rate margin set forth below (expressed in basis points per annum) opposite the Applicable Pricing Level for that Pricing Period: Applicable Pricing Level Margin I 52.50 II 62.50 III 72.50 IV 82.50 V 92.50

  • Applicable Commitment Fee Rate means: