Examples of Applicable Rating Agencies in a sentence
The interest rate on a series of Notes shall permanently cease to be subject to any adjustment described in this Section 4.11, notwithstanding any subsequent downgrade, if such Notes become rated BBB+ (or Baa1 with respect to Moody’s) or higher, as the case may be, by any two of the Applicable Rating Agencies (or any Substitute Rating Agency therefor), or one of these ratings if such Notes are only rated by one Applicable Rating Agency.
The Certificateholders hereby consent to and shall be bound by such amendments, provided that such amendments will not (in the reasonable opinion of the Programme Administrator taking into account the circumstances in existence at the time the amendments are made) result in the credit ratings of the Certificates being reduced, put on negative watch or withdrawn by any of the then Applicable Rating Agencies.
If the Collateral Manager is ordered by the Board of Directors or the requisite Holders to take any action which would have any such consequences, the Collateral Manager shall promptly notify the Issuer, the Applicable Rating Agencies and the Trustee of the Collateral Manager’s judgment that such action would have one or more of the consequences set forth above and need not take such action unless the Board of Directors then requests the Collateral Manager to do so.
The Committees formed for the purpose of safety and environments have continued to educate and motivate the employees on various aspects on Safety and Environment through training programme and seminars.
If at any time after an interest rate adjustment has occurred at least two of the Applicable Rating Agencies (or any Substitute Rating Agency therefor) increase their ratings assigned to the Notes to Baa3, BBB- or BBB- or higher, as the case may be, the interest rate payable on such Notes shall be decreased to the interest rate payable on such Notes on the date of their initial issuance.