Baa1 definition
Baa1 by Moody's or "BBB+" by Standard & Po▇▇'▇ (▇ "Stamping Trigger Event") and (y) the Credit Enhancer so instructs the Sponsor, the Indenture Trustee, and the Custodian in writing, the Sponsor shall cause the Custodian, within 30 days of such written instruction by the Credit Enhancer, to stamp on the blank endorsement on each loan agreement the following: "JPMorgan Chase Bank, as Indenture Trustee for the CWHEQ Revolving Home Equity Loan Trust, Series 2005-C." After the occurrence a Stamping Trigger Event and after the earlier of (i) receipt of confirmation from the Sponsor that the endorsements have been completed by the Custodian as outlined above and (ii) 60 days after the Credit Enhancer instructs the Custodian to stamp the loan agreements in accordance with this Section 2.02(e), the Credit Enhancer shall have the right to inspect the loan agreements upon 5 day's written notice to the Custodian, the Indenture Trustee and the Sponsor. If the Custodian fails to stamp the loan agreements in accordance with the requirements of this Section 2.02(e), the Custodian will make the Mortgage Loans available for stamping by the Credit Enhancer or its agent under the supervision (but not the direction) of the Custodian. All costs in connection with any stamping in accordance with this Section 2.02(e) shall be at the sole expense of the Credit Enhancer and shall not be charged to the Sponsor, the Trust or the Custodian. If a Mortgage Loan is released from the lien of the Indenture in accordance with the terms thereof the stamping shall be removed from the related loan agreement at the sole expense of the Credit Enhancer.
Baa1. 260 “Caa2” 6500
Baa1 by Moody's and "BBB+" by S&P. Rating as of Closing: Underlying Securitie▇ ▇▇▇▇: Book-entry security with DTC. Underlying Securities In certain circumstances summarized in the Redemption: Prospectus Supplement, the Underlying Securities are redeemable at the option of the Underlying Securities Issuer, in whole or in part, at any time at a redemption price equal to the greater of (i) 100% of the principal amount of the Underlying Securities to be redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest, exclusive of interest accrued to the Redemption Date, discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of 30-day months) at the Treasury Rate (as defined in Prospectus Supplement) plus 25 basis points plus accrued and unpaid interest to the date of redemption. Holders of the Underlying Securities to be redeemed will receive at least 15 days but not more than 60 days notice of that redemption. EXHIBIT A Standard Terms for Trust Agreements (begins on next page) STANDARD TERMS FOR TRUST AGREEMENTS between MERRILL LYNCH DEPOSITOR, INC., as D▇▇▇▇▇▇▇r, and UNITED STATES TRUST COMPANY OF NEW YORK, as Trustee and as Securities Intermediary TRUST CERTIFICATES Dated as of February 20, 1998 Reconciliation and tie between the Standard Terms, dated as of February 20, 1998, and the Trust Indenture Act of 1939, as amended. This reconciliation and tie does not constitute part of the Standard Terms. ================================================================================ Trust Indenture Act Standard of 1939 Section Terms Section -------------------------------------------------------------------------------- 310(a)(1) 7.07 -------------------------------------------------------------------------------- (a)(2) 7.07 -------------------------------------------------------------------------------- (a)(5) 7.07 -------------------------------------------------------------------------------- 312(a) 7.14 -------------------------------------------------------------------------------- 313(a) 7.16 -------------------------------------------------------------------------------- 314(a) 3.10 -------------------------------------------------------------------------------- (c)(1) 1.03 -------------------------------------------------------------------------------- (c)(2) 1.03 -------------------------------------------------------------------------------- (e) 1.03 ---------------------...
Examples of Baa1 in a sentence
A credit rating of BBB+ from S&P is equivalent to a credit rating of Baa1 by ▇▇▇▇▇’▇ and vice versa.
At the Closing Time, the Securities shall be rated at least Baa1 by Moody’s Investor’s Service Inc.
So long as the long-term rating of the Master Servicer is not in any event less than "BBB" as rated by S&P and "Baa1" as rated by ▇▇▇▇▇'▇, respectively, the Master Servicer may self-insure for the Servicer Fidelity Bond and the Servicer Errors and Omissions Insurance Policy.
A credit rating of BBB+ from S&P or Fitch is equivalent to a credit rating of Baa1 by ▇▇▇▇▇’▇ and vice versa.
Credit Limit to be calculated as the lesser of the % of TNW and credit limit cap below S&P ▇▇▇▇▇’▇ Fitch A.M. Best % Credit Limit Cap A- and above A3 and above A- and above aaa 16% of TNW $60,000,000 BBB+ Baa1 BBB+ aa 10% of TNW $40,000,000 BBB Baa2 BBB a 8% of TNW $30,000,000 BBB- Baa3 BBB- bbb 6% of TNW $15,000,000 Below BBB- Below Baa3 Below BBB- Below bbb 0% of TNW 0 where TNW is the Tangible Net Worth.
More Definitions of Baa1
Baa1 by Moody's and "BBB+" by S&▇. ▇▇▇ing as of Closing:
Baa1 by ▇▇▇▇▇'▇ "BBB+" by S&P. Form of Underlying Securities: Book-entry debt security with DTC EXHIBIT A Standard Terms for Trust Agreements (begins on next page) STANDARD TERMS FOR TRUST AGREEMENTS between ▇▇▇▇▇▇ ABS CORPORATION, as Depositor and THE BANK OF NEW YORK, as Trustee BOND-BACKED CERTIFICATES Dated as of February 28, 1996 TABLE OF CONTENTS Page PRELIMINARY STATEMENT...................................................... 1
Baa1 by Standard & Poor's or Moody's, respectively, if the repurchase or reverse repurchase agreement relates to marketable direct obligations that, (w) at the time of execution of the agreement, mature within 60 days, (x) are issued or unconditionally guaranteed or insured by the United States of America or any agency thereof and are backed by the full faith and credit of the United States of America, (y) provide for the payment of principal and interest (and not principal alone or interest alone) and (z) are not subject to any contingency regarding the payment of principal or interest;
Baa1. Baa2" and "Baa3", respectively, by ▇▇▇▇▇'▇ Investors Service, Inc., "AAA", "AA", "A", "A-", "BBB+", "BBB" and "BBB-" by Fitch Ratings and "AAA", "AA", "A", "A-", "BBB+", "BBB" and "BBB-", respectively, by Standard & Poor's Ratings Services, a division of The ▇▇▇▇▇▇-▇▇▇▇ Companies, Inc.
Baa1 by Moody's and "BBB+" by S&P. Rating as of Closing:
Baa1 or better by Moody's.
Baa1. Baa2" and "Baa3", respectively, by ▇▇▇▇▇'▇ Investors Service, Inc., "AAA", "AAA", "AAA", "AAA", "AA+", "AA", "AA", "AA-", "A+", "A", "A-", "BBB" and "BBB" by Fitch Ratings and "AAA", "AAA", "AAA", "AAA", "AA+", "AA", "AA-", "A+", "A", "A-", "BBB+", "BBB" and "BBB-", respectively, by Standard & Poor's Ratings Services, a division of The ▇▇▇▇▇▇-▇▇▇▇ Companies, Inc.