Baa3 from Xxxxx’x, or (c) if such Person has a Credit Rating at such time from both S&P and Xxxxx’x, “BBB-” from S&P and “Baa3” from Xxxxx’x.
Baa3 or better by Mxxxx'x and "A" or better by DCR (or, if such company is not rated by DCR, is rated at least in an equivalent category by at least two nationally recognized statistical ratings organizations), (ii) in the case of public liability insurance policies required to be maintained with respect to REO Properties in accordance with Section 3.08(a), shall have a claims paying ability of "A" or better by S&P and Fitch (or, if such company is not rated by Fitch, is rated at least A-1X by A.M. Best's Key Rating Guide) and DCR (or, if such company is not rated by DCR, is rated at least in an equivalent category by at least two nationally recognized statistical ratings organizations) and "Baa3" or better by Mxxxx'x and (iii) in the case of the fidelity bond and the errors and omissions insurance required to be maintained pursuant to Section 3.08(c), shall have a claims paying ability rated by each Rating Agency no lower than two ratings categories (without regard to pluses or minuses or numeric qualifications) lower than the highest rating of any outstanding Class of Certificates from time to time (or if such company is not rated by DCR, is rated at least in an equivalent category by at least two nationally recognized statistical ratings organizations and, if such company is not rated by Fitch, is rated at least A-VIII by A.M. Best's Key Rating Guide), but in no event lower than "BBB" by S&P, Fitch and DCR and "Baa3" by Mxxxx'x, unless in any such case each of the Rating Agencies has confirmed in writing that obtaining the related insurance from an insurance company that is not rated by each of the Rating Agencies (subject to the foregoing exceptions) or that has a lower claims-paying ability than such requirements shall not result, in and of itself, in a downgrade, qualification or withdrawal of the then current ratings by such Rating Agency to any Class of Certificates.
Baa3 to "Baa1" "BBB-" to "BBB+" 1.50 Below "BBB-" Below "Baa3" Below "BBB-" 2.00
Examples of Baa3 in a sentence
Notwithstanding the above, a Customer with a senior long-term unsecured debt rating from any of the approved rating agencies below BBB- (or Baa3) shall be deemed to be a Non-Investment Grade Customer.
A Customer shall be deemed an Investment Grade Customer if its senior long-term unsecured debt rating is BBB- or higher by Standard & Poor’s or Fitch, or Baa3 or higher by Moody’s.
The Owner Trustee shall at all times be a corporation satisfying the provisions of Section 3807(a) of the Statutory Trust Statute; authorized to exercise corporate trust powers; having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authorities; and having (or having a parent that has) a rating of at least Baa3 by Moody's or is otherwise acceptable to the Rating Agencies.
The Indenture Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition and it or its parent shall have a long‑term debt rating of Baa3 or better by Moody’s or shall otherwise be acceptable to Moody’s.
The Owner Trustee shall at all times be a corporation satisfying the provisions of Section 3807(a) of the Business Trust Statute; authorized to exercise corporate trust powers; having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authorities; and having (or having a parent that has) a rating of at least Baa3 by Moody's and A-1 by Standard & Poor's.
More Definitions of Baa3
Baa3 from Moody's and (d) "BBB-" from S&P.
Baa3 shall be xxxxxx to refer to and include the respective rating categories correlative thereto in the event that any such Rating Agencies shall have changed or modified their generic rating categories or if any successor thereto appointed in accordance with the definitions thereof shall use different rating categories. If the Bonds are not rated by a Rating Agency, the requirement of a rating by such Rating Agency shall be disregarded. If the ratings for the Bonds are split between two of the foregoing categories, the lower rating shall determine the Prevailing Rating. If there is no rating, then the Auction Rate shall be the Maximum Auction Rate.
Baa3 or better by Moody’s. The Policies (i) shall name Lender (or an agent on Lender’s behalf) and its successors and/or assigns as their interest may appear as an additional insured or as a loss payee (except that in the case of general liability insurance, Lender (or an agent on Lender’s behalf) shall be named an additional insured and not a loss payee); (ii) shall contain a Non-Contributory Standard Lender Clause and, except with respect to general liability insurance, a Lender’s Loss Payable Endorsement, or their equivalents, naming Lender as the Person to which all payments made by such insurance company shall be paid; (iii) shall include effective waivers by the insurer of all claims for insurance premiums against all loss payees, additional insureds and named insureds (other than Borrower) and all rights of subrogation against any loss payee, additional insured or named insured; (iv) shall be assigned to Lender; (v) except as otherwise provided above, shall be subject to a deductible, if any, not greater in any material respect than the deductible for such coverage on the date hereof; (vi) shall contain such provisions as Lender deems reasonably necessary or desirable to protect its interest, including endorsements providing that neither Borrower, Lender nor any other party shall be a Contributor-insurer (except deductibles) under said Policies and that no material modification, reduction, cancellation or termination in amount of, or material change (other than an increase) in, coverage of any of the Policies shall be effective until at least thirty (30) days after receipt by each named insured, additional insured and loss payee of written notice thereof or ten (10) days after receipt of such notice with respect to nonpayment of premium; (vii) shall permit Lender to pay the premiums and continue any insurance upon failure of Borrower to pay premiums when due, upon the insolvency of Borrower or through foreclosure or other transfer of title to the Property (it being understood that Borrower’s rights to coverage under such policies may not be assignable without the consent of the insurer); and (viii) shall provide that any proceeds shall be payable to Lender and that the insurance shall not be impaired or invalidated by virtue of (A) any act, failure to act, negligence of, or violation of declarations, warranties or conditions contained in such policy by Borrower, Lender or any other named insured, additional insured or loss payee, except for the willful m...
Baa3 or higher from Moodx'x Xxxestors Service or a rating from any other nationally recognized bond rating service equivalent to or better than such a rating.
Baa3 or higher from Xxxxx'x Investors Service, Inc. (or its successors). In addition, the Indenture limits the ability of the Company and its Restricted Subsidiaries to enter into agreements that restrict distributions and dividends from Restricted Subsidiaries. The Subsidiary Guarantors, if any, may be required, or such entities may elect pursuant to the Indenture, to unconditionally, jointly and severally, guarantee on a senior basis the due and punctual payment of the principal, premium, if any, and interest on the Securities and all other amounts payable by the Company under the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Securities and the Indenture.
Baa3 or greater by Moody's (an "Investment Grade Rating"). If throughout any period of xxxx xuring the Term Guarantor fails to maintain an Investment Grade Rating, Tenant shall pay a Special Rental Advance to Landlord to be held by Landlord as security against Tenant's obligation to pay Rental hereunder. The Special Rental Advance shall be in an amount equal to one quarterly payment of Minimum Rental and shall be paid as follows: thirty (30) days after the date on which Guarantor's long term debt rating was downgraded as aforesaid, Tenant shall pay Landlord one-third (1/3) of the Special Rental Advance, thirty (30) days later Tenant shall pay Landlord an additional one-third (1/3) of the Special Rental Advance, and thirty (30) days later Tenant shall pay Landlord the final one-third (1/3) of the Special Rental Advance. Tenant shall continue to make all Rental payments due under this Lease without regard to the payment of the Special Rental Advance. If Landlord should apply all or any portion of the Special Rental Advance to any Rental due from Tenant under this Lease, Tenant, within two (2) business days after Notice from Landlord, shall replace said amount. If Guarantor subsequently achieves an Investment Grade Rating, or, on the last day of the penultimate Fiscal Quarter of the Term of this Lease, Tenant may then credit the Special Rental Advance against its next due Rental under this Lease.
Baa3 or higher by Moodx'x Xxxestors Service, Inc., or