Benchmark Debt definition
Benchmark Debt means the Borrower's senior secured long-term debt or, in the event that the Borrower has no senior secured long-term debt rated by S&P (or by a generally recognized successor to S&P) or by Moody's (or by a generally recognized successor to Moody's), the Borrower's senior unsecured long-term debt.
Benchmark Debt means the Borrower's senior unsecured long-term debt without credit enhancement. If the Borrower has no such debt outstanding but Moody's has issued an "Issuer Rating" for the Borrower and S&P has issued a "Corporate Credit
Benchmark Debt means the Borrower's senior unsecured long-term debt without credit enhancement. If the Borrower has no such debt outstanding but Moody's has issued an "Issuer Rating" for the Borrower and S&P has iss▇▇▇ ▇ "Corporate Credit