Examples of Debt Rating in a sentence
The Debt Rating in effect on any date for the purposes of this Schedule is that in effect at the close of business on such date.
The Parent Corporation shall, and shall cause each other Member of the Obligated Group to, cause be maintained at all times a Debt Rating secured and evidenced by an MTI Obligation of at least “BBB” (or its equivalent) by S&P and Fitch and “Baa2” (or its equivalent) by Xxxxx’x and shall not permit any Debt Rating to be withdrawn or suspended for credit related reasons.
The Parent Corporation covenants and agrees that it shall not, nor shall it permit any other Member of the Obligated Group to, at any time withdraw any Debt Rating if the effect of such withdrawal would be to cure a Default or an Event of Default under this Agreement.
In the event that the Material Debt Ratings assigned by the three Rating Agencies are not on the same Level identified in the grid below (a “Split Rating”), the Facility Fee Rate shall be that specified for the Level which corresponds to lowest Material Debt Rating assigned.
If the Material Debt Rating assigned by all three Rating Agencies is on the same Level identified in the grid below, the Facility Fee Rate shall be the Facility Fee Rate which corresponds to that Level in the grid below.