Debt Ratings has the meaning set forth in the definition of “Applicable Rate.”
Debt Ratings means the ratings (whether explicit or implied) assigned by S&P and Xxxxx’x to the senior secured non-credit enhanced long term debt of the Borrower.
Debt Ratings means, as of any date of determination, the ratings as determined by the Rating Agencies of the Company’s non-credit-enhanced, senior unsecured long-term debt; provided that (a) if the respective Debt Ratings issued by the Rating Agencies differ by one level, then the Pricing Level for the higher of such Debt Ratings shall apply (with the Debt Rating for Pricing Level 1 being the highest and the Debt Rating for Pricing Level 5 being the lowest); (b) if the respective Debt Ratings issued by the Rating Agencies differ by more than one level, then the Pricing Level that is one Pricing Level lower than the higher of such Debt Ratings shall apply; (c) if the Company has only one Debt Rating, then the Pricing Level that is one level lower than that of such Debt Rating shall apply; and (d) if the Company does not have any Debt Rating, Pricing Level 5 shall apply. Initially, the Applicable Rate shall be determined based upon the Debt Ratings effective as of the Closing Date. Thereafter, each change in the Applicable Rate resulting from a publicly announced change in the Debt Ratings shall be effective during the period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change; provided, that if no such public announcement is made, such change in the Applicable Rate shall be effective on the date the change in the Debt Ratings is effective.
Examples of Debt Ratings in a sentence
Debt Ratings from S&P and/or Moody’s (please provide senior unsecured long term debt rating (or corporate rating if a debt rating is unavailable).
The Applicable Margin and Applicable Facility Fee Rate shall be determined in accordance with the foregoing table based on the Debt Ratings from time to time.
For purposes of this Section 5.11, if the prevailing Debt Ratings as of any date of determination are “split ratings”, the lower/lowest Debt Rating shall apply.
Debt Ratings from S&P and/or Moody’s (please provide senior unsecured long term debt rating (or corporate rating if a senior unsecured long term debt rating is unavailable).
Use commercially reasonable efforts to maintain all Debt Ratings.
More Definitions of Debt Ratings
Debt Ratings means, as of each date of determination, (a) in the event such a credit rating is issued by either Xxxxx’x or S&P, the bank debt credit rating assigned to the Indebtedness evidenced by this Agreement by that credit reporting agency, or (b) if no bank debt credit rating is assigned, the most creditworthy credit rating, actual or implicit, assigned to senior unsecured Indebtedness of Borrower by that credit rating agency.
Debt Ratings means, as of each date of determination, (a) in the event such a credit rating is issued by either Moody’s or S&P, the bank debt credit rating assigned to the Indebtedness evidenced by this Agreement by that credit reporting agency, or (b) if no bank debt credit rating is assigned, the most creditworthy credit rating, actual or implicit, assigned to senior unsecured Indebtedness of Borrower by that credit rating agency.
Debt Ratings means the applicable Senior Unsecured Debt Ratings; provided, however, (i) if no such rating is provided by Moody’s, the issuer rating assigned to the Borrower by Moody’s and (ii) if no such rating is provided by S&P, the issuer credit rating assigned to the Borrower by S&P.
Debt Ratings means the collective reference to (a) the public corporate family rating of Centuri as determined by Xxxxx’x from time to time, (b) the public corporate credit rating of Centuri as determined by S&P from time to time and (c) the public ratings with respect to the Term Loan Facility as determined by both Xxxxx’x and S&P from time to time, and “Debt Rating” means, as applicable, any of the foregoing.
Debt Ratings means the ratings determined by a Rating Agency and shall be based upon the availability of such ratings as follows:
Debt Ratings means as of any date of determination, the public rating as determined by Moody’s, S&P or Fitch, as the case may be, of the Borrower’s senior unsecured non-credit enhanced long-term indebtedness for borrowed money.
Debt Ratings means, as of any date of determination, the rating as announced by Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business (“S&P”), Fitch Ratings (“Fitch”) and Xxxxx’x Investors Service, Inc. (“Moody’s”) of: