Effective Date Ratings Confirmation definition

Effective Date Ratings Confirmation means Rating Agency Confirmation as of the Effective Date, provided that no such Rating Agency Confirmation will be required from Moody's if the Effective Date Moody's Condition has been satisfied.
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Effective Date Ratings Confirmation shall have the meaning provided in Section 2.06(h).
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Effective Date Ratings Confirmation means Rating Agency Confirmation as of the Effective Date, provided that no such Rating Agency Confirmation will be required from Moody’s if the Effective Date Moody’s Condition has been satisfied.
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Examples of Effective Date Ratings Confirmation in a sentence

  • The parties acknowledge and agree that (i) the Effective Date with respect to the 2016 Notes has already occurred and Effective Date Ratings Confirmation with respect to such 2016 Notes has already been obtained and (ii) there shall be no “Effective Date” with respect to the 2019 Notes nor any obligation to obtain Effective Date Ratings Confirmation with respect thereto.

  • Special Redemption in connection with theEffective Date In connection with the Effective Date, the Secured Notesmay be redeemed to the extent necessary to obtain Effective Date Ratings Confirmation.

  • If an Effective Date Ratings Confirmation Failure occurs, the Issuer will apply certain Interest Proceeds and Principal Proceeds, including Unused Proceeds, to pay principal of the Rated Notes in accordance with the Priority of Payments.

  • See "Description of the Notes—Special Redemption." Effective Date Special Redemption In connection with the Effective Date, the Issuer may redeemthe Rated Notes in part if the Collateral Manager notifies the Trustee that a redemption is required in order to obtain Effective Date Ratings Confirmation as described under "Use of Proceeds—Effective Date." See "Description of the Notes— Special Redemption." The Issuer must satisfy certain other conditions to effect a Special Redemption.

  • On the Business Day following any Business Day on which the Effective Date Condition has been satisfied, the Collateral Manager may declare the “Effective Date” and request Effective Date Ratings Confirmation; provided that if no such declaration is made, the Effective Date will be June 19, 2013.

  • On any Distribution Date commencing on the First Full Distribution Date, if any Coverage Test is not satisfied as of any Determination Date or in the event a Continuing Effective Date Ratings Confirmation Failure has occurred and is continuing, cash flows otherwise payable to Lower Ranking Classes of Securities will be diverted to the payment of principal on Higher Ranking Classes of Rated Notes as set forth in the Priority of Payments.

  • In the event of an Effective Date Ratings Confirmation Failure, to the purchase of Collateral Obligations, until the original rating of each affected Class of Rated Notes is confirmed.

  • If an Effective Date Ratings Confirmation Failure occurs, all funds then held in the Unused Proceeds Account will be applied as Principal Proceeds on the next and succeeding Payment Dates to the extent required for such ratings to be reinstated.

  • On the first Business Day after Effective Date Ratings Confirmation has been obtained, the Trustee will, at the direction of the Collateral Manager, deposit any remaining amounts in the principal subaccount of the Ramp-Up Account into the Collection Account as Principal Proceeds, and any remaining amounts in the interest subaccount of the Ramp-Up Account shall be deposited into the Collection Account as Interest Proceeds or Principal Proceeds, at the discretion of the Collateral Manager.

  • For example, an employee may tell you that someone slipped amphetamines into his or her drink at a party, that he or she unknowingly ingested a marijuana brownie, or that he or she traveled in a closed car with several people smoking crack.


More Definitions of Effective Date Ratings Confirmation

Effective Date Ratings Confirmation means Rating Agency Confirmation as of the Effective Date, provided that no such Rating Agency Confirmation will be required from Moody’s if (a) the Issuer has provided to the Trustee and the Collateral Administrator an Accountants’ Certificate recalculating and comparing each element of the Effective Date Condition and (b) the Collateral Administrator has provided to Moody’s a Rating Agency Effective Date Report indicating that the Effective Date Condition has been satisfied.
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Effective Date Ratings Confirmation. Xxxxxx (i) written confirmation by Xxxxx’x of its Initial Rating of each Class of the Secured Notes or (ii) satisfaction of the Effective Date Xxxxx’x Condition.
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Effective Date Ratings Confirmation. Satisfaction of the Mxxxx'x Rating Condition (except that the Mxxxx'x Rating Condition shall be deemed to be satisfied if the Issuer, or the Collateral Manager on its behalf, has provided to Moody's a Passing Report) with notice by the Issuer to Fitch of the occurrence of the Effective Date.
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Related to Effective Date Ratings Confirmation

  • Ratings Confirmation means, with respect to any action proposed to be taken, a written confirmation from each of the Rating Agencies that such action would not result in (i) a reduction of the rating for any Class of Certificates below the then current rating for such Class of Certificates or (ii) a withdrawal or suspension of the rating of any Class of Certificates.

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Note Rating Agency means, with respect to any Outstanding Series, Class or Tranche of Notes, each statistical note rating agency selected by the Issuer to rate such Notes.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Tube rating chart means the set of curves which specify the rated limits of operation of the tube in terms of the technique factors.

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time short-term debt ratings in one of the two highest rating categories from the Requisite NRSROs.

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower’s senior unsecured long-term public debt securities without third-party credit enhancement (it being understood that if the Borrower does not have any outstanding debt securities of the type described above but has an indicative rating from S&P for debt securities of such type, then such indicative rating shall be used for determining the “S&P Rating”).

  • S&P Approved Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a short-term unsecured and unsubordinated debt rating from S&P of “A-1”, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “A+”.

  • Specified Rating Agencies means each of Moody’s, S&P and DBRS as long as, in each case, it has not ceased to rate the Notes or failed to make a rating of the Notes publicly available for reasons outside of the Issuer’s control; provided that if one or more of Moody’s, S&P or DBRS ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, the Issuer may select any other “designated rating organization” within the meaning of National Instrument 41-101 of the Canadian Securities Administrators as a replacement agency for such one or more of them, as the case may be.

  • Rating Confirmation means evidence that no Senior Bond rating in effect from a Rating Agency will be withdrawn or reduced solely as a result of an action to be taken under the Indenture.

  • Hedge Counterparty Ratings Requirement means (a) either (i) the unsecured, short-term debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A-1” by S&P or (ii) if the substitute counterparty does not have a short-term rating from S&P, the unsecured, long-term senior debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A+” by S&P, (b) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A1” by Moody’s (and if rated “A1” by Moody’s, such rating is not on watch for possible downgrade to below “A1”) and the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “P-1” by Moody’s (and if rated “P-1” by Moody’s, such rating is not on watch for possible downgrade and remaining on watch for possible downgrade), or (ii) if such substitute counterparty (or its Credit Support Provider) does not have a short-term debt rating from Moody’s, the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “Aa3” by Moody’s (and if rated “Aa3” by Moody’s, such rating is not on watch for possible downgrade to below “Aa3”), and (c) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A” by Fitch or (ii) the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “F1” by Fitch. For the purpose of this definition, no direct or indirect recourse against one or more shareholders of the substitute counterparty (or against any Person in control of, or controlled by, or under common control with, any such shareholder) shall be deemed to constitute a guarantee, security or support of the obligations of the substitute counterparty.

  • Step Up Rating Change means the first public announcement by either a Rating Agency or both Rating Agencies of a decrease in the credit rating of the Issuer’s senior unsecured long-term debt to below Baa3 (in the case of Moody’s) or to below BBB- (in the case of S&P). For the avoidance of doubt, any further decrease in the credit rating of the Issuer's senior unsecured long-term debt from below Baa3 in the case of Moody’s or from below BBB- in the case of S&P shall not constitute a Step Up Rating Change.

  • Approved Ratings Threshold means each of the S&P Approved Ratings Threshold and the Moody’s First Trigger Ratings Threshold.

  • Step Down Rating Change means the first public announcement after a Step Up Rating Change by one or more Rating Agencies of an increase in the Rating with the result that none of the Rating Agencies rate the Notes below Investment Grade (provided always that if less than two Rating Agencies maintain a Rating at such time the Step Down Rating Change shall not occur until at least two Rating Agencies have assigned or maintain an Investment Grade Rating); and

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Increase Confirmation means a confirmation substantially in the form set out in Schedule 12 (Form of Increase Confirmation).

  • Ratings Decline means a decrease in the rating of the Notes by both Xxxxx’x and S&P by one or more gradations (including gradations within Rating Categories as well as between Rating Categories). In determining whether the rating of the Notes has decreased by one or more gradations, gradations within Ratings Categories, namely + or - for S&P, and 1, 2, and 3 for Xxxxx’x, will be taken into account; for example, in the case of S&P, a ratings decline either from BB+ to BB or BB to BB- will constitute a decrease of one gradation.

  • Mxxxx’x Rating means, with respect to a Reference Obligation, as of any date of determination:

  • Adverse Rating Event With respect to any Class of Rated Certificates and any Rating Agency that has assigned a rating thereto, as of any date of determination, the qualification, downgrade or withdrawal of the rating then assigned to such Class of Rated Certificates by such Rating Agency (or the placement of such Class of Rated Certificates on “negative credit watch” status in contemplation of any such action with respect thereto).

  • Debt Ratings has the meaning set forth in the definition of “Applicable Rate.”

  • Index Debt Rating means the S&P Rating, the Xxxxx’x Rating and the Fitch Rating.

  • Relevant Potential Change of Control Announcement means any public announcement or statement by the Issuer, any actual or potential bidder or any adviser acting on behalf of any actual or potential bidder relating to any potential Change of Control where within 180 days following the date of such announcement or statement, a Change of Control occurs.

  • Xxxxx’x Rating means, at any time, the rating issued by Xxxxx’x and then in effect with respect to the Borrower’s senior unsecured long-term debt securities without third-party credit enhancement.

  • Debt Rating has the meaning specified in the definition of “Applicable Rate.”