Highest Rating Category definition

Highest Rating Category means, with respect to an Eligible Investment, that the Eligible Investment is rated by each Rating Agency in the highest rating given by that Rating Agency for that general category of security. If at any time the Bonds are not rated (and, consequently, there is no Rating Agency), then the term “Highest Rating Category” means, with respect to an Eligible Investment, that the Eligible Investment is rated by S&P or Moody’s in the highest rating given by that rating agency for that general category of security. By way of example, the Highest Rating Category for tax-exempt municipal debt established by S&P is “A-1+” for debt with a term of one year or less and “AAA” for a term greater than one year, with corresponding ratings by Moody’s of “MIG-1” (for fixed rate) or “VMIG-1” (for variable rate) for three months or less and “Aaa” for greater than three months. If at any time (a) the Bonds are not rated, (b) both S&P and Moody’s rate an Eligible Investment and (c) one of those ratings is below the Highest Rating Category, then such Eligible Investment will, nevertheless, be deemed to be rated in the Highest Rating Category if the lower rating is no more than one rating category below the highest rating category of that rating agency. For example, an Investment rated “AAA” by S&P and “Aa3” by Xxxxx’x is rated in the Highest Rating Category. If, however, the lower rating is more than one full rating category below the Highest Rating Category of that rating agency, then the Eligible Investment will be deemed to be rated below the Highest Rating Category. For example, an Eligible Investment rated “AAA” by S&P and “A1” by Xxxxx’x is not rated in the Highest Rating Category.

Highest Rating Category means, with respect to an Eligible Investment, that the Eligible Investment is rated by a Rating Agency in the highest rating given by that Rating Agency for that Rating Category, provided that such rating shall include but not be below “Aaa” or “Aaa/VMIG 1” if rated by Moody’s or “A-1+” or “AA+” if rated by S&P.

Highest Rating Category means, if the Bonds are rated by a Rating Agency, the highest rating given by that Rating Agency for that general category of security. By way of example, the Highest Rating Category for tax-exempt municipal debt established by S&P is “A-1+” for debt with a term of one year or less and “AAA” for a term greater than one year, with corresponding ratings by Moody’s of “MIG-1” (for fixed rate) or “VMIG-1” (for variable rate) for one year or less and “Aaa” for greater than one year.

Examples of Highest Rating Category in a sentence

• Obligations, in each case rated in the Highest Rating Category, of (i) any state or territory of the United States of America, (ii) any agency, instrumentality, authority or political subdivision of a state or territory or (iii) any public benefit or municipal corporation the principal of and interest on which are guaranteed by such state or political subdivision.

• Any written repurchase agreement entered into with a Qualified Financial Institution whose unsecured short term obligations are rated in the Highest Rating Category.

• Direct obligations of, and obligations on which the full and timely payment of principal and interest is unconditionally guaranteed by, any agency or instrumentality of the United States of America (other than the Federal Home Loan Mortgage Corporation) or direct obligations of the World Bank, which obligations are rated in the Highest Rating Category.

• If at any time (i) the Bonds are not rated, (ii) both S&P and Moody’s rate a money market mutual fund and (iii) one of those ratings is below the level required by this paragraph, then such money market mutual fund will, nevertheless, be deemed to be rated in the Highest Rating Category if the lower rating is no more than one rating category below the highest rating category of that rating agency.

• Notwithstanding anything else in this Paragraph (g) to the contrary and with respect only to any agreement described in this Paragraph (g) or any guarantee or insurance for any such agreement which is to be in effect for any period after the Conversion Date, any reference in this Paragraph to the “Second Highest Rating Category” will be deemed deleted so that the only acceptable rating category for such an agreement, guarantee or insurance will be the Highest Rating Category.

• Direct obligations of, and obligations on which the full and timely payment of principal and interest is unconditionally guaranteed by, any agency or instrumentality of the United States of America, (other than the Federal Home Loan Mortgage Corporation) or direct obligations of the World Bank, which obligations are rated in the Highest Rating Category.

• Direct obligations of, and obligations on which the full and timely payment of principal and interest is unconditionally guaranteed by, any agency or instrumentality of the United States of America, or direct obligations of the World Bank, which obligations are rated in the Highest Rating Category.

• Direct obligations of, and obligations on which the full and timely payment of principal and interest is unconditionally guaranteed by, any agency or instrumentality of the United States of America or direct obligations of the World Bank, which obligations are rated in the Highest Rating Category.

• Any written repurchase agreement entered into with a Qualified Financial Institution whose unsecured short-term obligations are rated in the Highest Rating Category.

• Notwithstanding anything else in this Paragraph (g) to the contrary and with respect only to any agreement described in this Paragraph or any guarantee or insurance for any such agreement which is to be in effect for any period after the Conversion Date, any reference in this Paragraph to the “Second Highest Rating Category” will be deemed deleted so that the only acceptable rating category for such an agreement, guarantee or insurance will be the Highest Rating Category.

More Definitions of Highest Rating Category

Highest Rating Category means an S&P rating category of “A-1+” for instruments having a term of one year or less and “AAA” for instruments having a term of greater than one year, and a Xxxxx’x rating category of “P-1” for instruments having a term of one year or less and “Aaa” for instruments having a term greater than one year.

Highest Rating Category means, with respect to a Permitted Investment, that the Permitted Investment is rated by S&P or Moody’s in the highest rating given by that rating agency for that general category of security.

Highest Rating Category means an S&P rating category of “A-1+” for instruments having a term of one year or less and “AAA” for instruments having a term of greater than one year, and a Xxxxx’x rating category of “P-1” for instruments having a term of one year or less and “Aaa” for instruments having a term greater than one year. Master Credit Facility Agreement Camden 2008 EXHIBIT B Principal Place of Business and Chief Executive Office Master Credit Facility Agreement Camden 2008 EXHIBIT V TO MASTER CREDIT FACILITY AGREEMENT LETTER OF CREDIT [Letter of Credit Issuer’s Letter of Credit Form] [Bank’s letterhead] IRREVOCABLE LETTER OF CREDIT NO. , 20 Xxxxxx Xxx Multifamily Operations — Asset Management Drawer # AM 0000 Xxxxxxxxx Xxxxxx, X.X. Xxxxxxxxxx, XX 00000 Re: DRA/Wrangler Facility Dear Sir or Madam: For the account of [Insert name of account party/customer], we hereby open in your favor our Irrevocable Letter of Credit No. (“Credit”) for an amount not exceeding a total of U.S. $ , effective immediately and expiring on , 20 .1 Funds under this Credit are available to you against a sight draft(s) on us completed by you or [LENDER] on your behalf2, completed in substantially the form attached as Exhibit I, for all or any part of this Credit. We will promptly honor all drafts drawn in compliance with the terms of this Credit if received on or before the expiration date at [Insert Bank’s address]. 1 Must have a term of at least one year.

Highest Rating Category means, with respect to a Permitted Investment, that the Permitted Investment is rated 0\/ S& P or Moody's in the highest rating given 0\/ that rating agency for that general category of security. By way of example, the Highest Rating Category for tax exem[X municipal delX estall ished 0\/ S& P is "A-1-jC' for debt with a term of one year or less and "AAA" for a term greaterthan one year, with corresponding ratings 0\/ Moody's of "M IG-1" (for fixed rate) or "VMIG-1" (for variable rate) for three months or less and "Aaa'.' for greater than three months. If at any time (i) bcth S& P and Moody's rate a Permitted Investment and (ii) one of those ratings is belcw the Highest Rating Category, then such Permitted Investment will, nevertheless, be deemed to be rated i n the H i ghest R ati ng Category if the I avver rati ng i s no more than one rati ng category bel cw the hi ghest rati ng category of that rati ng agency. For example, a Permitted Investment rated "AAA" 0\/ S& P and "Aa3" 0\/ Moody's is rated in the Highest Rating Category. If, havvever, the I ewer rating is more than one full rating category belavv the Highest Rating Category of that rating agency, then the Permitted Investment will be deemed to be rated belavv the Highest Rating Category. For example, a Permitted Investment rated "AAA" 0\/ S& P and "A 1" 0\/ Moody's is not rated in the Highest Rating Category.

Highest Rating Category means, with respect to a Permitted Investment, that the Permitted Investment is rated by S&P or Moody’s in the highest rating given by that rating agency for that general category of security. By way of example, the Highest Rating Category for tax exempt municipal debt established by S&P is “A 1+” for debt with a term of one year or less and “AAA” for a term greater than

Highest Rating Category means (i) for S&P (A) with respect to short term obligations, "A-1+" by S&P, and (B) with respect to long term obligations, "AAA" by S&P and (ii) with respect to Xxxxx'x as set forth in the table below: Maturity Aaa-Rated Securities -------- -------------------- One Month A2 or Prime-1 Three Months A1 and Prime-1 Six Months Aa3 and Prime-1 Over Six Months Aaa and Prime-1