Implied Ratings definition

Implied Ratings means, with respect to Wellsford REIT, the most recent rating issued from time to time by each Rating Agency as is applicable to senior unsecured long-term debt of Wellsford REIT, or if no such senior unsecured long-term debt is outstanding, then the most recent rating issued from time to time by each Rating Agency as would hypothetically be applicable to senior unsecured long-term debt of Wellsford REIT (i.e., an implied rating).
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Examples of Implied Ratings in a sentence

  • On any date that (a) the lower of the Implied Ratings issued from time to time by either of the Rating Agencies for the Borrower is an Investment Grade Rating or (b) the Borrower has a Private Letter Rating, the Applicable Margin for Eurodollar Rate Loans shall be one and one-fifth percent (1.20%).

  • On any date that the lower of the Implied Ratings for the Borrower is not an Investment Grade Rating, or the Borrower has not obtained an Investment Grade Rating from either of the Rating Agencies, or the Borrower does not have a Private Letter Rating, the Applicable Margin for Eurodollar Rate Loans shall be one and three-eighths percent (1.375%).

  • On any date that the lower of the Implied Ratings for the Borrower is not an Investment Grade Rating or the Borrower has not obtained an Investment Grade Rating from either of the Rating Agencies, the Applicable Margin for Eurodollar Rate Loans shall be one and four-tenths percent (1.40%).

  • On any date that the higher of the Implied Ratings for the Borrower is not an Investment Grade Rating, or the Borrower has not obtained an Investment Grade Rating from either of the Rating Agencies, the Applicable Margin for Eurodollar Rate Loans shall be one and three-eighths percent (1.375%).

  • On any date that the lower of the Implied Ratings for the Borrower is not an Investment Grade Rating or the Borrower has not obtained an Investment Grade Rating from either of the Rating Agencies, the Applicable Margin for Eurodollar Rate Loans shall be one and three-tenths percent (1.30%).

  • On any date that the lower of the Implied Ratings issued from time to time by either of the Rating Agencies for the Borrower is an Investment Grade Rating, the Applicable Margin for Eurodollar Rate Loans shall be one and one-fifth percent (1.20%).

  • Moody's employs the general long-term rating scale for Senior Implied Ratings.