Minimum Counterparty Rating means (1) (a) a long term credit rating from S&P of at least “A-,” which rating shall not include a “t” or otherwise reflect a termination risk, and (b) a long term credit rating from Moody’s of at least “A3”, which rating shall not include a “t” or otherwise reflect a termination risk or (2) such other ratings acceptable to Lender in its sole discretion.
Minimum Counterparty Rating means (a) a long-term unsecured debt rating of “A+” or higher by S&P, which rating shall not include a “t” or otherwise reflect a termination risk or otherwise be qualified (or if S&P no longer rates any Counterparties the equivalent from DBRS (if rated by DBRS)); (b) either (i) a long-term senior unsecured debt rating of at least “A2” from Moody’s and a short-term unsecured debt rating of at least “P-1” from Moody’s which rating shall not include a “t” or otherwise reflect a termination risk or otherwise be qualified or (ii) if no short-term senior unsecured debt rating exists, a long-term unsecured debt rating of not less than “A1” by Moody’s which rating shall not include a “t” or otherwise reflect a termination risk or otherwise be qualified; and (c) a long-term unsecured debt rating of “A” (and not on Rating Watch Negative) or higher by Fitch and a short-term unsecured debt rating of not less than “F-1” (and not on Rating Watch Negative) from Fitch (and, after a Securitization, the equivalent of the foregoing by the other Rating Agencies). After a Securitization of the Loan, only the ratings of those Rating Agencies rating the Securities shall apply. In the event that no Counterparty meets the foregoing Minimum Counterparty Rating, such Counterparty shall be required to meet such Counterparty criteria as is reasonably acceptable to Lender (and after a Securitization, acceptable to the Rating Agencies).
Minimum Counterparty Rating means a credit rating from S&P or Fitch of at least “AA” or from Xxxxx’x of at least “Aa2”.
Examples of Minimum Counterparty Rating in a sentence
At all times during the term of the Loan Borrower shall maintain in effect an Interest Rate Protection Agreement having a term equal to the term of the Loan, with an initial notional amount equal to the amount of the Loan and with a Counterparty reasonably acceptable to Lender having a Minimum Counterparty Rating.
At all times during the term of the Loan (including during any Extension Term), Borrower shall maintain in effect an Interest Rate Protection Agreement with an initial notional amount equal to the amount of the Total Advanced Loan Amount and with a Counterparty reasonably acceptable to Agent having a Minimum Counterparty Rating.
At all times during the term of the Loan, the Affiliated Hedge Party shall maintain in effect an Interest Rate Protection Agreement, with a notional amount equal to not less than the Facility Amount and with Bank of America N.A. (so long as it maintains a Minimum Counterparty Rating) or another Counterparty acceptable to Lender having a Minimum Counterparty Rating.
In the event that the long term unsecured, unsubordinated credit rating of Party A is downgraded below Baa2 by Moody’s and BBB by S&P (such rating, the “Minimum Counterparty Rating”), Party A shall transfer all of its rights and obligations in relation to the Swap Agreement within 30 calendar days of the downgrade below the Minimum Counterparty Rating to a replacement third party, provided that such third party (or its credit support provider) has at least the Minimum Counterparty Rating.
However, the Vendor must reasonably and fairly allocate any special or all-inclusive reduced price promotions toproperly reflect the discounted Sale at Retail price for Alcoholic Beverages.
More Definitions of Minimum Counterparty Rating
Minimum Counterparty Rating means (i) if any of the Securities or any class thereof in any Securitization is rated by Moody’s, a long term unsecured rating of at least A3 by Moody’s, (ii) if any of the Securities or any class thereof in any Securitization is rated by S&P, a long-term unsecured rating of at least A+ by S&P and (iii) if any of the Securities or any class thereof in any Securitization is rated by Fitch, a long term rating of “F-1” by Fitch, which in all cases such rating shall not include a “t” or otherwise reflect a termination risk.
Minimum Counterparty Rating means a credit rating from S&P and Fitch of at least "A" and from Moody's of at least "A2".
Minimum Counterparty Rating means, unless Rating Agency Confirmation is received stating otherwise, (a) with respect to any Securities Lending Counterparty, a short-term rating of “P-1” and a long-term rating of “A1” from Moody’s and “A” from S&P, (b) with respect to any Selling Institution, a long-term rating of “A2” from Moody’s and “A” from S&P, and (c) with respect to any Synthetic Counterparty, a long-term rating of “A2” from Moody’s and “A” from S&P;
Minimum Counterparty Rating means a credit rating from S&P and Fitch of at least “AA” and from Moody’s of at least “Aa2”; provided, however, that if Lender is the Counterparty, the Minimum Counterparty Rating shall mean a credit rating from S&P and Fitch of at least “AA-” and from Moody’s of at least “Aa3”. If S&P, Xxxxx’x or Fitch withdraws or downgrades the credit rating of the Counterparty below the ratings required by this definition, Borrower shall replace the Interest Rate Protection Agreement not later than fifteen (15) Business Days following written notice from Lender of such downgrade or withdrawal with an Interest Rate Protection Agreement in form and substance satisfactory to Lender (and meeting the requirements set forth in this Section 2.5) from a Counterparty acceptable to Lender having a Minimum Counterparty Rating.
Minimum Counterparty Rating means a long term unsecured rating of not less than “A-” from S&P or a short-term unsecured debt rating of not less than “A-1” by S&P and a long term unsecured credit rating from Moody’s of not less than “A3”. Notwithstanding the foregoing, SMBC Capital Markets, Inc. shall be deemed to satisfy these requirements, so long as any guarantor of SMBC Capital Markets Inc. (1) guaranties the obligations of SMBC Capital Markets Inc. pursuant to a guaranty of Interest Rate Protection Agreement reasonably acceptable to Agent and (2) maintains long-term unsecured debt ratings or short-term unsecured debt rating, as applicable, that satisfy the rating requirements of S&P and Moody’s set forth in the immediately preceding sentence of this definition.
Minimum Counterparty Rating means (a) either a short term credit rating from S&P (and if Fitch rates the entity, from Fitch) of at least “A-l” or a long term credit rating from S&P (and if Fitch rates the entity, from Fitch) of at least “A+” and (b) either (i) a long term credit rating from Moody’s of at least “Aa3” or (ii) a long term credit rating from Moody’s of at least “Al” and a short term credit rating from Moody’s of “P-l”. After a Securitization of the Loan, only the ratings of those Rating Agencies rating the Securities shall apply.
Minimum Counterparty Rating means (a) a short term credit rating from S&P of at least “A-1” (and, if Fitch rates the entity, the equivalent short term rating from Fitch) and a long term credit rating from S&P (and if Fitch rates the entity, the equivalent long term rating from Fitch) of at least “A+”, which rating shall not include a “t” or otherwise reflect a termination risk, and (b) a short term credit rating from Moody’s of “P-1” and a long term credit rating from Moody’s of at least “A1”, which rating shall not include a “t” or otherwise reflect a termination risk. After a Securitization of the Loan, only the ratings of those Rating Agencies rating the Securities shall apply. Notwithstanding the foregoing, if the Counterparty is SMBC Capital Markets Inc. (“SMBC Capital Markets Inc.”), it shall be deemed to satisfy the requirements of this definition provided that (i) its obligations under the applicable Interest Rate Cap Agreement are guaranteed by SMBC Derivative Products Limited or Sumitomo Mitsui Banking Corporation pursuant to a guaranty acceptable to Lender in its sole discretion and (ii) the debt ratings for SMBC Capital Markets, Inc.’s applicable guarantor are not lower than (a) a long term credit rating from S&P (and if Fitch rates the entity, the equivalent long term rating from Fitch) of at least “A+”, which rating shall not include a “t” or otherwise reflect a termination risk, and (b) a long term credit rating from Moody’s of at least “A1”, which rating shall not include a “t” or otherwise reflect a termination risk shall provide a guaranty agreement (in a form acceptable to Lender).