Minimum Rating definition
Minimum Rating means a minimum senior unsecured debt rating (or, if unavailable, corporate or issuer rating) as defined in Section 5.4(a).
Minimum Rating. A minimum senior unsecured debt rating as defined in Appendix A of this Agreement. Minimum Transfer Amount - $100,000. NERC – The North American Electric Reliability Council or its successor. Network Integration Transmission Service or “NITS” – “Network Integration Transmission Service” under the PJM Agreements in effect as of the date of this Agreement, or its successor, superseding or amended versions of the PJM Agreements that may take effect from time to time over the term of this Agreement. In the event the PJM Agreements are modified such that “Network Integration Transmission Service” is no longer offered, Network Integration Transmission Service shall mean the type of transmission service offered under the PJM Agreements that is accorded the highest level of priority for scheduling and curtailment purposes. Non-Defaulting Party - A Party to this Agreement who, at the time an Event of Default occurs, is not itself in default of this Agreement and has not otherwise caused or precipitated an Event of Default or Early Termination of this Agreement. Off-Peak Energy Forward Price - Shall mean the price for Off-Peak Hours for each Billing Month of the delivery period stated in terms of $/MWh as based on the most recent publicly available information and/or quotes from Reference Market Makers on forward energy transactions occurring at the Market Price Hub. In the event that the Market Price Hub is no longer available or no longer representative of a transparent trading hub, the Parties will negotiate in good faith to agree upon an alternate liquid price. On-Peak Energy Forward Price – Shall mean the price for On-Peak Hours for each Billing Month of the delivery period stated in terms of $/MWh as based on the most recent publicly available information and/or quotes from Reference Market Makers on forward energy transactions occurring at the Market Price Hub. In the event that the Market Price Hub is no longer representative of a transparent trading hub, the Parties will negotiate in good faith to agree upon an alternate liquid price. PaPUC or Commission – The Pennsylvania Public Utility Commission or its successor. PJM – PJM Interconnection L.L.C. or its successor. PJM Agreements – The PJM OATT, PJM RAA, PJM OA and all other PJM agreements, procedures, manuals and documents applicable to the Transactions covered by or relating to this Agreement. PJM Control Area – That certain Control Area encompassing electric systems in parts of Delaware, Illinois, India...
Minimum Rating means (i) a rating of at least BBB- (or equivalent successor rating) by S&P and (ii) a rating of at least Baa3 (or equivalent successor rating) by Moody's.
Examples of Minimum Rating in a sentence
The Guarantor hereby certifies that it satisfies the Minimum Rating as defined in the Agreement.
The DS Supplier or its Guarantor must have a minimum senior unsecured debt rating (or, if unavailable, corporate issuer rating) equal to the Minimum Rating.
Minimum Rating – A minimum senior unsecured debt rating as defined in Appendix A of this Agreement.
If a BGS-CIEP Supplier or its Guarantor meets the Minimum Rating listed above, no security will be required as long as the Total Exposure Amount does not exceed the credit limit of the BGS-CIEP Supplier.
If a BGS-CIEP Supplier or its Guarantor meets the Minimum Rating listed above, and the Total Exposure Amount exceeds the credit limit of the BGS-CIEP Supplier, cash or letter of credit in an acceptable form as defined in Section 6.4(b) of this Agreement (see standard format in Appendix B), in an amount equal to the Total Exposure Amount above the credit limit of the BGS-CIEP Supplier will be required.
More Definitions of Minimum Rating
Minimum Rating means, for a short-term debt instrument, a rating issued by a designated rating organization, or its DRO affiliate, that is at or above one of the following ratings or that is at or above a rating that replaces one of the following:
Minimum Rating means a rating (if A.M. Best Company is the Rating Service) of B+ VIII based upon the criteria for financial strength and financial size ratings utilized by A.M. Best Company on the date of this Concession Agreement, or such equivalent rating (if A.M. Best Company is not the Rating Service or if A.M. Best Company subsequently revises its criteria for financial strength and financial size ratings) as determined in the sole discretion of the Chief Financial Officer of the Authority.
Minimum Rating means a rating (if A.M. Best Company is the Rating Service) of A- (Financial Size: X) based upon the criteria for financial strength and financial size ratings utilized by A.M. Best Company on the date of this Agreement, or such equivalent rating (if A.M. Best Company is not the Rating Service or if A.M. Best Company subsequently revises its criteria for financial strength and financial size ratings) as determined in the sole discretion of the Chief Financial Officer of Authority.
Minimum Rating means a rating of BB or higher by Standard & Poor’s or Fitch or Ba2 or higher by Moody’s.
Minimum Rating means, in respect of the short term and long term issuer rating assigned to the Swap Counterparty by Moody’s Investors Service Ltd., the lesser of such rating as of the Issue Date (being short term rating: Prime-1; long term rating: A2), and such rating as of the date of replacement.
Minimum Rating means one of the two highest long-term debt ratings, without regard to qualification by symbols, such as "+" and "-", or by numerical notations, such as "1", "2" and "3" (or if no long-term debt rating is available, one of the two highest long-term deposit ratings) obtainable from either Standard & Poor's Ratings Services ("S&P") or Moody's Investors Service, Inc. ("Moody's") (or if at any time neith▇▇ ▇&▇ nor Moody's shall issue such ratings, then from another nationally recognized rating service). The Buyers agree to pay at the Closing for all reasonable and customary fees in connection with the Letter of Credit provided, that such fees do not exceed $20,000. Each Letter of Credit shall be delivered within seven (7) days following the Closing. The Company shall have the right, at any time and from time to time, to cause to be issued and delivered to the Agent a replacement for any Letter of Credit previously issued and delivered, provided, that such replacement is substantially in the form of the Letter of Credit being exchanged or replaced therefor and is otherwise acceptable to the Agent in its sole discretion. Upon delivery of a replacement Letter of Credit, the Agent shall immediately deliver the original Letter of Credit being exchanged therefor. The Letters of Credit shall not be drawn upon by the Buyers unless the obligations of the Company pursuant to the Transaction Documents are not otherwise satisfied pursuant to the terms of the Transaction Documents.
Minimum Rating means an issuer rating of BB+ by Standard & Poor’s or a rating of Ba1 by ▇▇▇▇▇’▇ Investor Service.