Morningstar definition

Morningstar means Morningstar Credit Ratings, LLC, and its successors in interest.

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Morningstar. Morningstar Credit Ratings, LLC or its successors in interest. If neither Morningstar nor any successor remains in existence, “Morningstar” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated by the Depositor, notice of which designation shall be given to the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer and specific ratings of Morningstar herein referenced shall be deemed to refer to the equivalent ratings (as reasonably determined by the Depositor) of the party so designated.

Examples of Morningstar in a sentence

In lieu of the foregoing, but subject to this Section 3.11, the Servicer and the Special Servicer may self-insure with respect to such risks so long as the long term debt obligations or deposits of the Servicer or the Special Servicer, as applicable (or its immediate or remote parent) are rated at least (a) “A (low)” by Morningstar DBRS (to the extent rated by Morningstar DBRS) and (b) “A-” or its equivalent by Fitch (or such other rating as to which a Rating Agency Confirmation has been obtained).
In lieu of the foregoing, the Trustee, the Custodian or the Certificate Administrator, as applicable, shall be entitled to self-insure with respect to such risks so long as the Trustee, the Custodian or the Certificate Administrator, as applicable, is rated at least “A-” by S&P, “A” by Fitch, “A3” by ▇▇▇▇▇’▇, “A(low)” by Morningstar DBRS.
In lieu of the foregoing, but subject to this Section 3.11, the Servicer and the Special Servicer shall be entitled to self-insure with respect to such risks so long as it’s (or its immediate or ultimate parent’s) long term unsecured debt or deposits rating is rated no lower than: (a) “A-” by S&P, (b) “A3” by ▇▇▇▇▇’▇, (c) “A-” by Fitch, (d) “A(low)” by Morningstar DBRS, (e) “A-:VIII” by AM Best or (f) the equivalent by KBRA.
In lieu of the foregoing, the Certificate Administrator shall be entitled to self-insure with respect to such risks so long as the unsecured long term debt or issuer credit rating of the Certificate Administrator is rated at least “A” or its equivalent by Fitch and “A(low)” or its equivalent by Morningstar DBRS (or, if not rated by Morningstar DBRS, then the equivalent rating by two other NRSROs).

More Definitions of Morningstar

Morningstar means Morningstar Credit Ratings, LLC, or any of its successors in interest, assigns, and/or changed entity name or designation or other similar entity of Morningstar Credit Ratings, LLC.

Morningstar. Morningstar Credit Ratings, LLC or its successor in interest. If neither such rating agency nor any successor remains in existence, “Morningstar” shall be deemed to refer to such other NRSRO or other comparable Person reasonably designated by the Depositor, notice of which designation shall be given to the other parties hereto, and specific ratings of Morningstar herein referenced shall be deemed to refer to the equivalent ratings of the party so designated. References herein to “applicable rating category” (other than such references to “highest applicable rating category”) shall, in the case of Morningstar, be deemed to refer to such applicable rating category of Morningstar, without regard to any plus or minus or other comparable rating qualification.

Morningstar means Morningstar, Inc.

Morningstar. Morningstar Credit Ratings, LLC, or any of its successors in interest, assigns, and/or changed entity name or designation resulting from any acquisition by Morningstar, Inc. or other similar entity of Morningstar Credit Ratings, LLC. If neither Morningstar nor any successor remains in existence, “Morningstar” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person designated by the Depositor, notice of which designation shall be given to the Certificate Administrator, the Trustee, the Servicer and the Special Servicer and specific ratings of Morningstar herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.

Morningstar means Morningstar, Inc., together with its successors.

Morningstar shall have the meaning set forth in the definition of “Rating Agencies”.

Morningstar means DBRS Morningstar, Inc. and any successor thereto.