P-1 in the case of Moody's and "AAA" or "A-1+" in the case of Standard & Poor's.
Baa2 or higher by Moody's with respect to any outstanding long-term unsecured unsubordinated debt, and, in the case of a successor Trustee or successor Securities Administrator other than pursuant to Section 10.10, rated in one of the two highest long-term debt categories of, or otherwise acceptable to, each of the Rating Agencies. The Trustee shall not be an Affiliate of the Master Servicer. If the Trustee publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 10.06 the combined capital and surplus of such corporation shall be deemed to be its total equity capital (combined capital and surplus) as set forth in its most recent report of condition so published. In case at any time the Trustee or the Securities Administrator, as applicable, shall cease to be eligible in accordance with the provisions of this Section 10.06, the Trustee or the Securities Administrator shall resign immediately in the manner and with the effect specified in Section 10.08.
Aa3 by Moody's or are rated "Aa3" by Moody's and such rating is on watch for possible downgrade (but only for so long as it is on watch for possible downgrade), or (C) either (i) the unsecured, short-term debt obligations of Party A (or its Credit Support Provider) are rated below "A-1" by S&P or (ii) if Party A (or its Credit Support Provider) does not have a short-term rating from S&P, the unsecured, long-term senior debt obligations of Party A (or its Credit Support Provider) are rated below "A+" by S&P (such event, a "Collateralization Event"), then, Party A, at its own cost and subject to the Rating Agency Condition, shall within 30 days either (i) cause another entity to replace Party A as party to this Agreement that satisfies the Swap Counterparty Ratings Requirement and that is approved by the Trustee (which approval shall not be unreasonably withheld) on terms substantially similar to this Agreement; (ii) obtain a guaranty of, or a contingent agreement of another person that satisfies the Swap Counterparty Ratings Requirement, to honor Party A's obligations under this Agreement, provided that such other person is approved by the Trustee such approval not to be unreasonably withheld; (iii) post collateral in accordance with a Credit Support Annex which satisfies the Rating Agency Condition; or (iv) establish any other arrangement satisfactory to the applicable Swap Rating Agency which will be sufficient to restore the immediately prior ratings of the Swap Certificates (determined without regard to any financial guaranty insurance policy, if applicable). All collateral posted by Party A shall be returned to Party A immediately upon Party A securing a substitute counterparty that satisfies the Swap Counterparty Ratings Requirement.
Aa2 and “P-1” for instruments with a term in excess of six months, (ii) with respect to rating assigned by S&P, “A-1” for short-term instruments and “A” for long-term instruments, and (iii) with respect to rating assigned by Fitch (if such investment is rated by Fitch), “F-1+” for short-term instruments and “AAA” for long-term instruments.
BBB by Standard & Poor's or "Baa2" by Moody's, as promptly as practicabxx xxx in any case within 90 days of the event, the Master Servicer shall, at its expense, either
Moody s” means Moody’s Investors Service, Inc.
Standard and Poor’s means Standard and Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc., and any successor or successors thereto.
A3 or higher from Moody’s; “A” or higher from Fitch; and/or the equivalent from another internationally recognised credit rating agency acceptable to the Association. If we cease to satisfy such requirement, then we shall as soon as practicable notify the Insureds and the Association in writing of the same. All notices to be given to the Association in connection with this Form shall be sent by email (as a pdf, tif or similar uneditable attachment) to xxxxx@xxxx.xxx.xx. The issuance of this document does not make the Association an additional insured, nor does it modify in any manner the contract of insurance between the Insureds and the Insurer. Date ……….………… Name of Insurer:…..…………………….. Address of Insurer ……….………… ………….………. …...…….……….. By ……….……….……….……….… Authorised signature Name ……….……….……….……….… Typed or Printed Title ……….……….……….……….… Typed or Printed V E R I F I C AT I O N O F I N S U R AN C E ISSUED TO The Offshore Pollution Liability Association Limited (hereinafter referred to as the ‘Association’). We the undersigned Insurance Broker or Agent hereby certify and agree:
Moody’s means Xxxxx’x Investors Service, Inc. and any successor thereto.
Standard & Poor’s means Standard & Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc. and any successor thereto.
Fitch means Fitch Ratings, Inc.
Standard & Poor s” or “S&P” means S&P Global Ratings, a division of S&P Global Inc., a corporation organized and existing under the laws of the State of New York, and its successors and assigns, and, if such corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, Standard & Poor's shall be deemed to refer to any other nationally recognized securities rating agency designated by the Issuer.
Standard & Poor's Glossary The Standard & Poor's LEVELS(R) Glossary, as may be in effect from time to time.
Rating means the operating limits as specified by the component manufacturer.
DBRS means DBRS, Inc., and its successors in interest.
Long-Term Rating means, for any entity (a) in the case of Moody’s, the long-term senior unsecured debt rating of such entity and (b) in the case of S&P, the long-term issuer credit rating of such entity.
Mxxxx’x Rating means, with respect to a Reference Obligation, as of any date of determination:
AAAm or "AAAM-G" by S&P) and restricted to obligations issued or guaranteed by the United States of America or entities whose obligations are backed by the full faith and credit of the United States of America and repurchase agreements collateralized by such obligations; and
Xxxxx’x Rating means, at any time, the rating issued by Xxxxx’x and then in effect with respect to the Borrower’s senior unsecured long-term debt securities without third-party credit enhancement.
Ratings As of any date of determination, the ratings, if any, of the Certificates as assigned by the Rating Agencies.
Investment Grade Credit Rating means (i) a Credit Rating of Baa3 or higher given by Xxxxx’x, (ii) a Credit Rating of BBB- or higher given by S&P or (iii) a Credit Rating of BBB- or higher given by Fitch.
S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower’s senior unsecured long-term public debt securities without third-party credit enhancement (it being understood that if the Borrower does not have any outstanding debt securities of the type described above but has an indicative rating from S&P for debt securities of such type, then such indicative rating shall be used for determining the “S&P Rating”).
A-1 Dealer Address Observe the address of the Dealer on the Contract and confirm it is in the United States. Test 3.3(a) — 2: Contract Signed Observe the Contract and confirm signatures are present for the Dealer and the Obligor. Test 3.3(a) — 3: Contract Form Observe the form number and revision date on the Contract and confirm they are on the List of Approved Contract Forms. Test 3.3(a) — 4: Valid Assignment Observe the Contract and confirm the Dealer’s signature is present as assignor on the Contract or on a separate form. Test 3.3(a) — 5: Dealer Confirmation Observe the Dealer name on the Contract and confirm it matches the Dealer name on the Dealer Assignment.
Investment Grade means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.
Risk Rating means, with respect to any Loan at any time, if such Loan is at such time (i) rated by both S&P and Moody’s, the lower of such ratings, (ii) rated by either S&P or Moody’s, such rating or (iii) not rated by either S&P or Moody’s, the rating determined by the Servicer’s risk rating model.
Kroll means Xxxxx Bond Rating Agency, Inc., and its successors in interest.