Rated Debt definition

Rated Debt means the Borrower's senior unsecured non-credit-enhanced long-term Indebtedness, which Indebtedness does not benefit from guaranties or other credit enhancement provided by any of the Borrower's Subsidiaries.

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Rated Debt means the senior, unsecured, non-third party credit enhanced, long term debt of the Borrower which is rated by any one or more of Moody’s, S&P and/or DBRS.

Rated Debt means, with respect to a counterparty,(1) in the case of S&P, (i) S&P assigns (x) a long-term debt rating equal to or higher than “A” to the counterparty, and (y) assigns a short-term debt rating equal to or higher than “A-1” to the counterparty (if the counterparty has both long-term and short-term debt ratings), or (ii) S&P assigns a long-term debt rating equal to or higher than “A+” to the counterparty (if the counterparty only has a long-term debt rating), and (2) in the case of Moody’s (i) Moody’s assigns (x) a long-term debt rating equal to or higher than “A2” to the counterparty, and (y) a short-term debt rating equal to or higher than “Prime 1” to the counterparty (if the counterparty has both long-term and short-term debt ratings), or (ii) Moody’s assigns a long-term debt rating equal to or higher than “A1” to the counterparty (if the counterparty only has a long-term debt rating).

Examples of Rated Debt in a sentence

• If the Subordinated Notes are not being redeemed on the Redemption Date for all of the Outstanding Rated Debt, unless otherwise directed to liquidate all of the Collateral by a Majority of the Subordinated Notes, the Asset Manager shall direct the liquidation of only that portion of the Collateral as may be necessary to provide sufficient funds, together with other available funds of the Issuer, to redeem the Rated Debt and pay the fees and expenses of the Issuer payable on the Redemption Date.

• On the applicable Payment Date the Special Amortization Amount will be applied to pay principal of the Rated Debt in accordance with the Priority of Payments.

• Upon receipt of the direction of the Holders of the applicable percentage (if any) of Subordinated Notes with respect to the redemption of the Rated Debt pursuant to Section 9.1(a), the Issuer shall deliver an Issuer Order to the Collateral Trustee directing the Collateral Trustee to make the payment to the Paying Agent of the applicable Redemption Price of all of the Rated Debt.

• The Issuer shall promptly notify the Collateral Trustee in writing (who shall promptly notify the Holders) if at any time the rating of any Class of Rated Debt has been, or it is known by the Issuer will be, changed or withdrawn.

• References to (i) “redemption” of Rated Debt shall be understood to refer to the prepayment of the Class A-1A Loans by the Issuer, as applicable and (ii) the “issuance” of the Rated Debt or to the “execution,” “authentication” and/or “delivery” of Rated Debt shall be understood to refer to the incurrence of the Class A-1A Loans by the Issuer pursuant to the Credit Agreement.

More Definitions of Rated Debt

Rated Debt means, in respect of any Series, any Related Debt or Associated Debt which is rated by one or more Rating Agencies where such rating was procured by the Loan Note Issuer and/or the issuer of the relevant Associated Debt and, in respect of a VFN Series only, which is expressly designated as being Rated Debt for the purposes of the transaction;

Rated Debt shall have the meaning therefor set forth in the definition of "Applicable Margin."

Rated Debt shall have the meaning set forth in the recitals hereto.

Rated Debt means, with respect to an entity, in the case of S&P, (i) S&P assigns a short-term debt rating equal to or higher than “A-1” to such entity or (ii) S&P assigns a long-term debt rating equal to or higher than “A+” to such entity (if the entity only has a long-term debt rating).

Rated Debt means, with respect to a counterparty, (i) S&P assigns (x) a long-term debt rating equal to or higher than “A” to the counterparty, and (y) assigns a short-term debt rating equal to or higher than “A-1” to the counterparty (if the counterparty has both long-term and short-term debt ratings), (ii) S&P assigns a long-term debt rating equal to or higher than “A+” to the counterparty (if the counterparty only has a long-term debt rating), (iii) Moody’s assigns (x) a long-term debt rating equal to or higher than “A1” to the counterparty, and (y) a short-term debt rating equal to or higher than “P1” to the counterparty (if the counterparty has both long-term and short-term debt ratings), (iv) Moody’s assigns a long-term debt rating equal to or higher than Aa3 to the counterparty (if the counterparty only has a long-term debt rating).

Rated Debt. The Rated Notes and the Class A-1A Loans.

Rated Debt has the meaning assigned to such term in the definition of "Applicable Interest Addition" in Section 1.01 hereof.