{"component": "definition", "props": {"groups": [{"samples": [{"hash": "ca7RJ6k6Qot", "uri": "/contracts/ca7RJ6k6Qot#rating-condition", "label": "Credit Agreement (Blue Owl Capital Corp)", "score": 36.2525672913, "published": true}, {"hash": "9S48wPzS9Yl", "uri": "/contracts/9S48wPzS9Yl#rating-condition", "label": "Amendment No. 1 to Loan Documents (Blue Owl Credit Income Corp.)", "score": 36.1676940918, "published": true}, {"hash": "2FzRxVJPeIE", "uri": "/contracts/2FzRxVJPeIE#rating-condition", "label": "Credit Agreement (Blue Owl Capital Corp)", "score": 35.0479125977, "published": true}], "snippet": "means, with respect to any action taken or to be taken by or on behalf of the Borrower that is expressed to be subject to such condition in any Loan Document, a condition that is satisfied if S&P has confirmed in writing (which may take the form of a press release, electronic messages, facsimile, posting to its internet website, other written communication or other means then considered industry standard) that such action will not cause the then-current rating of the Loans by S&P to be reduced or withdrawn; provided that the Rating Condition will be deemed to be satisfied with respect to any such action if (i) at the time of determination, no Loans are then rated by S&P; (ii) the Agents and all of the Lenders provide their written approval as to such action and written notice thereof is given to S&P; (iii) S&P has made a public statement to the effect that it will no longer review events or circumstances of the type requiring satisfaction of the Rating Condition in this Agreement for purposes of evaluating whether to confirm the then-current ratings (or Initial Rating) of the Loans rated by S&P; or (iv) S&P has communicated to the Borrower, the Services Provider or either Agent (or their respective counsel) that it will not review such event or circumstances for purposes of evaluating whether to confirm the then-current ratings (or Initial Rating).", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [7, 22]}, {"key": "action-taken", "type": "definition", "offset": [27, 39]}, {"key": "of-the-borrower", "type": "clause", "offset": [71, 86]}, {"key": "subject-to", "type": "clause", "offset": [111, 121]}, {"key": "loan-document", "type": "clause", "offset": [144, 157]}, {"key": "confirmed-in-writing", "type": "definition", "offset": [200, 220]}, {"key": "form-of", "type": "clause", "offset": [241, 248]}, {"key": "press-release", "type": "definition", "offset": [251, 264]}, {"key": "electronic-messages", "type": "clause", "offset": [266, 285]}, {"key": "internet-website", "type": "definition", "offset": [313, 329]}, {"key": "written-communication", "type": "definition", "offset": [337, 358]}, {"key": "industry-standard", "type": "clause", "offset": [390, 407]}, {"key": "the-loans", "type": "clause", "offset": [468, 477]}, {"key": "provided-that", "type": "definition", "offset": [513, 526]}, {"key": "time-of-determination", "type": "clause", "offset": [625, 646]}, {"key": "no-loans", "type": "clause", "offset": [648, 656]}, {"key": "the-agents", "type": "definition", "offset": [685, 695]}, {"key": "the-lenders", "type": "clause", "offset": [707, 718]}, {"key": "written-approval", "type": "clause", "offset": [733, 749]}, {"key": "notice-thereof", "type": "clause", "offset": [780, 794]}, {"key": "public-statement", "type": "definition", "offset": [833, 849]}, {"key": "review-events", "type": "clause", "offset": [887, 900]}, {"key": "satisfaction-of", "type": "clause", "offset": [940, 955]}, {"key": "for-purposes-of", "type": "clause", "offset": [995, 1010]}, {"key": "current-ratings", "type": "definition", "offset": [1050, 1065]}, {"key": "initial-rating", "type": "definition", "offset": [1070, 1084]}, {"key": "to-the-borrower", "type": "definition", "offset": [1142, 1157]}, {"key": "services-provider", "type": "definition", "offset": [1163, 1180]}], "size": 45, "hash": "a43f9f47fe76a5cd85c8cb93365c74ce", "id": 1}, {"samples": [{"hash": "f3Qp1gleSfA", "uri": "/contracts/f3Qp1gleSfA#rating-condition", "label": "364 Day Credit Agreement (Honeywell International Inc)", "score": 37.1752243042, "published": true}, {"hash": "NItjQmC5iE", "uri": "/contracts/NItjQmC5iE#rating-condition", "label": "Credit Agreement (Honeywell International Inc)", "score": 37.1752243042, "published": true}, {"hash": "5GmsXdFOqge", "uri": "/contracts/5GmsXdFOqge#rating-condition", "label": "Five Year Credit Agreement (Honeywell International Inc)", "score": 37.1752243042, "published": true}], "snippet": "has the meaning specified in Section 2.06(c)(ii).", "snippet_links": [], "size": 41, "hash": "6cc6e9883285bedd6a347e86577d9d65", "id": 2}, {"samples": [{"hash": "NItjQmC5iE", "uri": "/contracts/NItjQmC5iE#rating-condition", "label": "Credit Agreement (Honeywell International Inc)", "score": 37.1752243042, "published": true}, {"hash": "goq8BmBxc5s", "uri": "/contracts/goq8BmBxc5s#rating-condition", "label": "364 Day Credit Agreement (Honeywell International Inc)", "score": 32.2156066895, "published": true}, {"hash": "7BRcjpIc84j", "uri": "/contracts/7BRcjpIc84j#rating-condition", "label": "Five Year Credit Agreement (Honeywell International Inc)", "score": 32.2156066895, "published": true}], "snippet": "means a period commencing with notice (a \u201cRating Condition Notice\u201d) by the Administrative Agent to the Company and the Lenders to the effect that the Administrative Agent has been informed that the rating of the senior public Debt of the Company is unsatisfactory under the standard set forth in the next sentence, and ending with notice by the Administrative Agent to the Company and the Lenders to the effect that such condition no longer exists. The Administrative Agent shall give a Rating Condition Notice promptly upon receipt from the Company or any Lender of notice stating, in effect, that both of S&P and Moody\u2019s, respectively, then rate the senior public Debt of the Company lower than BBB- and Baa3. The Company agrees to give notice to the Administrative Agent forthwith upon any change in a rating by either such organization of the senior public Debt of the Company; the Administrative Agent shall have no duty whatsoever to verify the accuracy of any such notice from the Company or any Lender or to monitor independently the ratings of the senior public Debt of the Company and no Lender shall have any duty to give any such notice. The Administrative Agent shall give notice to the Lenders and the Company as to the termination of a Rating Condition promptly upon receiving a notice from the Company to the Administrative Agent (which notice the Administrative Agent shall promptly notify to the Lenders) stating that the rating of the senior public Debt of the Company does not meet the standard set forth in the second sentence of this clause (ii), and requesting that the Administrative Agent notify the Lenders of the termination of the Rating Condition. 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No Rating Condition shall be regarded as having been satisfied unless and until any conditions imposed on the effectiveness of any confirmation from any Rating Agency shall have been satisfied. Lender shall have the right in its sole discretion to waive a Rating Condition requirement with respect to any Rating Agency that Lender determines has declined to review the applicable proposal; provided that if Lender determines that any Rating Agency has declined to review a Defeasance, then the Rating Condition requirement shall not be waived but shall instead be deemed satisfied as it relates to such Rating Agency for such Defeasance.", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [7, 22]}, {"key": "proposed-action", "type": "clause", "offset": [27, 42]}, {"key": "receipt-by-lender", "type": "clause", "offset": [48, 65]}, {"key": "in-writing", "type": "clause", "offset": [82, 92]}, {"key": "outstanding-certificates", "type": "clause", "offset": [259, 283]}, {"key": "the-loan", "type": "clause", "offset": [315, 323]}, {"key": "pursuant-to-a", "type": "clause", "offset": [349, 362]}, {"key": "receipt-of", "type": "clause", "offset": [455, 465]}, {"key": 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"a23f037712fb903909d8900c5bcbba03", "id": 7}, {"samples": [{"hash": "aOsuze8NTDP", "uri": "/contracts/aOsuze8NTDP#rating-condition", "label": "Credit Agreement (Blue Owl Credit Income Corp.)", "score": 36.5701560974, "published": true}, {"hash": "2T0pwPq5ugV", "uri": "/contracts/2T0pwPq5ugV#rating-condition", "label": "Credit Agreement (Blue Owl Credit Income Corp.)", "score": 36.5318260193, "published": true}, {"hash": "npAvm1tWOY", "uri": "/contracts/npAvm1tWOY#rating-condition", "label": "Credit Agreement (Blue Owl Credit Income Corp.)", "score": 36.3812446594, "published": true}], "snippet": "means, with respect to any action taken or to be taken by or on behalf of the Borrower that is expressed to be subject to such condition in any Loan Document, a condition that is satisfied if S&P, Fitch or DBRS, as applicable, has confirmed in writing (which may take the form of a press release, electronic messages, facsimile, posting to its internet website, other written communication or 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Agent (or their respective counsel) that it will not review such event or circumstances for purposes of evaluating whether to confirm the then-current ratings (or Initial Rating).", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [7, 22]}, {"key": "action-taken", "type": "definition", "offset": [27, 39]}, {"key": "of-the-borrower", "type": "clause", "offset": [71, 86]}, {"key": "subject-to", "type": "clause", "offset": [111, 121]}, {"key": "loan-document", "type": "clause", "offset": [144, 157]}, {"key": "confirmed-in-writing", "type": "definition", "offset": [231, 251]}, {"key": "form-of", "type": "clause", "offset": [272, 279]}, {"key": "press-release", "type": "definition", "offset": [282, 295]}, {"key": "electronic-messages", "type": "clause", "offset": [297, 316]}, {"key": "internet-website", "type": "definition", "offset": [344, 360]}, {"key": "written-communication", "type": "definition", "offset": [368, 389]}, {"key": "industry-standard", "type": 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from S&P.", "snippet_links": [{"key": "crown-holdings", "type": "definition", "offset": [11, 25]}, {"key": "senior-secured", "type": "clause", "offset": [27, 41]}, {"key": "long-term-debt-rating", "type": "definition", "offset": [42, 63]}], "size": 5, "hash": "432812763002f9d597d1ca5b3fd7fbae", "id": 9}, {"samples": [{"hash": "eURmNPc1Mys", "uri": "/contracts/eURmNPc1Mys#rating-condition", "label": "Loan Agreement (Pebblebrook Hotel Trust)", "score": 21.9527721405, "published": true}, {"hash": "hVSnBBBeWpn", "uri": "/contracts/hVSnBBBeWpn#rating-condition", "label": "Loan Agreement (Pebblebrook Hotel Trust)", "score": 20.0157432556, "published": true}], "snippet": "means, with respect to any proposed action, the receipt by Lender of confirmation in writing from each of the Rating Agencies that such action shall not result, in and of itself, in a downgrade, withdrawal, or qualification of any rating then assigned to any outstanding Certificates; except that if all or any portion of the Loan has not been Securitized pursuant to a Securitization rated by the Rating Agencies, then \u201cRating Condition\u201d shall instead mean the receipt of prior written approval of both (x) the applicable Rating Agencies (if and to the extent that any portion of the Loan has been Securitized pursuant to a Securitization or series of Securitizations rated by such Rating Agencies (excluding shadow ratings)), and (y) Lender in its sole discretion. No Rating Condition shall be regarded as having been satisfied unless and until any conditions imposed on the effectiveness of any confirmation from any Rating Agency shall have been satisfied. Lender shall have the right in its sole discretion to waive a Rating Condition requirement with respect to any Rating Agency that Lender determines has declined to review the applicable proposal.", "snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [7, 22]}, {"key": "proposed-action", "type": "clause", "offset": [27, 42]}, {"key": "receipt-by-lender", "type": "clause", "offset": [48, 65]}, {"key": "in-writing", "type": "clause", "offset": [82, 92]}, {"key": "outstanding-certificates", "type": "clause", "offset": [259, 283]}, {"key": "the-loan", "type": "clause", "offset": [322, 330]}, {"key": "pursuant-to-a", "type": "clause", "offset": [356, 369]}, {"key": "receipt-of", "type": "clause", "offset": [462, 472]}, {"key": "approval-of", "type": "clause", "offset": [487, 498]}, {"key": "applicable-rating-agencies", "type": "definition", "offset": [512, 538]}, {"key": "to-the-extent", "type": "clause", "offset": [547, 560]}, {"key": "shadow-ratings", "type": "clause", "offset": [710, 724]}, {"key": "sole-discretion", "type": "clause", "offset": [750, 765]}, {"key": "no-rating", "type": "clause", "offset": [767, 776]}, {"key": "having-been", "type": "clause", "offset": [808, 819]}, {"key": "agency-shall", "type": "clause", "offset": [927, 939]}, {"key": "the-right", "type": "clause", "offset": [979, 988]}, {"key": "to-waive", "type": "clause", "offset": [1012, 1020]}], "size": 5, "hash": "08b95445886320723130df29cd8887cf", "id": 10}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIZcmF0aW5nLWNvbmRpdGlvbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "definition": {"title": "Rating Condition", "snippet": "means, with respect to any action taken or to be taken by or on behalf of the Borrower that is expressed to be subject to such condition in any Loan Document, a condition that is satisfied if S&P has confirmed in writing (which may take the form of a press release, electronic messages, facsimile, posting to its internet website, other written communication or other means then considered industry standard) that such action will not cause the then-current rating of the Loans by S&P to be reduced or withdrawn; provided that the Rating Condition will be deemed to be satisfied with respect to any such action if (i) at the time of determination, no Loans are then rated by S&P; (ii) the Agents and all of the Lenders provide their written approval as to such action and written notice thereof is given to S&P; (iii) S&P has made a public statement to the effect that it will no longer review events or circumstances of the type requiring satisfaction of the Rating Condition in this Agreement for purposes of evaluating whether to confirm the then-current ratings (or Initial Rating) of the Loans rated by S&P; or (iv) S&P has communicated to the Borrower, the Services Provider or either Agent (or their respective counsel) that it will not review such event or circumstances for purposes of evaluating whether to confirm the then-current ratings (or Initial Rating).", "size": 285, "id": "rating-condition", "examples": ["The Issuer may amend, or permit the amendment of, its LLC Agreement or Certificate of Formation, only if such amendment would satisfy the S&amp;P <strong>Rating Condition</strong>.", "Prior to effecting any Refinancing in part by Class which does not include the Class A-1 Notes, the Issuer shall satisfy the S&amp;P <strong>Rating Condition</strong> in relation to such Refinancing.", "For the avoidance of doubt, the <strong>Rating Condition</strong> shall be applicable only on and after the S&amp;P Rating Effective Date and only for so long as S&amp;P is rating any Loans."], "related": [["qualifying-condition", "Qualifying condition", "Qualifying condition"], ["failed-remarketing-condition", "Failed Remarketing Condition", "Failed Remarketing Condition"], ["preexisting-condition", "Preexisting condition", "Preexisting condition"], ["rating-date", "Rating Date", "Rating Date"], ["minimum-condition", "Minimum Condition", "Minimum Condition"]], "related_snippets": [], "updated": "2026-05-13T04:23:52+00:00"}, "json": true, "cursor": ""}}