Ratings Confirmation definition

Ratings Confirmation means, with respect to any action proposed to be taken, a written confirmation from each of the Rating Agencies that such action would not result in (i) a reduction of the rating for any Class of Certificates below the then current rating for such Class of Certificates or (ii) a withdrawal or suspension of the rating of any Class of Certificates.

Ratings Confirmation. Has the meaning specified in the Intercreditor Agreement.

Ratings Confirmation. With respect to a contemplated action to be undertaken or performed pursuant to this Agreement, a written confirmation from each Rating Agency to the effect that such action will not result in or cause the downgrading, withdrawal or qualification of the rating that would otherwise be assigned by such Rating Agency to the Notes [without the benefit of the Guaranty Policy provided by the Securities Insurer].

Examples of Ratings Confirmation in a sentence

• Ratings Confirmation: Has the meaning specified in the Intercreditor Agreement.

• The Note Trustee and the Security Trustee shall not be required to investigate any action taken by the Issuer or such Non-Responsive Rating Agency and shall treat the applicable condition or requirement to receive a Ratings Confirmation or response from each Rating Agency as having been modified with the consent of all Noteholders and all parties to the relevant Transaction Documents so that there shall be no requirement for such Ratings Confirmation or response from the Non-Responsive Rating Agency.

• Any such Ratings Confirmation may or may not be given at the sole discretion of each Rating Agency.

• A Ratings Confirmation, if given, will be given on the basis of the facts and circumstances prevailing at the relevant time and in the context of cumulative changes to the transaction of which the securities form part since the Closing Date.

• To the extent that a Ratings Confirmation cannot be obtained, whether or not a proposed action will ultimately take place will be determined in accordance with the provisions of the relevant Transaction Documents and specifically the relevant modification and waiver provisions.

More Definitions of Ratings Confirmation

Ratings Confirmation means, with respect to any action proposed to be taken, a written confirmation from each of the Rating Agencies that such action would not result in (i) a reduction of the rating for the Securities below the then current rating for the Securities (such rating as determined without regard to the Policy) or (ii) a withdrawal or suspension of the rating of the Securities.

Ratings Confirmation has the meaning specified in Section 7.18(d).

Ratings Confirmation means the written recommendations from the Rating Agencies to the effect that the subject transaction will not result in a requalification, reduction or withdrawal of any rating initially assigned or to be assigned in a Secondary Market Transaction.

Ratings Confirmation in respect of a proposed action means a confirmation by the relevant Rating Agencies, in respect of each class of the relevant Bonds, to the effect that the then ratings on such class of Bonds would not be reduced below the lower of (i) the credit ratings of such Bonds as at the Initial Issue Date or (ii) the then current credit ratings (before the proposed action).

Ratings Confirmation means the written confirmation by each Rating Agency, requested within 10 Business Days after the Invested Date or as requested pursuant to the requirements of the Indenture, that such Rating Agency has not reduced or withdrawn any of its ratings assigned on the Closing Date to the Notes.

Ratings Confirmation means, with respect to any action proposed to be taken, a written confirmation from each of the Rating Agencies that such action would not result in (i) a reduction of the rating for any Class of Certificates below the then current rating for such Class of Certificates (such ratings as determined without regard to the Policy in respect of the Class G-1 Certificates or Class G-2 Certificates) or (ii) a withdrawal or suspension of the rating of any Class of Certificates.

Ratings Confirmation has the meaning set forth in the Note Purchase Agreement.