Ratings Cure definition

Ratings Cure means the satisfaction by the Master Servicer of each of the following conditions: (i) promptly following receipt of the External Rating, the Master Servicer notifies the Administrative Agent of its intention to effect a Ratings Cure, (ii) the Master Servicer takes, or causes the SPV to take, any actions permitted under this Agreement and the First Tier Agreement that Master Servicer reasonably believes would improve the rating of the facility contemplated by this Agreement and (iii) within thirty (30) days following receipt of the External Rating, obtains a new external rating of the facility contemplated by this Agreement from the rating agency that provided the External Rating (or, with the Administrative Agent's consent, from another nationally-recognized rating agency) and such new rating is at least equal to the Implied Rating.
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Ratings Cure means the satisfaction by Tech Data of each of the following conditions: (i) promptly following receipt of the External Rating, Tech Data notifies the Administrative Agent of its intention to effect a Ratings Cure, (ii) Tech Data takes, or causes the Transferor to take, any actions permitted under this Agreement and the Purchase Agreement that Tech Data reasonably believes would improve the rating of the facility contemplated by this Agreement and (iii) within thirty (30) days following receipt of the External Rating, obtains a new external rating of the facility contemplated by this Agreement from the rating agency that provided the External Rating (or, with the Administrative Agent’s consent (and the consent of any Class Agent which may have requested a rating), from another nationally-recognized rating agency) and such new rating is at least equal to the Implied Rating.
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Ratings Cure shall have the meaning assigned to it in Section 2.11 of the Funding Agreement.
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Examples of Ratings Cure in a sentence

  • The Master Servicer may effect only one such Ratings Cure prior to obtaining an External Rating that is equal to or better than the Implied Rating.

  • If the External Rating is less than the Implied Rating, then the Master Servicer may effect a Ratings Cure (as defined below).

  • For the avoidance of any doubt, neither the failure of the External Rating to be at least equal to the Minimum Required Rating nor the failure of the Parent to effect a Ratings Cure shall constitute a Liquidation Event.

  • Except as set forth in the next succeeding paragraph or if any change in Law or any change in regulatory guidelines by any Official Body requires an additional External Rating, once the External Rating has been obtained, no Funding Agent may request another External Rating hereunderIf the External Rating is less than the Implied Rating, then the Master Servicer may effect a Ratings Cure (as defined below).

  • If the External Rating actually given by such nationally-recognized rating agency is less than the minimum required rating (the “ Minimum Required Rating”) specified in the fee letter dated March 12, 2010 addressed to the Seller and the Parent, then the Parent may effect a Ratings Cure (as defined below).

  • Use backgroundSelect a pattern for the background of the table (and the text area, if you wish).

  • If the External Rating is less than the Minimum Required Rating and the Parent fails to effect a Ratings Cure, then the Administrator may, upon notice to the Parent, designate a Termination Date.

  • These projects, rather than the capability investment alternatives, form a portion of the input to the investment plan.


More Definitions of Ratings Cure

Ratings Cure means the Borrower has: (i) promptly following receipt of the External Rating, notified the Administrative Agent and the applicable Managing Agent of its intention to effect a Ratings Cure, (ii) taken, or caused the Originators to take, such actions permitted under this Agreement and the Sale Agreement that the Borrower reasonably believes would improve (or indicated as required, by the Approved Rating Agency, in order to improve) the rating of the facility contemplated by this Agreement and (iii) within sixty (60) days of receiving such External Rating obtained a new rating of the facility contemplated by this Agreement from the Approved Rating Agency that provided the initial External Rating (or, with the Administrative Agent’s consent (and the consent of any Managing Agent which may have requested a rating), from another Approved Rating Agency) and such new rating is at least equal to the Explicit Rating.
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Ratings Cure means the satisfaction by the Servicer of each of the following conditions: (x) prior to or on, or promptly following, the end of such initial sixty (60) day period, the Servicer notifies the Administrator and each Purchaser Agent of its intention to effect a Ratings Cure, (y) the Servicer takes, or causes the Seller to take, any actions permitted under this Agreement and the Receivables Sale Agreement that the Servicer reasonably believes would expedite or improve the External Rating and (z) within thirty (30) days following the end of such sixty (60) day period, the Servicer obtains an External Rating of the facility from a nationally-recognized rating agency reasonably acceptable to the Administrator and such External Rating is at least equal to the Minimum Required Rating.
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Ratings Cure has the meaning set forth in Section 10.4(b).
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Ratings Cure means the Borrower has: (i) promptly following receipt of the External Rating, notified the Administrative Agent and the applicable Managing Agent of its intention to effect a Ratings Cure, (ii) taken, or caused the Originators to take, such actions permitted under this Agreement and the Sale Agreement that the Borrower reasonably believes would improve (or indicated as required, by the Approved Rating Agency, in order to improve) the rating of the facility contemplated by this Agreement and
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Ratings Cure means the satisfaction by the Parent of each of the following conditions: (i) promptly following receipt of the External Rating, the Parent notifies the Administrator of its intention to effect a Ratings Cure, (ii) Parent takes, or causes the Seller to take, any actions permitted under this Agreement and the Purchase Agreement that Parent reasonably believes would improve the rating of the facility contemplated by this Agreement and (iii) within thirty (30) days following receipt of the External Rating, obtains a new external rating of the Asset Interest from the rating agency that provided the External Rating (or, with the Administrator’s consent, from another nationally-recognized rating agency) and the new rating is at least equal to the Minimum Required Rating.
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Ratings Cure means the Borrower has: (i) promptly following receipt of the External Rating, notified the Administrative Agent and the applicable Managing Agent of its intention to effect a Ratings Cure, (ii) taken, or caused the Originators to take, such actions permitted under this Agreement and the Sale Agreement that the Borrower reasonably believes would improve (or indicated as required, 727159853 10435078 17 CONFIDENTIAL TREATMENT REQUESTED by the Approved Rating Agency, in order to improve) the rating of the facility contemplated by this Agreement and (iii) within sixty (60) days of receiving such External Rating obtained a new rating of the facility contemplated by this Agreement from the Approved Rating Agency that provided the initial External Rating (or, with the Administrative Agent's consent (and the consent of any Managing Agent which may have requested a rating), from another Approved Rating Agency) and such new rating is at least equal to the Explicit Rating.
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Related to Ratings Cure

  • Ratings Decline means a decrease in the rating of the Notes by both Xxxxx’x and S&P by one or more gradations (including gradations within Rating Categories as well as between Rating Categories). In determining whether the rating of the Notes has decreased by one or more gradations, gradations within Ratings Categories, namely + or - for S&P, and 1, 2, and 3 for Xxxxx’x, will be taken into account; for example, in the case of S&P, a ratings decline either from BB+ to BB or BB to BB- will constitute a decrease of one gradation.

  • Rating Downgrade means either:

  • 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.

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • 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.

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Ratings Event means a downgrade by one or more gradations (including gradations within ratings categories as well as between rating categories) or withdrawal of the rating of the Notes within the Ratings Decline Period by two or more Rating Agencies (unless the applicable Rating Agency shall have put forth a written statement to the effect that such downgrade is not attributable in whole or in part to the applicable Change of Control) following which (except in the case of a withdrawal of a rating) the rating of the Notes by each such Rating Agency is below such Rating Agency’s rating of the Notes on the Issue Date.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Ratings Spread means, with respect to an SRP Calculation Period, the percentage per annum set forth below opposite the highest applicable credit rating assigned to the VRDP Shares, unless the lowest applicable rating is below A3/A-, in which case the Ratings Spread shall mean the percentage per annum set forth below opposite the lowest applicable credit rating assigned to the VRDP Shares by Moody’s, Fitch or any Other Rating Agency, in each case rating the VRDP Shares at the request of the Fund, on the SRP Calculation Date for such SRP Calculation Period:

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time short-term debt ratings in one of the two highest rating categories from the Requisite NRSROs.

  • S&P Global Ratings means S&P Global Ratings, a division of S&P Global.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Moody’s Rating means, at any time, the rating issued by Moody's and xxxx xx effect with respect to the Borrower's senior unsexxxxx xong-term debt securities without third-party credit enhancement.

  • Rating Date means the date which is 90 days prior to the earlier of (i) a Change in Control and (ii) public notice of the occurrence of a Change in Control or of the intention of the Company to effect a Change in Control.

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

  • Hedge Counterparty Ratings Requirement means (a) either (i) the unsecured, short-term debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A-1” by S&P or (ii) if the substitute counterparty does not have a short-term rating from S&P, the unsecured, long-term senior debt obligations of the substitute counterparty (or its Credit Support Provider) are rated at least “A+” by S&P, (b) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A1” by Moody’s (and if rated “A1” by Moody’s, such rating is not on watch for possible downgrade to below “A1”) and the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “P-1” by Moody’s (and if rated “P-1” by Moody’s, such rating is not on watch for possible downgrade and remaining on watch for possible downgrade), or (ii) if such substitute counterparty (or its Credit Support Provider) does not have a short-term debt rating from Moody’s, the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “Aa3” by Moody’s (and if rated “Aa3” by Moody’s, such rating is not on watch for possible downgrade to below “Aa3”), and (c) either (i) the unsecured, long-term senior debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “A” by Fitch or (ii) the unsecured, short-term debt obligations of such substitute counterparty (or its Credit Support Provider) are rated at least “F1” by Fitch. For the purpose of this definition, no direct or indirect recourse against one or more shareholders of the substitute counterparty (or against any Person in control of, or controlled by, or under common control with, any such shareholder) shall be deemed to constitute a guarantee, security or support of the obligations of the substitute counterparty.

  • Approved Ratings Threshold means each of the S&P Approved Ratings Threshold and the Moody’s First Trigger Ratings Threshold.

  • Credit Rating means the rating assigned by a Rating Agency to the senior unsecured long term Indebtedness of a Person.

  • Ratings As of any date of determination, the ratings, if any, of the Certificates as assigned by the Rating Agencies.

  • Specified Rating Agencies means each of Moody’s, S&P and DBRS as long as, in each case, it has not ceased to rate the Notes or failed to make a rating of the Notes publicly available for reasons outside of the Issuer’s control; provided that if one or more of Moody’s, S&P or DBRS ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Issuer’s control, the Issuer may select any other “designated rating organization” within the meaning of National Instrument 41-101 of the Canadian Securities Administrators as a replacement agency for such one or more of them, as the case may be.

  • Ratings Agency means any of S&P or Moody’s (collectively the ‘Ratings Agencies’).

  • Ratings Agencies means (1) S&P, Xxxxx’x and Fitch; and (2) if any of S&P, Xxxxx’x and Fitch ceases to rate the Securities or ceases to make a rating on the Securities publicly available, an entity registered as a “nationally recognized statistical rating organization” (registered as such pursuant to Rule 17g-1 of the Exchange Act) then making a rating on the Securities publicly available selected by the Company (as certified by an Officers’ Certificate), which shall be substituted for S&P, Moody’s or Fitch, as the case may be.

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of “BBB+”.

  • Credit Rating Agency means a nationally recognized credit rating agency that evaluates the financial condition of issuers of debt instruments and then assigns a rating that reflects its assessment of the issuer’s ability to make debt payments.

  • Required Ratings [Ratings] Closing Date, Location and Time: ___________ ___, 20___; offices of Cadwalader, Wickersham & Taft, LLP, New Xxxx, Xxx Yorx; 00:00 a.m. New York City time. Purchase Price for the Offered Certificates: Class Percent of Initial Aggregate ----- Principal Balance ------------------------------ Class A % Classes B-1, B-2 and B-3 % In eaxx xxxx, as offered and sold pursuant to this Terms Agreement, plus accrued interest, if applicable, thereon. Notwithstanding any other provision of the above-referenced Underwriting Agreement, all references to the Registration Statement in the Underwriting Agreement shall be with reference to File No. _________. Subject to the terms and conditions and in reliance upon the representations and warranties set forth in the above-referenced Underwriting Agreement (which is incorporated herein in its entirety and made a part hereof) as supplemented by this Terms Agreement, the Seller agrees to sell to the Underwriter, and the Underwriter agrees to purchase from the Seller, the Offered Certificates. The Underwriter has been retained solely to act as underwriter in connection with the sale of the Offered Certificates to investors (including the establishment of the price of the Offered Certificates to investors), and no fiduciary, advisory or agency relationship between Seller and the Underwriter has been created in respect of any of the transactions contemplated by this Terms Agreement, irrespective of whether the Underwriter has advised or is advising Seller on other matters. * * * If the foregoing is in accordance with your understanding of our agreement, please sign and return to the undersigned a counterpart hereof, whereupon this letter and your acceptance shall represent a binding agreement by and among the Seller, Wells Fargo Bank, N.A. and the Underwriter. Very truly yours, WELLS FARGO ASSET SECURITIES XORPORATION By: -------------------------------------- Name: Title: WELLS FARGO BANK, N.A. By: -------------------------------------- Name: Title: The foregoing Terms Agreement is hereby confirmed and accepted as of the date first above written. COUNTRYWIDE SECURITIES CORPORATION By: ----------------------------------- Name: Title: SUPPLEMENTAL INFORMATION With respect to any investor, "Supplemental Information" means any of the following types of information, to the extent omitted from the Issuer Free Writing Prospectus:

  • 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 debt securities without third-party credit enhancement.