Reference Ratings means, with respect to any Borrower, the ratings assigned by S&P and Xxxxx’x to the senior unsecured non-credit enhanced debt of such Borrower; provided that, if there is no such rating, “Reference Ratings” shall mean the ratings that are one level below the respective ratings assigned by S&P and Xxxxx’x to the senior secured debt of such Borrower.
Reference Ratings means the ratings assigned by S&P and Moody’s to the senior unsecured non-credit-enhanced long term debt of the Borrower.
Reference Ratings means, (a) with respect to Eversource, the rating(s) assigned by S&P and/or Moody’s to the long-term senior unsecured non-credit enhanced debt (the “Borrower Unsecured Debt”) of Eversource and (b) with respect to each Borrower other than Eversource, the rating(s) assigned by S&P and/or Moody’s to the Borrower Unsecured Debt of such Borrower; provided, that with respect to any Borrower other than Eversource:
Examples of Reference Ratings in a sentence
If two or more Reference Ratings are unavailable as of the date any determination of the Applicable Margin is to occur, Borrower and the Banks will negotiate in good faith to agree on an alternative method for establishing the Applicable Margin for any affected Advances.
The committee members are appointed by the Dean in consultation with the Executive Committee of the Faculty Council.
LEVEL 6Reference Ratings lower than BB+ by S&P and Ba1 by Xxxxx’x, or no Reference Ratings.
A change in the Applicable Margin resulting from a change in the Applicable Rating Level shall become effective upon the date of announcement of a change in the Reference Ratings that results in a change in the Applicable Rating Level.
Applicant requests Reference Ratings from 2 EMCIs. Rating form is available to EMCIs in My Trainer Center Resources Certification/Preparation.
More Definitions of Reference Ratings
Reference Ratings means (i) (A) the ratings assigned by S&P and Moody’s to the senior unsecured non-credit-enhanced long term debt of the Borrower (the “Reference Securities”) or, (B) in the event that only one of S&P and Moody’s has assigned a rating to the Reference Securities, the rating assigned by one of S&P and Moody’s to the Reference Securities together with the issuer rating of the Borrower assigned by the other of S&P and Moody’s or, (C) in the event that no Reference Securities are rated, the issuer ratings assigned to the Borrower by S&P and Moody’s, or (ii) in the event that none of the circumstances in clause (i) applies, (A) the ratings assigned by S&P and Moody’s to the senior unsecured long-term debt of AER that is guaranteed by the Borrower (the “AER Reference Securities”) or, (B) in the event that only one of S&P and Moody’s has assigned a rating to the AER Reference Securities, the rating assigned by one of S&P and Moody’s to the AER Reference Securities together with the issuer rating of AER assigned by the other of S&P and Moody’s or, (C) in the event that no AER Reference Securities are rated, the issuer ratings assigned to AER by S&P and Moody’s; provided, however, that in any case in which an issuer rating assigned by S&P is used to determine the Reference Ratings, the rating level that is one notch below the issuer rating assigned by S&P shall be used to determine the Reference Ratings.
Reference Ratings in this Section 1.01.
Reference Ratings means the ratings assigned by S&P and Mxxxx’x to the Index Debt; provided that if there is no such rating, “Reference Ratings” shall mean the ratings that are one Level below the rating assigned by S&P and Mxxxx’x to (i) at any time the Company’s senior secured debt shall have an assigned rating of BBB or better by S&P and Baa2 or better by Mxxxx’x, such senior secured debt of the Company, (ii) if clause (i) of this paragraph shall not be applicable, at any time FES’ senior secured debt shall have an assigned rating of BBB or better by S&P and Baa2 or better by Mxxxx’x and FES’ “Applicable Percentage” under (and as defined in) the FES Guaranty Agreement shall be 100%, such senior secured debt of FES, or (iii) at any other time, the senior secured debt of FirstEnergy. For purposes of the foregoing, if (i) there is a difference of one level in Reference Ratings of S&P and Mxxxx’x and the higher of such Reference Ratings falls in Lxxxx 0 Xxxxxx, Xxxxx 0 Xxxxxx, Xxxxx 3 Status, Level 5 Status or Level 6 Status, then the higher Reference Rating will be used to determine the applicable Status or (ii) there is a difference of more than one level in Reference Ratings of S&P and Mxxxx’x, the level that is one level above the lower of such Reference Ratings will be used to determine the applicable Status, unless the lower of such Reference Ratings falls in Level 5 Status or Level 7 Status, in which case the lower of such Reference Ratings will be used to determine the applicable Status. If there exists only one Reference Rating, such Reference Rating shall be used to determine the applicable Status.
Reference Ratings means the ratings of the credit facilities established by this Agreement by the Rating Agencies.
Reference Ratings means the ratings assigned by S&P and Moody's to the Reference Securities. For purposes of the foregoing, if the ratings assigned to such Reference Security by S&P and Moody's, respectively, are not comparable (i.e., a "split rating") by: (x) one level, the level corresponding to the lower of such two ratings shall control, or (y) two or more levels, the level corresponding to the rating one level above the lower rating of the S&P Rating or the Mxxxx'x Rating shall control, unless either rating is below BBB- or unrated (in the case of S&P) or Baa3 or unrated (in the case of Moody's), in which case the lower of the two ratings shall control.
Reference Ratings means the Credit Ratings of the Borrower.
Reference Ratings means the ratings that are one level below the respective ratings assigned by S&P and Moody’s to the senior secured debt of such Borrower; provided, further, that if MAIT has no such ratings on its senior unsecured non-credit enhanced debt or senior secured debt, then MAIT will be deemed to have Reference Ratings that correspond to the issuer/corporate family ratings assigned to MAIT by S&P and Moody’s.