Requisite Rating definition

Requisite Rating means a long-term, unsecured and unsubordinated debt rating from S&P or Moody's which, when considered together with the long-term, unsecured and unsubordinated debt rating of GMAC, would result in a Joint Probability of at least AA- in the case of S&P, or Aa3 in the case of Moody's.

Requisite Rating means a person with long or short term (as appropriate) unsecured debt instruments in issue which are neither subordinated nor guaranteed and which meet the following requirements:

Requisite Rating means, the rating of long or short term (as appropriate) unsecured debt instruments in issue by a person (which are neither subordinated nor guaranteed) which meet the following requirements:

Examples of Requisite Rating in a sentence

• The Pre-Maturity Test, the Interest Reserve and the Collection Loss Reserve shall be credited to dedicated accounts (on the one hand, the Cash Collateral Account, and on the other hand the Collection Loss Reserve Account) opened in the books of a bank with the Requisite Rating, provided that if the rating of such account bank is downgraded below the Requisite Rating, the Issuer shall replace such account bank within sixty (60) calendar days as from the date of such non-compliance.

• Each Order shall only be accepted by the Company if written notification has been given by the Company to the Buyer within seven (7) days from receipt of the Order from the Buyer.

• If at any time the Seller is assigned a rating which is at least equal to the Short Term Requisite Rating, the Seller may replace the GIC Provider by means of contract transfer.

• If after 10 calendar days following such downgrade or withdrawal, the Floating Rate GIC Provider is of the opinion that it may not be able to find a third party having at least the Requisite Rating to guarantee the obligations of the Floating Rate GIC Provider, it shall notify the Issuer and the Security Trustee accordingly.

• If any collateral in the form of securities is provided, the Issuer will be required to open a custody account with an entity having at least the Requisite Rating in which such securities will be held.

More Definitions of Requisite Rating

Requisite Rating means ratings which are equal to or higher than the equivalent ratings held by the Custodian at the time of the relevant assignment or novation.

Requisite Rating as defined in the definition of “Credit Rating Event.”

Requisite Rating means a long term, unsecured and unsubordinated debt rating from Moody’s which, when considered together with the long term, unsecured and unsubordinated debt rating of GMAC, would result in a Joint Probability of at least “Aa3” in the case of Moody’s, or a long-term, unsecured and unsubordinated debt rating of at least “A+” by S&P, or an unsecured, unsubordinated debt rating of at least “A” (long-term) and “F1” (short-term) by Fitch, in each case so long as the Notes are rated by such Person.

Requisite Rating. BBB- or better from S&P.

Requisite Rating means, with respect to any Person, that such Person has a Credit Rating of at least [AA-] by S&P and [Aa3] by Xxxxx’x or, if the obligations of such Person under the Acceptable Lease Collateral are secured by a perfected first priority security interest in U.S. Government Obligations, at least [A-] by S&P and [A3] by Xxxxx’x.

Requisite Rating means the requirement to hold a long term debt rating of investment grade or better from at least two of Fitch Ratings Inc., Xxxxx’x Investors Service or Standard & Poor’s Financial Services LLC.

Requisite Rating means (i) in respect of the Operating Bank or if the Operating Bank is BNP Paribas Securities Services, in respect of BNP Paribas, that its short term, unsecured, unsubordinated debt obligations are rated A-1+ by S&P and P-1 by Moody's, and (ii) in respect of the Issuer Liquidity Facility Provider and the Luxembourg Liquidity Facility Provider, that its short term, unsecured, unsubordinated debt obligations are rated A-1+ by S&P and P-1 by Moody's.