S&P Rating Event definition

S&P Rating Event means an Initial S&P Rating Event or a Subsequent S&P Rating Event.
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S&P Rating Event means an event which would cause S&P to downgrade, withdraw or place on "Creditwatch" with negative implications its rating of the Receivables facility.
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Examples of S&P Rating Event in a sentence

  • Such Additional Termination Event will be deemed to have occurred on the thirtieth day following the Subsequent S&P Rating Event with Party A as the sole Affected Party and all Transactions as Affected Transactions.

  • Such Additional Termination Event will be deemed to have occurred on the next Business Day after the sixtieth day following the Subsequent S&P Rating Event with Party A as the sole Affected Party and all Transactions as Affected Transactions.

  • If the action set out in subparagraph 7.2(a) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.1(a) above will be transferred by Party B to Party A and Party A will not be required to transfer any additional collateral in respect of such Subsequent S&P Rating Event.

  • If any of subparagraphs 7.1(b), 7.1(c) or 7.1(d) above are satisfied at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.1(a) will be transferred by Party B to Party A and Party A will not be required to transfer any additional collateral in respect of such Initial S&P Rating Event.

  • If any of the measures described in Part 5(g)(i)(B), Part 5(g)(i)(C) or Part 5(g)(i)(D) above are satisfied at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to Part 5(g)(i)(A) will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such Initial S&P Rating Event.

  • If any of sub-paragraphs (i)(B), (i)(C) or (i)(D) above are satisfied at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to sub-paragraph (i)(A) will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such Initial S&P Rating Event.

  • If the action set out in sub-paragraph (ii)(A) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to sub-paragraphs (i)(A) or (ii)(B) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such Subsequent S&P Rating Event.

  • This Agreement sets out four options for the definition of Initial S&P Rating Event, Subsequent S&P Rating Event and Credit Support Amount (in each case, being "Option 1", "Option 2", "Option 3" and "Option 4" respectively and each a "Replacement Option").

  • If the action set out in Part 5(g)(ii)(A) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to Part 5(g)(i)(A) or Part 5(g)(ii)(B) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such Subsequent S&P Rating Event.

  • If at any time any of the measures described in Part 5(c)(i)(B), Part 5(c)(i)(C) and Part 5(c)(i)(D) above is taken or a relevant Rating Event Remedy occurs, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to Part 5(c)(i)(A) above will be transferred by Party B back to Party A and Party A will not be required to transfer any additional collateral in respect of such Initial S&P Rating Event.