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+”.
S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee, or an Eligible Replacement, (I) if such entity is a Financial Institution, a short-term unsecured and unsubordinated debt rating of "A-2" from S&P, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating of "BBB+" from S&P, or (II) if such entity is not a Financial Institution, a short-term unsecured and unsubordinated debt rating of "A-1" from S&P, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating of "A+" from S&P.
S&P Required Ratings Threshold means with respect to (i) Bear Stearns, a counterparty rating of "BBB" or above and (ii) with respect to any other entity (or its guarantor), a long-term unsecured and unsubordinated debt rating from S&P of "BBB-" or above.
Examples of S&P Required Ratings Threshold in a sentence
If a Required Ratings Downgrade Event has occurred and is continuing, then Party A shall, at its own expense, use commercially reasonable efforts to, as soon as reasonably practicable, either (A) effect a Permitted Transfer or (B) procure an Eligible Guarantee by a guarantor with credit ratings at least equal to the S&P Required Ratings Threshold and the Moody's Second Trigger Threshold.
If a Required Ratings Downgrade Event has occurred and is continuing, then Party A shall, at its own expense, use commercially reasonable efforts to, as soon as reasonably practicable, either (A) effect a Permitted Transfer or (B) procure an Eligible Guarantee by a guarantor with credit ratings at least equal to the S&P Required Ratings Threshold and the Moody’s Second Trigger Threshold.
If the credit ratings of the Swap Counterparty (or any related guarantor, if applicable) fall below the S&P Required Ratings Threshold or the Moody’s Required Ratings Threshold, the Swap Counterparty may be obligated to pledge additional collateral.
If a Required Ratings Downgrade Event has occurred and is continuing, then Party A shall, at its own expense, use commercially reasonable efforts to, as soon as reasonably practicable, either (A) effect a Permitted Transfer or (B) procure an Eligible Guarantee by a guarantor with credit ratings at least equal to the S&P Required Ratings Threshold and the Fitch First Trigger Ratings Threshold.
More Definitions of S&P Required Ratings Threshold
S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee, or an Eligible Replacement, (I) if such entity is a Financial Institution, a short-term unsecured and unsubordinated debt rating of “A-2” from S&P, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating of “BBB+” from S&P, or (II) if such entity is not a Financial Institution, a short-term unsecured and unsubordinated debt rating of “A-1” from S&P, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating of “A+” from S&P. [Remainder of this page intentionally left blank.] Reference Number: FXNSC10001 Citibank, N.A., not in its individual capacity but solely as Supplemental Interest Trust Trustee on behalf of the Supplemental Interest Trust with respect to the Citigroup Mortgage Loan Trust 2007-WFHE4, Asset-Backed Pass Through Certificates, Series 2007-WFHE4 October 31, 2007 Item 4. Account Details and Settlement Information:Payments to Party A:
S&P Required Ratings Threshold means a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of "BBB+".
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+”. [Remainder of this page intentionally left blank.] 4. Account Details and Settlement Information: Payments to Party A: HSBC Bank USA, National Association ABA # 021-001-088 For credit to Department 299 A/C: 000-04929-8 HSBC Derivative Products Group Payments to Party B: Wells Fargo Bank, N.A. ABA # 121-000-248 For Credit to: SAS Clearing A/C: 3970771416 FFC: NHEL 2007-1 50984501 Net Wac Reserve Fund
S&P Required Ratings Threshold means with respect to (i) Party A, a counterparty rating of “BBB-“ or above and (ii) with respect to any other entity (or its guarantor), a long-term unsecured and unsubordinated debt rating from S&P of “BBB-” or above.
S&P Required Ratings Threshold means, (i) with respect to any Relevant Entity that is a Financial Institution, a short-term unsecured and unsubordinated debt rating from S&P of “A-2” or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating from S&P of “BBB+” and (ii) with respect to any Relevant Entity that is not a Financial Institution, a short-term unsecured and unsubordinated debt rating from S&P of “A-1” or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating from S&P of “A+”. ISDA® 1992 IN WITNESS WHEREOF, the parties have executed this document by their duly authorized officers with effect from the date so specified on the first page hereof.By: /s/ Stephen A. Thatcher Name: Stephen A. Thatcher Title: Director and Counsel Region Americas Legal Fixed Income Section By: /s/ William J. Herrmann Name: William J. Herrmann Title: Assistant Treasurer By: /s/ Lori Corenthal Name: Lori Corenthal Title: Director Region Americas Legal Fixed Income Section ISDA® 1992
S&P Required Ratings Threshold means, (a) with respect to a Relevant Entity or an Eligible Replacement, as the case may be, that is a Financial Institution, a short-term unsecured and unsubordinated debt rating from S&P of at least “A-2” or, if the entity does not have a short-term unsecured rating from S&P, a long-term unsecured and unsubordinated debt rating from S&P of at least “A-”, (b) with respect to a Relevant Entity that is not a Financial Institution, a short-term unsecured and unsubordinated debt rating from S&P of at least “A-1” or, if the entity does not have a short-term unsecured rating from S&P, a long-term unsecured and unsubordinated debt rating from S&P of at least “A+”. IN WITNESS WHEREOF the parties have executed this document on the respective dates specified below with effect from the date specified on the first page of this document.
S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or Fitch Approved Ratings Threshold an Eligible Replacement, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of "BBB+".