Substitute Rating Agency definition

Substitute Rating Agency means a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Exchange Act selected by the Company (as certified by a resolution of the Board of Directors of the Company).

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Substitute Rating Agency means a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) under the Securities Exchange Act of 1934, as amended, selected by the Company (as certified by a resolution of the Company’s board of directors) as a replacement agency for Moody’s or S&P, or both, as the case may be.

Substitute Rating Agency means a “nationally recognized statistical rating organization” within the meaning of the Exchange Act engaged by the Parent Guarantor to provide a rating of the Securities in the event that any of S&P, Moody’s or Fitch, or any other Substitute Rating Agency, has ceased to provide a rating of the Securities for any reason other than as a result of any action or inaction by the Parent Guarantor, and as a result thereof there are no longer two Rating Agencies providing ratings of the Securities.

Examples of Substitute Rating Agency in a sentence

Each adjustment required by any decrease or increase in a Rating set forth above, whether occasioned by the action of Moody’s, S&P or Fitch (or, in any case, a Substitute Rating Agency therefor), shall be made independent of any and all other adjustments.
No adjustments in the interest rate payable on the Notes shall be made solely as a result of any of Moody’s, S&P or Fitch (or, in any case, a Substitute Rating Agency therefor) ceasing to provide a Rating of the Notes.
In addition, the interest rate payable on the Notes will permanently cease to be subject to any adjustment described above (notwithstanding any subsequent decrease in the Ratings by any or all rating agencies) if the Notes become rated Baa1, BBB+ and BBB+ (or the equivalent of any such Rating, in the case of a Substitute Rating Agency) or higher by any two of ▇▇▇▇▇’▇, S&P and Fitch (or, in any case, a Substitute Rating Agency therefor).
If ▇▇▇▇▇’▇, S&P or Fitch (or, in any case, a Substitute Rating Agency therefor) changes its Rating of the Notes more than once during any particular interest period, the last change by such agency during such interest period will control for purposes of any interest rate increase or decrease with respect to the Notes described above relating to such rating agency’s action.
If all of Moody’s, S&P and Fitch (or, in any case, a Substitute Rating Agency therefor) cease to provide a Rating, and no Substitute Rating Agency has provided a Rating, the interest rate payable on the Notes will increase to, or remain at, as the case may be, 2.000% above the interest rate set forth in Section 103.

More Definitions of Substitute Rating Agency

Substitute Rating Agency means a “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Company (as certified by the Company’s Chief Executive Officer or Chief Financial Officer) as a replacement agency for Moody’s, S&P or Fitch, or all of them, as the case may be.

Substitute Rating Agency means a Rating Agency selected by UBS Warburg LLC or its affiliates and successors, after consultation with the Trust, to act as the substitute Rating Agency to determine the credit ratings of the APS.

Substitute Rating Agency means a “nationally recognized statistical rating organization” as that term is defined in Section 3(a)(62) of the Exchange Act, selected by the Company (as certified by a resolution of the Board of Directors delivered to the Trustee) as a replacement agency for Moody’s or S&P Global Ratings, or both of them, as the case may be.

Substitute Rating Agency means a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Company as a replacement agency for Moody’s or S&P, or both of them, as the case may be.

Substitute Rating Agency means any rating agency of international standing substituted for the Rating Agency by the Issuer from time to time with the prior written approval of the Trustee, such approval not to be unreasonably withheld or delayed;

Substitute Rating Agency means, in the Company’s discretion at any time and from time to time, Fitch, Inc. or any other “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act selected by the Company (as certified to the Trustee by a resolution of the Board of Directors) as a replacement agency for Moody’s or S&P, or either of them, as the case may be.

Substitute Rating Agency means “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act selected by us (as certified by a resolution of the Board of Directors of the Guarantor) as a replacement for Moody’s, S&P or Fitch, or some or all of them, as the case may be, in accordance with the definition of “Rating Agencies.”