Applicable Rating Agency definition

Applicable Rating Agency means any Rating Agency that (i)(a) published a rating for the Company on the date of initial issuance of the Series 2017A Notes and (b) publishes a rating for the Company at such time as a Rating Agency Event occurs, or (ii) any successor to a Rating Agency described in the preceding clause (i).

Applicable Rating Agency means any Rating Agency that (i)(a) published a rating for the Company on the Original Issue Date and (b) publishes a rating for the Company at such time as a Rating Agency Event occurs, or (ii) any successor to a Rating Agency described in the preceding clause (i).

Applicable Rating Agency means a Rating Agency that assigned a Rating as of March 22, 2020.

Examples of Applicable Rating Agency in a sentence

• No adjustment in the Note Interest Rate shall be made solely as a result of an Applicable Rating Agency ceasing to provide a rating.

• If an Applicable Rating Agency (or a Substitute Rating Agency therefor) changes its rating of a series of the Notes more than once prior to any particular interest payment date, the last change by such agency prior to such interest payment date shall control for purposes of any interest rate increase or decrease with respect to such Notes described above relating to such Applicable Rating Agency’s action.

• For so long as no Applicable Rating Agency (or a Substitute Rating Agency therefor) provides a rating of a series of Notes, the interest rate on the Notes of such series shall increase to, or remain at, as the case may be, 2.00% above the interest rate payable on such Notes on the date of their initial issuance.

• For so long as only one Applicable Rating Agency provides a rating of a series of Notes, any subsequent increase or decrease in the interest rate of such series of Notes necessitated by a reduction or increase in the rating by the Applicable Rating Agency providing the rating shall be twice the percentage set forth in the applicable table above.

• Each adjustment required by any downgrade or upgrade in a rating set forth above, whether occasioned by the action of an Applicable Rating Agency (or a Substitute Rating Agency therefor), shall be made independent of any and all other adjustments.

More Definitions of Applicable Rating Agency

Applicable Rating Agency means (i) A.M. Best Company, Inc. and/or (ii) any rating agency agreed from time-to-time by mutual written consent of the Company and the Retrocessionaire.

Applicable Rating Agency means (a) in the case of the Class A Pass Through Trust, Fitch, Xxxxx’x and Standard & Poor’s and (b) in the case of the Class B Pass Through Trust and the Class C Pass Through Trust, Xxxxx’x and Standard & Poor’s.

Applicable Rating Agency means one of the following Rating Agencies at any given time: (i) in the case that there is only one Rating Agency rating the Notes, such Rating Agency, (ii) in the case that there are two Rating Agencies rating the Notes, such Rating Agency providing the lower rating, or (iii) in the case that there are three or more Rating Agencies rating the Notes, such Rating Agency providing the second lowest rating. The initial Rating Agency shall be Egan Jones.

Applicable Rating Agency means any Rating Agency that (i) (a) published a rating for the Series L Preference Share Issuer on the date of original issuance of the Trust Preference Securities and (b) publishes a rating for the Series L Preference Share Issuer at such time as a Rating Agency Event occurs, or (ii) any successor to a Rating Agency described in the preceding clause (i).

Applicable Rating Agency means, with respect to any Liquidity Reserve Letter of Credit, (i) Fitch, for so long as Fitch is a Rating Agency with respect to any outstanding Notes and (ii) any Rating Agency then rating the Series of Variable Funding Notes with respect to which such Liquidity Reserve Letter of Credit was issued.

Applicable Rating Agency means the Rating Agency that has assigned the Senior Notes a Credit Rating.

Applicable Rating Agency means, with respect to any Liquidity Reserve Letter of Credit, (i) KBRA, for so long as KBRA is a Rating Agency with respect to any Outstanding Notes and (ii) any Rating Agency then rating the Series of Variable Funding Notes with respect to which such Liquidity Reserve Letter of Credit was issued.