Minimum Acceptable Credit Rating definition

Minimum Acceptable Credit Rating means a Credit Rating equal to or better than: (a) “BBB-” by S&P; (b) “BBB-” by Xxxxx’x; and (c) “Baa3” by Fitch.
Sample 1
Minimum Acceptable Credit Rating means a Credit Rating equal to or better than: (a) "BBB-" by S&P; and (b) " Baa3" by Moody's.
Sample 1Sample 2
Minimum Acceptable Credit Rating means a rating of A or higher from Fitch and S&P, and a rating of A-2 or higher from Moody’s. “Minimum Installed Capacity” means the installed capacity in MWp for each Project specified in Schedule F.
Sample 1

Examples of Minimum Acceptable Credit Rating in a sentence

  • Notwithstanding the foregoing, Shipper may, upon notice to Worsham-Steed but without the need for Worsham- Steed’s consent, assign all or part of its right, interest and obligations under this Agreement to any wholly-owned affiliate(s) of Shipper that has a credit rating equal to or higher than Shipper’s but in no event lower than the Minimum Acceptable Credit Rating (or that has been provided a guarantee in Worsham-Steed’s favor from an affiliated entity with such a rating).

  • Any suspension of Service pursuant to this Section 2.4(d) shall continue until Worsham-Steed terminates the Service Agreement or until Shipper achieves the Minimum Acceptable Credit Rating or has provided an alternative form of security as required pursuant to these General Terms and Conditions.

  • If at any time Worsham-Steed reasonably determines that Shipper does not meet the Minimum Acceptable Credit Rating set forth in Section 2.4(b)(1) of these General Terms and Conditions and Shipper has not already provided an alternative form of security as provided for in Section 2.4(c) of these General Terms and Conditions, Worsham-Steed may notify Shipper in writing that it must provide one of the alternative form of security specified in Section 2.4(c) of these General Terms and Conditions.

  • Potential Shipper/Shipper may provide a guaranty of all of Shipper’s obligations under the Service Agreement granted to Worsham-Steed by the Potential Shipper/Shipper’s parent, affiliate or third party with a credit rating of at least the Minimum Acceptable Credit Rating, which guarantee shall be in form and substance acceptable to Worsham-Steed.

  • In the event Worsham-Steed determines that Potential Shipper/Shipper achieves the Minimum Acceptable Credit Rating, Worsham-Steed shall terminate any alternative forms of security that Potential Shipper/Shipper may have been required to provide to Worsham-Steed.

  • Worsham-Steed may simultaneously serve Shipper a notice of termination of the Service Agreement, such termination to be effective five (5) days from the date of such notice unless prior to such date Worsham-Steed has received the necessary assurance that Shipper has achieved the Minimum Acceptable Credit Rating or alternative form of security as required hereunder.

  • At any time during such suspension, Shipper may request that Worsham-Steed determine that Shipper has achieved the Minimum Acceptable Credit Rating as specified in Section 2.4(b)(1) of these General Terms and Conditions.

  • Upon Potential Shipper/Shipper’s request, which may be made at any time, Worsham-Steed shall determine whether Potential Shipper/Shipper has achieved the Minimum Acceptable Credit Rating as described in Section 2.4(b)(1).

  • Security shall no longer be required pursuant to this Section 2.4(c) when Potential Shipper/Shipper achieves the Minimum Acceptable Credit Rating set forth in Section 2.4(b)(1) or when the Potential Shipper/Shipper is no longer receiving Services from Worsham- Steed, and has not guaranteed and is not otherwise liable for the performance of any assignee of Shipper, and has paid in full for all Services received from Worsham-Steed in the past.

  • Hill-Lake may simultaneously serve Shipper a notice of termination of the Service Agreement, such termination to be effective five (5) days from the date of such notice unless prior to such date Hill-Lake has received the necessary assurance that Shipper has achieved the Minimum Acceptable Credit Rating or alternative form of security as required hereunder.


More Definitions of Minimum Acceptable Credit Rating

Minimum Acceptable Credit Rating means a Credit Rating equal to or better than (a) “BBB-” by S&P; (b) “BBB-” by Moody’s; and (c) “Baa3” by Fitch.
Sample 1
Minimum Acceptable Credit Rating means a Credit Rating equal to or better than (a) “BBB-” by S&P; (b) “BBB-” by Moody’s; and (c) “Baa3” by Fitch Moody’s means Xxxxx’x Investor Services, Inc. MW means megawatt. MWh means megawatt-hour.
Sample 1

Related to Minimum Acceptable Credit Rating

  • Acceptable Credit Rating means a minimum long term credit rating of either BBB from Standard & Poors or Baa2 from Xxxxx’x; Access Undertaking means:

  • Applicable Credit Rating For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody's. For any shxxx-xxxm deposit or security, or a rating of A-l+ in the case of S&P or P-1 in the case of Moody's.

  • Credit Rating means, with respect to any entity, the rating then assigned to such entity’s unsecured, senior long-term debt obligations (not supported by third party credit enhancements) or if such entity does not have a rating for its senior unsecured long-term debt, then the rating then assigned to such entity as an issuer rating by S&P, Moody’s or any other rating agency agreed by the Parties as set forth in the Cover Sheet.

  • Minimum Acceptable Price with respect to any Put Notice Date shall mean seventy-five percent (75%) of the lowest closing bid prices for the ten (10) Trading Day period immediately preceding such Put Notice Date.

  • Investment Grade Credit Rating means (a) with respect to Fitch, a credit rating of BBB- or higher, (b) with respect to Xxxxx’x, a credit rating of Baa3 or higher and (c) with respect to S&P, a credit rating of BBB- or higher.

  • Highest Credit Rating Available The highest rating category (disregarding any plus or minus or any numerical or other subcategory) of any Rating Agency. Holders: All of the Certificateholders.

  • Applicable Credit Support Percentage As defined in Section 4.02(e).

  • Applicable Commitment Percentage means, with respect to each Lender at any time, a fraction, the numerator of which shall be such Lender's Revolving Credit Commitment and the denominator of which shall be the Total Revolving Credit Commitment, which Applicable Commitment Percentage for each Lender as of the Closing Date is as set forth in Exhibit A; provided that the Applicable Commitment Percentage of each Lender shall be increased or decreased to reflect any assignments to or by such Lender effected in accordance with Section 11.1.

  • Original Applicable Credit Support Percentage With respect to each of the following Classes of Subordinated Certificates, the corresponding percentage described below, as of the Closing Date: Class B-1 % Class B-2 % Class B-3 % Class B-4 % Class B-5 % Class B-6 %

  • Required Deposit Rating A rating on short-term unsecured debt obligations of P-1 by Xxxxx’x Investors Service, Inc. and A-2 by S&P Global Ratings. Any requirement that short-term unsecured debt obligations have the “Required Deposit Rating” shall mean that such short-term unsecured debt obligations have the foregoing required ratings from each of such applicable rating agencies.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • 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+”.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Liquidity Rate has the meaning specified in Section 3.07(g).

  • Applicable Rating Level at any time shall be determined in accordance with the then-applicable S&P Rating or the then-applicable Xxxxx’x Rating as follows: S&P Rating/Xxxxx’x Rating Applicable Rating Level S&P Rating AA or higher or Xxxxx’x Rating Aa2 or higher 1 S&P Rating AA- or Xxxxx’x Rating Aa3 2 S&P Rating A+ or Xxxxx’x Rating A1 3 S&P Rating A or Xxxxx’x Rating A2 4 S&P Rating A- or below or Xxxxx’x Rating A3 or below or unrated 5 The Applicable Rating Level for any day shall be determined based upon the higher of the S&P Rating and the Xxxxx’x Rating in effect on such day. If the S&P Rating and the Xxxxx’x Rating are not the same (i.e., a “split rating”), the higher (better) of such ratings shall control, unless the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control.

  • Required Rating means, in the case of Moody's, the rating assigned to the Underlying Securities by Moody's as of the Closing Date, and, in the case of S&P, the rating assigned to the Underlying Securities by S&P as of the Closing Date.

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower's senior unsecured long-term debt securities without third-party credit enhancement.

  • Available Commitment means a Lender’s Commitment minus:

  • Available Credit means, at any time, (a) the then effective Revolving Credit Commitments minus (b) the aggregate Revolving Credit Outstandings at such time.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Applicable Commitment Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Total Commitment Amount means, at any particular time, the aggregate of the Individual Commitments of all of the Lenders at such time.

  • Minimum Rating means a minimum senior unsecured debt rating (or, if unavailable, corporate or issuer rating) as defined in Section 5.4(a).

  • Credit Rating Agency means a nationally recognized credit rating agency that evaluates the financial condition of issuers of debt instruments and then assigns a rating that reflects its assessment of the issuer’s ability to make debt payments.