Senior Unsecured Debt Rating definition

Senior Unsecured Debt Rating means the Borrower's senior unsecured debt rating as announced by Standard & Poor's Ratings Group, a Division of XxXxxx- Xxxx, Inc. or Xxxxx'x Investors Service, Inc.

Senior Unsecured Debt Rating means, for any date, the senior unsecured debt rating, as rated by Standard & Poor's or Xxxxx'x Investor Service as of such date.

Senior Unsecured Debt Rating has the meaning assigned to such term in Schedule 1.

Examples of Senior Unsecured Debt Rating in a sentence

• To the extent that the Company does not maintain a Senior Unsecured Debt Rating, pricing shall be set at Level 8.

• In the event the Borrower fails to deliver such financial statements and certificate within the time required by Section 7.2 hereof, the Applicable Margin until the delivery of such financial statements and certificate shall be the Applicable Margin set forth above applicable to the Borrower's Senior Unsecured Debt Rating; provided that if such rating is not available, the Applicable Margin shall be the highest Applicable Margin set forth above.

• All notices and other communications hereunder shall be sufficiently given for all purposes hereunder if in writing and delivered personally, sent by documented overnight delivery service or, to the extent receipt is confirmed, telecopy, telefax or other electronic transmission service to the appropriate address or numbers as set forth below.

• Borrower will pay to Administrative Agent for the account of Secondary Revolving Credit Lenders a Secondary Revolving Credit Facility Fee (in basis points) from and including the Closing Date to the Secondary Revolving Credit Termination Date, computed based on the Senior Unsecured Debt Rating and Borrower's Ratio; provided that, in the event that Borrower's Senior Unsecured Debt Rating by Moodx'x Xxxestor Service, Inc.

• White March 21, 1998 Page 4 * The Company's Senior Unsecured Debt Rating shall be determined as provided in the Credit Agreement.

More Definitions of Senior Unsecured Debt Rating

Senior Unsecured Debt Rating means a rating of the Borrower's long-term senior unsecured debt either (a) publicly announced or published by a Rating Agency as in effect from time to time or (b) pursuant to a private letter rating or similar privately issued rating by a Rating Agency as in effect from time to time.

Senior Unsecured Debt Rating means, at any time of determination, the rating currently assigned by Moody's or S&P, as applicable, to the outstanding publicly-held long-term senior unsecured debt securities of Company, or, if no such debt securities are outstanding at such time, the rating, if any, that would be so assigned by Moody's or S&P, as applicable, if any such debt securities were outstanding at such time, as evidenced by a formal rating letter issued to Company by such rating agency and delivered by Company (in the form of an original or a copy thereof) to Administrative Agent.

Senior Unsecured Debt Rating has the meaning provided in the definition of the term “Applicable Percentage”.

Senior Unsecured Debt Rating in Section 1.1 of the Credit Agreement are hereby amended and restated to read in their entirety as follows:

Senior Unsecured Debt Rating means the Borrower's Senior Unsecured Debt Rating provided by (1) the higher of either Standard & Poor's Corporation or Xxxxx'x Investors Service provided that (a) no more than one ratings differential shall apply, or, (b) if two or more ratings differential, the rating shall be that rating that is one rating greater than the lowest rating, or, (2) if not available from one of the above corporations, then that rating that is two levels better than the rating given by such corporations on the Senior Subordinated Debt.

Senior Unsecured Debt Rating means, as of any date, the highest rating that has been most recently announced by either S&P or Xxxxx'x, as the case may be, for any class of long-term senior unsecured debt issued by any of the Obligors; PROVIDED, HOWEVER, that if the rating by S&P shall be below BBB- or if the rating by Xxxxx'x shall be below Baa3, the lower rating shall apply unless the ratings established by S&P and Xxxxx'x shall be more than one Level apart in the definition of "Applicable Margin", in which case the applicable Level shall be one Level higher than the lower of such Levels. For purposes of the foregoing, (a) if no Senior Unsecured Debt Rating shall be available from at least one of S&P and Xxxxx'x, the Applicable Margin will be set by reference to the Leverage Ratio so long as the Agent shall have received the financial statements and Compliance Certificate to be delivered by the Company pursuant to Section 6.1 (or, in the case of the Applicable Margin established on the Closing Date, subsection 4.1(g)), and if the Agent shall not have received such financial statements and Compliance Certificate, in accordance with Level 6 under the definition of "Applicable Margin"; (b) if only one of S&P and Xxxxx'x shall have in effect a Senior Unsecured Debt Rating, the Applicable Margin shall be determined by reference to the available rating; (c) if any rating established by S&P or Xxxxx'x shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (d) if S&P or Xxxxx'x shall change the basis on which ratings are established, each reference to the Senior Unsecured Debt Rating announced by S&P or Xxxxx'x, as the case may be, shall refer to the then equivalent rating by S&P or Xxxxx'x, as the case may be.

Senior Unsecured Debt Rating means, as of any date, the highest rating, actual or implicit, that has been most recently announced by any of S&P or Xxxxx'x, as the case may be, for the Company or any class of long-term senior unsecured debt issued by the Company or FHC. For purposes of the foregoing, (a) if any rating established by S&P or Xxxxx'x shall be changed, such change shall be effective as of the date on which such change is first announced publicly by the rating agency making such change; and (b) if S&P or Xxxxx'x shall change the basis on which ratings are established, each reference to the Senior Unsecured Debt Rating announced by S&P or Xxxxx'x, as the case may be, shall refer to the then equivalent rating by S&P or Xxxxx'x, as the case may be.