Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy constitutes a "BBB" risk by S&P and a "Baa2" risk by ▇▇▇▇▇'▇ and that the Notes, when issued, will be rated "AAA" by S&P and "Aaa" by ▇▇▇▇▇'▇ (or A-1+ by S&P and P-1 by ▇▇▇▇▇'▇ in the case of the Class A-1 Notes);
Appears in 4 contracts
Sources: Insurance and Indemnity Agreement (Ikon Receivables LLC), Insurance and Indemnity Agreement (Ikon Receivables LLC), Insurance and Indemnity Agreement (Ikon Receivables LLC)
Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy constitutes a "BBB" risk by S&P and a "Baa2" risk by ▇▇▇▇▇'▇ and that the Notes, when issued, will be rated "AAA" by S&P and "Aaa" by ▇▇▇▇▇'▇ (or A-1+ by S&P and P-1 by ▇▇▇▇▇'▇ in the case of the Class A-1 Notes);
Appears in 2 contracts
Sources: Insurance and Indemnity Agreement (Ikon Receivables Funding LLC), Insurance and Indemnity Agreement (Ikon Receivables LLC)
Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy Policies constitutes a "BBB" risk by S&P and a "Baa2" risk by ▇▇▇▇▇'▇ and that the Notes, when issued, will be rated "AAA" by S&P and "Aaa" by ▇▇▇▇▇'▇ (or A-1+ by S&P and P-1 by ▇▇▇▇▇'▇ in the case of the Class A-1 Notes);
Appears in 1 contract
Sources: Insurance and Indemnity Agreement (Ikon Receivables Funding LLC)
Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy constitutes at least a "“BBB" ” risk by S&P and at least a "“Baa2" ” risk by M▇▇▇▇▇'’▇ and that the Notes, when issued, will be rated "“AAA" ” by S&P and "“Aaa" ” by M▇▇▇▇’▇'▇ (or A-1+ by S&P and P-1 by ▇▇▇▇▇'▇ in the case of the Class A-1 Notes), respectively;
Appears in 1 contract
Sources: Insurance and Indemnity Agreement (Indymac Abs Inc)
Issuance of Ratings. The Insurer shall have received confirmation that the risk secured by the Note Policy constitutes a "at least “BBB" risk ” by S&P and a "“Baa2" risk ” by ▇▇▇▇▇'’▇ and that the Notes, when issued, will be rated "“AAA" ” by S&P and "“Aaa" ” by ▇▇▇▇▇'▇ (or A-1+ by S&P and P-1 by ’▇▇▇▇▇'▇ in the case of the Class A-1 Notes);.
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