Minimum Credit Rating Clause Samples
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Minimum Credit Rating. If (A) at any time the Credit Rating of an LC Bank is less than the Minimum Credit Rating or (B) if the Credit Rating of an LC Bank is equal to the Minimum Credit Rating for either ▇▇▇▇▇'▇ or S&P or, where such credit rating agencies no longer exist, credit ratings of equivalent prime credit rating agencies acceptable to the Lessor ("alternative rating agencies") but that LC Bank is placed on credit watch with negative implications by either ▇▇▇▇▇'▇ or S&P or, as the case may be, alternative rating agencies, or (C) if at any time an LC Bank is not or ceases to be rated by either ▇▇▇▇▇'▇ or S&P or, as the case may be, alternative rating agencies, PPC shall, within twenty (20) Banking Days of written notice from the Lessor either:
23.5.1 replace the existing LC Bank with a new bank or banks acceptable to the Lessor (in its absolute discretion) and procure that such bank executes a new letter of credit on substantially the same terms, mutatis mutandis, as the Initial Letter of Credit with such changes as the Lessor may agree; or
23.5.2 if the Lessor so agrees, constitute to the satisfaction of the Lessor such Additional Security and upon such terms in each case as the Lessor may in its absolute discretion agree in substitution for the applicable Letter of Credit. If the Lessor approves any bank for the purposes of that bank becoming a Replacement LC Bank or a Supplemental LC Bank, the Lessor shall notify PPC in writing of the Minimum Credit Rating (if any) applicable to that bank
Minimum Credit Rating. Agent shall have received satisfactory evidence that the Revolving Loans and Term Loan B are rated BA1/BB or better by ▇▇▇▇▇’▇ and S&P, respectively.
Minimum Credit Rating. At all times during the Term of this Agreement, Shipper shall either (a) maintain credit ratings that are no lower than any of the minimum credit ratings set forth below, or (b) maintain in place a guarantee in favor of CCPS, in form and substance acceptable to CCPS in its sole discretion, from a guarantor that maintains credit ratings that are no lower than any of the minimum credit ratings set forth below (the “Guarantee”): Agency Minimum Credit Rating ▇▇▇▇▇'▇ Investor Services Baa3 Standard & Poor's BBB- Dominion Bond Rating Service BBB(low)
Minimum Credit Rating. A Credit Support Provider must have a credit rating of:
(a) A-1 or higher for short term unsecured counterparty obligations of the entity, as rated by Standard & Poors (Australia) Pty Ltd;
(b) P-1 or higher for short term unsecured counterparty obligations of the entity, as rated by ▇▇▇▇▇’▇ Investor Services Pty Ltd; or
(c) some other acceptable credit rating determined by the Operator after consulting with Market Participants.
Minimum Credit Rating. If and only if a Credit has been Issued on behalf of an Applicant and such Credit remains outstanding, such Applicant must maintain a financial strength rating (as applicable) of at least A- from Standard & Poor’s and from A.M. Best Rating Services (the “Minimum Credit Rating”).
Minimum Credit Rating in the event that the credit rating of an L/C Issuer falls below the Minimum Credit Rating applicable to it, then the Borrower shall immediately (a) inform the Agent and (b) credit the Debt Service Reserve Account in accordance with clause 8.5;
Minimum Credit Rating. Agent shall have received satisfactory evidence that the corporate family rating and the corporate credit rating, as applicable, with respect to the Credit Parties is Ba3/BB- (or better) and has a stable outlook as reported by ▇▇▇▇▇’▇ and S&P, respectively.
Minimum Credit Rating evidence from either Standard and Poors or Fitch on or after the date falling 5 Business Days prior to the Drawdown Date that the Refund Guarantor still maintains the required Minimum Credit Rating;
Minimum Credit Rating. The securities will have a minimum rating by Moodys and S&P the same as or higher than RBS equivalent debt capital securities. Optional redemption date Tax change and regulatory change, subject to approval of regulator. Optional Issuance: Aurora is under no obligation to issue this instrument. *** Indicates omission of material, which has been separately filed, pursuant to a request for confidential treatment. The purpose of this Schedule is to document the allocation of the ID&JG business conducted by RBS NV in India to the State and the intention of the State for such business to be transferred to ABN AMRO Bank, subject to all regulatory approvals needed to establish a branch and obtain local licences in India and to complete all such other arrangements as are necessary (including technical separation) to acquire the ID&JG business in India from RBS NV. Such requirements for licenses and arrangements for ABN AMRO Bank to acquire the ID&JG Business in India from RBS NV being hereinafter referred to as the “Acquisition Requirements”. In this Schedule, “parties” means RBS, the State and the Company. Santander shall have no obligation arising out of or in respect of this Schedule. However, upon the reasonable request by RBS and the State, Santander shall take such action is required to give effect to this Schedule. Until ABN AMRO Bank has completed the Acquisition Requirements, the parties have agreed to put in place arrangements to enable the ID&JG business in India to continue to operate as part of RBS NV while protecting all commercial, legal and regulatory interests of ABN AMRO Bank in the ID&JG business in India, subject to the terms of this Schedule.
Minimum Credit Rating. A Credit Support Provider must have a credit rating of: