Notice to the Rating Agencies Clause Samples
The "Notice to the Rating Agencies" clause requires that certain parties provide timely notification to credit rating agencies about specific events or changes related to a transaction or agreement. Typically, this clause outlines which events—such as amendments, defaults, or significant operational changes—must be reported, and specifies the method and timing for delivering such notices. By ensuring that rating agencies are kept informed, this clause helps maintain accurate credit ratings and supports transparency, thereby protecting the interests of investors and other stakeholders.
Notice to the Rating Agencies. (a) Each of the Trustee and the Servicer shall be obligated to use its best reasonable efforts promptly to provide notice to the Rating Agencies with respect to each of the following of which a Responsible Officer of the Trustee or Servicer, as the case may be, has actual knowledge:
(i) any material change or amendment to this Agreement;
(ii) the occurrence of any Servicer Event of Termination that has not been cured or waived;
(iii) the resignation or termination of the Servicer or the Trustee;
(iv) the final payment to Holders of the Certificates of any Class;
(v) any change in the location of any Account; and
(vi) if the Trustee is acting as successor Servicer pursuant to Section 7.02 hereof, any event that would result in the inability of the Trustee to make Advances.
(b) In addition, the Trustee shall promptly make available to each Rating Agency copies of each Statement to Certificateholders described in Sections 4.03 and 3.19 hereof and the Servicer shall promptly furnish to each Rating Agency copies of the following:
(i) each annual statement as to compliance described in Section 3.20 hereof;
(ii) each annual independent public accountants' servicing report described in Section 3.21 hereof; and
(iii) each notice delivered pursuant to Section 7.01(a) hereof which relates to the fact that the Servicer has not made an Advance. Any such notice pursuant to this Section 11.08 shall be in writing and shall be deemed to have been duly given if personally delivered or mailed by first class mail, postage prepaid, or by express delivery service to (i) ▇▇▇▇▇'▇ Investors Service, Inc., ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ and (ii) Standard & Poor's, a division of The ▇▇▇▇▇▇-▇▇▇▇ Companies, Inc., ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: Residential Mortgage Surveillance Group.
Notice to the Rating Agencies. The Trustee shall provide to each Rating Agency a copy of each notice to the Series 2023-1 Noteholders delivered to the Trustee pursuant to this Series 2023-1 Supplement or any other Related Document. The Trustee shall provide notice to each Rating Agency of any consent by the Series 2023-1 Noteholders to the waiver of the occurrence of any Amortization Event with respect to the Series 2023-1 Notes. HVF III will provide each Rating Agency rating the Series 2023-1 Notes with a copy of any operative Manufacturer Program upon written request by such Rating Agency.
Notice to the Rating Agencies. The Administrator shall give notice to each Rating Agency of (i) any resignation or removal of the Owner Trustee pursuant to Section 6.10 of the Trust Agreement, (ii) any resignation or removal of the Grantor Trust Trustee pursuant to Section 6.10 of the Grantor Trust Agreement, (iii) any amendment to the Servicing Agreement pursuant to Section 7.1 of the Servicing Agreement, (iv) any Event of Default, Servicer Termination Event, each default on the part of the Servicer of its obligations under the Servicing Agreement, each default on the part of the Depositor of its obligations under the Receivables Transfer Agreement and each default on the part of the Seller of its obligations under the Receivables Purchase Agreement of which it has been provided notice pursuant to Section 3.19 of the Indenture, (v) any supplemental indenture pursuant to Section 9.1 or 9.2 of the Indenture (vi) any redemption of the Notes pursuant to Section 10.1 of the Indenture; (vii) any amendment to the Collateral Custodian Agreement pursuant to Section 4.1 of the Collateral Custodian Agreement, (viii) any amendment to the Backup Servicing Agreement pursuant to Section 19 of the Backup Servicing Agreement, (ix) any merger or consolidation of the Grantor Trust Trustee pursuant to Section 6.11 of the Grantor Trust Agreement; which notice shall be given in the case of each of clauses (i) through (ix) promptly upon the Administrator being notified thereof by the Owner Trustee, the Grantor Trust Trustee, the Indenture Trustee or the Servicer, as applicable. If ▇▇▇▇▇▇▇ is no longer the Administrator, the successor administrator shall provide any required Rating Agency notices under this Section 2(b) to the Depositor, who promptly shall provide such notices to the Rating Agencies.
(i) Upon dissolution of the Issuing Entity, the Administrator shall wind up the business and affairs of the Issuing Entity in accordance with Section 7.1 of the Trust Agreement. Upon dissolution of the Grantor Trust, the Administrator shall wind up the business and affairs of the Grantor Trust in accordance with Section 7.1 of the Grantor Trust Agreement.
(ii) Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not take, any action that the Issuing Entity or the Grantor Trust directs the Administrator not to take or which would result in a violation or breach of the Issuing Entity’s covenants, agreements or obligations under any of the Transaction Doc...
Notice to the Rating Agencies. The Trustee shall provide to each Funding Agent and each Rating Agency a copy of each notice to the Series 2013-B Noteholders, Opinion of Counsel and Officer’s Certificate delivered to the Trustee pursuant to this Series 2013-B Supplement or any other Group II Related Document. Each such Opinion of Counsel to be delivered to each Funding Agent shall be addressed to each Funding Agent, shall be from counsel reasonably acceptable to each Funding Agent and shall be in form and substance reasonably acceptable to each Funding Agent. The Trustee shall provide notice to each Rating Agency of any consent by the Series 2013-B Noteholders to the waiver of the occurrence of any Amortization Event with respect to the Series 2013-B Notes. All such notices, opinions, certificates or other items to be delivered to the Funding Agents shall be forwarded, simultaneously, to the address of each Funding Agent set forth on its related signature page hereto. HVF II will provide each Rating Agency rating the Series 2013-B Notes with a copy of any operative Group II Manufacturer Program upon written request by such Rating Agency.
Notice to the Rating Agencies. (a) The Trustee shall be obligated to use its best reasonable efforts promptly to provide notice to the Rating Agencies and any NIMS Insurer with respect to each of the following of which a Responsible Officer of the Trustee has actual knowledge:
(i) any material change or amendment to this Agreement;
(ii) the occurrence of any Event of Default that has not been cured or waived;
(iii) the resignation or termination of the Master Servicer, the Securities Administrator or the Trustee;
(iv) the final payment to Holders of the Certificates of any Class; and
(v) any change in the location of any Account.
(b) If the Trustee is acting as a successor Master Servicer pursuant to Section 7.02 hereof, the Trustee shall notify the Rating Agencies of any event that would result in the inability of the Trustee to make Advances as successor Master Servicer:
(c) The Master Servicer shall promptly furnish to each Rating Agency copies of the following, unless such documents were made available on the Securities Administrator’s website:
(i) each Distribution Date Statement described in Section 5.04 hereof;
(ii) each annual statement as to compliance described in Section 3.17 hereof;
(iii) each annual assessment of compliance and attestation report described in Section 3.16 hereof; and
(iv) each notice delivered pursuant to Section 5.05(b) hereof which relates to the fact that the Master Servicer has not made an Advance.
Notice to the Rating Agencies. The Trustee shall be obligated to use its best reasonable efforts promptly to provide notice to the Rating Agencies with respect to each of the following of which a Responsible Officer of the Trustee has actual knowledge:
Notice to the Rating Agencies. The Trust Administrator and the Master Servicer shall each be obligated to use its best efforts promptly to provide notice, at the expense of the Master Servicer, to the Rating Agencies with respect to each of the following of which a Responsible Officer of the Trust Administrator or Master Servicer, as the case may be, has actual knowledge:
(i) Any material change or amendment to this Agreement;
(ii) The occurrence of any Event of Default that has not been cured or waived;
(iii) The resignation or termination of the Master Servicer, the Trust Administrator or the Trustee;
(iv) The final payment to Holders of the Certificates of any Class; and
(v) Any change in the location of any Account.
Notice to the Rating Agencies. The Trustee shall provide to each Funding Agent and each Rating Agency a copy of each notice to the Series 2009-1 Noteholders, Opinion of Counsel and Officer’s Certificate delivered to the Trustee pursuant to this Series Supplement or any other Related Document (other than any Related Document relating solely to any Segregated Series of Notes). Each such Opinion of Counsel to be delivered to each Funding Agent shall be addressed to each Funding Agent, shall be from counsel reasonably acceptable to each Funding Agent and shall be in form and substance reasonably acceptable to each Funding Agent. The Trustee shall provide notice to each Rating Agency of any consent by the Series 2009-1 Noteholders to the waiver of the occurrence of any Limited Liquidation Event of Default. All such notices, opinions, certificates or other items to be delivered to the Funding Agents shall be forwarded, simultaneously, to the address of each Funding Agent set forth in the Series 2009-1 Note Purchase Agreement. In the event that the Annualized Financing Cost, calculated with respect to the amounts payable in any Series 2009-1 Interest Period, exceeds 10%, HVF shall provide Moody’s with notice of such event.
Notice to the Rating Agencies. The Trustee shall provide to each Rating Agency a copy of each notice to the Series 2018-1 Noteholders, Opinion of Counsel and Officer’s Certificate delivered to the Trustee pursuant to this Series 2018-1 Supplement or any other Group I Related Document. The Trustee shall provide notice to each Rating Agency of any consent by the Series 2018-1 Noteholders to the waiver of the occurrence of any Amortization Event with respect to the Series 2018-1 Notes. HVF II will provide each Rating Agency rating the Series 2018-1 Notes with a copy of any operative Group I Manufacturer Program upon written request by such Rating Agency.
Notice to the Rating Agencies. Each of the Trustee and the Servicer shall be obligated to use its best reasonable efforts promptly to provide notice to the Rating Agencies with respect to each of the following of which a Responsible Officer of the Trustee or the Servicer, as the case may be, has actual knowledge:
(i) any material change or amendment to this Agreement;
(ii) the occurrence of any Servicer Event of Termination that has not been cured or waived;
(iii) the resignation or termination of the Servicer or the Trustee;
(iv) the final payment to Holders of the Certificates of any Class;
(v) any change in the location of any Account; and
(vi) if the Trustee is acting as successor servicer pursuant to Section 7.02 hereof, any event that would result in the inability of the Trustee to make Advances. In addition, the Servicer shall promptly furnish to each Rating Agency copies of the following:
(A) each annual statement as to compliance described in Section 3.19 hereof;
(B) each annual independent public accountants' servicing report described in Section 3.20 hereof; and
(C) each notice delivered pursuant to Section 7.01(a) hereof which relates to the fact that the Servicer has not made an Advance.