Rating Downgrade Sample Clauses

Rating Downgrade. [Insert ratings downgrade procedure in respect of each of the applicable ratings agencies]

Rating Downgrade. Any downgrade in the rating of the Borrower (determined by any credit rating agency accredited by the RBI) by one or more notches from that subsisting as on the date of this Agreement.

Rating Downgrade. (a) If, at any time, a Downgrade occurs and the downgrade constitutes a Minor Downgrade, Party A shall, within 30 days (or such greater period as agreed to in writing by the relevant Designated Rating Agency), comply with Section 17(c). (b) If, at any time, a Downgrade occurs and the downgrade constitutes a Major Downgrade, Party A shall immediately (or such greater period as agreed by the relevant Designated Rating Agency) comply with Section 17(c)(i). Party A must continue to comply with Section 17(c)(i) until such time (no later than 30 days of the Major Downgrade occurring (or such greater period as agreed by the relevant Designated Rating Agency)) that it complies with Section 17(c)(ii), (iii) or (iv). (c) Where Party A is required to comply with this Section 17(c) it must, subject to paragraph (b), at its cost do one of the following: (i) transfer Eligible Credit Support to Party B in accordance with the Credit Support Annex attached to this Agreement (including by the deposit of US$ to the credit of a Swap Collateral Account); (ii) procure a novation of its rights and obligations under each Transaction to a Replacement Currency Swap Provider; (iii) procure another person to become co-obligor in respect of the obligations of Party A under each Transaction. Such co-obligor may be either: (A) a person with the Required Rating domiciled in the same legal jurisdiction as Party A or Party B; or (B) a person otherwise acceptable to each Designated Rating Agency; or (iv) enter, or procure entry, into an Acceptable Arrangement. (d) Where Party B has not established a Swap Collateral Account and Party A is required to deposit monies into a Swap Collateral Account, the Manager must direct Party B to, and Party B must, establish, as soon as practicable, and maintain, in the name of Party B an account with an Approved Bank, which account shall be, for the purposes of this Section 17, the "SWAP COLLATERAL ACCOUNT". (e) Party B, at the direction of the Manager, may only dispose of any Eligible Credit Support acquired or transferred to it under Section 17(c)(i) or make withdrawals from the Swap Collateral Account: (i) in accordance with the terms of the Credit Support Annex attached to this Agreement; or (ii) otherwise if directed to do so by the Manager and in such latter case only for the purpose of: (i) withdrawing any amount which has been incorrectly deposited into the Swap Collateral Account; (ii) paying any bank accounts debit tax or other equivalent Taxes p...

Rating Downgrade. (a) If BSFP fails to satisfy the Required Ratings (a “Ratings Event”), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) deliver collateral sufficient to restore the rating of the Certificates and any Notes immediately prior to such Ratings Event, and an executed ISDA Credit Support Annex; (iii) obtain a guaranty of an entity that satisfies the Required Rating to guaranty BSFP’s obligations under this Transaction; or (iv) take any other action sufficient to restore the rating of the Certificates and any Notes immediately prior to such Ratings Event; provided that the failure by BSFP to take any action specified in (i)-(iv) above on or prior to the 30th calendar day after such Ratings Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. (b) If BSFP fails to satisfy the Replacement Ratings (a “Replacement Event”), then BSFP shall, at its own expense and subject to the Rating Agency Condition, either: (i) assign this Transaction to an entity that satisfies (or whose credit support provider satisfies) the Required Ratings; (ii) obtain a guaranty of an entity that satisfies the Required Ratings to guaranty BSFP’s obligations under this Transaction; or (iii) take any other action sufficient to restore the rating of the Certificates and any Notes immediately prior to such Ratings Event; provided that the failure by BSFP to take any action specified in (i)-(iii) above on or prior to the 10th Local Business Days after such Replacement Event shall constitute an Additional Termination Event under the ISDA Form Master Agreement with respect to which BSFP shall be the sole Affected Party and this Transaction shall be the sole Affected Transaction. As used herein,

Rating Downgrade. (i) Moody's: If, during the term of any Offshore Notes rated Aaa (Moody's) issued by Party B, the credit rating assigned to Party A's senior debt is lower than the relevant Prescribed Rating, and such downgrade would except for this clause adversely affect the rating of the Offshore Notes, then Party A must on request by the Global Trust Manager lodge sufficient cash or other collateral (if any) as may be necessary to maintain the credit rating of those Offshore Notes at the rating that was applicable to those Offshore Notes immediately prior to the downgrade. This collateral must be deposited into a bank account ("Collateral Account") with an Eligible Bank. The Collateral Account must be in the name of Party B and must bear interest at a commercial rate payable monthly. Interest earned on the money credited to the Collateral Account must be paid directly to Party A. If Party A is an eligible entity as at the date of lodgement, the collateral must be lodged with Party A (in an account in the name of Party B) and remain with Party A for so long as it continues to be an eligible entity. Any collateral lodged under this paragraph is subject to the terms of the Credit Support Annex to this Agreement.

Rating Downgrade a statement as to the occurrence of any Rating Downgrade or Rating Upgrade since the date of the last certificate delivered pursuant to this Section 7.2 and information (including detailed calculations) indicating whether the holder of a Note is at the time entitled to request that the Company obtain a rating for the Notes pursuant to Section 9.8;

Rating Downgrade. The occurrence of a Trigger Event referred to in paragraph 9 (Rating Downgrade) of Part 1 (Trigger Events) of this Schedule 3 will be remedied if the Rating given by at least one Rating Agency is no longer below Investment Grade provided that, where more than one Rating Agency has provided a Rating which is below Investment Grade, the Trigger Event referred to in paragraph 9 (Rating Downgrade) of Part 1 (Trigger Events) of this Schedule 3 shall only be remedied where each such Rating is no longer below Investment Grade or, where a Rating has been withdrawn, the Trigger Event will be remedied if a Rating is obtained which is Investment Grade.

Rating Downgrade. In case a security is downgraded so that it breaches a limit or is rated below A3/ A-, the Manager is not necessarily required to dispose of all or part of the investment immediately. - The aggregate amount of securities downgraded to BBB is not allowed to exceed 5%. Sub-investment grade securities must be sold. These rating limits are measured daily.

Rating Downgrade it shall promptly notify each of the Dealers of any downgrading or withdrawal of, or the placing on “creditwatch” (or other similar publication of formal review by the relevant rating organisation) of, the rating of any of the Issuer’s debt securities by any statistical rating organisation generally recognised by banks, securities houses and investors in the euro-markets, as soon as the Issuer learns of such downgrading or proposal. Any notice, statement, circular or announcement published on the website of any of: 8.5.1 the Issuer; 8.5.2 the HKSE; or 8.5.3 the relevant rating organisation,