Rating Requirement Clause Samples
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Rating Requirement. The Securities shall have credit ratings and outlooks from ▇▇▇▇▇’▇ Investors Service Inc. (“Moody’s”), Standard & Poor’s (“S&P”) and Fitch, Inc. (“Fitch”) at the Closing Time that are the same as or better than the respective ratings and outlooks set forth in the Pricing Term Sheet filed with the Commission on the date hereof, and the Company shall have delivered to the Representatives a letter, dated the Closing Time, from each such rating agency, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings.
Rating Requirement. At the date of this Agreement and at the Closing Time, the Securities shall be rated at least “Baa1” by Moody’s Investor’s Service Inc. (“Moody’s”), “BBB” by Standard & Poor’s (“S&P”) and “BBB+” by Fitch, Inc. (“Fitch”), and the Company shall have delivered to the Representatives a letter, dated the Closing Time, from each such rating agency, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings.
Rating Requirement. At the date of this Agreement and at the Closing Time, the Securities shall be rated at least Baa3 by Moody's Investor's Service Inc., BBB- by Standard & Poor's Corporation and BBB by Duff & ▇▇▇▇▇▇, and the Company shall have delivered to the Representatives a letter, dated the Closing Time, from each such rating agency, or other evidence satisfactory to the Representatives, confirming that the Securities have such ratings.
Rating Requirement. At such Date of Delivery, the Securities shall have been rated at least "ba1" by ▇▇▇▇▇'▇, at least "BB+" by S&P and at least "BBB-" by D&P.
Rating Requirement. At the date of this Agreement and at the Closing Time, the Securities shall be rated at least "ba1" by ▇▇▇▇▇'▇ Investor's Service Inc. ("▇▇▇▇▇'▇"), "BB+" by Standard & Poor's Corporation ("S&P") and "BBB-" by Duff & ▇▇▇▇▇▇ ("D&P"), and the Company shall have delivered to the Representative a letter, dated the Closing Time, from each such rating agency, or other evidence satisfactory to the Representative, confirming that the Securities have such ratings.
Rating Requirement. The Company shall use commercially reasonable efforts to obtain a rating for the Bridge Facility from each of ▇▇▇▇▇’▇ and S&P. Staple Financing2 In connection with any Sale Transaction and at the option of the Company, and provided that the Winning Transaction contemplates an equity investment of no less than 40% of the Sale Enterprise Value (unless otherwise agreed to by the Required Consenting Term Lenders), the Term Loan Lenders shall provide a staple financing facility according to the following terms (the “Staple Financing Facility” and the loans advanced pursuant thereto, the “Staple Financing Loans”): • Lenders: The Term Loan Lenders. • Principal Amount: No greater than $600 million. • Priority/Collateral: The Staple Financing Facility shall be secured by first priority liens on (i) all Collateral and (ii) all Unencumbered Assets of the Loan Parties. Certain non-Loan Parties acceptable to the Required Consenting Term Lenders (the “Additional Guarantors”) shall also provide additional guarantees for the benefit of the Staple Financing Facility. • Loan Parties: All Loan Parties and Guarantors, plus the Additional Guarantors • Interest: The Staple Financing Loans shall bear interest (such interest, the “Staple Interest”) at a rate equal to (a) if the Company achieves the Staple Rating Requirement, SOFR plus 500bps plus a credit spread adjustment of 0.26161%; or (b) if the Company fails to achieve the Staple Rating Requirement, SOFR plus 550bps plus a credit spread adjustment of 0.26161%. In the event that the Staple Interest is determined in accordance with clause (a) of the preceding sentence, 50–150 bps shall be payable in kind at the option of the Company and the balance shall be payable in cash; in the event that the Staple Interest is determined in accordance with clause (b) of the preceding sentence, 50–200 bps shall be payable in kind at the option of 2 Terms used but not defined in this section shall have the meanings set forth in that certain First Lien Collateral Agreement dated as of May 1, 2017, by and among Cyxtera DC Parent Holdings, Inc., Colorado Buyer Inc., the other guarantors from time to time party thereto, and Citibank, N.A., as collateral agent (“First Lien Collateral Agreement”).
Rating Requirement. The Company will be required to obtain a "shadow" rating on the Notes of at least B3/B-.
Rating Requirement. The Notes shall have been assigned an investment grade debt rating of BBB- or higher by DBRS Limited, and each Purchaser shall have received a copy of a letter from DBRS Limited confirming such rating.
Rating Requirement. At such Date of Delivery, the Securities shall have been rated at least “Baa3” by Moody’s, at least “BBB-” by S&P and at least “BBB-” by Fitch.
Rating Requirement. 19 (h) FOURTH AMENDMENT TO ACQUISITION CREDIT AGREEMENT.. . . 19 (i)