Split Ratings. In each case in which any provision of this Agreement refers to credit ratings by S&P and M▇▇▇▇’▇ (or by S&P or M▇▇▇▇’▇) and provides that such provision is subject to this Section 1.03, such provision shall be construed to mean that, in the event there is a split in the ratings by one or more ratings categories (e.g., some thing or some Person is rated BBB- by S&P and Ba3 by Moody’s), the higher rating shall be ignored.
Appears in 3 contracts
Sources: Credit Agreement (Credit Suisse Asset Management Income Fund, Inc.), Credit Agreement (Credit Suisse Asset Management Income Fund, Inc.), Credit Agreement (Credit Suisse Asset Management Income Fund, Inc.)
Split Ratings. In each case in which any provision of this Credit Agreement refers to credit ratings by S&P and M▇▇▇▇’▇ (or by S&P or M▇▇▇▇’▇) Moody’s and provides that such provision is subject to this Section 1.031.04, such provision shall be construed to mean that, in the event there is a split in the ratings (a) by one or more ratings categories rating category (e.g., some thing or some Person is rated BBB- CCC+ by S&P and Ba3 Caa2 by Moody’s), the higher rating shall be ignoredwill govern, or (b) by more than one rating category, the lower rating will govern.
Appears in 1 contract
Sources: Credit Agreement (Ares Dynamic Credit Allocation Fund, Inc.)
Split Ratings. In each case in which any provision of this Agreement refers to credit ratings by S&P and M▇▇▇▇’▇ Moody’s (or by S&P or M▇▇▇▇’▇Moody’s) and provides that such provision is subject to this Section 1.03, such provision shall be construed to mean that, in the event there is a split in the ratings by one or more ratings categories (e.g., some thing or some Person is rated BBB- by S&P and Ba3 by Moody’s), the higher rating shall be ignored.
Appears in 1 contract
Sources: Credit Agreement (Credit Suisse Asset Management Income Fund Inc)