Underwritten Certificates Ratings. It is agreed that as a further condition of the Underwriters' obligation to purchase the Underwritten Certificates, the ratings indicated above by the Rating Agencies on the Underwritten Certificates shall not have been rescinded and there shall not have occurred any downgrading, or public notification of a possible downgrading or public notice of a possible change, without indication of direction, in the ratings accorded the Underwritten Certificates.
Appears in 6 contracts
Sources: Underwriting Agreement (Saxon Asset Securities Trust 2002-2), Underwriting Agreement (Saxon Asset Securities Trust 2002-1), Underwriting Agreement (Saxon Asset Securities Co)
Underwritten Certificates Ratings. It is agreed that as a further condition of the Underwriters' β obligation to purchase the Underwritten Certificates, the ratings indicated above by the Rating Agencies on the Underwritten Certificates shall not have been rescinded and there shall not have occurred any downgrading, or public notification of a possible downgrading or public notice of a possible change, without indication of direction, in the ratings accorded the Underwritten Certificates.
Appears in 1 contract
Sources: Underwriting Agreement (Saxon Asset Securities Co Mort Ln as Back Cert Se 2002 3)