Rating Agency Condition

Rating Agency Condition. Shall mean, with respect to any action, that each Rating Agency shall have notified the Transferor or the Servicer or the Trustee in writing that such action shall not result in a reduction or withdrawal of such Rating Agency's rating of any outstanding Series or Class with respect to which it is a Rating Agency. The Rating Agency Condition shall be inapplicable at any time that no such ... Series or Class is outstanding. View More

Rating Agency Condition. Means, with respect to any Outstanding Series or Class of Notes and any action, unless otherwise defined for such Series or Class of Notes in the related Indenture Supplement (i) 10 days' prior written notice (or if 10 days' advance notice is impracticable, as much advance notice as is practicable), delivered to each applicable Rating Agency as provided in Section 10.4 and (ii) with respect to any Outstanding Series or Class of Notes for which S&P is a Rating Agency, S&P shall have notified the... Issuer in writing that such action will not result in a reduction or withdrawal of the rating, if any, of such Series or Class of Notes with respect to which such entity is a Rating Agency. View More