Epstein Secrets

(ii) with respect to any Structured Finance Obligation that has not been rated by S&P pursuant to clause (i) above but has been publicly rated by Moody's or Fitch. then the S&P Rating of such Structured Finance Obligation may be determined using the applicable method below: (A) with respect to any S

llateral Obligation: provided, fiirther. that Collateral Obligations constituting no more than 5% of the Collateral Principal Amount may be given an S&P Rating based on this subelause (C) (after giving effect to the addition of the relevant Collateral Obligation. if applicable): provided that if (i) the r

(B) if no other security or obligation of the Obligor or its guarantor is rated by S&P or Moody's, then the Collateral Manager may apply to S&P for a S&P credit rating estimate, which will be its S&P Rating provided that pending such application

ligor or its guarantor is rated by S&P or Moody's, then the Collateral Manager may apply to S&P for a S&P credit rating estimate, which will be its S&P Rating provided that pending such application the S&P Rating of such Collateral Obligation will be deemed to be "CCC+" if the Collateral Manager reasonabl

(ii) with respect to any Structured Finance Obligation that has not been rated by S&P pursuant to clause (i) above but has been publicly rated by Moody's or Fitch. then the S&P Rating of such Structured Finance Obligation may be determined using the applicable method below: (A) with respect to any S

llateral Obligation: provided, fiirther. that Collateral Obligations constituting no more than 5% of the Collateral Principal Amount may be given an S&P Rating based on this subelause (C) (after giving effect to the addition of the relevant Collateral Obligation. if applicable): provided that if (i) the r

hen the S&P Rating may be determined using any one of the methods below: (A) if an obligation of the Obligor or its guarantor is publicly rated by Moody's, then the S&P Rating will be determined in accordance with the methodologies for establishing the Moody's Rating set forth above, except that the S

ligor or its guarantor is rated by S&P or Moody's, then the Collateral Manager may apply to S&P for a S&P credit rating estimate, which will be its S&P Rating provided that pending such application the S&P Rating of such Collateral Obligation will be deemed to be "CCC+" if the Collateral Manager reasonably

f such Collateral Obligation may be determined using any one of the methods below: (A) if an obligation of the obligor has a published rating from Moody's then the S&P Rating will be determined in accordance with the methodologies for establishing the Moody's Rating, except that the S&P Rating of such

by S&P or Moody's. then the Issuer or the Investment Manager on behalf of the Issuer, shall apply to S&P for a rating estimate, which shall be its S&P Rating; provided that, pending receipt. its S&P Rating will be determined as set forth in clause (vii) below; (v) if it is a Structured Finance Obligatio