Epstein Secrets

poses. 3. The obligation (a) has a Moody's Rating (including any estimated or confidential rating which is in respect of the full obligation of the Obligor and which is monitored) and (b) has an S&P Rating (including any confidential rating which is in respect of the full obligation of the Obligor and w

ny Equity Security or any other security or asset that is characterized as equity for U.S. federal income tax purposes. 3. The obligation (a) has a Moody's Rating (including any estimated or confidential rating which is in respect of the full obligation of the Obligor and which is monitored) and (b) has an S&P

thereof as of any dale of determination, is the rating determined in accordance with the following. in the following order of priority: (a) if the Obligor has a senior unsecured obligation with an Assigned Moody's Rating, such Assigned Moody's Rating; (b) if the preceding clause does not apply, the M

rmined in accordance with the following. in the following order of priority: (a) if the Obligor has a senior unsecured obligation with an Assigned Moody's Rating, such Assigned Moody's Rating; (b) if the preceding clause does not apply, the Moody's "Issuer Rating" for the Obligor, (c) if the preceding cla

ral Obligation or other obligation has an S&P Rating of "CC" or lower or "SD" or had such rating immediately before such rating was withdrawn or any Obligor on such Collateral Obligation or other obligation has a "probability of default" rating assigned by Moody's of "Ca", "C" or lower]; (e) [such Coll

payment of interest due thereon and has been so deferring the payment of interest due thereon (a) with respect to Collateral Obligations that have a Moody's Rating of at least "Baa3," for the shorter of two consecutive accrual periods or one year, and (b) with respect to Collateral Obligations that have a Mood

poses. 3. The obligation (a) has a Moody's Rating (including any estimated or confidential rating which is in respect of the full obligation of the Obligor and which is monitored) and (b) has an S&P Rating (including any confidential rating which is in respect of the full obligation of the Obligor and w

ny Equity Security or any other security or asset that is characterized as equity for U.S. federal income tax purposes. 3. The obligation (a) has a Moody's Rating (including any estimated or confidential rating which is in respect of the full obligation of the Obligor and which is monitored) and (b) has an S&P

bligation or Reference Obligation that is a Bond or Loan, the rating determined as follows: (i) if there is an issuer credit rating of the related Obligor or its guarantor by S&P. the most current issuer credit rating for such Obligor or its guarantor (provided that if such issuer credit rating is a c

gor 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&P Rating of such obligation will be (I) one subcategory' below the S&P equivalent of the rating assigned by Moody

thereof as of any dale of determination, is the rating determined in accordance with the following. in the following order of priority: (a) if the Obligor has a senior unsecured obligation with an Assigned Moody's Rating, such Assigned Moody's Rating; (b) if the preceding clause does not apply, the M

rmined in accordance with the following. in the following order of priority: (a) if the Obligor has a senior unsecured obligation with an Assigned Moody's Rating, such Assigned Moody's Rating; (b) if the preceding clause does not apply, the Moody's "Issuer Rating" for the Obligor, (c) if the preceding cla

(h) if the preceding clauses do not apply, but the Obligor has a senior secured obligation with a monitored public rating from S&P (without any postscripts, asterisks or other qualifying notations. that addr

(without any postscripts, asterisks or other qualifying notations. that addresses the full amount of principal and interest promised). the Assigned Moody's Rating shall be deemed to be: (i) one rating subcategoiy below the Moody's equivalent of such S&P rating if it is "BBB—" or higher, or (ii) two rating

poses. (c) The obligation (a) has a Moody's Rating (including any estimated or confidential rating which is in respect of the MI obligation of the Obligor and which is monitored) and (b) has an S&P Rating (including any confidential rating which is in respect of the full obligation of the Obligor and

Equity Security or any other security or asset that is characterized as equity for U.S. federal income tax purposes. (c) The obligation (a) has a Moody's Rating (including any estimated or confidential rating which is in respect of the MI obligation of the Obligor and which is monitored) and (b) has an S&P