Epstein Secrets

mined in accordance with the following, in the following order of priority. (a) with respect to a Moody's Senior Secured Loan: (i) if the Loan's Obligor has a Corporate Family Rating (as defined by Moody's) from Moody's, such Corporate Family Rating; or (ii) if the preceding clause does not apply,

with respect to a Moody's Senior Secured Loan: (i) if the Loan's Obligor has a Corporate Family Rating (as defined by Moody's) from Moody's, such Corporate Family Rating; or (ii) if the preceding clause does not apply, the Moody's Obligation Rating of such Loan; (b) with respect to a Moody's Non Senior Secured Lo

(d) if the preceding clauses do not apply, but the Obligor has a senior secured obligation with a Moody's Assigned Rating, then: (i) if such Moody's Assigned Rating is at least "Caa3" (and, if rated "Caa3,

orate Family Rating (as defined by Moody's) from Moody's. the Moody's Equivalent Senior Unsecured Rating shall be one rating subcategory below such Corporate Family Rating; (f) if the preceding clauses do not apply but the Obligor has a senior unsecured obligation (other than a bank loan) with a public rating from S&

ot apply. the Moody's Obligation Rating of such Collateral Obligation; (b) with respect to a Moody's Non Senior Secured Loan or Bond: (i) if the Obligor has a senior unsecured obligation with an Assigned Moody's Rating, such rating; and (ii) if the preceding clause does not apply, the Moody's Equiv

ody's Non Senior Secured Loan, a Bond or a DIP Loan): (i) if the Collateral Obligation's Obligor has a Corporate Family Rating from Moody's. such Corporate Family Rating; and (ii) if the preceding clause does not apply. the Moody's Obligation Rating of such Collateral Obligation; (b) with respect to a Moody's Non