Epstein Secrets

oody's Obligation Rating and its Moody's Default Probability Rating (for purposes of clarification, if the Moody's Obligation Rating is higher than the Moody's Default Probability Rating. the rating subcategories difference will be positive and if it is lower, negative): Number of Moody's Ratings Subcategories Difference Between th

ed rating), such recovery rate; (ii) if the preceding clause does not apply to the Loan or Bond and the Loan is a Moody's Senior Secured Loan or a Moody's Non Senior Secured Loan, the rate determined pursuant to the table below based on the number of rating subcategories difference between the Loan's or Bond's Moody's Obligat

all be determined based on the applicable Collateral Obligation. Notwithstanding the foregoing, if the Moody's rating or ratings used to determine the Moody's Default Probability Rating are on watch for downgrade or upgrade by Moody's, such rating or ratings will be adjusted down one subcategory (if on watch for downgrade) or up on

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 Loan or a Bond , (i) if the Obligor has a senior unsecured obligation with a Moody's Assigned Rating, such rating; or (ii) if the preceding clause does

oody's Obligation Rating and its Moody's Default Probability Rating (for purposes of clarification, if the Moody's Obligation Rating is higher than the Moody's Default Probability Rating. the rating subcategories difference will be positive and if it is lower, negative): Number of Moody's Ratings Subcategories Difference Between th

ed rating), such recovery rate; (ii) if the preceding clause does not apply to the Loan or Bond and the Loan is a Moody's Senior Secured Loan or a Moody's Non Senior Secured Loan, the rate determined pursuant to the table below based on the number of rating subcategories difference between the Loan's or Bond's Moody's Obligat

oody's Obligation Rating and its Moody's Default Probability Rating (for purposes of clarification, if the Moody's Obligation Rating is higher than the Moody's Default Probability Rating. the rating subcategories difference will be positive and if it is lower, negative): Number of Moody's Ratings Subcategories Difference Between th

recovery rate: (b) if the preceding clause does not apply to the Collateral Obligation and the Collateral Obligation is a Senior Secured Loan or a Moody's Non Senior Secured Loan. the rate determined pursuant to the table below based on the number of rating subcategories difference between the Collateral Obligation's Moody's

justed down one subcategory• (if on review for possible downgrade) or up one subcategory (if on review for possible upgrade) and (y) for purposes of the Moody's Default Probability Rating used in determining the Moody's Rating Factor of a Collateral Obligation. if such Moody's rating or S&P rating used to determine the Moody's Defaul

ermination, the rating determined in accordance with the following, in the following ogler of priority: (a) any Collateral Obligation (other than a Moody'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