Epstein Secrets

y, the Moody's Default Probability, Rating shall 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 rating

(a) with 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 Loa

dy's Rating; or (ii) if the preceding clause does not apply, the Moody's Equivalent Senior Unsecured Rating. Notwithstanding the foregoing. if the Moody's rating or ratings used to determine the Moody's Obligation Rating are on review for possible downgrade or upgrade by Moody's. such rating or ratin

ed Loan, a Bond or a DIP (i) if it has an Assigned Moody's Rating. such Assigned Moody's Rating; (ii) if the preceding clause does not apply, its Corporate Family Rating: or (iii) if the preceding clause does not apply. the rating that is one rating subcategory• above the Moody's Equivalent Senior Unsecured Rating

y, the Moody's Default Probability Rating shall 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 ratin

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

ull amount of principal and interest promised). then the Moody's Equivalent Senior Unsecured Rating shall be: (i) one rating subcategory below the Moody's equivalent of such S&P rating if it is - 88B—" or higher, or two rating subcategories below the Moody's equivalent of such S&P rating if it is"BB

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&

y, the Moody's Default Probability, Rating shall 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 rating

(a) with 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 Loa

pect to a DIP Loan. the rating that is one rating subcategory below the Moody's Obligation Rating thereof. Notwithstanding the foregoing (x) if the Moody's rating or the S&P rating used to determine the Moody's Default Probability Rating is on review for possible downgrade or upgrade by Moody's or S&P

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

to the payment of principal or interest is then continuing, (iii) no interest has been deferred or capitalized under the terms thereof, (iv) if the Moody's rating (including an estimated or private rating, and subject to adjustment as provided in "Moody's Rating" (or the definitions referenced therei

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