rating; or (ii) if the preceding clause dots not apply. the Moody's Equivalent Senior Unsecured Rating; (c) with respect to a Synthetic Security, the Moody's Obligation Rating thereof; (d) with respect to a Collateral Obligation that is a DIP Loan, one rating subcategory below the Moody's Assigned Rating thereof: and (e

fference between the Collateral Obligation's Moody'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

al 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 Senior Secured Loan or Bond: (i) if the Obligor has a senior unsecured obligati

rating; or (ii) if the preceding clause dots not apply. the Moody's Equivalent Senior Unsecured Rating; (c) with respect to a Synthetic Security, the Moody's Obligation Rating thereof; (d) with respect to a Collateral Obligation that is a DIP Loan, one rating subcategory below the Moody's Assigned Rating thereof: and (e

se 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 ratings will be adjusted down one subcategory• (if on review for possibl