Rating at the date of acquisition shall promptly be submitted to Moody's to obtain an estimate and pending such estimate shall be deemed to have a Moody's Rating of "Caal" (or, in the case of a Form-Approved Synthetic Security, will be assigned a Moody's Rating Factor based on the Moody's Rating Factor of the Refe

teral Manager has certified in writing to the Trustee that it believes such default is not due to credit-related causes); (b) such obligation has a Moody's Rating of "Ca" or "C" or is rated "CC", "D" or "SD" by S&P or S&P has withdrawn its rating after previously having assigned a rating of "CC", "D" or "SD", or (

Rating at the date of acquisition shall promptly be submitted to Moody's to obtain an estimate and pending such estimate shall be deemed to have a Moody's Rating of "Caal" (or, in the case of a Form-Approved Synthetic Security, will be assigned a Moody's Rating Factor based on the Moody's Rating Factor of the Refe

f each Collateral Obligation which (x) became a Defaulted Obligation since the date of determination of the last Monthly Report and (y) which has a Moody's Rating of "Caal" or below; (vii) the Aggregate Principal Balance of all Defaulted Obligations and Current Pay Obligations then outstanding, and the Market Val

ateral Manager has certified in writing to the Trustee that it believes such default is not due to credit-related causes); (b) such obligai n has a Moody's Rating of "Ca" or "C" or is rated "CC", "D" or "SD" by III or has withdrawn its rating after previously having assigned a rating of "CC", "D" or "SD", or (c)