Credit Rating. The Borrowers at all times use commercially reasonable efforts to cause to be maintained # a corporate rating for the Borrowers from S&P, # a corporate family rating for the Borrowers from Moody’s and # a rating for each of the Facilities from each of S&P and Moody’s.

Credit Rating. The Credit Rating of Crestwood Parent Guarantor shall be B or higher by S&P and ​ or higher by Moody’s.

NRSRO Rating. The Company will use commercially reasonable efforts to maintain a rating by a nationally recognized statistical rating organization (“NRSRO”) while any Subordinated Notes remain outstanding.

Rating Condition. The Administrative Agent shall have received evidence satisfactory to it that the Rating Condition has been satisfied.

Rating Confirmation. Upon written request of any ​(s), such ​ shall (at such ​’s expense (including reasonable legal expenses of the Master Servicer, up to ​) and with the reasonable cooperation of the Master Servicer), obtain a rating, in form satisfactory to the requesting ​, of the facility contemplated by this Agreement (the “External Rating”) from S&P, Moody’s, Fitch or another nationally-recognized rating agency reasonably acceptable to the requesting ​ within sixty (60) days from the date of such written request, at least equal to the implied rating of “A” established by the Administrative Agent as of the Renewal Date (the "Implied Rating"). Except as set forth in the next succeeding paragraph or if any change in Law or any change in regulatory guidelines by any Official Body requires an additional External Rating, once the External Rating has been obtained, no ​ may request another External Rating hereunder. If the External Rating is less than the Implied Rating, then the Master Servicer may effect a Ratings Cure (as defined below). The Master Servicer may effect only one such Ratings Cure prior to obtaining an External Rating that is equal to or better than the Implied Rating. A “Ratings Cure” means the satisfaction by the Master Servicer of each of the following conditions: # promptly following receipt of the External Rating, the Master Servicer notifies the Administrative Agent of its intention to effect a Ratings Cure, # the Master Servicer takes, or causes the SPV to take, any actions permitted under this Agreement and the First Tier Agreement that Master Servicer reasonably believes would improve the rating of the facility contemplated by this Agreement and # within thirty (30) days following receipt of the External Rating, obtains a new external rating of the facility contemplated by this Agreement from the rating agency that provided the External Rating (or, with the Administrative Agent's consent, from another nationally-recognized rating agency) and such new rating is at least equal to the Implied Rating.

“Minimum Counterparty Rating” shall mean # a long term credit rating from S&P of at least “A-”, and # a long term credit rating from Moody’s of at least “​”.

“Fitch Rating” means, as of the date of any determination thereof, the rating of Fitch currently in effect (other than a shelf rating) relating to the non‑credit enhanced long‑term senior unsecured debt of ​ or, to the extent such rating is not available, ​’s corporate credit rating provided by Fitch.

“Moody's Rating” means as of the date of any determination thereof, the rating of Moody’s currently in effect (other than a shelf rating) relating to the non‑credit enhanced long‑term senior unsecured debt of ​ or, to the extent such rating is not available, ​’s corporate credit rating provided by Moody’s.

"Investment Grade Rating" means, in relation to an entity, a rating for its long-term unsecured and non credit-enhanced debt obligations of BBB- or higher by Standard & Poor's Rating Services or Fitch Ratings Ltd or Baa3 or higher by Moody's Investors Service Limited or a comparable rating from an internationally recognised credit rating agency.

“S&P Rating” means, at any time, the rating issued by S&P, and then in effect with respect to the Company’s senior unsecured long-term debt securities without third-party credit enhancement.

“Moody’s Rating” means, at any time, the rating issued by Moody’s and then in effect with respect to ​’s senior unsecured long-term debt securities without third-party credit enhancement.

“Rating Agency” means, as of any date of determination, each nationally recognized statistical rating organization then rating any Loan or any related Credit Facility or Liquidity Facility provided to a Conduit Lender with respect to any Loan, in each case, at the request of the Borrower or any Secured Party.

tax exempt floating rate option tender bonds backed by letters of credit issued by a national or state bank whose long-term unsecured debt has a rating of AA or better by S&P, Aa2 or better by Moody’s or the equivalent rating by any other nationally recognized rating agency; and

The higher Rating shall determine the Applicable Rate unless the S&P and Moody’s Ratings are more than one level apart, in which case the Rating one level below the higher Rating shall be determinative. In the event that the Company’s senior unsecured non-credit-enhanced long-term debt is rated by only one of S&P and Moody’s, then that single Rating shall be determinative.

have a credit rating of either A-1 or higher by Standard & Poor's Rating Services or ​ or higher by Fitch Ratings Ltd or P-1 or higher by Moody's Investor Services Limited;

For purposes of the foregoing, a “private rating” shall refer to a rating obtained by ​, by ​ or by or on behalf of an obligor on a Reference Obligation that is not disseminated publicly; whereas a “shadow rating” shall refer to a credit estimate obtained upon application of ​ or a holder of a Reference Obligation. Any private rating or shadow rating shall be required to be refreshed annually. If ​ applies to Moody’s for a shadow rating or public rating of a Reference Obligation, ​ shall provide evidence to ​ of such application and shall notify ​ of the expected rating. ​ shall notify ​ of the shadow rating or public rating assigned by Moody’s to a Reference Obligation.

marketable general obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof maturing within one year from the date of acquisition and, at the time of acquisition, having a credit rating of at least “A” or the equivalent thereof by S&P or Moody’s, or carrying an equivalent rating by a nationally recognized Rating Agency, if both of the two named Rating Agencies cease publishing ratings of investments;

The applicable fee percentages and margins described in the foregoing table shall be determined in accordance with the foregoing table based on the Company’s Status as determined from its then-current Applicable Moody’s Rating and Applicable S&P Rating. Opening Status is anticipated to be Ratings Level II Status. The credit rating in effect on any date for the purposes of this Schedule is that in effect at the close of business on such date. If at any time the Company has no Applicable Moody’s Rating or no Applicable S&P Rating, Ratings Level V Status shall exist.

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto that is a national credit rating organization.