Common use of Changes in Covenants when Notes are Rated Investment Grade Clause in Contracts

Changes in Covenants when Notes are Rated Investment Grade. If on any date following the date hereof: (1) at least two of the following events occurs: (i) the Notes are rated Baa3 or better by Xxxxx’x Investors Service, (ii) the Notes are rated BBB- or better by Standard & Poor’s Rating Group, a division of McGraw Hill Financial, Inc., or (iii) the Notes are rated BBB- or better by Fitch Ratings, Inc., (or, if any such entity ceases to rate the Notes for reasons outside of the control of the Company, the equivalent investment grade credit rating from any other “nationally recognized statistical rating organization” registered under Section 15E of the Exchange Act selected by the Company as a replacement agency); and (i) no Default or Event of Default shall have occurred and be continuing, (ii) then, beginning on that date and continuing at all times thereafter regardless of any subsequent changes in the rating of the Notes, Sections 3.8, 4.9, 4.10, 4.12, 4.13, 4.14, 4.15 and 4.16 and clause (d) of Section 5.1 shall no longer be applicable as to the Notes and the Note Guarantees.

Changes in Covenants when Notes are Rated Investment Grade. If on any date following the date hereof: (1) at least two of the following events occurs: (i) the Notes are rated Baa3 or better by Xxxxx’x Investors Service, (ii) the Notes are rated BBB- or better by Standard & Poor’s Rating Group, a division of McGraw Hill Financial, Inc., or (iii) the Notes are rated BBB- or better by Fitch Ratings, Inc., (or, if any such entity ceases to rate the Notes for reasons outside of the control of the CompanyParent, the equivalent investment grade credit rating from any other “nationally recognized statistical rating organization” registered under Section 15E of the Exchange Act selected by the Company Parent as a replacement agency); and (i) no Default or Event of Default shall have occurred and be continuing, (ii) then, beginning on that date and continuing at all times thereafter regardless of any subsequent changes in the rating of the Notes, Sections 3.8, 4.9, 4.10, 4.12, 4.13, 4.14, 4.15 and 4.16 and clause (d) of Section 5.1 shall no longer be applicable as to the Notes and the Note Guarantees.

Changes in Covenants when Notes are Rated Investment Grade. If on any date following the date hereof: (1) at least two of the following events occurs: (i) the Notes are rated Baa3 or better by Xxxxx’x Investors Service, (ii) the Notes are rated BBB- or better by Standard & Poor’s Rating Group, a division of McGraw Hill Financial, Inc., or (iii) the Notes are rated BBB- or better by Fitch Ratings, Inc., (or, if any such entity ceases to rate the Notes for reasons outside of the control of the CompanyParent, the equivalent investment grade credit rating from any other “nationally recognized statistical rating organization” registered under Section 15E of the Exchange Act selected by the Company Parent as a replacement agency); and (i) no Default or Event of Default shall have occurred and be continuing, (ii) then, beginning on that date and continuing at all times thereafter regardless of any subsequent changes in the rating of the Notes, Sections 3.8, 4.9, 4.10, 4.12, 4.13, 4.14, 4.15 and 4.16 and clause (d) of Section 5.1 shall no longer be applicable as to the Notes and the Note GuaranteesNotes.