Common use of Covenant Suspension Clause in Contracts

Covenant Suspension. During any period of time that the Notes have a Xxxxx’x rating of Baa3 or higher or an S&P rating of BBB- or higher (each, an “Investment Grade Rating”) and no Default has occurred and is then continuing, the Issuer and the Restricted Subsidiaries will not be subject to the following sections of this Indenture: • Section 4.10; • Section 4.11; • Section 4.12; • Section 4.13;

Appears in 2 contracts

Samples: Indenture (Basic Energy Services Inc), Indenture (Basic Energy Services Inc)

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Covenant Suspension. During any period of time that the Notes have a Xxxxx’x rating of Baa3 or higher or an S&P rating of BBB- or higher (each, an “Investment Grade Rating”) and no Default has occurred and is then continuing, the Issuer and the Restricted Subsidiaries will not be subject to the following sections of this Indenture: • Section 4.10; • Section 4.11; • Section 4.12; • Section 4.13; • Section 4.15; • Section 4.16; • Section 4.18; • Section 4.20;

Appears in 1 contract

Samples: Indenture (Basic Energy Services Inc)

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Covenant Suspension. During any period of time that the Notes have a Xxxxx’x Mxxxx’x rating of Baa3 or higher or an S&P rating of BBB- or higher (each, an “Investment Grade Rating”) and no Default has occurred and is then continuing, the Issuer and the Restricted Subsidiaries will not be subject to the following sections of this IndentureSections: • Section 4.10; • Section 4.11; • Section 4.12; • Section 4.13; • Section 4.15; • Section 4.16; • Section 4.18; • Section 4.20;

Appears in 1 contract

Samples: Indenture (Basic Energy Services Inc)

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