Common use of Covenant Suspension Clause in Contracts

Covenant Suspension. During any period of time (a "Suspension Period") that (i) the ratings assigned to the Notes issued under this Indenture by the Rating Agencies are Investment Grade Ratings and (ii) no Default or Event of Default has occurred and is continuing under this Indenture, the Company and its Restricted Subsidiaries shall not be subject to the terms of the covenants of this Indenture described under Sections 4.7, 4.8, 4.9, 4.10 and 4.11, and clause (2) of the first paragraph of Section 5.1 (collectively, the "Affected Covenants"). In the event that the Company and its Restricted Subsidiaries are not subject to the Affected Covenants with respect to the Notes for any period of time as a result of the preceding sentence and, subsequently, the applicable Rating Agency has in effect, withdrawn or downgraded the ratings assigned to the Notes below the required Investment Grade Ratings, then for the Notes the Company and its Restricted Subsidiaries will thereafter again be subject to the Affected Covenants and compliance with respect to Restricted Payments made after the time of such withdrawal or downgrade will be calculated in accordance with the provisions of Section 4.7 as if Section 4.7 had been in effect since the date of the execution of this Indenture. For purposes of the Section 4.10, upon the reversion of any Suspension Period, the unutilized Net Proceeds Offer amount will be reset to zero.

Covenant Suspension. During any period of time (a "Suspension Period") that (i) the ratings assigned to the Notes issued under this Indenture by the Rating Agencies are have achieved an Investment Grade Ratings and (ii) no Default or Event of Default has occurred and is continuing under this IndentureRating from both Rating Agencies, the Company and its Restricted Subsidiaries shall will not be subject to the terms of the covenants of this Indenture described under Sections 4.74.07, 4.84.08, 4.94.09, 4.10 4.10, 4.11 and 4.11, and clause (2) of the first paragraph of Section 5.1 4.15 hereof (collectively, the "Affected Suspended Covenants"). In the event that the Company and its the Restricted Subsidiaries are not subject to the Affected Suspended Covenants with respect to the Notes for any period of time as a result of the preceding sentence and, subsequently, one of the applicable Rating Agency has in effect, withdrawn Agencies withdraws its ratings or downgraded downgrades the ratings rating assigned to the Notes below so that the required Notes no longer have Investment Grade RatingsRatings from both Rating Agencies or a Default or Event of Default occurs and is continuing, then for the Notes the Company and its the Restricted Subsidiaries will from such time and thereafter again be subject to the Affected Suspended Covenants and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal withdrawal, Default or downgrade Event of Default will be calculated in accordance with the provisions terms of the covenant described in Section 4.7 4.07 hereof as if Section 4.7 though such covenant had been in effect since during the date entire period of time from the execution of this Indenture. For purposes of the Section 4.10, upon the reversion of any Suspension Period, the unutilized Net Proceeds Offer amount will be reset to zeroIssue Date.

Covenant Suspension. During If on any period of time (a "Suspension Period") that date following the Issue Date: (i) the ratings Notes are assigned to the Notes issued under this Indenture an Investment Grade Rating by the both Rating Agencies are Investment Grade Ratings and and (ii) no Default or Event of Default has occurred and is continuing under this Indenture, then, upon the Company and its Restricted Subsidiaries shall not be subject Company’s delivery of notice of such events to the terms of Trustee, the covenants of this Indenture described under Sections 4.73.3, 4.83.4, 4.93.6, 4.10 and 4.113.7, 3.8, 3.11, 3.12, and clause (2d) of Section 4.1 hereof will be suspended (collectively the first paragraph of Section 5.1 (collectively“Suspended Covenants”). During any period that the foregoing covenants have been suspended, the "Affected Covenants"). In the event that the Company and may not designate any of its Restricted Subsidiaries are not subject as Unrestricted Subsidiaries pursuant to the Affected Covenants with respect to definition of Unrestricted Subsidiary. Notwithstanding the Notes for any period of time as a result foregoing, if either of the preceding sentence and, subsequently, the applicable Rating Agency has in effect, withdrawn Agencies withdraws its ratings or downgraded downgrades the ratings assigned to the Notes below the required Investment Grade Ratings, then for Ratings so that the Notes do not have an Investment Grade Rating from both Rating Agencies, the Company and its Restricted Subsidiaries will thereafter again be subject to the Affected Suspended Covenants, subject to the terms, conditions and obligations set forth herein (each such date of reinstatement being the “Reinstatement Date”). Compliance with the Suspended Covenants and compliance with respect to Restricted Payments made after the time of such withdrawal or downgrade Reinstatement Date will be calculated in accordance with the provisions terms of Section 4.7 3.4 as if Section 4.7 though such covenants had been in effect during the period since the date of the execution of this Indenture. For purposes of the Section 4.10, upon the reversion of any Suspension Period, the unutilized Net Proceeds Offer amount will be reset to zeroIssue Date.

Covenant Suspension. During any period of time that: (a "Suspension Period") that (ia) the ratings assigned to the Notes issued under this Indenture by the Rating Agencies are have Investment Grade Ratings and from both Rating Agencies and (iib) no Default or Event of Default has occurred and is continuing under this the Indenture, the Company and its the Restricted Subsidiaries shall will not be subject to the terms following provisions of this Indenture: (i) Section 4.09, (ii) Section 4.10, (iii) Section 4.12, (iv) Section 4.13, (v) Section 4.14, (vi) Section 4.15, (vii) clause (x) of the covenants of this Indenture described under Sections 4.7, 4.8, 4.9, 4.10 third paragraph (and 4.11, and such clause (2x) as referred to in the first paragraph) of Section 4.16, and (viii) clause (e) of the first paragraph of Section 5.1 5.01 (collectively, the "Affected Suspended Covenants"). In the event that the Company and its the Restricted Subsidiaries are not subject to the Affected Suspended Covenants with respect to the Notes for any period of time as a result of the preceding sentence and, subsequently, one or both of the applicable Rating Agency has in effect, withdrawn Agencies withdraws its ratings or downgraded downgrades the ratings assigned to the Notes below the required Investment Grade RatingsRatings or a Default or Event of Default occurs and is continuing, then for the Notes the Company and its the Restricted Subsidiaries will thereafter again be subject to the Affected Suspended Covenants and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal withdrawal, downgrade, Default or downgrade Event of Default will be calculated in accordance with the provisions terms of Section 4.7 4.10 as if Section 4.7 though such covenant had been in effect since during the date entire period of time from the execution of this Indenture. For purposes of the Section 4.10, upon the reversion of any Suspension Period, the unutilized Net Proceeds Offer amount will be reset to zeroIssue Date.

Covenant Suspension. During If at any period of time (a "Suspension Period") that (ia) the ratings Notes are assigned to the Notes issued under this Indenture an Investment Grade Rating by the both Rating Agencies are Investment Grade Ratings and (iib) no Default or Event of Default has occurred and is continuing under this Indenturehereunder, the Company and its Restricted Subsidiaries shall not will no longer be subject to the terms provisions of the covenants of this Indenture described under Sections 4.73.3, 4.83.4, 4.93.6, 4.10 and 4.113.7, 3.8, 3.11, 3.12 and clause (2d) of Section 4.1 hereof (collectively the first paragraph of Section 5.1 (collectively“Suspended Covenants”); provided, the "Affected Covenants"). In the event however, that the Company and its Restricted Subsidiaries are not will remain subject to the Affected Covenants with respect to the Notes for any period of time as a result all of the preceding sentence and, subsequentlyother provisions of this Indenture. After the foregoing covenants have been terminated, the applicable Company may not designate any of its Subsidiaries as Unrestricted Subsidiaries. Thereafter, if either of the Rating Agency has in effect, withdrawn Agencies withdraws its ratings or downgraded downgrades the ratings assigned to the Notes below the required Investment Grade Ratings, then for Ratings so that the Notes do not have an Investment Grade Rating from both Rating Agencies, the Company and its Restricted Subsidiaries will thereafter again be subject to the Affected Suspended Covenants, subject to the terms, conditions and obligations set forth herein (each such date of reinstatement being the “Reinstatement Date”). Compliance with the Suspended Covenants and compliance with respect to Restricted Payments made after the time of such withdrawal or downgrade Reinstatement Date will be calculated in accordance with the provisions terms of Section 4.7 3.4 as if Section 4.7 though such covenants had been in effect during the period since the date of the execution of this Indenture. For purposes of the Section 4.10, upon the reversion of any Suspension Period, the unutilized Net Proceeds Offer amount will be reset to zeroIssue Date.

Covenant Suspension. (a) During any period of time (a "Suspension Period") that that: (i) the ratings assigned to the Notes issued under this Indenture by the Rating Agencies are have Investment Grade Ratings and from both Rating Agencies; and (ii) no Default or Event of Default has occurred and is continuing under this Indenturecontinuing, the Company Issuer and its the Restricted Subsidiaries shall will not be subject to the terms any of the covenants Section 4.09, Section 4.10, Section 4.12, Section 4.13 and Section 4.14, clauses (i) and (ii) of this Indenture described under Sections 4.7Section 4.15(a), 4.8, 4.9, 4.10 and 4.11, clause (x) of Section 4.15(c) and clause (2iv) of the first paragraph of Section 5.1 5.01(a) (collectively, the "Affected “Suspended Covenants"”). . (b) In the event that the Company Issuer and its the Restricted Subsidiaries are not subject to the Affected Suspended Covenants with respect to the Notes for any period of time as a result of the preceding sentence pursuant to Section 4.17(a) and, subsequently, one or both of the applicable Rating Agency has in effect, withdrawn Agencies withdraws its ratings or downgraded downgrades the ratings assigned to the Notes below the required Investment Grade RatingsRatings or a Default or Event of Default occurs and is continuing, then for the Notes Issuer and the Company and its Restricted Subsidiaries will thereafter again be subject to the Affected Suspended Covenants and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal withdrawal, downgrade, Default or downgrade Event of Default will be calculated in accordance with the provisions of Section 4.7 4.10 as if Section 4.7 though such covenant had been in effect since during the date entire period of time from the execution of this Indenture. For purposes of the Section 4.10, upon the reversion of any Suspension Period, the unutilized Net Proceeds Offer amount will be reset to zeroIssue Date.

Covenant Suspension. During any period of time that: (a "Suspension Period") that (ia) the ratings assigned to the Notes issued under this Indenture by the Rating Agencies are Securities have Investment Grade Ratings from both S&P and Xxxxx'x and (iib) no Default or Event of Default has occurred and is continuing under this the Indenture, the Company and its Restricted the Subsidiaries shall will not be subject to the terms following provisions of the covenants of this Indenture described under Indenture: Sections 4.74.03, 4.84.04, 4.94.06, 4.10 4.07 and 4.114.09, and clause (2x) of the third paragraph (and such clause (x) as referred to in the first paragraph paragraph) of Section 5.1 4.08 and clauses (5) and (6) of Sections 5.01(a) and 5.02 (a) (collectively, the "Affected Suspended Covenants"). In the event that the Company and its Restricted the Subsidiaries are not subject to the Affected Suspended Covenants with respect to the Notes for any period of time as a result of the preceding sentence and, subsequently, the applicable Rating Agency has in effect, withdrawn one or downgraded both of S&P and/or Xxxxx'x withdraws its ratings or downgrades the ratings assigned to the Notes Securities below the required Investment Grade RatingsRatings or a Default or Event of Default occurs and is continuing, then for the Notes the Company and its Restricted the Subsidiaries will thereafter again be subject to the Affected Suspended Covenants and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal withdrawal, downgrade, Default or downgrade Event of Default will be calculated in accordance with the provisions terms of Section 4.7 4.04 as if Section 4.7 though, for purposes of determining whether new Restricted Payments can be made after such time, such covenant had been in effect since during the date entire period of time from the execution of this Indenture. For purposes of the Section 4.10, upon the reversion of any Suspension Period, the unutilized Net Proceeds Offer amount will be reset to zeroIssue Date.