Common use of Covenant Suspension Clause in Contracts

Covenant Suspension. (a) During any period that the 6 5/8% Notes have a rating equal to or higher than BBB- by S&P and Baa3 by Mxxxx’x (each, an “Investment Grade Rating”) and no Default has occurred and is continuing, the Company and the Restricted Subsidiaries will not be subject to Sections 1010(a) through (d), 1011, 1012, 1014, 1015, 1017 and 801(a)(3) (collectively, the “Suspended Covenants”). (b) In the event that the Company and the Restricted Subsidiaries are not subject to the Suspended Covenants for any period of time as a result of the operation of clause (a) of this Section 1018, and subsequently one or both of S&P and Mxxxx’x downgrades the rating assigned to the 6 5/8% Notes below their respective Investment Grade Rating, then the Company and the Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants (subject to subsequent suspension of the 6 5/8% Notes again receive Investment Grade Ratings), and, with respect to Restricted Payments proposed to be made after the time of such downgrade, the permissibility of such proposed Restricted Payments will be calculated in accordance with Section 1011 as though Section 1011 had been in effect since the Issue Date, it being understood, however, that no actions taken by the Company or any Restricted Subsidiary during the suspension period shall constitute a Default or an Event of Default under the Suspended Covenants.

Covenant Suspension. (a) During any period that the 6 5/867/8% Notes have a rating equal to or higher than BBB- by S&P and Baa3 by Mxxxx’x Xxxxx’x (each, an “Investment Grade Rating”) and no Default has occurred and is continuing, the Company and the Restricted Subsidiaries will not be subject to Sections 1010(a) through (d), 1011, 1012, 1014, 1015, 1017 and 801(a)(3) (collectively, the “Suspended Covenants”). (b) In the event that the Company and the Restricted Subsidiaries are not subject to the Suspended Covenants for any period of time as a result of the operation of clause (a) of this Section 1018, and subsequently one or both of S&P and Mxxxx’x Xxxxx’x downgrades the rating assigned to the 6 5/867/8% Notes below their respective Investment Grade Rating, then the Company and the Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants (subject to subsequent suspension of the 6 5/867/8% Notes again receive Investment Grade Ratings), and, with respect to Restricted Payments proposed to be made after the time of such downgrade, the permissibility of such proposed Restricted Payments will be calculated in accordance with Section 1011 as though Section 1011 had been in effect since the Issue Date, it being understood, however, that no actions taken by the Company or any Restricted Subsidiary during the suspension period shall constitute a Default or an Event of Default under the Suspended Covenants.

Covenant Suspension. (a) During any period that the 6 5/8% 6⅝% Notes have a rating equal to or higher than BBB- by S&P and Baa3 by Mxxxx’x (each, an “Investment Grade Rating”) and no Default has occurred and is continuing, the Company and the Restricted Subsidiaries will not be subject to Sections 1010(a) through (d), 1011, 1012, 1014, 1015, 1017 and 801(a)(3) (collectively, the “Suspended Covenants”). (b) In the event that the Company and the Restricted Subsidiaries are not subject to the Suspended Covenants for any period of time as a result of the operation of clause (a) of this Section 1018, and subsequently one or both of S&P and Mxxxx’x downgrades the rating assigned to the 6 5/8% 6⅝% Notes below their respective Investment Grade Rating, then the Company and the Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants (subject to subsequent suspension of the 6 5/8% 6⅝% Notes again receive Investment Grade Ratings), and, with respect to Restricted Payments proposed to be made after the time of such downgrade, the permissibility of such proposed Restricted Payments will be calculated in accordance with Section 1011 as though Section 1011 had been in effect since the Issue Date, it being understood, however, that no actions taken by the Company or any Restricted Subsidiary during the suspension period shall constitute a Default or an Event of Default under the Suspended Covenants.

Covenant Suspension. (a) During any period that the 6 5/88 3/8% Notes have a rating equal to or higher than BBB- by S&P and Baa3 by Mxxxx’x Xxxxx'x (each, an “"Investment Grade Rating”") and no Default has occurred and is continuing, the Company and the Restricted Subsidiaries will not be subject to 52 Sections 1010(a) through (d), 1011, 1012, 1014, 1015, 1017 and 801(a)(3) (collectively, the “"Suspended Covenants”"). (b) In the event that the Company and the Restricted Subsidiaries are not subject to the Suspended Covenants for any period of time as a result of the operation of clause (a) of this Section 1018, and subsequently one or both of S&P and Mxxxx’x Xxxxx'x downgrades the rating assigned to the 6 5/88 3/8% Notes below their respective Investment Grade Rating, then the Company and the Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants (subject to subsequent suspension of the 6 5/88 3/8% Notes again receive Investment Grade Ratings), and, with respect to Restricted Payments proposed to be made after the time of such downgrade, the permissibility of such proposed Restricted Payments will be calculated in accordance with Section 1011 as though Section 1011 had been in effect since the Issue Date, it being understood, however, that no actions taken by the Company or any Restricted Subsidiary during the suspension period shall constitute a Default or an Event of Default under the Suspended Covenants.

Covenant Suspension. (a) During any period that the 6 5/871/8% Notes have a rating equal to or higher than BBB- by S&P and Baa3 by Mxxxx’x (each, an “Investment Grade Rating”) and no Default has occurred and is continuing, the Company and the Restricted Subsidiaries will not be subject to Sections 1010(a) through (d), 1011, 1012, 1014, 1015, 1017 and 801(a)(3) (collectively, the “Suspended Covenants”). (b) In the event that the Company and the Restricted Subsidiaries are not subject to the Suspended Covenants for any period of time as a result of the operation of clause (a) of this Section 1018, and subsequently one or both of S&P and Mxxxx’x downgrades the rating assigned to the 6 5/871/8% Notes below their respective Investment Grade Rating, then the Company and the Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants (subject to subsequent suspension of the 6 5/871/8% Notes again receive Investment Grade Ratings), and, with respect to Restricted Payments proposed to be made after the time of such downgrade, the permissibility of such proposed Restricted Payments will be calculated in accordance with Section 1011 as though Section 1011 had been in effect since the Issue Date, it being understood, however, that no actions taken by the Company or any Restricted Subsidiary during the suspension period shall constitute a Default or an Event of Default under the Suspended Covenants.