Common use of Covenant Termination Clause in Contracts

Covenant Termination. If at any time (a) the rating assigned to the Notes by S&P and Xxxxx’x is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) of this sentence as of the date of such certificate, the Company and its Restricted Subsidiaries will no longer be subject to the provisions of Section 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, Section 4.18, Section 4.20, and Section 5.01(a)(iv). However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture.

Appears in 9 contracts

Samples: Supplemental Indenture (Genesis Energy Lp), Indenture (Genesis Energy Lp), Supplemental Indenture (Genesis Energy Lp)

AutoNDA by SimpleDocs

Covenant Termination. If at any time (a) the rating Notes are assigned to the Notes by S&P and Xxxxx’x is an Investment Grade RatingRating from both Rating Agencies, (b) no Default or Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying as to the matters specified in clauses (a) and (b) of this sentence as of the date of such certificatecertificate (the “Termination Date”), the Company TLLP and its Restricted Subsidiaries will no longer be subject to the provisions of Section 3.09, Section Sections 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, Section 4.18, Section 4.20, 4.16 and Section 5.01(a)(iv). However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions 5.01(a)(4) of this Indenture. No Subsidiary shall be designated as an Unrestricted Subsidiary after the Termination Date.

Appears in 5 contracts

Samples: Indenture (Tesoro Logistics Northwest Pipeline LLC), Indenture (Tesoro Logistics Lp), Indenture (Tesoro Logistics Lp)

Covenant Termination. If at any time (a) the rating assigned to the Notes by both S&P and Xxxxx’x is an Investment Grade Rating, Rating and (b) no Event of Default has occurred and is continuing under this Indenture and (c) excluding, for the Issuers have delivered avoidance of doubt, any Default under one or more of the provisions listed below, provided that such Default did not exist immediately prior to the transaction or series of related transactions resulting in the applicable change in ratings), then upon delivery by the Company to the Trustee of an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) of this sentence as of the date of such certificateforegoing effect, the Company and its Restricted Subsidiaries will no longer be subject to the following provisions of Section 3.09, Section this Indenture: Sections 4.07, Section 4.08, Section 4.09, 4.10 or 4.11 or clause (d) of Section 4.10, Section 4.11, Section 4.17, Section 4.18, Section 4.20, and Section 5.01(a)(iv)5.01. However, the The Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture, including, without limitation, Sections 4.03, 4.12, 4.13, 4.17 and 5.01 other than clause (d) thereof).

Appears in 3 contracts

Samples: Sixth Supplemental Indenture (Whiting Petroleum Corp), Third Supplemental Indenture (Whiting Petroleum Corp), Fourth Supplemental Indenture (Whiting Petroleum Corp)

Covenant Termination. If at any time (a) the rating assigned to the Notes by both S&P and Xxxxx’x is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company Parent and its Restricted Subsidiaries will no longer be subject to the provisions of Section 3.09, Section 4.07, Section 4.08, Section Sections 4.09, 5.07, 5.08, 5.09, 5.10, 5.11, 5.17, clauses (1)(a) and (3) of Section 4.10, Section 4.11, Section 4.17, Section 4.18, Section 4.205.18, and clause (d) of Section 5.01(a)(iv)6.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture.

Appears in 2 contracts

Samples: Indenture (Summit Midstream Partners, LP), Supplemental Indenture (Summit Midstream Partners, LP)

Covenant Termination. If Notwithstanding any provision of this Indenture or of the Notes to the contrary, if at any time (a) the rating assigned to the Notes by S&P and Xxxxx’x both of the Ratings Agencies is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company and its Restricted Subsidiaries will no longer be subject to Sections 4.07, 4.08, 4.09, 4.11, 4.13, 4.18 and clause (4) of Section 5.01 of this Indenture and no Default or Event of Default shall result from any failure to comply with any of the provisions of Section 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, Section 4.18, Section 4.20, and Section 5.01(a)(iv). However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenturesuch Sections.

Appears in 2 contracts

Samples: Indenture (Exterran Partners, L.P.), Indenture (Exterran Partners, L.P.)

Covenant Termination. If at any time (a) the rating assigned to the Notes by S&P and Xxxxx’x is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) of this sentence as of the date of such certificate, the Company and its Restricted Subsidiaries will no longer be subject to the provisions of Section Sections 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, 4.18 and 4.20 and clause (d) of Section 4.18, Section 4.20, and Section 5.01(a)(iv)5.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture.

Appears in 2 contracts

Samples: Supplemental Indenture (Genesis Energy Lp), Indenture (Genesis Energy Lp)

Covenant Termination. If at any time (a) the rating assigned to the Notes by both S&P and Xxxxx’x Xxxxx'x is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers' Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company and its Restricted Subsidiaries will no longer be subject to the provisions of Section Sections 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, clauses (1)(a) and (3) of Section 4.18, and clause (d) of Section 4.20, and Section 5.01(a)(iv)5.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture.

Appears in 1 contract

Samples: Indenture (Martin Midstream Partners Lp)

Covenant Termination. If at any time (a) the rating assigned to the Notes by both S&P and Xxxxx’x is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company Parent and its Restricted Subsidiaries will no longer be subject to the provisions of Section Sections 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, clauses (1)(a) and (3) of Section 4.18, and clause (d) of Section 4.20, and Section 5.01(a)(iv)5.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture.

Appears in 1 contract

Samples: Indenture (Summit Midstream Partners, LP)

Covenant Termination. If at any time (a) the rating assigned to the Notes by S&P and Xxxxx’x or Mxxxx’x is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) of this sentence as of the date of such certificate, the Company and its Restricted Subsidiaries following provisions will no longer be subject to terminated (collectively, the provisions of “Terminated Covenants”): Section 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, Section 4.18, Section 4.20, and Section 5.01(a)(iv). Thereafter, the Company and its Restricted Subsidiaries shall not be subject to any of the Terminated Covenants. However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture.

Appears in 1 contract

Samples: Indenture (Enviva Partners, LP)

Covenant Termination. If at any time (a) the rating assigned to the Notes by both S&P and Xxxxx’x is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company Parent and its Restricted Subsidiaries will no longer be subject to the provisions of Section Sections 3.09, Section 4.06, 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.114.16, clauses (1)(a) and (3) of Section 4.17, and clause (d) of Section 4.18, Section 4.20, and Section 5.01(a)(iv)5.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture. Section 4.19.

Appears in 1 contract

Samples: Summit Midstream Partners, LP

AutoNDA by SimpleDocs

Covenant Termination. If Notwithstanding any provision of this Indenture or of the Notes to the contrary, if at any time (a) the rating assigned to the Notes by S&P and Xxxxx’x each of the Ratings Agencies is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company and its Restricted Subsidiaries will no longer be subject to Sections 4.07, 4.08, 4.09, 4.10, 4.11 and 4.13 of this Indenture and no Default or Event of Default shall result from any failure to comply with any of the provisions of Section 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, Section 4.18, Section 4.20, and Section 5.01(a)(iv). However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenturesuch Sections.

Appears in 1 contract

Samples: Indenture (Eagle Rock Energy Partners L P)

Covenant Termination. If at any time (a) the rating assigned to the Notes by both S&P and Xxxxx’x is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have Company has delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company and its Restricted Subsidiaries will no longer be subject to the provisions of Section Sections 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, Section 4.18, Section 4.204.19, and clause (d) of Section 5.01(a)(iv)5.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture.

Appears in 1 contract

Samples: Supplemental Indenture (Exterran Holdings Inc.)

Covenant Termination. If at any time (a) the rating assigned to the Notes by both S&P and Xxxxx’x is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company and its Restricted Subsidiaries will no longer be subject to the provisions of Section Sections 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, clauses (1)(a) and (3) of Section 4.18, and clause (d) of Section 4.20, and Section 5.01(a)(iv)5.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture.

Appears in 1 contract

Samples: Indenture (Crosstex Energy Lp)

Covenant Termination. If at any time (a) the rating assigned to the Notes by S&P and Xxxxx’x is have an Investment Grade Rating, (b) no Event of Default (other than a Reporting Default) has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company and its Restricted Subsidiaries will no longer be subject to the provisions of Section Sections 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.13, 4.17, Section 4.18, Section 4.204.19, and clause (d) of Section 5.01(a)(iv)5.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture.

Appears in 1 contract

Samples: Indenture (EV Energy Partners, LP)

Covenant Termination. If at any time (a) the rating assigned to the Notes by both S&P and Xxxxx’x is an Investment Grade Rating, (b) no Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company and its Restricted Subsidiaries will no longer be subject to the provisions of Section Sections 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, Section 4.18, Section 4.204.16, and clause (d) of Section 5.01(a)(iv). However5.01 of this Indenture; provided, however, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture. After the foregoing covenants have been terminated, the Company may not designate any of its Subsidiaries as Unrestricted Subsidiaries.

Appears in 1 contract

Samples: Supplemental Indenture (Western Refining Logistics, LP)

Covenant Termination. If at any time (a) the rating assigned to the Notes by both S&P and Xxxxx’x is an Investment Grade Rating, (b) no Default or Event of Default has occurred and is continuing under this Indenture and (c) the Issuers have delivered to the Trustee an Officers’ Certificate certifying to the matters specified in clauses (a) and (b) foregoing provisions of this sentence as of the date of such certificatesentence, the Company and its Restricted Subsidiaries will no longer be subject to the provisions of Section Sections 3.09, Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.17, clauses (1)(a) and (3) of Section 4.18, and clause (d) of Section 4.20, and Section 5.01(a)(iv)5.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject to all of the other provisions of this Indenture.

Appears in 1 contract

Samples: Indenture (PetroLogistics LP)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!