Common use of Covenant Termination Clause in Contracts

Covenant Termination. (a) All of the covenants set forth in Article 4 hereof shall be applicable to the Company and its Restricted Subsidiaries unless the Company reaches Investment Grade Status and maintains such status for six months from such date. After the Company has reached Investment Grade Status and such six month period has elapsed, and notwithstanding that the Company may later cease to have an Investment Grade Rating from either or both of the Rating Agencies, the Company and its Restricted Subsidiaries shall be released from their obligations to comply with Sections 4.10, 4.11, 4.12, 4.14, 4.15, 4.16, 4.18, 4.19, 4.21, 4.23 (any failure to comply thereunder will not be a Default or Event of Default) but shall remain obligated (i) to comply with Sections 4.01 through 4.09, Section 4.13, Section 4.17, Section 4.20 and 4.22. (b) The Company shall also, upon reaching Investment Grade Status, remain obligated to comply with Section 5.01 (other than clause (d) of the first paragraph thereunder).