Credit Rating Deterioration Event. Upon the occurrence of the Credit Rating Deterioration Event, the principal amounts of all Debentures shall carry additional interest, over and above the applicable Coupon Rate, at the rate of 0.25% p.a. (zero point two five percent per annum) for every one notch downgrade of credit rating, computed from the date of downgrading of credit rating by each notch (“Rating Deterioration Interest”). Upon the occurrence of the Critical Credit Rating Deterioration Event, the principal amounts of all Debentures shall carry additional interest, over and above the applicable Coupon Rate, at the rate of 1% p.a. (one percent per annum) for every one notch downgrade of credit rating to AA- or below, computed from the date of downgrading of credit rating by each notch (“Critical Rating Deterioration Interest”). Upon occurrence of a Critical Credit Rating Deterioration Event, and within 90 (ninety) days from the date of occurrence of the Critical Credit Rating Deterioration Event, the Issuer may, at its option, after providing a written notice to the Debenture Trustee of at least 10 (ten) Business Days prior to the Credit Rating Prepayment Option Date (“Credit Rating Prepayment Option Notice”), prepay the outstanding principal amounts of all Debentures along with all the other Amounts Due including the accrued Coupon on the Debentures, (“Credit Rating Prepayment Option”). After the issuance of a Credit Rating Prepayment Option Notice, the Issuer shall prepay, on the Credit Rating Prepayment Option Date, amounts equal to the outstanding principal amounts of all the Debentures along with all the other Amounts Due, including accrued Coupon on the Debentures, and until such amounts have been prepaid, the Issuer shall continue to pay Coupon along with the Critical Rating Deterioration Interest as applicable pursuant to the terms of the Deed. A Credit Rating Prepayment Option Notice once issued by the Issuer shall be irrevocable.
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Samples: Debenture Trust Deed, Debenture Trust Deed, Debenture Trust Deed