Credit Rating Downgrade Sample Clauses

Credit Rating Downgrade. If, during the term of this Agreement, there is an adverse change in the financial condition of the Seller such that any of the Rating Agencies downgrades or issues a downgrade warning, the Seller must so inform T&D within five (5) Business Days of such downgrade or warning.
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Credit Rating Downgrade. The occurrence of a Trigger Event referred to in Paragraph 9 (Credit Rating Downgrade) of Part 1 (Trigger Events) of this Schedule 3 (Trigger Events) will be remedied if the credit rating of the Bonds given by the Rating Agency/ies that have been engaged by the Issuer to provide a public long term credit rating is no longer below Investment Grade.
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Credit Rating Downgrade. The long-term credit rating of any Bonds ascribed by the Rating Agency/ies which have been engaged by the Issuer to provide a public long-term credit rating) is downgraded below Investment Grade.
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Credit Rating Downgrade. The Borrower must promptly, upon becoming aware of it, notify the Lender and K-SURE of any downgrades to its credit rating of its bonds and/or notes obtained from Korea Ratings Corp., Korea Investor Service Inc. or NICE Investor Service.
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Credit Rating Downgrade. If, during the term of this Agreement, there is an adverse change in the financial condition of a Party or the issuer of any Credit Support such that any of the Rating Agencies downgrades or issues a downgrade warning, the Party must so inform the other Party within five (5) Business Days of such downgrade or warning, provided, however, that any failure to provide notification shall not be a default pursuant to Article 9
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Credit Rating Downgrade. If S&P or Xxxxx’x downgrade the Corporate Credit Rating or senior secured or unsecured debt issue rating of KCP&L or Westar (the “Impacted Utility”) or Holdco to below investment grade (i.e., below BBB- or Baa3), the “Impacted Utility” or Holdco commit to file: 8 In The Matter of the Application of Great Plains Energy Incorporated for Approval of its Merger with Westar Energy, Inc., Case No. EM-2018-0012, Stipulation and Agreement filed January 12, 2018, Condition 31. i. Notice with the Commission within five (5) business days of such downgrade that includes specification of the affected credit rating(s), the pre- and post-downgrade credit ratings of each affected credit rating, and a full explanation of why the credit rating agency or agencies downgraded each of the affected credit ratings; ii. A filing with the Commission within sixty (60) days which shall include the following: -1- Actions the Impacted Utility and Holdco may take to raise its S&P or Xxxxx’x credit rating to BBB- or Baa3, respectively, including the costs and benefits of such actions and any plan the Impacted Utility or Holdco may have to undertake such actions. If the costs of returning Westar and/or KCP&L to investment grade are above the benefits of such actions, Westar and/or KCP&L shall be required to show and explain why it is not necessary, or cost-effective, to take such actions and how the utility(s) can continue to provide efficient and sufficient service in Kansas under such circumstances; -2- The change on the capital costs of the Impacted Utility due to its S&P or Xxxxx’x credit rating being below BBB- or Baa3, respectively; and -3- Documentation detailing how the Impacted Utility will not request from its Kansas customers, directly or indirectly, any higher capital costs incurred due to a downgrade of its S&P or Xxxxx’x credit rating below BBB- or Baa3, respectively; iii. File with the Commission, every forty-five (45) days thereafter until the Impacted Utility has regained its S&P or Xxxxx’x credit rating of BBB- or Baa3, respectively or above, an updated status report with respect to the items required in subparagraph ii above. iv. If the Commission determines that the decline of the Impacted Utility’s S&P or Xxxxx’x credit rating to a level below BBB- or Baa3, respectively, has caused its quality of service to decline, then the Impacted Utility shall be required to file a plan with the Commission detailing the steps that will be taken to restore service quality levels th...
Sample 1
Credit Rating Downgrade. If S&P or Xxxxx’x downgrade the Corporate Credit Rating or senior secured or unsecured debt issue rating of KCP&L or Westar (the “Impacted Utility”) or Holdco to below investment grade (i.e., below BBB- or Baa3), the “Impacted Utility” or Holdco commits to file: i. Notice with the Commission within five (5) business days of such downgrade that includes specification of the affected credit rating(s), the pre- and post-downgrade credit ratings of each affected credit rating, and a full explanation of why the credit rating agency or agencies downgraded each of the affected credit ratings;
Sample 1
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Related to Credit Rating Downgrade

  • Credit Rating With respect to the Competitive Supplier or Competitive Supplier’s Guarantor, its senior unsecured, unsubordinated long-term debt rating, not supported by third party credit enhancement, and if such debt is no longer rated, then the corporate or long-term issuer rating of Competitive Supplier or Competitive Supplier’s Guarantor.

  • Credit Ratings Use commercially reasonable efforts to maintain at all times (a) a credit rating by each of S&P and Xxxxx’x in respect of the Term Facility and (b) a public corporate rating by S&P and a public corporate family rating by Xxxxx’x for the Borrower, in each case with no requirement to maintain any specific minimum rating.

  • Rating Agency Downgrade In the event that BSFP’s long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “AA-” by S&P or its long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “Aa3” by Moody’s (and together with S&P and Fitch, the “Swap Rating Agencies”, and such rating thresholds, “Approved Rating Thresholds”), then within 30 days after such rating withdrawal or downgrade, BSFP shall, subject to the Rating Agency Condition, at its own expense, either (i) cause another entity to replace BSFP as party to this Agreement that meets or exceeds the Approved Rating Thresholds and that is approved by Radian Insurance Inc. and Financial Guaranty Insurance Company (each a “NIMS Insurer” and collectively, the “NIMS Insurers”) (which approval shall not be unreasonably withheld) on terms substantially similar to this Agreement, (ii) obtain a guaranty of, or a contingent agreement of another person with the Approved Rating Thresholds, to honor, BSFP’s obligations under this Agreement; provided that such other person is approved by the NIMS Insurers, such approval not to be unreasonably withheld, (iii) post collateral satisfactory to each Swap Rating Agency and the NIMS Insurers which will be sufficient to restore the immediately prior ratings of the Certificates and any note insured by the NIMS Insurers, or (iv) establish any other arrangement satisfactory to the Swap Rating Agencies and the NIMS Insurers, which will be sufficient to restore the immediately prior ratings of the Certificates and any note insured by the NIMS Insurers. For purposes of this provision, “Rating Agency Condition” means, with respect to any particular proposed act or omission to act hereunder that the party acting or failing to act must consult with any of the Swap Rating Agencies then providing a rating of the Certificates and receive from the Swap Rating Agencies a prior written confirmation that the proposed action or inaction would not cause a downgrade or withdrawal of the then-current rating of the Certificates.

  • Debt Rating The Liquidity Provider has a short-term debt ratings of “P-1” from Xxxxx’x and “F1+” from Fitch.

  • Required Ratings The Offered Certificates shall have received Required Ratings of at least [ ] from [ ].

  • Debt Ratings Prompt notice of any change in its Debt Ratings.

  • Downgrade You have no rights to use earlier versions of the software under this license and Microsoft is not obligated to supply earlier versions to you.

  • Ratings No “nationally recognized statistical rating organization” as such term is defined for purposes of Rule 436(g)(2) (i) has imposed (or has informed the Company that it is considering imposing) any condition (financial or otherwise) on the Company’s retaining any rating assigned to the Company or any securities of the Company or (ii) has indicated to the Company that it is considering any of the actions described in Section 7(c)(ii) hereof.

  • Moody’s Xxxxx’x Investors Service, Inc. and its successors.

  • No Downgrade Subsequent to the earlier of (A) the Applicable Time and (B) the execution and delivery of this Agreement, (i) no downgrading shall have occurred in the rating accorded any debt securities, convertible securities or preferred stock issued, or guaranteed by, the Company or any of its subsidiaries by any “nationally recognized statistical rating organization,” as such term is defined under Section 3(a)(62) under the Exchange Act and (ii) no such organization shall have publicly announced that it has under surveillance or review, or has changed its outlook with respect to, its rating of any such debt securities or preferred stock issued or guaranteed by the Company or any of its subsidiaries (other than an announcement with positive implications of a possible upgrading).

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