Common use of Effectiveness of Covenants Clause in Contracts

Effectiveness of Covenants. (a) At any time after the Notes have received Investment Grade Ratings from two Rating Agencies (a “Covenant Suspension Event”), upon notice by the Issuer to the Trustee certifying that a Covenant Suspension Event has occurred and that at the time of the giving of such notice no Default has occurred and is continuing under this Indenture (a “Covenant Suspension Event Notice”), then, beginning on the day such notice is given and continuing until the Reversion Date (as defined below), the Issuer and its Restricted Subsidiaries shall not be subject to the following Sections of this Indenture (collectively, the “Suspended Covenants”):

Appears in 6 contracts

Samples: Indenture (Howard Hughes Corp), Indenture (Howard Hughes Corp), Indenture (Howard Hughes Corp)

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Effectiveness of Covenants. (a) At any time after the Notes have received Investment Grade Ratings from two Rating Agencies (a “Covenant Suspension Event”), upon notice by the Issuer to the Trustee in an Officers’ Certificate certifying that a Covenant Suspension Event has occurred and that at the time of the giving of such notice no Default has occurred and is continuing under this Indenture (a “Covenant Suspension Event Notice”), then, beginning on the day such notice is given (such date, the “Suspension Date”) and continuing until the Reversion Date (as defined below), the Issuer and its the Restricted Subsidiaries shall not be subject to the following Sections of this Indenture (collectively, the “Suspended Covenants”):

Appears in 3 contracts

Samples: Indenture (Forestar Group Inc.), Indenture (Forestar Group Inc.), Indenture (Forestar Group Inc.)

Effectiveness of Covenants. (a) At any time after the Notes have received Investment Grade Ratings from two Rating Agencies (a “Covenant Suspension Event”), upon notice by the Issuer Issuers to the Trustee certifying that a Covenant Suspension Event has occurred and that at the time of the giving of such notice no Default has occurred and is continuing under this Indenture (a “Covenant Suspension Event Notice”), then, beginning on the day such notice is given and (the “Suspension Date”)and continuing until the Reversion Date (as defined below), the Issuer and its the Restricted Subsidiaries shall not be subject to the following Sections of this Indenture (collectively, the “Suspended Covenants”):

Appears in 1 contract

Samples: Indenture (Five Point Holdings, LLC)

Effectiveness of Covenants. (a) At any time after the Notes have received Investment Grade Ratings from two Rating Agencies (a “Covenant Suspension Event”), upon written notice by the Issuer Company to the Trustee certifying that a Covenant Suspension Event has occurred and that at the time of the giving of such notice no Default has occurred and is continuing under this Indenture (a “Covenant Suspension Event Notice”), then, beginning on the day such notice is given and continuing until the Reversion Date (as defined below), the Issuer Company and its Restricted Subsidiaries shall not be subject to the following Sections of this Indenture (collectively, the “Suspended Covenants”):

Appears in 1 contract

Samples: Indenture (Brookfield Residential Properties Inc.)

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Effectiveness of Covenants. (a) At any time after the Notes have received Investment Grade Ratings from two Rating Agencies (a “Covenant Suspension Event”), upon notice by the Issuer Issuers to the Trustee certifying that a Covenant Suspension Event has occurred and that at the time of the giving of such notice no Default has occurred and is continuing under this Indenture (a “Covenant Suspension Event Notice”), then, beginning on the day such notice is given (the “Suspension Date”) and continuing until the Reversion Date (as defined below), the Issuer and its the Restricted Subsidiaries shall not be subject to the following Sections of this Indenture (collectively, the “Suspended Covenants”):

Appears in 1 contract

Samples: Indenture (Five Point Holdings, LLC)

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