Common use of Limitation on Applicability of Certain Covenants Clause in Contracts

Limitation on Applicability of Certain Covenants. During any period of time that (i) the ratings assigned to the Senior Notes by each of S&P and Xxxxx'x (collectively, the "Rating Agencies") are no less than BBB-and Baa3, respectively (the "Investment Grade Ratings"), and (ii) no Default or Event of Default has occurred and is continuing, the Guarantor and its Restricted Subsidiaries (including, without limitation, LGII) will not be subject to the covenants contained in Sections 4.07, 4.08, 4.09, 4.12, 4.13 and 4.14 (collectively, the "Suspended Covenants"). If one or both Rating Agencies withdraws its rating or downgrades its Investment Grade Rating, then thereafter the Guarantor and its Restricted Subsidiaries will be subject, on a prospective basis, to the Suspended Covenants (until the Rating Agencies have again assigned Investment Grade Ratings to the Senior Notes) and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal or downgrade will be calculated in accordance with the covenant contained in Section 4.07 as if such covenant had been in effect at all times after the Measurement Date.

Limitation on Applicability of Certain Covenants. During any period of time that (i1) the ratings rating assigned to the Senior Notes Securities by each either of S&P and Xxxxx'x Moody's (collectively, the "Rating Agencies") are is no less than BBB-BBB- and Baa3Xxx0, respectively (the an "Investment Grade RatingsRating"), and (ii2) no Default or Event of Default has occurred and is continuing, the Guarantor Company and its Restricted Subsidiaries (including, without limitation, LGII) will not be subject to the covenants contained ("Covenant Suspension") described in Sections 4.07, Section 4.08, Section 4.09, Section 4.12, 4.13 Section 4.13, Section 4.14, clause (1)(A) of Section 4.15, and 4.14 Section 5.01(a)(4) (collectively, the "Suspended Covenants"). If one or both Rating Agencies withdraws its rating or downgrades its If, at any time following a Covenant Suspension, the Securities do not continue to have an Investment Grade RatingRating from at least one of the Rating Agencies, then thereafter the Guarantor Covenant Suspension will end and the Company and its Restricted Subsidiaries will again be subject, on a prospective basis, subject to the Suspended Covenants (until at least one of the Rating Agencies have has again assigned an Investment Grade Ratings Rating to the Senior Notes) and compliance Securities). Compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal or downgrade any Covenant Suspension ends will again be calculated in accordance with the covenant contained described in Section 4.07 4.09 of this Indenture as if such covenant had been in effect at all times after the Measurement Datedate of this Indenture.

Limitation on Applicability of Certain Covenants. During any period of time that (i) the ratings assigned to the Senior Notes Securities by each of S&P and Xxxxx'x Moodx'x (collectivelyxxllectively, the "Rating Agencies") are no less than BBB-BBB- and Baa3, respectively (the "Investment Grade Ratings"), and (ii) no Default or Event of Default has occurred and is continuing, the Guarantor Company and its Restricted Subsidiaries (including, without limitation, LGII) will not be subject to the covenants contained described in Sections 4.07, 4.08, 4.09, 4.12, 4.13 4.13, 4.14 and 4.14 4.16 (collectively, the "Suspended Covenants"). If one or both Rating Agencies withdraws its rating or downgrades its Investment Grade Rating, then thereafter the Guarantor Company and its Restricted Subsidiaries will be subject, on a prospective basis, subject to the Suspended Covenants (until the Rating Agencies have again assigned Investment Grade Ratings to the Senior NotesSecurities) and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal or downgrade will be calculated in accordance with the covenant contained described in Section 4.07 4.09 as if such covenant had been in effect at all times after the Measurement Datedate of this Indenture.

Limitation on Applicability of Certain Covenants. During any period of time that (i) the ratings assigned to the Senior Notes by each of S&P and Xxxxx'x (collectively, the "Rating AgenciesRATING AGENCIES") are no less than BBB-and Baa3, respectively (the "Investment Grade RatingsINVESTMENT GRADE RATINGS"), and (ii) no Default or Event of Default has occurred and is continuing, the Guarantor and its Restricted Subsidiaries (including, without limitation, LGII) will 50 not be subject to the covenants contained in Sections 4.07, 4.08, 4.09, 4.12, 4.13 and 4.14 (collectively, the "Suspended CovenantsSUSPENDED COVENANTS"). If one or both Rating Agencies withdraws its rating or downgrades its Investment Grade Rating, then thereafter the Guarantor and its Restricted Subsidiaries will be subject, on a prospective basis, to the Suspended Covenants (until the Rating Agencies have again assigned Investment Grade Ratings to the Senior Notes) and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal or downgrade will be calculated in accordance with the covenant contained in Section 4.07 as if such covenant had been in effect at all times after the Measurement Date.

Limitation on Applicability of Certain Covenants. During any period of time that (i) the ratings assigned to the Senior Notes Securities by each of S&P and Xxxxx'x Moody's (collectivelycollectixxxx, the "Rating Agencies") are no less than BBB-and Baa3, respectively (the "Investment Grade Ratings"), and (ii) no Default or Event of Default has occurred and is continuing, the Guarantor TLGI and its Restricted Subsidiaries (including, without limitation, LGII) will not be subject to the covenants contained in Sections 4.07, 4.08, 4.09, 4.12, 4.13 and 4.14 (collectively, the "Suspended Covenants"). If one or both Rating Agencies withdraws its rating or downgrades its Investment Grade Rating, then thereafter the Guarantor TLGI and its Restricted Subsidiaries will be subject, on a prospective basis, to the Suspended Covenants (until the Rating Agencies have again assigned Investment Grade Ratings to the Senior NotesSecurities) and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal or downgrade will be calculated in accordance with the covenant contained in Section 4.07 as if such covenant had been in effect at all times after the Measurement Date.

Limitation on Applicability of Certain Covenants. During any period of time that (i) the ratings assigned to the Senior Notes Securities by each of S&P and Xxxxx'x Moody's (collectivelycoxxxxxxxely, the "Rating Agencies") are no less than BBB-and Baa3, respectively (the "Investment Grade Ratings"), and (ii) no Default or Event of Default has occurred and is continuing, the Guarantor TLGI and its Restricted Subsidiaries (including, without limitation, 50 LGII) will not be subject to the covenants contained in Sections 4.07, 4.08, 4.09, 4.12, 4.13 and 4.14 (collectively, the "Suspended Covenants"). If one or both Rating Agencies withdraws its rating or downgrades its Investment Grade Rating, then thereafter the Guarantor TLGI and its Restricted Subsidiaries will be subject, on a prospective basis, to the Suspended Covenants (until the Rating Agencies have again assigned Investment Grade Ratings to the Senior NotesSecurities) and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal or downgrade will be calculated in accordance with the covenant contained in Section 4.07 as if such covenant had been in effect at all times after the Measurement Date.

Limitation on Applicability of Certain Covenants. During any period of time that (i) the ratings assigned to the Senior Notes by each of S&P and Xxxxx'x (collectively, the "Rating Agencies") are no less than BBB-and Baa3, respectively (the "Investment Grade Ratings"), and (ii) no Default or Event of Default has occurred and is continuing, the Guarantor Xxxxxx and its Restricted Subsidiaries (including, without limitation, LGII) will not be subject to the covenants contained in Sections 4.07, 4.08, 4.09, 4.12, 4.13 and 4.14 (collectively, the "Suspended Covenants"). If one or both Rating Agencies withdraws its rating or downgrades its Investment Grade Rating, then thereafter the Guarantor Xxxxxx and its Restricted Subsidiaries will be subject, on a prospective basis, to the Suspended Covenants (until the Rating Agencies have again assigned Investment Grade Ratings to the Senior Notes) and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal or downgrade will be calculated in accordance with the covenant contained in Section 4.07 as if such covenant had been in effect at all times after the Measurement Date.

Limitation on Applicability of Certain Covenants. During any period of time that (i) the ratings assigned to the Senior Notes Securities by each of S&P and Xxxxx'x (collectively, the "Rating AgenciesRATING AGENCIES") are no less than BBB-and Baa3, respectively (the "Investment Grade RatingsINVESTMENT GRADE RATINGS"), and (ii) no Default or Event of Default has occurred and is continuing, the Guarantor TLGI and its Restricted Subsidiaries (including, without limitation, LGII) will not be subject to the covenants contained in Sections 4.07, 4.08, 4.09, 4.12, 4.13 and 4.14 (collectively, the "Suspended CovenantsSUSPENDED COVENANTS"). If one or both Rating Agencies withdraws its rating or downgrades its Investment Grade Rating, then thereafter the Guarantor TLGI and its Restricted Subsidiaries will be subject, on a prospective basis, to the Suspended Covenants (until the Rating Agencies have again assigned Investment Grade Ratings to the Senior NotesSecurities) and compliance with the Suspended Covenants with respect to Restricted Payments made after the time of such withdrawal or downgrade will be calculated in accordance with the covenant contained in Section 4.07 as if such covenant had been in effect at all times after the Measurement Date.