PV-9 Coverage Ratio. If, as of the last day of any fiscal quarter ending during an Investment Grade Period, the Borrower does not have an Investment Grade Rating from at least two of Xxxxx’x, S&P and Fitch, the Borrower will not permit the PV-9 Coverage Ratio, as of the last day of such fiscal quarter, to be less than 1.50 to 1.00; provided that, if the Borrower does have an Investment Grade Rating from at least two of Xxxxx’x, S&P and Fitch as of such date, this Section 9.01(c) shall not apply as of such date.
Appears in 2 contracts
Samples: Credit Agreement (Permian Resources Corp), Credit Agreement (Centennial Resource Development, Inc.)
PV-9 Coverage Ratio. If, as of the last day of any fiscal quarter ending during an Investment Grade Period, the Borrower does not have an Investment Grade Rating from at least two of Xxxxx’x, S&P both Xxxxx’x and FitchS&P, the Borrower will not permit the PV-9 Coverage Ratio, as of the last day of such fiscal quarter, to be less than 1.50 to 1.00; provided that, if the Borrower does have an Investment Grade Rating from at least two of Xxxxx’x, S&P and Fitch as of such date, this Section 9.01(c) shall not apply as of such date.
Appears in 2 contracts
Samples: Credit Agreement (PDC Energy, Inc.), Credit Agreement (PDC Energy, Inc.)
