Common use of Rating on the Notes Clause in Contracts

Rating on the Notes. (a) The Company shall at all times maintain a Debt Rating for the Notes from at least one Acceptable Rating Agency, and the Company will not at any time permit any such Debt Rating to be lower than BBB-/Baa3 (or its equivalent). (b) At any time that the Debt Rating maintained pursuant to clause (a) above is not a public rating, the Company will provide to each holder of a Note (i) at least annually (on or before each anniversary of the date of the Closing) and (ii) with reasonable promptness upon any change in such Debt Rating, an updated Private Rating Letter evidencing such Debt Rating and an updated Private Rating Rationale Report with respect to such Debt Rating. In addition to the foregoing information and any information specifically required to be included in any Private Rating Letter or Private Rating Rationale Report (as set forth in the respective definitions thereof), if the SVO or any other Governmental Authority having jurisdiction over any holder of any Notes from time to time requires any additional information with respect to the Debt Rating of the Notes, the Company shall use commercially reasonable efforts to procure such information from the Acceptable Rating Agency. Section 1.4 Section 9.10 of the Note Purchase Agreement shall be amended and restated in its entirety to read as follows:

Appears in 4 contracts

Samples: Note Purchase Agreement (Caseys General Stores Inc), Note Purchase Agreement (Caseys General Stores Inc), Note Purchase Agreement (Caseys General Stores Inc)

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Rating on the Notes. (a) The Company shall at all times maintain a Debt Rating for the Notes from at least one Acceptable Rating Agency, and the Company will not at any time permit any such Debt Rating to be lower than BBB-/Baa3 (or its equivalent). (b) At any time that the Debt Rating maintained pursuant to clause (a) above is not a public rating, the Company will provide to each holder of a Note (i) at least annually (on or before each anniversary of the date of the Closing) and (ii) with reasonable promptness upon any change in such Debt Rating, an updated Private Rating Letter evidencing such Debt Rating and an updated Private Rating Rationale Report with respect to such Debt Rating. In addition to the foregoing information and any information specifically required to be included in any Private Rating Letter or Private Rating Rationale Report (as set forth in the respective definitions thereof), if the SVO or any other Governmental Authority having jurisdiction over any holder of any Notes from time to time requires any additional information with respect to the Debt Rating of the Notes, the Company shall use commercially reasonable efforts to procure such information from the Acceptable Rating Agency. Section 1.4 Section 9.10 of the Note Purchase Agreement shall be amended and restated in its entirety to read as follows:

Appears in 1 contract

Samples: Note Purchase Agreement (Caseys General Stores Inc)

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