Suspension of Certain Covenants. (a) Following the first day (the “Suspension Date”) that: (1) the Securities have an Investment Grade Rating from both of the Rating Agencies, and the Company has delivered written notice of such Investment Grade Ratings to the Trustee, and (2) no Default has occurred and is continuing hereunder, the Company and the Restricted Subsidiaries will not be subject to Sections 4.03, 4.04, 4.05, 4.06, 4.07, 4.11 and Section 5.01(a)(4) (collectively, the “Suspended Covenants”).
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Samples: Indenture (MPM Silicones, LLC), Indenture (MPM Silicones, LLC)
Suspension of Certain Covenants. (a) Following the first day (the “Suspension Date”) that:
(1) the Securities Notes have an Investment Grade Rating from both of the Rating Agencies, and the Company has delivered written notice of such Investment Grade Ratings to the Trustee, and
(2) no Default has occurred and is continuing hereunderhereunder with respect to the Notes, the Company and the its Restricted Subsidiaries will not be subject to Sections 4.03, 4.04, 4.05, 4.06, 4.07, 4.11 and Section 5.01(a)(4) (collectively5.01(a)(3)(collectively, the “Suspended Covenants”). In addition, the Company may elect to suspend the Subsidiary Guarantees.
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Suspension of Certain Covenants. (a) Following the first day (the “"Suspension Date”") that:
(1) the Securities have an Investment Grade Rating from both of the Rating Agencies, and the Company has delivered written notice of such Investment Grade Ratings to the Trustee, and
(2) no Default has occurred and is continuing hereunder, the Company and the its Restricted Subsidiaries will not be subject to Sections 4.03, 4.04, 4.05, 4.06, 4.07, 4.11 and Section 5.01(a)(45.01(a)(3) (collectively, the “"Suspended Covenants”"). In addition, the Company may elect to suspend the Subsidiary Guarantees.
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