Common use of Suspension of Covenants on Achievement of Investment Grade Status Clause in Contracts

Suspension of Covenants on Achievement of Investment Grade Status. (a) If on any date following the Issue Date, the Notes have achieved Investment Grade Status and no Default or Event of Default has occurred and is continuing (a “Suspension Event”), then, beginning on that day and continuing until such time, if any, at which the Notes cease to have Investment Grade Status (the “Reversion Date”), Section 4.01, Section 4.02, Section 4.04, Section 4.05, Section 4.06, Section 4.08 and Section 5.01(a)(iii) of this Indenture and, in each case, any related default provision of this Indenture will cease to be effective and will not be applicable to the Parent and its Restricted Subsidiaries.

Appears in 2 contracts

Samples: Intercreditor Agreement (Ferroglobe PLC), Indenture (Ferroglobe PLC)

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Suspension of Covenants on Achievement of Investment Grade Status. (a) If a)If on any date following the Issue Date, the Notes have achieved Investment Grade Status and no Default or Event of Default has occurred and is continuing (a “Suspension Event”), then, beginning on that day and continuing until such time, if any, at which the Notes cease to have Investment Grade Status (the “Reversion Date”), Section 4.01, Section 4.02, Section 4.04, Section 4.05, Section 4.06, Section 4.08 and Section 5.01(a)(iii) of this Indenture and, in each case, any related default provision of this Indenture will cease to be effective and will not be applicable to the Parent and its Restricted Subsidiaries.

Appears in 2 contracts

Samples: Intercreditor Agreement (Ferroglobe PLC), Intercreditor Agreement (Ferroglobe PLC)

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Suspension of Covenants on Achievement of Investment Grade Status. (a1) If on any date following the Issue Date, the Notes have achieved Investment Grade Status and no Default or Event of Default has occurred and is continuing (a “Suspension Event”), then, beginning on that day and continuing until such time, if any, at which the Notes cease to have Investment Grade Status (the “Reversion Date”), Section 4.01, Section 4.02, Section 4.04, Section 4.05, Section 4.06, Section 4.08 4.07, Section 4.08, Section 4.12, Section 4.15 and Section 5.01(a)(iii5.01(a)(1)(c) of this Indenture will not apply to the Notes, and, in each case, any related default provision of this Indenture will cease to be effective and will not be applicable to the Parent Issuer and its Restricted Subsidiaries.

Appears in 1 contract

Samples: Indenture (InterXion Holding N.V.)

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