Common use of Termination of Certain Covenants Clause in Contracts

Termination of Certain Covenants. In the event that the ratings assigned to the Senior Notes by Standard & Poor’s Credit Market Services, a division of the XxXxxx-Xxxx Companies (or successor thereto) and Xxxxx’x Investors Service, Inc. (or successor thereto) are equal to or higher than BBB- and Baa3, or the equivalents thereof, respectively (the “Investment Grade Ratings”), and notwithstanding that the Senior Notes may later cease to have an Investment Grade Rating, the Company and its Subsidiaries will not be subject to its obligations under Sections 1007, 1008, 1009, 1010, 1013 and 1015 and clauses (iii) and (iv) of Section 801, provided that no Default or Event of Default has occurred and is continuing.

Termination of Certain Covenants. In the event that the ratings assigned to any Outstanding series of the Senior Notes Securities by Standard & Poor’s Credit Market Ratings Services, a division of the XxXxxx-Xxxx Companies Companies, Inc. (or successor thereto) and Xxxxx’x Investors Service, Inc. (or successor thereto) are equal to or higher than BBB- BBB– and Baa3, or the equivalents thereof, respectively (the “Investment Grade Ratings”), and notwithstanding that the Senior Notes such may later cease to have an Investment Grade Rating, the Company and its Subsidiaries will not be subject to its obligations under Sections 100710.08, 100810.09, 100910.12, 101010.13, 1013 and 1015 10.14, 10.17, 10.19 and clauses (iii) 3 and (iv) 4 of Section 8018.01, provided that no Default or Event of Default has occurred and is continuing.

Termination of Certain Covenants. In the event that the ratings assigned to the Senior Notes by Standard & Poor’s Credit Market Services, a division of the XxXxxx-Xxxx Companies (or successor thereto) and Xxxxx’x Investors Service, Inc. (or successor thereto) are equal to or higher than BBB- and Baa3, or the equivalents thereof, respectively (the “Investment Grade Ratings”), and notwithstanding that the Senior Notes may later cease to have an Investment Grade Rating, the Company and its Subsidiaries will not be subject to its obligations under Sections 1007, 1008, 10091011, 10101012, 1013 and 1015 1013, 1016, 1018 and clauses (iii) and (iv) of Section 801, provided that no Default or Event of Default has occurred and is continuing.

Termination of Certain Covenants. In the event that the ratings assigned to any Outstanding series of the Senior Notes Securities by Standard & Poor’s Credit Market Ratings Services, a division of the XxXxxx-Xxxx Companies Companies, Inc. (or successor thereto) and Xxxxx’x Investors Service, Inc. (or successor thereto) are equal to or higher than BBB- BBB— and Baa3, or the equivalents thereof, respectively (the “Investment Grade Ratings”), and notwithstanding that the Senior Notes such may later cease to have an Investment Grade Rating, the Company and its Subsidiaries will not be subject to its obligations under Sections 100710.08, 100810.09, 100910.12, 101010.13, 1013 and 1015 10.14, 10.17, 10.19 and clauses (iii) 3 and (iv) 4 of Section 8018.01, provided that no Default or Event of Default has occurred and is continuing.

Termination of Certain Covenants. In the event that the ratings assigned to the Senior Notes by Standard & Poor’s Credit Market Services, a division of the XxXxxx-Xxxx Companies (or successor thereto) and Xxxxx’x Investors Service, Inc. (or successor thereto) are equal to or higher than BBB- BBB— and Baa3, or the equivalents thereof, respectively (the “Investment Grade Ratings”), and notwithstanding that the Senior Notes may later cease to have an Investment Grade Rating, the Company and its Subsidiaries will not be subject to its obligations under Sections 1007, 1008, 10091011, 10101012, 1013 and 1015 1013, 1016, 1018 and clauses (iii) and (iv) of Section 801, provided that no Default or Event of Default has occurred and is continuing.