Adverse Credit Event means with respect to Seller, Buyer or Seller’s Guarantor, as applicable, that one or more of its Credit Ratings have been downgraded to a level below BBB- or Baa3; or with respect to Seller’s Guarantor, a failure to meet each of the conditions set forth in Section 8.2(a)(ii); or with respect to Seller, Buyer or Seller’s Guarantor, as applicable, such entity is no longer rated.
Adverse Credit Event means if you commit an act of bankruptcy or if you are insolvent and are unable to pay your debts as they fall due or legal proceedings are commenced (and not dismissed within 30 days) or, if you are a company an order is made or any step is taken toward dissolution or a receiver, liquidator, trustee, administrator or similar officer is appointed in respect of you or any of your assets;
Examples of Adverse Credit Event in a sentence
If a child is cared for under section 20 the Local Authority does not share PR – the parents retain full PR.