Adverse Credit Event definition

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.
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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;
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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.

Related to Adverse Credit Event

  • Credit Event shall have the meaning assigned to such term in Section 4.01.

  • Credit Event UPB means, with respect to any Credit Event Reference Obligation, the unpaid principal balance thereof as of the end of the Reporting Period related to the Payment Date that it became a Credit Event Reference Obligation.

  • Credit Event Notice means an irrevocable notice from the Issuer or the Swap Counterparty, as the case may be, to the other party (in the form and delivered in the manner described in the Default Swap) that describes a Credit Event that occurred on or after the Effective Date of the Default Swap.

  • Credit Event Amount means, with respect to any Payment Date, the aggregate amount of the Credit Event UPBs of all Credit Event Reference Obligations for the related Reporting Period.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Credit Event Net Gain means, with respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of:

  • Revolving Credit Extension Request shall have the meaning provided in Section 2.15(a)(ii).

  • Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.

  • Credit Event Reference Obligation means, with respect to any Payment Date, any Reference Obligation with respect to which a Credit Event has occurred.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Extension of Credit means, as to any Lender, the making of a Loan by such Lender or the issuance of, or participation in, a Letter of Credit by such Lender.

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Credit Event Net Loss means, with respect to any Credit Event Reference Obligation, an amount equal to the excess, if any, of:

  • Credit Extension Date means the Borrowing Date for an Advance or the issuance date for a Facility LC.

  • Borrowing Date any Business Day specified by the Borrower as a date on which the Borrower requests the relevant Lenders to make Loans hereunder.

  • Credit Extension means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

  • Aggregate Credit Exposure means, at any time, the aggregate Credit Exposure of all the Lenders.

  • U.S. Swingline Loan means any swingline loan denominated in Dollars made by the applicable Swingline Lender to a US Borrower pursuant to Section 2.2, and all such swingline loans collectively as the context requires.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Credit Event Resolution Request Date means, with respect to a notice to ISDA requesting that a Credit Derivatives Determinations Committee be convened to resolve:

  • Aggregate Credit Exposures means, at any time, in respect of (a) the Term Facility, the aggregate amount of the Term Loans outstanding at such time and (b) in respect of the Revolving Credit Facility, the sum of (i) the unused portion of the Revolving Credit Facility at such time and (ii) the Total Revolving Credit Outstandings at such time.

  • Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to: