Collateral Release Event shall have the meaning assigned to such term in Section 5.10(g).
Collateral Release Event means the satisfaction of each of the following conditions: (a) the corporate family rating of the Borrower and its Subsidiaries from Xxxxx’x is Baa3 or better (with a stable outlook or better), (b) the corporate rating of the Borrower and its Subsidiaries from S&P is BBB- or better (with a stable outlook or better), (c) no Default exists, and (d) the Administrative Agent’s receipt of a certificate from the Borrower with respect to the foregoing.
Collateral Release Event means the satisfaction of each of the following conditions:
Examples of Collateral Release Event in a sentence
Take or omit to take any action that would have the result of materially impairing the security interests in favor of the Administrative Agent with respect to the Collateral (other than in connection with a Collateral Release Event).
At the same time, the most important factor affecting the purchasing decision was purchase price.
Notwithstanding anything to the contrary contained in this Agreement or any Credit Document, if at any time (including after a Collateral Reinstatement Event shall have previously occurred) a Collateral Release Event shall have occurred and be continuing, then all Collateral (other than Cash Collateral) and the Security Documents (other than Security Documents entered into in connection with Cash Collateral) shall be released automatically and terminated without any further action.
More Definitions of Collateral Release Event
Collateral Release Event means the satisfaction of each of the following conditions: (a) the Borrower’s Debt Rating shall have been published by at least two of the following rating agencies and such ratings be at least (such requirement, the “Minimum Ratings Requirement”) (i) Baa3 (stable or better outlook) by Moody’s, (ii) BBB- (stable or better outlook) by S&P, and/or (iii) BBB- (stable or better outlook) by Fitch, (b) no Default or Event of Default shall have occurred and be continuing and (c) the Administrative Agent shall have received a certificate from the Borrower certifying to the foregoing in a manner reasonably acceptable to the Administrative Agent.
Collateral Release Event means the occurrence, after the occurrence of a Collateral Event, of the earlier to occur of (i) the termination of the Commitments, the payment in full of all obligations under the Loan Documents and the expiration or termination of all Letters of Credit and (ii) the rating of the Facilities by S&P of BB+ or greater and by Moody's of Ba1 or greater, in each case after giving effect to the rxxxxxx of all Collateral.
Collateral Release Event shall occur on the first date when (A) there is no Equally and Ratably Secured Indebtedness outstanding (or, all Equally and Ratably Secured Indebtedness outstanding on such date shall cease to constitute Equally and Ratably Secured Indebtedness substantially concurrently with the release of the Liens on the Collateral securing the Notes) and (B) the Company has delivered an Officer’s Certificate to the Trustee certifying that the condition set forth in clause (A) above is satisfied.
Collateral Release Event means a date following the Closing Date on which the Company certifies pursuant to Section 5.17 that (a) no Default or Event of Default has occurred and is continuing and (b) the Collateral Release Conditions are satisfied.
Collateral Release Event means the satisfaction of each of the following conditions: (a) the Borrower’s Debt Rating shall have been published by at least two of the following rating agencies and such ratings be at least (such requirement, the “Minimum Ratings Requirement”) (i) Baa3 (stable or better outlook) by Xxxxx’x, (ii) BBB- (stable or better outlook) by S&P, and/or (iii) BBB- (stable or better outlook) by Fitch, (b) no Default or Event of Default shall have occurred and be continuing and (c) the Administrative Agent shall have received a certificate from the Borrower certifying to the foregoing in a manner reasonably acceptable to the Administrative Agent.
Collateral Release Event means the satisfaction of each of the following conditions: (a) the corporate family rating of the Company and its Subsidiaries from Moody’s is Baa3 or better (with a stable outlook or better), (b) the corporate rating of the Company and its Subsidiaries from S&P is BBB- or better (with a stable outlook or better), (c) no Default or Event of Default exists, and (d) the Term B Facility (and any Incremental Term Loan in the nature of a “term loan B” facility) shall have been paid in full and terminated.
Collateral Release Event means the satisfaction of each of the following conditions: (a) no Default or Event of Default shall have occurred and be continuing; (b) the achievement of public corporate/corporate family ratings of Silgan from each of Moody’s and S&P of at least (in each case, with a stable or better outlook) (i) Ba1 and BBB- or (ii) Baa3 and BB+ and (c) the Administrative Agent shall have received a certificate from Silgan certifying to the foregoing in a manner reasonably acceptable to the Administrative Agent.