Collateral Trigger definition

Collateral Trigger means the date on which (a) the Borrower's corporate credit rating shall be lower than BBB- by S&P or (b) the Borrower's Public Debt Rating shall be lower than Baa3 by Moody's.
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Collateral Trigger means the earlier of the issuance of the Senior Notes (2002) and May 15, 2002.
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Collateral Trigger means the obligation of the Borrower pursuant to paragraph (b) of Clause 18.2 (Top-up obligations), and any reference to curing a Collateral Trigger means compliance with such obligation.
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Examples of Collateral Trigger in a sentence

  • It shall constitute an Additional Termination Event, in respect of which Party A shall be the sole Affected Party, if Party A fails to comply with or perform any of its obligations in accordance with the Credit Support Annex and the Collateral Trigger Requirements apply and at least 30 Local Business Days have elapsed since the last time the Collateral Trigger Requirements did not apply, and such failure shall not be or give rise to an Event of Default.

  • The Class A Swap Agreement may be terminated early in the following circumstances: 5.10.4.2.1 Downgrade of the Class A Swap Counterparty by Moody’s If neither the Class A Swap Counterparty nor, if applicable, its guarantor has a counterparty risk assessment from Moody's of at least “Baa2” (such rating requirements, the “Qualifying Collateral Trigger Ratings”), the Class A Swap Counterparty will be required to post collateral in the amount and manner set out in the Credit Support Annex.

  • After the occurrence of an Collateral Trigger Event, such policies of insurance shall contain satisfactory mortgagee/lender’s loss payable endorsements, naming the Administrative Agent (or its security trustee) as mortgagee or lender loss payee, assignee or additional insured, as appropriate, as its interest may appear, and showing only such other loss payees, assignees and additional insureds as are satisfactory to the Administrative Agent.

  • Open Procedure The open procedure is a single stage procedure in terms of which all interested parties may submit a tender in response to the contract advertisement.

  • The Collateral Trigger Level will be specified in the applicable Final Terms.

  • If, following the making of one or more demands under this Section 11, a reduction is effected pursuant to the last sentence of the first paragraph in Section 6(e), the aggregate amount payable in respect of such demands shall be deemed to be discharged to the extent of the amount of such reduction.”(l) Definitions.For the purpose of this Agreement:The “Collateral Trigger Requirements” shall apply so long as no Relevant Entity has a Qualifying Collateral Trigger Rating.

  • Upon the occurrence of a Collateral Trigger Event (as defined in the CP Deposit), any Collateral Assets delivered to the Issuer under the CP Deposit will be held by the Custodian on behalf of the Issuer, subject to the security created at any time in favour of the Trustee on behalf of secured creditors under the Trust Deed.

  • For the purposes of this Agreement: The "Collateral Trigger Requirements" shall apply so long as no Relevant Entity has a Qualifying Collateral Trigger Rating and Party A has not obtained, if relevant, a rating agency confirmation from Moody’s on each occasion as may be relevant in respect thereof or the terms of any such rating agency confirmation from Moody's are subsequently breached.

  • The Borrower shall promptly notify the Administrative Agent in writing of the occurrence of any Collateral Trigger Event.

  • If a Downgrade Event occurs in respect of the CP Deposit, within the prescribed period either the CP Deposit will be Transferred to a new Non CP Deposit (under the terms of the CDS) or a Collateral Trigger Event will occur under the CP Deposit such that Collateral Assets will be delivered by the Counterparty to the Issuer under the CP Deposit.


More Definitions of Collateral Trigger

Collateral Trigger means the obligation of the Borrower pursuant to Clause 20.2 ( Top-up obligations), and any reference to curing a CollateralTrigger means compliance with such obligation.
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Collateral Trigger means, at any time, the occurrence of either of the following: (a) the Xxxxx’x Rating is equal to or below Ba2 or (b) the S&P Rating is equal to or below BB; provided that for purposes of determining whether a Collateral Trigger shall have occurred, (x) in the event that either the S&P Rating or the Xxxxx’x Rating is unavailable, then the rating that is not available shall be deemed to be the same as the rating that is available, unless another similar rating from another rating agency is being provided pursuant to Section 6.12, in which case such rating shall be substituted for the unavailable rating (with the applicable levels from such rating agency being the equivalent of the levels provided by S&P or Xxxxx’x (as reasonably determined by the Administrative Agent)), and (y) in the event that neither the S&P Rating nor the Xxxxx’x Rating is available, then a Collateral Trigger shall be deemed to have occurred as of such time, unless another similar rating from another rating agency is being provided pursuant to Section 6.12, in which case the rating from such rating agency shall apply (with the applicable levels from such rating agency being the equivalent of the levels provided by S&P or Xxxxx’x (as reasonably determined by the Administrative Agent)) and the determination of a Collateral Trigger shall be made by assuming that such rating substitutes for both the S&P Rating and the Xxxxx’x Rating until such time as either the S&P Rating or the Xxxxx’x Rating, or both, is available.
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Collateral Trigger means the occurrence of the first day on which the rating of the Index Debt is both less than or equal to BB+ by S&P and less than or equal to Ba1 by Xxxxx’x.
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Collateral Trigger means the occurrence of the Consolidated Leverage Ratio being greater than or equal to 3.75:1.00 as of the last day of any Reference Period, calculated on such date as is provided in the definition of Consolidated Leverage Ratio, provided, that (i) during the period from March 31, 2002 through May 30, 2002, the Consolidated Leverage Ratio shall be calculated on the date of any Advance (notwithstanding the definition of Consolidated Leverage Ratio to the contrary) giving pro forma effect to such Advance and (ii) the Collateral Trigger shall not be deemed to have occurred under any circumstances after the occurrence and subsequent termination of the Security Period.
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Related to Collateral Trigger

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

  • Auto-Call Trigger Event means an event which occurs if, in the determination of the Calculation Agent, the Index Performance as of the Valuation Time on an Auto-Call Valuation Date is greater than or equal to the relevant Auto-Call Trigger Level.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Counterparty Downgrade Collateral means any cash and/or securities delivered to the Issuer as collateral for the obligations of a Hedge Counterparty under a Hedge Transaction.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Threshold Event Collateral shall have the meaning assigned to such term in Section 5(g).

  • Ratings Event means (i) a downgrade by one or more gradations (including gradations within ratings categories as well as between rating categories) or withdrawal of the rating of the Notes within the Ratings Decline Period by one or more Rating Agencies (unless the applicable Rating Agency shall have put forth a written statement to the effect that such downgrade or withdrawal is not attributable in whole or in part to the applicable Change of Control) and (ii) the Notes do not have an Investment Grade Rating from any Rating Agency.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Collateral Tax Event means at any time, as a result of the introduction of a new, or any change in, any home jurisdiction or foreign tax statute, treaty, regulation, rule, ruling, practice, procedure or judicial decision or interpretation (whether proposed, temporary or final), interest payments due from the Obligors of any Collateral Debt Obligations in relation to any Due Period becoming properly subject to the imposition of home jurisdiction or foreign withholding tax (other than where such withholding tax is compensated for by a “gross-up” provision in the terms of the Collateral Debt Obligation or such requirement to withhold is eliminated pursuant to a double taxation treaty so that the Issuer as holder thereof is held completely harmless from the full amount of such withholding tax on an after-tax basis) so that the aggregate amount of such withholding tax on all Collateral Debt Obligations in relation to such Due Period is equal to or in excess of 6% of the aggregate interest payments due (for the avoidance of doubt, excluding any additional interest arising as a result of the operation of any gross-up provision) on all Collateral Debt Obligations in relation to such Due Period.

  • Final Trigger Level means 85.00%, being a percentage against which the performance of the Index will be measured in order to determine the Final Redemption Amount.

  • Cumulative Loss Trigger Event If, with respect to any Distribution Date, the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period, divided by (y) the Cut-off Date Pool Principal Balance, exceeds the applicable Cumulative Loss Percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage March 2008 through February 1.400% for the first month, plus an additional 2009 1/12th of 1.750% for each month thereafter (e.g., 2.275% in September 2008) March 2009 through February 3.150% for the first month, plus an additional 2010 1/12th of 1.750% for each month thereafter (e.g., 4.025% in September 2009) March 2010 through February 4.900% for the first month, plus an additional 2011 1/12th of 1.400% for each month thereafter (e.g., 5.600% in September 2010) March 2011 through February 6.300% for the first month, plus an additional 2012 1/12th of 0.750% for each month thereafter (e.g., 6.675% in September 2011) March 2012 and thereafter 7.050%