Credit Rating Event is amended by replacing the reference “Paragraph 6(a)(iii)” with “Paragraph 6(a)(ii)”.
Credit Rating Event means the first time after the Closing Date on which the Index Debt is rated A- or higher by S&P and A3 or higher by Xxxxx’x, in each case with a stable outlook or better.
Credit Rating Event has the meaning set forth in Section 10.9(a).
Examples of Credit Rating Event in a sentence
Notwithstanding the foregoing, once the Credit Rating Event occurs, the Borrower shall not thereafter be required to comply with the financial covenant in this Section, regardless of the Ratings.
There shall not have occurred and be continuing a Credit Rating Event.
The Downgraded Members each agree to give written notice to the Buy-Out Members within five (5) days of any Credit Rating Event.
Notwithstanding anything above or in the Notes to the contrary, upon the occurrence and during the continuance of a Credit Rating Event interest shall accrue and be payable on the Notes at a rate that is 0.50% per annum above the rate of interest that would otherwise be applicable to the Notes pursuant to the first paragraph thereof.
If an Equity Credit Rating Event has occurred, then the Issuer may, at its option, subject to having given not less than thirty (30) nor more than sixty (60) calendar days' notice to the Fiscal Agent and, in accordance with Condition 10, the Bondholders (which notice shall be irrevocable), redeem all, but not some only, of the Bonds at any time, at (i) 101 per cent.
More Definitions of Credit Rating Event
Credit Rating Event as of any date after the date hereof, Guarantor’s senior unsecured long-term indebtedness ceases to be rated at least the Requisite Rating by at least two of Standard & Poor’s, Fitch or Xxxxx’x Investor Service, Inc., with the “Requisite Rating” being “A” in the case of Standard & Poor’s and Fitch and “A1” in the case of Xxxxx’x Investor Service, Inc.
Credit Rating Event means that Parent would cease to be rated Investment Grade by at least two of the three Rating Agencies on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by Parent of such acquisition (or execution of an agreement providing for such acquisition) and ending 60 days following consummation of such acquisition (which Trigger Period will be extended following consummation of such acquisition for so long as any of the Rating Agencies has publicly announced that it is considering a possible ratings change). Unless at least two of the three Rating Agencies are providing a rating for Parent, Parent will be deemed to have ceased to be rated Investment Grade by at least two of the three Rating Agencies during that Trigger Period. For purposes of this Agreement, (i) “Fitch” means Fitch Ratings, Inc., and its successors; (ii) “Investment Grade” means a rating of Baa3 or better by Xxxxx’x (or its equivalent under any successor rating category of Xxxxx’x), a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), and a rating of BBB- or better by Fitch (or its equivalent under any successor rating category of Fitch); “Xxxxx’x” means Xxxxx’x Investors Service, Inc., a subsidiary of Xxxxx’x Corporation, and its successors; “Rating Agency” means each of Xxxxx’x, S&P and Fitch; provided, that if any of Xxxxx’x, S&P and Fitch ceases to provide rating services to issuers or investors, Parent may appoint another “nationally recognized statistical rating organization” as such term is defined in Section 3(a)(62) of the Exchange Act as a replacement for such Rating Agency; provided, further, that Parent shall give notice of such appointment to the Company; and “S&P” means Standard & Poor’s Ratings Services, a division of McGraw Hill Financial, and its successors.
Credit Rating Event shall have the meaning attributed to it in Paragraph 6(a)(iv)(A).
Credit Rating Event means that Parent would cease to be rated Investment Grade by at least two of the three Rating Agencies on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by Parent of such acquisition (or execution of an agreement providing for such acquisition) and ending 60 days following consummation of such acquisition (which Trigger Period will be extended following consummation of such acquisition for so long as any of the Rating Agencies has publicly announced that it is considering a possible ratings change). Unless at least two of the three Rating Agencies are providing a rating for Parent, Parent will be deemed to have ceased to be rated Investment Grade by at least two of the three Rating Agencies during that Trigger Period. For purposes of this Agreement, (i) “Fitch” means Fitch Ratings, Inc., and its successors; (ii) “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating category of Moody’s), a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), and a rating of BBB- or better by Fitch (or its equivalent under any successor rating category of Fitch); “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors; “Rating Agency” means each of Moody’s, S&P and Fitch; provided, that if any of Moody’s, S&P and Fitch ceases to provide rating services to issuers or investors, Parent may appoint another “nationally recognized statistical rating organization” as such term is defined in Section 3(a)(62) of the Exchange Act as a replacement for such Rating Agency; provided, further, that Parent shall give notice of such appointment to the Company; and “S&P” means Standard & Poor’s Ratings Services, a division of McGraw Hill Financial, and its successors.
Credit Rating Event means the receipt by VRI, in connection with an issuance of Subordinated Debt, of an implied rating (which assumes a rating two levels above the actual rating for such Subordinated Debt) of its senior indebtedness with an original maturity in excess of one year of BB+ or better from S&P or of Ba1 or better from Xxxxx'x.
Credit Rating Event is an event that shall have occurred and shall be continuing at any time that (i) the rating of the Company’s senior unsecured long-term debt shall be below BBB- (in the case of S&P) or Baa3 (in the case of Mxxxx’x) or (ii) either S&P or Mxxxx’x shall fail to have in effect a rating of the Company’s senior unsecured long-term debt.
Credit Rating Event means, at any time, if at such time any outstanding Opco Debt is rated below the Credit Rating Threshold;