Examples of Downgrade Date in a sentence
Each Company shall, at the sole expense of U.S. Borrower, take any action and execute all documents and instruments necessary or desirable to reattach Liens on Collateral of at least equal value as the Collateral released after a Rating Date, in each case as promptly as practicable but in no event later than 90 days after such Downgrade Date.
Such release shall no longer be permitted if any Downgrade Date occurs, and the Borrower shall, at its sole expense, take any action and execute all documents and instruments necessary or desirable to reattach Liens on 65% of the stock of Direct Foreign Subsidiaries released after a Rating Date, in each case as promptly as practicable but in no event later than 60 days after such Downgrade Date.
Termination Date: In relation to each Transaction, the earliest of (i) the ScheduledTermination Date, (ii) the date on which the Aggregate Outstanding Principal Amount of the Securities equals (or will, upon redemption, equal) zero, (iii) the Removal Date and (iv) the Reference Security Rating Downgrade Date (if any) in respect of the related Reference Security, subject to provisions set out in this Confirmation.
Paragraph 1 (General Terms) (as amended by this Paragraph 10) shall apply to each Non-TRS Transaction, provided that (a) sub-paragraphs (iv) to (v) (inclusive) of the definition of "Termination Date" shall be deemed to be deleted, (b) the definition of "Reference Securities" shall be deemed to be deleted, (c) the definition of "Reference Security Rating Downgrade Date" shall be deemed to be deleted and (d) the definition of "Reference Security Rating Downgrade Event" shall be deemed to be deleted.
In such event, Xcel shall issue a press release stating the specifics of its Xcel Downgrade Election no later than five Business Days after the Downgrade Date.