Downgrade Period definition

Downgrade Period has the meaning given to such term in the Initial Liquidity Facility.

Downgrade Period has the meaning specified in Section 2.02(c).

Downgrade Period means the period from and after the date as of which the Rating Agency shall have reduced its rating of the Variable Base Certificates to below A- or withdrawn its rating thereof, to the date on which the Rating Agency shall maintain a rating of the Variable Base Certificates of A- or above.

Examples of Downgrade Period in a sentence

• Interest shall accrue on the VBC Invested Amount from the date of issuance to and including the last day of the first Interest Period and, during each Interest Period thereafter, at the rate of the greater of (i) LIBOR + 2.75% per annum (or if LIBOR cannot be determined as described in the Series 2000-1 Supplement, at the Base Rate plus 2.75% per annum) or (ii) 5.00% per annum, plus, during any Downgrade Period, an additional 0.50% per annum.

• Downgrade Fee: Should Customer downgrade services from the Minimum Commitment listed above for convenience, Customer shall promptly pay the following downgrade fee: Downgrade Period Downgrade Fee Years 1-5,Renewal Term [***] ([***]) percent of the Monthly Fee for the affected Service multiplied by the number of remaining months under this Agreement.

More Definitions of Downgrade Period

Downgrade Period means any period during which the Borrower’s Corporate Rating is (a) BB- or worse by S&P and Ba3 or worse by Xxxxx’x or (b) B+ or worse by S&P or B1 or worse by Xxxxx’x.

Downgrade Period means any period of time on and after the occurrence of a Downgrade Event during which the long-term rating on the Bonds or any other long-term debt reflecting an unsecured general obligation of the Institution is below AA- by Standard & Poor's or is below Aa3 by Moody's which Downgrade Period shall end on the date that the Trustee and the Authority have been notified in writing that such ratings are at or above AA- by Standard & Poor's and Aa3 by Moody's.

Downgrade Period has the meaning specified in Section 2.02(c). 5 [**] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. Confidential Treatment Requested: Information for which confidential treatment has been requested is omitted and is noted with asterisks. An unredacted version of this document has been filed separately with the Securities and Exchange Commission.

Downgrade Period means the period during which (1) if the Notes have been rated by only two (2) Rating Agencies, at least one Rating Agency has rated the Notes below Investment Grade or (2) if the Notes have been rated by all of the Rating Agencies, at least two (2) Rating Agencies have rated the Notes below Investment Grade.

Downgrade Period means any period during the continuance of which (i) if Tenant’s commercial paper, short-term debt obligations or other short-term deposits and long-term senior unsecured debt obligations are rated by each of Xxxxx’x, Fitch and S&P, at least two of such rating agencies do not rate Tenant as Investment Grade, or (ii) if Tenant’s commercial paper, short-term debt obligations or other short-term deposits and long-term senior unsecured debt obligations are rated by one or two of Xxxxx’x, Fitch and S&P, at least one such rating agency does not rate Tenant as Investment Grade. For the avoidance of doubt, a Downgrade Period shall not exist at such times when none of Tenant’s commercial paper, short-term debt obligations and other short-term deposits, and long-term senior unsecured debt obligations are rated by any of Moody’s, Fitch or S&P.