Downgrade Trigger definition

Downgrade Trigger. As of the last day of any monthly period, the percentage of Accounts of Dealers located in the United States rated “programmed” or “no credit” as of the end of the most recent monthly period exceeds [●]%. For purposes of clause (a) of this definition, the percentage of Accounts of Dealers located in the United States rated “programmed” or “no credit” as of the end of any monthly period shall be equal to (a) the aggregate outstanding principal balance of receivables in such Accounts that were rated “programmed” or “no credit” as of the last day of that monthly period divided by (b) the aggregate outstanding principal balance of all receivables in such Accounts as of the last day of that monthly period.
Sample 1
Downgrade Trigger means that the Borrower's corporate senior bond rating has been lowered or downgraded to a rating below BB+ as indicated by S&P or below Ba1 as indicated by Moodx'x.
Sample 1
Downgrade Trigger means a downgrade or withdrawal of the long term unsecured debt rating of Microsoft below “AA” by S&P; provided, however, a Downgrade Trigger shall not have occurred in the event of a withdrawal by S&P of the long term unsecured debt rating of Microsoft if Xxxxx’x or Fitch maintains a long term unsecured debt rating of Microsoft comparable to an S&P rating of “AA”.
Sample 1

Examples of Downgrade Trigger in a sentence

  • Downgrade Trigger: As of the last day of any monthly period, the percentage of Accounts of Dealers located in the United States rated “programmed” or “no credit” as of the end of the most recent monthly period exceeds 13.85%.

  • In the event that a Downgrade Trigger shall have occurred, the Borrower shall promptly cause the Servicer to establish a blocked account exclusively for the receipt of proceeds of the Collateral and shall promptly execute and deliver to the Lender a fully executed Blocked Account Agreement in the form of Exhibit G hereto.

  • Each of the Investment Agreements that the City of Chino or its Redevelopment Agency (or Wells Fargo Bank acting as a Trustee Bank on behalf of the City) has entered into carries a Credit Rating Downgrade Trigger which is intended to protect the City or Agency against the deterioration of the credit rating of the Investment Agreement Provider.

  • For as long as no Downgrade Trigger Event, Notice of Asset Default, Notice to Pay or CBC Acceleration Notice has been served on the CBC, the CBC will not receive any proceeds arising out of the Transferred RMBS Notes but instead instruct the Custodian to distribute such proceeds on its behalf to the Transferors or such other entity as designated by the Transferors.

  • However, the synthesis methods are either experimentally complicated or in two steps through the transformation of MOF-1.

  • The Indenture Trustee will notify the Series 201[•]-[•] Noteholders and Series 201[•]-[•] Note Owners shall be permitted to vote for at least [150] days after the filing of the Monthly Statement indicating that the Downgrade Trigger has been met or exceeded, and the Series 201[•]-[•] Noteholders and Series 201[•]-[•]Note Owners shall be permitted to vote for at least 150 days after such filing.

  • Notwithstanding the preceding paragraph, if a Downgrade Trigger (as defined below) occurs during the Lockout Period, the Holder shall have the right to sell immediately all or any portion of the Exchange Notes that are subject to the restrictions on sale pursuant to the preceding paragraph, provided that any such sale is in compliance with Section 5(b) and 5(c) hereof.

  • While each Investment Agreement may have differing specifications with respect to the Credit Ratings Downgrade Trigger, the basic arrangement is that if the Investment Agreement Provider credit rating falls below a certain level, it triggers one of several possible actions aimed at curbing or strengthening the ratings decline.


More Definitions of Downgrade Trigger

Downgrade Trigger means, for any Downgrade Tenant, a downgrade or withdrawal of two (2) or more notch levels in one or more steps from the ratings levels as of the date hereof (as more particularly set forth on Schedule VII attached hereto) of the long term unsecured debt rating of such Downgrade Tenant by S&P (for instance, if Home Depot is downgraded by S&P from BBB+ to BBB-); provided, however, a Downgrade Trigger shall not have occurred in the event of a withdrawal by S&P of the long term unsecured debt rating of such Downgrade Tenant if Moody’s or Fitch maintains a long term unsecured debt rating of such Tenant and such rating has not been downgraded by two (2) or more notch levels in one or more steps from the ratings levels published by such Rating Agency as of the date hereof.
Sample 1
Downgrade Trigger means the downgrading of the Parent's long-term unsecured, unsubordinated indebtedness to BB- by S&P or to Ba3 by Xxxxx'x.
Sample 1

Related to Downgrade Trigger

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • Ratings Trigger Event has the meaning set forth in Section 3.14 of the Sale and Servicing Agreement.

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

  • 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.

  • 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.

  • Ratings Event means 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 two or more Rating Agencies (unless the applicable Rating Agency shall have put forth a written statement to the effect that such downgrade is not attributable in whole or in part to the applicable Change of Control) following which (except in the case of a withdrawal of a rating) the rating of the Notes by each such Rating Agency is below such Rating Agency’s rating of the Notes on the Issue Date.

  • 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”.

  • 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”.

  • Downgrade means the removal of a person's privilege to operate a commercial motor vehicle, as

  • Rating Downgrade means either:

  • 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.

  • Investment Grade Rating Event means the first day on which the Notes have an Investment Grade Rating from each Rating Agency, and no Default has occurred and is then continuing under this Indenture.

  • 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.

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • 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.

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

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody's Second Trigger Ratings Threshold.

  • Investment Grade Rating Date means the date on which the Borrower first obtains an Investment Grade Rating.

  • Ratings Decline means the occurrence of the following on, or within 90 days after, the date of the public notice of the occurrence of a Change of Control or of the intention by the Company or any third-party to effect a Change of Control (which period shall be extended for so long as the rating of the securities is under publicly announced consideration for possible downgrade by any of the Ratings Agencies if such period exceeds 90 days): (1) in the event that the Securities have an Investment Grade Rating by all three Ratings Agencies, the Securities cease to have an Investment Grade Rating by two of the three Rating Agencies, (2) in the event that the Securities have an Investment Grade Rating by only two Ratings Agencies, the Securities cease to have an Investment Grade Rating by both such Rating Agencies, or (3) in the event that the Securities do not have an Investment Grade Rating, the rating of the Securities by two of the three Ratings Agencies (or if there are less than three Rating Agencies rating the securities, the rating of each Rating Agency) decreases by one or more gradations (including gradations within ratings categories as well as between rating categories) or is withdrawn.

  • 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%.

  • Investment Grade Status shall occur when the Notes receive two of the following:

  • Investment Grade Certificate As of any date of determination, a Certificate that is rated in one of the four highest generic rating categories by at least one Rating Agency that is defined as a “Rating Agency” under Section III of the Exemption.

  • 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.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Ratings Spread means, with respect to an SRP Calculation Period, the percentage per annum set forth below opposite the highest applicable credit rating assigned to the VRDP Shares, unless the lowest applicable rating is below A3/A-, in which case the Ratings Spread shall mean the percentage per annum set forth below opposite the lowest applicable credit rating assigned to the VRDP Shares by Moody’s, Fitch or any Other Rating Agency, in each case rating the VRDP Shares at the request of the Fund, on the SRP Calculation Date for such SRP Calculation Period:

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of “BBB+”.