Effective Date Rating Event definition

Effective Date Rating Event means either (a) (i) the Initial Ratings of the Rated Notes or Combination Notes are downgraded or withdrawn by the Rating Agencies or (ii) either of the Rating Agencies notifies the Issuer or the Investment Manager on behalf of the Issuer that such Rating Agency intends to downgrade or withdraw its Initial Ratings of the Rated Notes or Combination Notes, in each case, upon request for confirmation thereof to the Rating Agencies by the Investment Manager, acting on behalf of the Issuer, following the Effective Date pursuant to the terms of the Investment Management Agreement or (b) the Effective Date Determination Requirements are not satisfied on the Effective Date.
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Effective Date Rating Event means either:
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Effective Date Rating Event means both:
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Examples of Effective Date Rating Event in a sentence

  • If the Target Par Amount has not been reached on the Effective Date an Effective Date Rating Event may occur pursuant to the Conditions which may in certain circumstances lead to an early redemption of the Notes.

  • Mandatory Redemption of the NotesCertain mandatory redemption arrangements may result in an elimination, deferral or reduction in the interest payments or principal repayments made to the Class C Noteholders, the Class D Noteholders, the Class E Noteholders and the Class F Noteholders or the level of the returns to the Subordinated Noteholders, including the breach of any of the Coverage Tests or an Effective Date Rating Event.

  • Further, in connection with the Effective Date, if either Rating Agency has not yet confirmed its initial ratings of the applicable Rated Notes, the applicable Rated Notes will be subject to redemption in part in an amount and in the manner described under Condition 7(e) (Redemption upon Effective Date Rating Event).

  • See Condition 7(c) ( Mandatory Redemption upon Breach of Coverage Tests) and Condition 7(e) (Redemption upon Effective Date Rating Event).

  • See Condition 7(c) (Mandatory Redemption upon Breach of Coverage Tests) and Condition 7(e) (Redemption upon Effective Date Rating Event).

  • In addition, a mandatory redemption of Rated Notes owing to an Effective Date Rating Event could result in the Investment Manager causing the Issuer to liquidate positions more rapidly than would otherwise be desirable, which could adversely affect the realised value of the Collateral Debt Obligations sold.

  • If the Target Par Amount has not been reached on the Effective Date an Effective Date Rating Event will occur which may in certain circumstances lead to an early redemption of the Notes.

  • In addition, a mandatory redemption of Rated Notes owing to an Effective Date Rating Event could result in the Collateral Manager causing the Issuer to liquidate positions more rapidly than would otherwise be desirable, which could adversely affect the realised value of the Collateral Obligations sold.

  • Any failure by the Issuer to acquire such additional Collateral Debt Obligations because of its inability to enter into required additional Hedge Transactions could result in an Effective Date Rating Event or downgrade or withdrawal by a Rating Agency of its Initial Ratings of any Class or Classes of Notes.

  • Certain mandatory redemption arrangements may result in an elimination, deferral or reduction in the interest payments or principal repayments made to the Class C Noteholders, the Class D Noteholders, the Class E Noteholders and the Class F Noteholders or the level of the returns to the Subordinated Noteholders, including the breach of any of the Coverage Tests or an Effective Date Rating Event.


More Definitions of Effective Date Rating Event

Effective Date Rating Event means: (a) the Effective Date Requirements are not satisfied and Rating Agency Confirmation from Fitch has not been received in respect of such failure or (b) the Effective Date Rating Agency Condition is not satisfied and following a request therefor from the Investment Manager after the Effective Date, Rating Agency Confirmation from Fitch is not received; provided that any downgrade or withdrawal of any of the Initial Ratings of the Notes which is not directly related to a request for confirmation thereof or which occurs after confirmation thereof by Fitch shall not constitute an Effective Date Rating Event.
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Effective Date Rating Event means: (a) (i) the Effective Date Requirements are not satisfied and Rating Agency Confirmation has not been received in respect of such failure; and (ii) the Investment Manager does not present a Rating Confirmation Plan to the Rating Agencies or Rating Agency Confirmation is not received in respect of such Rating Confirmation Plan; or (b) the Effective Date Rating Agency Condition is not satisfied and following a request therefor from the Investment Manager after the Effective Date, Rating Agency Confirmation from the Rating Agencies is not received; provided that any downgrade or withdrawal of any of the Initial Ratings of the Notes which is not directly related to a request for confirmation thereof or which occurs after confirmation thereof by the Rating Agencies shall not constitute an Effective Date Rating Event.
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Effective Date Rating Event means the failure to satisfy the Effective Date Requirement on the Effective Date, and, as a result of such failure, (a) the initial ratings of the Senior Notes are not confirmed in writing bythe Rating Agency, or (b) the Rating Agency notifies the Issuer or the Collateral Manager (on behalf of the Issuer) that the Rating Agency intends to downgrade or withdraw its initial ratings of the Senior Notes, provided, for the avoidance of doubt, that if the Effective Date Requirement is satisfied on the Effective Date, an Effective Date Rating Event shall be deemed to have not occurred.
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Effective Date Rating Event means both (a) (i) the Initial Ratings are downgraded or withdrawn by the Rating Agencies or (ii) either or both of the Rating Agencies notifies the Issuer or the Collateral Manager on behalf of the Issuer that such Rating Agency intends to downgrade or withdraw its Initial Ratings, in each case, upon request for confirmation thereof to the Rating Agencies by the Collateral Manager, acting on behalf of the Issuer, within 30 days following the Effective Date pursuant to the terms of the Collateral Management Agreement and (b) the Effective Date Rating Requirements are not satisfied on or following the Effective Date, provided that, if at any time after the occurrence of an Effective Date Rating Event, the Initial Ratings which have been downgraded in relation to an Effective Date Rating Event have been reinstated, any such further downgrade shall not constitute an Effective Date Rating Event.
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Effective Date Rating Event means either (a) the failure of either of the Rating Agencies to provide Rating Agency Confirmation in connection with the Effective Date upon request therefor by the Servicer, acting on behalf of the Issuer, following the Effective Date pursuant to the terms of the Servicing Agreement or (b) the Effective Date Determination Requirements are not satisfied on the Effective Date; provided that no Effective Date Rating Event shall occur if each Rating Agency has provided Rating Agency Confirmation in accordance with clause (a).
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Effective Date Rating Event means either (a)(i) the Initial Ratings of the Senior Notes are downgraded, suspended or withdrawn by S&P directly in relation to the Effective Date or(ii) S&P notifies the Issuer, or the Investment Manager on behalf of the Issuer, that S&P intends to downgrade, suspend or withdraw its Initial Ratings of the Senior Notes upon request for confirmation thereof to S&P by the Investment Manager, acting on behalf of the Issuer, directly in respect of the Effective Date pursuant to the terms of the Investment Management Agreement or (iii) S&P has not provided confirmation of its Initial Ratings of the Senior Notes on or prior to the Effective Date upon request for confirmation thereof by the Investment Manager in connection with the Effective Date (it being understood amongst the parties that S&P will respond to the Investment Manager's request for such Rating Agency Confirmation with respect to the Effective Date within 30 Business Days after receiving all the information which is required by S&P to make its determination in respect thereof) or (b) the Effective Date Requirements are not satisfied on the Effective Date. For the avoidance of doubt, the Investment Manager may, but is not required to, provide a Rating Confirmation Plan if an Effective Date Rating Event occurs and is continuing.
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Related to Effective Date Rating Event

  • Adverse Rating Event With respect to any Class of Rated Certificates and any Rating Agency that has assigned a rating thereto, as of any date of determination, the qualification, downgrade or withdrawal of the rating then assigned to such Class of Rated Certificates by such Rating Agency (or the placement of such Class of Rated Certificates on “negative credit watch” status in contemplation of any such action with respect thereto).

  • 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).

  • Step Up Rating Change means the first public announcement by S&P or, if applicable, any other Rating Agency appointed by or with the consent of Heimstaden Bostad, of a decrease in the credit rating of Heimstaden Bostad's senior unsecured long-term debt to below BBB- (in the case of S&P) or below Baa3 (in the case of Moody's) or below BBB- (in the case of Fitch). For the avoidance of doubt, any further decrease in the credit rating of Heimstaden Bostad's senior unsecured long-term debt below BBB- in the case of S&P or, if applicable, below Baa3 in the case of Moody's or below BBB- in the case of Fitch and in respect of any other Substitute Rating Agency, an equivalent rating or below shall not constitute a further Step Up Rating Change.

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

  • Step Down Rating Change means the first public announcement by S&P and, if applicable, each other Rating Agency appointed by or with the consent of Heimstaden Bostad, after a Step Up Rating Change, that the credit rating of Heimstaden Bostad's senior unsecured long-term debt is at least BBB- in the case of S&P and, if applicable, at least Baa3 in the case of Moody's and at least BBB- in the case of Fitch with the result that, following such public announcement, no Rating Agency assigns a credit rating below the aforementioned levels or any equivalent rating. For the avoidance of doubt, any further increase in the credit rating of Heimstaden Bostad's senior unsecured long-term debt above BBB- in the case of S&P and, if applicable, at least Baa3 in the case of Moody's and at least BBB- in the case of Fitch and in respect of any other Substitute Rating Agency, an equivalent rating or above shall not constitute a further Step Down Rating Change;

  • 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.

  • Make-Whole Fundamental Change Effective Date means (A) with respect to a Make-Whole Fundamental Change pursuant to clause (A) of the definition thereof, the date on which such Make-Whole Fundamental Change occurs or becomes effective; and (B) with respect to a Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof, the applicable Redemption Notice Date.

  • Tube rating chart means the set of curves which specify the rated limits of operation of the tube in terms of the technique factors.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • 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”.

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Reduction Event means any of the following:

  • Rating Date means the date which is 90 days prior to the earlier of (i) a Change of Control and (ii) the first public notice of the occurrence of a Change of Control or of the intention by the Company to effect a Change of Control.

  • 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.

  • Subsequent Triggering Event means either of the following events or transactions occurring after the date hereof:

  • Applicable Rating Level at any time shall be determined in accordance with the then-applicable S&P Rating or the then-applicable Xxxxx’x Rating as follows: S&P Rating/Xxxxx’x Rating Applicable Rating Level S&P Rating AA or higher or Xxxxx’x Rating Aa2 or higher 1 S&P Rating AA- or Xxxxx’x Rating Aa3 2 S&P Rating A+ or Xxxxx’x Rating A1 3 S&P Rating A or Xxxxx’x Rating A2 4 S&P Rating A- or below or Xxxxx’x Rating A3 or below or unrated 5 The Applicable Rating Level for any day shall be determined based upon the higher of the S&P Rating and the Xxxxx’x Rating in effect on such day. If the S&P Rating and the Xxxxx’x Rating are not the same (i.e., a “split rating”), the higher (better) of such ratings shall control, unless the ratings differ by more than one level, in which case the rating one level below the higher of the two ratings shall control.

  • Fundamental Change Effective Date means the date on which any Fundamental Change becomes effective.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Change of Control Effective Date means the first date during the Change of Control Period (as defined in Section 7.2) on which a Change of Control occurs. Notwithstanding anything in this Agreement to the contrary, if a Change of Control occurs and if the Executive’s employment with the Company (or applicable affiliated company) is terminated prior to the date on which the Change of Control occurs, and if it is reasonably demonstrated by the Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change of Control or (ii) otherwise arose in connection with or anticipation of a Change of Control, then for all purposes of this Agreement the “Change of Control Effective Date” shall mean the date immediately prior to the date of such termination of employment.

  • Commitment Termination Event means (a) the occurrence of any Event of Default described in clauses (a) through (d) of Section 8.1.9, or (b) the occurrence and continuance of any other Event of Default and either (i) the declaration of the Loans to be due and payable pursuant to Section 8.3, or (ii) in the absence of such declaration, the giving of notice to the Borrower by the Administrative Agent, acting at the direction of the Required Lenders, that the Commitments have been terminated.

  • Repricing Event means (a) any prepayment, repayment, refinancing, substitution or replacement of all or a portion of the 2015 Term Loans with the proceeds of, or any conversion of 2015 Term Loans into, any new or replacement Class of, or new facility of, syndicated term loans by the Borrower in the principal amount of the 2015 Term Loans prepaid, repaid, refinanced, substituted, replaced or converted and secured by the Collateral (including Replacement Term Loans or other term loans under this Agreement) having an “effective yield,” determined by the Administrative Agent in consultation with the Borrower (taking into account interest rate margin and benchmark floors, recurring fees and all upfront or similar fees or original issue discount (amortized over four years) paid to the lenders providing such Indebtedness, but excluding any arrangement, structuring, syndication or other fees payable in connection therewith that are not shared ratably with all lenders or holders of such term loans in their capacities as lenders or holders of such term loans), less than the “effective yield” applicable to the 2015 Term Loans being prepaid, repaid, refinanced, substituted, replaced or converted (determined on the same basis as provided in the preceding parenthetical) and (b) any amendment to this Agreement (including pursuant to a Replacement Term Loan or other term loans under this Agreement) to the 2015 Term Loans or any tranche thereof which reduces the “effective yield” applicable to such 2015 Term Loans (as determined on the same basis as provided in clause (a)), in each case only if the primary purpose of such prepayment, repayment, substitution, replacement or amendment was to reduce the “effective yield” applicable to such 2015 Term Loans.

  • Change of Control Put Period means the period of 45 days after a Change of Control Put Event Notice is given;

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Rating Agency Event means that any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the Exchange Act that then publishes a rating for the Company (a “rating agency”) amends, clarifies or changes the criteria it uses to assign equity credit to securities such as the Notes, which amendment, clarification or change results in:

  • 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.