Equity Credit Rating Event definition

Equity Credit Rating Event means that a Rating Agency which has assigned solicited ratings to the Issuer either directly or via publication by such Rating Agency has confirmed to the Issuer in writing that an amendment, clarification or change in the “equity credit” criteria of any such Rating Agency (or the interpretation thereof) has occurred after the Issue Date, which amendment, clarification change or interpretation, results in the Euro 10 Year Non-Call Notes being assigned a level of equity credit that is lower than the level or equivalent level of equity credit assigned to the Euro 10 Year Non-Call Notes by such Rating Agency on the Issue Date, or if such equity credit was not assigned on the Issue Date, at the date when the equity credit was assigned for the first time.
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Equity Credit Rating Event means that the Issuer has received written confirmation from any Rating Agency from whom the Issuer is assigned solicited ratings either directly or via a publication by such agency, that an amendment, clarification or change has occurred in the "equity credit" criteria (or such other nomenclature that the relevant Rating Agency may then use to describe the degree to which an investment exhibits the characteristics of an ordinary share) of such Rating Agency or the application thereof, effective after 28 October 2019 (or Early Redemption following a Substantial Repurchase Event Early Redemption following a Change of Control Call Eventeffective after the date when the equity credit is assigned for the first time, as applicable), which amendment, clarification or change or the application thereof results in a lower equity credit for all or some of the Bonds than the then respective equity credit assigned on 28 October 2019, or if equity credit is not assigned on 28 October 2019, at the date when the equity credit is assigned for the first time.If a Substantial Repurchase Event shall occur after the Issue Date, the Issuer may at its option, at any time, redeem all, but not some only, of the Bonds at 100% of their principal amount.
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Equity Credit Rating Event means that the Issuer has received written confirmation from any Rating Agency from whom the Issuer is assigned solicited ratings either directly or via a publication by such agency, that an amendment, clarification or change has occurred in the equity credit criteria of such Rating Agency (as defined below) effective after 29 January 2019 (or effective after the date when the equity credit is assigned for the first time, as applicable), which amendment, clarification or change results in a lower equity credit for the Bonds than the then respective equity credit assigned on 29 January 2019, or if equity credit is not assigned on 29 January 2019, at the date when the equity credit is assigned for the first time.
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Examples of Equity Credit Rating Event in a sentence

  • The Trustee shall be entitled, without liability to any person, to accept such certification and, in the case of a Tax Event, opinion as sufficient evidence that a Tax Event or an Equity Credit Rating Event (as the case may be) has occurred, in which event it shall be conclusive and binding on the Holders.

  • 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.

  • The Trustee shall be entitled, without liability to any person, to accept such certification and, in the case of a Tax Event, opinion as sufficient evidence that a Tax Event or an Equity Credit Rating Event (as the case may be) has occurred, in which event it shall be conclusive and binding on the Noteholders.

  • Notwithstanding any other provision of this Condition 5.3, no Successor Rate or Alternative Rate will be adopted, nor will the applicable Adjustment Spread be applied, nor will any Benchmark Amendments be made, if and to the extent that, in the determination of the Issuer, the same could reasonably be expected to cause an Equity Credit Rating Event to occur.

  • This is one of the issues that are of concern to the people and that we seek to resolve this morning.


More Definitions of Equity Credit Rating Event

Equity Credit Rating Event means that the Issuer certifies in a notice signed by a senior authorised representative of the Issuer to the Noteholders that, due to any amendment, clarification or change in the hybrid capital methodology or a change in the interpretation thereof by any Rating Agency which has assigned solicited ratings to the Issuer, in each case occurring or becoming effective after the Issue Date (i) all or any of the relevant Notes will no longer be eligible (or if the Notes have been partially or fully refinanced since the Issue Date and are no longer eligible for “equity credit” from such Rating Agency in part or in full as a result, all or any of the Notes that would no longer have been eligible as a result of such amendment, clarification, change in hybrid capital methodology or change in the interpretation had they not been re-financed) for the same or a higher amount of “equity credit” (or such other nomenclature that the relevant Rating Agency may then use to describe the degree to which an instrument exhibits the characteristics of an ordinary share) attributed to the relevant Notes at the Issue Date (or, if “equity credit” is not assigned to the Notes by the relevant Rating Agency on the Issue Date, at the date on which “equity credit” is assigned by such Rating Agency for the first time) or (ii) if the period of time during which the Notes are eligible for the same or a higher amount of “equity credit” attributed to the Notes at the Issue Date (or at the date on which “equity credit” is assigned by such Rating Agency for the first time, as the case may be) is being shortened.
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Equity Credit Rating Event means that the Issuer certifies in a notice to the Noteholders that an amendment, clarification or change in the “equity credit” criteria (or such other nomenclature that the relevant Rating Agency may then use to describe the degree to which an investment exhibits the characteristics of an ordinary share) of a Rating Agency (or the application or interpretation thereof), which amendment, clarification or change has occurred or became effective after the Issue Date, results in (a) all or any of the Notes being assigned a level of “equity credit” that is lower than the level or equivalent level of “equity credit” (or if the Notes have been partially or fully refinanced since the Issue Date and are no longer eligible for “equity credit” from a Rating Agency in part or in full as a result, all or any of the Notes that would be assigned a level of “equity credit” that is lower than the level or equivalent level of “equity credit” as a result of such amendment, clarification or change in the “equity credit” criteria (or the application thereof) had they not been refinanced) assigned to the Notes by a Rating Agency on the Issue Date, or if such equity credit was not assigned on the Issue Date, at the date when the equity credit was assigned for the first time or (b) the period of time during which a Rating Agency assigned to the Notes a particular level of “equity credit” being shortened as compared to the period of time for which a Rating Agency did assigned to the Notes that level of “equity credit” on the Issue Date, or if such “equity credit” was not assigned on the Issue Date, at the date when the “equity credit” was assigned for the first time.
Sample 1
Equity Credit Rating Event means that the Issuer has received written confirmation from any Rating Agency from whom the Issuer is assigned solicited ratings either directly or via a publication by such agency, that an amendment, clarification or change has occurred in the "equity credit" criteria (or such other nomenclature that the relevant Rating Agency may then use to describe the degree to which an investment exhibits the characteristics of an ordinary share) of such Rating Agency (as defined below) or the application thereof, effective after the Issue Date (or effective after the date when the equity credit is assigned for the first time, as applicable), which amendment, clarification or change or the application thereof results in (a) a lower equity credit for the Bonds than the then respective equity credit assigned on the Issue Date, or if equity credit is not assigned on the Issue Date, at the date when the equity credit is assigned for the first time or (b) the period of time during which the relevant Rating Agency has assigned to the Bonds a particular level of "equity credit" being shortened as compared to the period of time for which such Rating Agency did assign to the Bonds that level of "equity credit" on the Issue Date, or if such "equity credit" was not assigned on the Issue Date, at the date when the "equity credit" was assigned for the first time.
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Related to Equity Credit Rating Event

  • Acceptable Credit Rating means a minimum long term credit rating of either BBB from Standard & Poors or Baa2 from Xxxxx’x; Access Undertaking means:

  • Investment Grade Credit Rating means (i) a Credit Rating of Baa3 or higher given by Xxxxx’x, (ii) a Credit Rating of BBB- or higher given by S&P or (iii) a Credit Rating of BBB- or higher given by Fitch.

  • 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.

  • Debt Rating has the meaning specified in the definition of “Applicable Rate.”