Initial S&P Note Downgrade Event definition

Initial S&P Note Downgrade Event will occur where:
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Examples of Initial S&P Note Downgrade Event in a sentence

  • If Party A does not take any of the measures described in sub-paragraphs (i) or (ii) above such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A and shall be deemed to have occurred on the 30th day following the Initial S&P Note Downgrade Event or Subsequent S&P Note Downgrade Event, as applicable, with Party A as the sole Affected Party and all Transactions shall be Affected Transactions.

  • If Party A does not take any of the measures described in sub-paragraphs (k)(i) or (k)(ii) above such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A and shall be deemed to have occurred on the 30th day following the Initial S&P Note Downgrade Event or the [5th] day following the Subsequent S&P Note Downgrade Event, as applicable, with Party A as the sole Affected Party and all Transactions shall be Affected Transactions.

  • If Party A does not take any of the measures described in sub-paragraphs [(k)(i)] or [(k)(ii)] above such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A and shall be deemed to have occurred on the thirtieth day following the Initial S&P Note Downgrade Event or Subsequent S&P Note Downgrade Event, as applicable, with Party A as the sole Affected Party.

  • If Party A does not take any of the measures described in Part 5(k)(i) above such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A and shall be deemed to have occurred on the 30th day following the Initial S&P Note Downgrade Event with Party A as the sole Affected Party and all Transactions shall be Affected Transactions.

  • If Party A does not take any of the measures described in sub-paragraphs (j)(i) or (j)(ii) above such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A and shall be deemed to have occurred on the thirtieth day following the Initial S&P Note Downgrade Event or Subsequent S&P Note Downgrade Event, as applicable, with Party A as the sole Affected Party.

  • If Party A does not take any of the measures described in sub-paragraphs (A)(i) or (A)(ii) above such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A and shall be deemed to have occurred on the thirtieth day following the Initial S&P Note Downgrade Event or the tenth day following the Subsequent S&P Note Downgrade Event, as applicable, with Party A as the sole Affected Party.

Related to Initial S&P Note Downgrade Event

  • 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.

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

  • 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.

  • 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.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • 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).

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Liquidity Event of Default means the occurrence of either (a) the Acceleration of all of the Equipment Notes or (b) an American Bankruptcy Event.

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time short-term debt ratings in one of the two highest rating categories from the Requisite NRSROs.

  • Book-Down Event means an event that triggers a negative adjustment to the Capital Accounts of the Partners pursuant to Section 5.5(d).

  • Downgrade Advance means an Advance made pursuant to Section 2.02(c).

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

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

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

  • Unapplied Downgrade Advance means any Downgrade Advance other than an Applied Downgrade Advance.

  • 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.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • 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.

  • Applied Downgrade Advance has the meaning assigned to such term in Section 2.06(a).

  • Companion Loan Rating Agency Declination As defined in the definition of “Companion Loan Rating Agency Confirmation” in this Agreement.

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

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