Initial Step Up Event definition

Initial Step Up Event means that the Notes have not been publicly assigned an Investment Grade credit rating by at least two of the Rating Agencies or have been publicly assigned a Non-Investment Grade rating by any Rating Agency as at the First Interest Payment Date;
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Examples of Initial Step Up Event in a sentence

  • Any Rate Adjustment shall apply in respect of the Interest Period commencing on the Interest Payment Date immediately following the date of the relevant Step Up Event or Step Down Event or, in the case of an Initial Step Up Event, on the Issue Date, as the case may be, until either a further Rate Adjustment becomes effective or to the date on which the Bonds cease to bear interest, as the case may be.

  • Any Rate Adjustment shall apply in respect of the Interest Period commencing on the Interest Payment Date immediately following the date of the relevant Step Up Event or Step Down Event or, in the case of an Initial Step Up Event, on the Issue Date, until the date on which either a further Rate Adjustment becomes effective or the Bonds cease to bear interest, as the case may be.

  • However, the Company’s Board is already conscious of the need to operate in a market that is becoming increasingly regionalised.

Related to Initial Step Up Event

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

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

  • Flip-Over Event means any event described in clause (x), (y) or (z) of Section 13(a) hereof.

  • Distribution Event means any insolvency, bankruptcy, receivership, liquidation, reorganization or similar proceeding (whether voluntary or involuntary) relating to the Company or its property, or any proceeding for voluntary or involuntary liquidation, dissolution or other winding up of the Company, whether or not involving insolvency or bankruptcy.

  • Term SOFR Transition Event means the determination by the Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance with Section 2.14 that is not Term SOFR.

  • Knock-out Event means the event as defined in §4(4).

  • Initial Distribution Date means the date occurring as soon as reasonably practicable after the Effective Date when distributions under the Plan shall commence.

  • Application Event means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(ii) of the Agreement.

  • Early Dissolution Event has the meaning specified in Section 9.2.

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

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

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

  • Dissolution Event has the meaning set forth in Section 6.1.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Tax Event Repayment Date means the date set out in a notice from the Issuer to the Bondholders pursuant to Clause 10.4 (Early redemption option due to a tax event).

  • Class A-1 Final Scheduled Distribution Date means the Distribution Date.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Final Scheduled Distribution Date means with respect to (i) the Class A-1 Notes, the February 8, 2017 Distribution Date, (ii) the Class A-2-A Notes, the June 10, 2019 Distribution Date, (iii) the Class A-2-B Notes, the June 10, 2019 Distribution Date, (iv) the Class A-3 Notes, the October 8, 2020 Distribution Date, (v) the Class B Notes, the March 8, 2021 Distribution Date, (vi) the Class C Notes, the January 10, 2022 Distribution Date, (vii) the Class D Notes, the February 8, 2022 Distribution Date and (viii) the Class E Notes, the September 8, 2023 Distribution Date.

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

  • SOFR Index Cessation Event means the occurrence of one or more of the following events:

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

  • €STR Index Cessation Event means the occurrence of one or more of the following events:

  • Step-Up Date The first Distribution Date following the first Distribution Date on which the aggregate unpaid principal balance of the Mortgage Loans, and properties acquired in respect thereof, remaining in the Trust Fund has been reduced to less than or equal to 10% of the Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

  • Class A-4 Final Scheduled Distribution Date means January 17, 2023.