Interest Rate Adjustment Event means the occurrence of any of the following:
Interest Rate Adjustment Event means any Interest Payment Date on which the Current Market Price exceeds the product of the Conversion Price and the Factor.
Interest Rate Adjustment Event means (i) the Notes are downgraded below Investment Grade by an NRSRO or (ii) the Notes no longer maintain a rating from an NRSRO.
Examples of Interest Rate Adjustment Event in a sentence
As of the date of an Interest Rate Adjustment Event to and until such date that an Interest Rate Adjustment Event is no longer continuing, the Notes will bear interest at the Adjusted Interest Rate.
More Definitions of Interest Rate Adjustment Event
Interest Rate Adjustment Event shall have the meaning provided in Section 1.07(c).
Interest Rate Adjustment Event means (i) the Notes are downgraded below Investment Grade by the Rating Agency or (ii) the Notes no longer maintain a rating from the Rating Agency.
Interest Rate Adjustment Event shall occur if on any day the notes have either a Non-IG Rating (as defined below) or no rating from any NRSRO. A “Non-IG Rating” will occur if as of any day: • assuming the notes are rated by only one NRSRO, the then most recent rating from such NRSRO is BB+ or lower; • assuming the notes are rated by only two NRSROs, the then lower of the most recent ratings from such NRSROs is BB+ or lower; or • assuming the notes are rated by three or more NRSROs, the then second lowest of the most recent ratings from such NRSROs is a BB+ or lower. The ratings categories referred to in the preceding definitions are those used by Exxx-Xxxxx Ratings Company but are deemed to refer also to the equivalent ratings of any other NRSRO.
Interest Rate Adjustment Event has the meaning specified in Section 2.04(d) hereof.