Investment Grade Date definition

Investment Grade Date means the first day when the Debt Rating is BBB (stable outlook) or higher by S&P and Baa2 (stable outlook) or higher by Moody's.

Investment Grade Date means the first date on which one of the Rating Agencies maintains an Investment Grade Rating and the other Rating Agency maintains a rating equal to or more favorable than BB+ (stable) or Ba1 (stable), as applicable.

Investment Grade Date means the first date occurring after the Closing Date upon which the Borrower receives: (i) a Debt Rating of BBB- or better from S&P or Baa3 or better from Moody’s, and (ii) a second Debt Rating of BB+ or better from S&P or Ba1 or better from Moody’s, as applicable, in each case, without negative outlook or negative watch.

Examples of Investment Grade Date in a sentence

• As of the last day of each fiscal quarter of the Borrower, the Consolidated Leverage Ratio will not exceed 3.5 to 1.0. From and after the Investment Grade Date, this Section 7.11(b) shall cease to apply.

• Prior to the Investment Grade Date, it will not, and will not permit any of its subsidiaries or Joint Ventures to, enter into any Hedging Agreement, except for Hedging Agreements that are for the sole purpose of hedging in the normal course of business consistent with industry practices and not for speculative purposes.

• Prior to the Investment Grade Date, it will not, and will not permit any of its Restricted Subsidiaries to, purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person except (a) acquisitions solely among the Borrower Parties, (b) Permitted Acquisitions, (c) Organic Growth, (d) Investments permitted pursuant to Section 6.04, and (e) purchases or other acquisitions in the ordinary course of business.

• Moreover, prior to the Investment Grade Date, the Administrative Agent as the secured party may take such independent action in connection therewith as it may in its reasonable discretion deem proper, including the right to employ independent counsel and to intervene in any suit affecting the Collateral.

• Permit the Consolidated Senior Secured Leverage Ratio as of the end of any fiscal quarter of the Borrower prior to the Investment Grade Date to be greater than (i) except during a Specified Acquisition Period, 3.75 to 1.00 and (ii) during a Specified Acquisition Period, 4.00 to 1.00.

More Definitions of Investment Grade Date

Investment Grade Date means the first date on which the Borrower achieves an Investment Grade Rating.

Investment Grade Date means the first date on which the Borrower’s Index Debt rating is BBB- or better by S&P (without negative outlook or negative watch), or Baa3 or better by Moody’s (without negative outlook or negative watch), provided that the other of the two Index Debt ratings is at least BB+ by S&P or Ba1 by Moody’s.

Investment Grade Date means the first day on which the ratings established by both S&P and Xxxxx'x for the Index Debt are, respectively, BBB- or better and Baa3 or better.

Investment Grade Date means the first date on which (a) at least two of S&P, Xxxxx’x and Fitch first maintain an Investment Grade Rating and (b) the Borrower notifies the Administrative Agent in writing of such Investment Grade Rating.

Investment Grade Date has the meaning set forth in Section 5.15 hereof.

Investment Grade Date means the first date that the following conditions are met:

Investment Grade Date means the first date on which the Index Debt of CPG achieves an Investment Grade Rating.