Investment Grade Event definition

Investment Grade Event means (1) the Issuer has obtained a rating or, to the extent such Rating Agency will not provide a rating, an advisory or prospective rating from two of the Rating Agencies that reflects an Investment Grade Rating with respect to the Notes after giving effect to the proposed release of the Collateral securing the Notes; and (2) no Event of Default shall have occurred and be continuing with respect to the Notes.

Investment Grade Event means (i) the senior, unsecured, long-term debt securities of the Company are rated Investment Grade by any two of the three Rating Agencies; (ii) the Notes are rated Investment Grade by any two of the three Rating Agencies after giving effect to the proposed release of all of the Collateral securing the Notes; and (iii) no Event of Default shall have occurred and be continuing with respect to the Notes.

Investment Grade Event means the Notes have achieved an Investment Grade Rating by both of the Rating Agencies.

Examples of Investment Grade Event in a sentence

• The provisions of Section 4.08 of the Indenture shall permanently terminate upon the occurrence of an Investment Grade Event, and the occurrence of a Change of Control following an Investment Grade Event shall not result in a requirement for the Company to make a Change of Control Offer.

• For the avoidance of doubt, the Below Investment Grade Adjusted Interest Rate shall not apply unless and until a Below Investment Grade Event has occurred.

• In the preliminary analysis, DOE’s projected that pool heater shipments would grow significantly from 0.28 million in 2006 to over 0.7 million by 2040.

• Prior to the occurrence or after the cessation of an Investment Grade Event, change the fiscal year of the Borrower; provided, that the Borrower may, upon written notice to the Administrative Agent, change its fiscal year to any other fiscal year reasonably acceptable to the Administrative Agent, in which case, the Borrower and the Administrative Agent will, and are hereby authorized by the Lenders to, make any adjustments to this Agreement that are necessary to reflect such change in fiscal year.

• Prior to the occurrence of an Investment Grade Event, permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower (or, if ENLC is a Guarantor, ENLC) to be less than 2.50 to 1.00; provided that, for purposes of this Section 7.08(b), Consolidated EBITDA may include, at the Borrower’s option, any Material Project EBITDA Adjustments.

More Definitions of Investment Grade Event

Investment Grade Event means the first date following the date of this Indenture on which the Company has a rating by at least two of the Rating Agencies, as follows: Baa3 or better by Moody’s, BBB- or better by S&P, and BBB- or better by Fitch (or, if a replacement Rating Agency has been selected for Moody’s, S&P or Fitch in accordance with the definition of Rating Agency, an equivalent rating from such Rating Agency).

Investment Grade Event means, with respect to a Series of Securities, (i) the senior, unsecured, non-credit enhanced, long-term debt securities of the Company are rated Investment Grade by any two of the three Rating Agencies; (ii) the Securities of such Series are rated Investment Grade by any two of the three Rating Agencies after giving effect to the proposed release of all of the Collateral securing such Securities; (iii) all Liens securing Obligations under the Credit Agreement shall be released substantially concurrently and (iv) no Event of Default shall have occurred and be continuing with respect to the Securities of such Series.

Investment Grade Event means the first occurrence of (a) the Borrower’s obtaining a Debt Rating of Baa3 or better from Moody’s or (b) the Borrower’s obtaining a Debt Rating of BBB- or better from S&P; provided that the Borrower has a Debt Rating from the other Rating Agency and it is at least either Ba1 (stable), if Moody’s, and BB+ (stable), if S&P.

Investment Grade Event means the achievement, at any time after the Fifth Amendment Closing Date, of (a) a corporate family rating of the Borrower from Moody’s of Baa3 or better (with a stable outlook or better) and (b) a corporate rating of the Borrower from S&P of BBB- or better (with a stable outlook or better).

Investment Grade Event means the earlier to occur of (a) the Borrower (or if the Borrower has no Debt Rating and the Guarantor has a Debt Rating, the Guarantor) obtaining a Debt Rating of Baa3 or better from Moody’s and BB+ or better from S&P, and (b) the Borrower (or if the Borrower has no Debt Rating and the Guarantor has a Debt Rating, the Guarantor) obtaining a Debt Rating of BBB- or better from S&P and Ba1 or better from Moody’s.

Investment Grade Event means, with respect to a Series of Notes, (i) the senior, unsecured, non-credit enhanced, long-term debt securities of the Company are rated Investment Grade by any two of the three Rating Agencies; (ii) the Notes of such Series are rated Investment Grade by any two of the three Rating Agencies after giving effect to the proposed release of all of the Collateral securing the Notes; (iii) all Liens securing Obligations under the Credit Agreement shall be released substantially concurrently and (iv) no Event of Default shall have occurred and be continuing with respect to the Notes of such Series.

Investment Grade Event means, with respect to a Series of Securities, (i) the senior, unsecured, long-term debt securities of the Company are rated Investment Grade by any two of the three Rating Agencies; (ii) the Securities of such Series are rated Investment Grade by any two of the three Rating Agencies after giving effect to the proposed release of all of the Collateral securing such Securities; and (iii) no Event of Default shall have occurred and be continuing with respect to the Securities of such Series.