Investment Grade Period definition

Investment Grade Period means any period (a) commencing on the first day on which (x) two or more of the Issuer Ratings are Investment Grade Ratings and (y) no Default or Event of Default has occurred and is continuing and (b) ending on the date on which two or more of the Issuer Ratings are no longer Investment Grade Ratings.

Investment Grade Period means, the period from (a) the first date on which (i) the Borrower has received at least two of the Required Ratings, (ii) all Liens on the Collateral have been released and (iii) the Borrower has elected that such Investment Grade Period shall commence until (b) a Borrowing Base Trigger Event.

Investment Grade Period means any period commencing with the occurrence of a Collateral Suspension Event and ending on a Collateral Reversion Date.

Examples of Investment Grade Period in a sentence

• During an Investment Grade Period, the liens securing the obligations thereunder shall be automatically released (subject to the provisions of the Credit Facility).

• Interest at the time of borrowing is determined with reference to (i) during any period that is not an Investment Grade Period, the Partnership’s then-current leverage ratio and (ii) during an Investment Grade Period, with reference to the rating given to the Partnership by Moody’s or Standard and Poor’s.

• Commitment fees on the unused portion of the revolving credit facility are due quarterly at rates ranging from 0.25% to 0.375% based on the leverage ratio, during a period that is not an Investment Grade Period, and 0.175% to 0.375% based on the Partnership’s rating during an Investment Grade Period.

• During any period that is not an Investment Grade Period, the applicable margin rates range from 25 basis points to 225 basis points.

• Notwithstanding anything in this Agreement to the contrary, during any Investment Grade Period, the provisions of Section 2.14(a) to (k) of and Section 4.3(c) will be deemed to be inapplicable and shall be disregarded for all purposes.

More Definitions of Investment Grade Period

Investment Grade Period has the meaning assigned to such term in Section 9.20.

Investment Grade Period means any period commencing with the date the Borrower elects to enter into an Investment Grade Period pursuant to the provisions of Section 13.23(a) and ending with the earlier to occur of (i) the date the Borrower elects to exit such Investment Grade Period pursuant to the provisions of Section 13.23(b) and (ii) the first date following the beginning of such Investment Grade Period on which the Borrower receives both (i) a Rating from Moody’s that is lower than Ba1 and (ii) a Rating from S&P that is lower than BB+.

Investment Grade Period means any period when each of Moody’s and S&P has publically announced that the Index Debt is rated Baa3 or higher (from Moody’s) or BBB- or higher (from S&P); provided, however, that if one of such ratings is Ba3 (or lower) or BB- (or lower) as applicable, even if the other rating is Baa3 or BBB- or higher, as applicable, there shall not be an Investment Grade Period. [CREDIT AGREEMENT]

Investment Grade Period means any period other than a Borrowing Base Trigger Period.

Investment Grade Period means any period commencing with the date the Borrower delivers an Investment Grade Election to the Administrative Agent (so long as the Parent or Borrower, as applicable, has an Investment Grade Rating from one or more of Moody’s and S&P at such time) and ending with the earlier to occur of (a) the date the Borrower elects in writing to the Administrative Agent to exit such Investment Grade Period and (b) the first date following the beginning of such Investment Grade Period on which the Borrower receives an Index Debt rating from Moody’s and S&P below (i) Ba1 and (ii) BB+, respectively.

Investment Grade Period means any period other than a Credit Rating Trigger Period.

Investment Grade Period means any period commencing with the date the Borrower delivers an Investment Grade Election to the Administrative Agent, and ending on the earlier to occur of (a) the date the Borrower delivers a Leverage Ratio Election to the Administrative Agent, and (b) the first date following the beginning of any Investment Grade Period on which the Borrower receives both (i) an Index Debt rating from Mxxxx’x that is lower than Ba1 (or no Index Debt rating from Moody’s) and (ii) an Index Debt rating from S&P that is lower than BB+ (or no Index Debt rating from S&P).