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.
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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.
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Investment Grade Period has the meaning assigned to such term in Section 9.20.
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Examples of Investment Grade Period in a sentence

  • Upon the end of any Investment Grade Period, the Borrowing Base will be determined using the mechanics set forth in Section 2.14(c) for Interim Redeterminations using the Engineering Reports delivered to the Administrative Agent pursuant to Section 10.13(b) and shall become effective pursuant to Section 2.14(d)(ii).

  • 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.

  • At any time during an Investment Grade Period, the Borrower will not permit, as of the last day of any fiscal quarter commencing with the first fiscal quarter ending during such Investment Grade Period, the Asset Coverage Ratio as of such date to be less than 1.50 to 1.00.

  • The Borrower shall be required to deliver a Borrowing Base Certificate as of the end of a month even if the Investment Grade Period is in effect as of such month-end.

  • Such designation is subject to (i) compliance with Section 10.18 [Joinder of Guarantors]; (ii) the requirements of Section 7 [Covenants] and in particular Section 7.2.10 [Borrowing Base] (provided that the requirements of such Section 7.2.10 shall apply only if the Investment Grade Period is not in effect); and (iii) the requirement that such designation not cause an Event of Default or Potential Default.


More Definitions of Investment Grade Period

Investment Grade Period means any period commencing with the occurrence of a Collateral Suspension Event and ending on a Collateral Reversion Date.
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Investment Grade Period means any period other than a Borrowing Base Trigger Period.
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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.
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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+.
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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 11.15(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 11.15(b) and (ii) the first date following the beginning of such Investment Grade Period on which the Borrower receives both (i) a corporate rating from ▇▇▇▇▇’▇ that is lower than Ba1 and (ii) a corporate rating from S&P that is lower than BB+.
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Investment Grade Period means any period other than a Credit Rating Trigger Period.
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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.
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