Investment Grade Rating Condition definition

Investment Grade Rating Condition means, on any date, that any two of the following three Corporate Ratings are in effect as of such date: (a) the Xxxxx’x Rating is Baa3 or better; (b) the S&P Rating is BBB- or better; or (c) the Fitch Rating is BBB- or better, in each case with a stable (or better) outlook.

Investment Grade Rating Condition means, with respect to any Person, that Person has two or more of any of the following: (i) a rating of [REDACTED: Commercially Sensitive] or better by Standard and Poor’s Financial Services LLC (or its equivalent under any successor rating categories of Standard and Poor’s Financial Services LLC),

Investment Grade Rating Condition has the meaning specified in Section 7.09.

Examples of Investment Grade Rating Condition in a sentence

• Notwithstanding the foregoing, any Encumbrances granted in accordance with this Section 8.9 at a time when Vale satisfies the Investment Grade Rating Condition, shall not thereafter become restricted by the foregoing negative pledge as a result of the Investment Grade Rating Condition ceasing to be satisfied in the future.

• For the avoidance of doubt, neither Holdings nor the Borrower shall have any obligation to (i) cause the Investment Grade Rating Condition to be satisfied or (ii) deliver the notice set forth in this Section 8.10(f) upon satisfaction of the Investment Grade Rating Condition (it being understood that the Collateral Release Date shall not be triggered unless and until such notice has been delivered).

• Notwithstanding the foregoing, any Indebtedness incurred or Guarantee or Stream Equivalent Transaction granted at a time when Vale satisfies the Investment Grade Rating Condition shall not thereafter become restricted by the foregoing provisions of this Section 8.15 as a result of the Investment Grade Rating Condition ceasing to be satisfied in the future.

• Notwithstanding the foregoing, in relation to any then existing Related Party Indebtedness, in the event that the Investment Grade Rating Condition ceases to be satisfied and prior to the Trigger Date the Seller shall cause the relevant Vale Affiliate to subordinate and postpone such Related Party Indebtedness in accordance with the foregoing within 30 days of such event.

• TRIZEC HOLDINGS OPERATING LLC By: Trizec Properties, Inc., its sole managing member By: Name: Title: * Revise based on whether the Investment Grade Rating Condition exists.

More Definitions of Investment Grade Rating Condition

Investment Grade Rating Condition means, at any time, the condition that shall be satisfied if Holdings maintains an Investment Grade Rating with two or more of the Ratings Agencies.

Investment Grade Rating Condition means, at any time but only for so long as, at least two of the three Rating Agencies shall have publicly announced a Credit Rating for the Loans and/or the long term unsecured debt of Trizec of at least BBB-/Baa3 (but otherwise subject to the first proviso of the definition of Applicable Facility Fee Percentage and the first proviso of clause (B) of the definition of Applicable Margin).

Investment Grade Rating Condition the Borrower shall be deemed to have satisfied this requirement on a particular day if and only if, on such day, the Borrower Debt Rating is rated BBB- or higher by S&P and Baa3 or higher by Moody's (or in each case, a comparable rating from a generally recognxxxx xxccessor to such rating agency).

Investment Grade Rating Condition means, at any time, the condition that shall be satisfied if Holdings has a Designated Rating of at least (a) Baa3 from Moody’s or (b) BBB- from S&P, in each case with a stable outlook or better.

Investment Grade Rating Condition means, with respect to any person, that such person has two or more of any of the following (each a “long-term credit rating”): (i) a rating of [***] by Standard and Poor’s Financial Services LLC (or its equivalent under any successor rating categories of Standard and Poor’s Financial Services LLC), (ii) a rating of [***] by Xxxxx’x Investor Services, Inc. (or its equivalent under any successor rating categories of Xxxxx’x Investor Services, Inc.), or (iii) a rating of [***] by Fitch Ratings, Inc. / Fitch Ratings, Ltd. (or its equivalent under any successor rating categories of Fitch Ratings, Inc. / Fitch Ratings, Ltd.).

Investment Grade Rating Condition means that the Surviving Acquired Company Senior Notes shall have an “Investment Grade Rating” as defined in the applicable indentures governing the Surviving Acquired Company Senior Notes.

Investment Grade Rating Condition means with respect to the Borrower at any date of determination, a Senior Debt Rating of (i) BBB- or better in the case of S&P or (ii) Baa3 or better in the case of Moody's, provided, however, that at such date there shall not be in effect a Senior Debt Rating of (x) BB or lower in the case of S&P or (y) Ba2 or lower in the case of Moody's.