Minimum Investment Grade Rating definition

Minimum Investment Grade Rating means the lowest rating level established as investment grade by each Rating Agency, it being understood that as of the date of this Agreement the "Minimum Investment Grade Rating" of S&P is BBB- and the "Minimum Investment Grade Rating" of ▇▇▇▇▇'▇ is Baa3.

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Minimum Investment Grade Rating of a Person means ------------------------------- that such Person has a minimum credit rating on its senior unsecured debt securities of at least two of the following ratings: (i) BBB as determined by Standard & Poor's Corporation, (ii) Baa2 as determined by ▇▇▇▇▇'▇ Investors Service, Inc., or (iii) a comparable rating by another nationally recognized rating service reasonably acceptable to Buyer.

Minimum Investment Grade Rating and "NIG Period" appearing in said Section in their entirety and (ii) inserting the following definitions in appropriate alphabetical order in said Section:

Examples of Minimum Investment Grade Rating in a sentence

Notwithstanding the foregoing, all Collateral shall be automatically released (subject to reinstatement upon the occurrence of a new Trigger Event) if at any time subsequent to the Credit Parties providing the Collateral in compliance with the preceding sentence the Applicable Credit Rating issued by each Rating Agency shall, giving effect to such release and subject to the completion of such release, if applicable, each be the Minimum Investment Grade Rating or higher.
Notwithstanding the foregoing, all Collateral shall be automatically released (subject to reinstatement upon the occurrence of a new Trigger Event) if at any time subsequent to the Credit Parties providing the Collateral in compliance with the preceding sentence the Applicable Credit Rating issued by each Rating Agency shall, after giving effect to such release and subject to the completion of such release, if applicable, each be the Minimum Investment Grade Rating or higher.
The Loans under this Agreement and, if issued, the New Senior Notes, each shall have received a Credit Rating from each Rating Agency equal to or greater than the Minimum Investment Grade Rating (after giving pro forma effect to the Spin-Off).
Guarantor may, upon notice to Creditor, assign its rights hereunder without the consent of Creditor to an Affiliate with a Minimum Investment Grade Rating.
Supplier shall (a) provide a ---------------------- certificate from a duly authorized corporate officer of Supplier certifying that, as of the Effective Date, Supplier has a credit rating equal to or higher than the Minimum Investment Grade Rating; or (b) post a letter of credit in a form reasonably acceptable to Buyer in the amount of the Credit Amount from a financial institution with a credit rating of A2 or better from ▇▇▇▇▇'▇ Investors Service, Inc.

More Definitions of Minimum Investment Grade Rating

Minimum Investment Grade Rating means that Guarantor’s Affiliate has a minimum credit rating on its senior unsecured debt securities of at least two (2) of the following ratings: (i) BBB- as determined by Standard & Poors Corporation, (ii) Baa3 as determined by ▇▇▇▇▇’▇ Investor Service, Inc., or (iii) a comparable rating by another nationally recognized rating service reasonably acceptable to Creditor and Guarantor. Subject to the foregoing, this Guaranty shall be binding upon and inure to the benefit of the parties hereto and their respective successors, permitted assigns, and legal representatives.