Negative Ratings Event definition
Negative Ratings Event means that at any time within 90 days (which period shall be extended so long as the corporate credit rating of the Borrower or the credit rating in respect of the Notes is under publicly announced consideration for possible downgrade by any Rating Agency) after the announcement of any reorganisation or other type of corporate reconstruction as referred to in Clause 13.5 (Mergers) the corporate rating of the Borrower or the rating of the Notes is decreased or downgraded by a Rating Agency by one or more Rating Categories below the corporate rating of the Borrower or the rating of the Notes as of the date hereof (or if a Rating Agency has not assigned any such rating as of the date hereof, below the first such rating assigned to the Borrower or the Notes by that Rating Agency after the date hereof) as a result of such reorganisation or other type of corporate reconstruction, as specified by the relevant Rating Agency;
Negative Ratings Event means the occurrence of any of the following:
Negative Ratings Event means the credit rating of the Loans made to Borrower under the Credit Agreement being downgraded, suspended, or withdrawn by the Rating Agency or that the credit rating of the Loans made to Borrower under the Credit Agreement will be placed under surveillance or review, with possible negative implication.
More Definitions of Negative Ratings Event
Negative Ratings Event is hereby added to Exhibit I of the Credit Agreement in the proper alphabetical order: