Rate Option Notice definition

Rate Option Notice is defined in Section 2.2.4.
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Rate Option Notice is defined in Section 2.2.4. “Ratings Condition” shall be deemed to be satisfied on any date on which at least two of the following have occurred and are continuing: (i) the senior unsecured public debt rating of the Borrower from S&P is A- or better, (ii) the senior unsecured public debt rating of the Borrower from Moody’s is A3 or better, or (iii) the senior unsecured public debt rating of the Borrower from Fitch is A- or better. In the event that any of S&P, ▇▇▇▇▇’▇ or ▇▇▇▇▇ changes its respective rating system, the referenced ratings shall be the ratings equivalent to the above-denominated ratings prior to giving effect to such change, as reasonably determined by the Administrative Agent.
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Examples of Rate Option Notice in a sentence

  • Promptly after receipt thereof, (a) the Administrative Agent will notify each Revolving Credit Lender of the contents of each Aggregate Revolving Credit Commitment reduction notice, and (b) the Administrative Agent shall notify each Revolving Credit Lender of each Ratable Borrowing Notice, Rate Option Notice and repayment notice received by the Administrative Agent with respect to the Revolving Credit Facility.

  • Promptly after receipt thereof, (a) the Administrative Agent will notify each Term Lender of the contents of each notice in respect of a prepayment of Term Loans under Section 2.6 and (b) the Administrative Agent shall notify each Term Lender of each Ratable Borrowing Notice, Rate Option Notice and repayment notice received by the Administrative Agent with respect to the Term Loan Facility.