Rating Downgrade Event means the rating on the debt securities is lowered from their rating then in effect by any of the Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of a Change of Control (which period shall be extended so long as the rating of the debt securities is under publicly announced consideration for possible downgrade by any of the Rating Agencies).
Rating Downgrade Event means the rating on the Notes is lowered from their rating then in effect as a result of any event or circumstance comprised of or arising as a result of, or in respect of, a Change of Control (or pending Change of Control) by at least two of the Rating Agencies on any date during the period (the “Trigger Period”) commencing on the earlier of (i) the occurrence of a Change of Control and (ii) the first public notice of the intention by the Company to effect a Change of Control, and ending 60 days thereafter (which Trigger Period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies). In the event that less than two Rating Agencies are providing a rating for the Notes at the commencement of any Trigger Period, then a “Rating Downgrade Event” shall be deemed to have occurred during that Trigger Period. Notwithstanding the foregoing, no Rating Downgrade Event will be deemed to have occurred as a result of any event or circumstance comprised of or arising as a result of, or in respect of, a Change of Control unless and until such Change of Control has actually been consummated.
Rating Downgrade Event means the rating of an Underlying ---------------------- Security is rated "D" by the Rating Agency.
Examples of Rating Downgrade Event in a sentence
For purposes of this Agreement, the occurrence of either a Collateral Rating Downgrade Event or a Required Rating Downgrade Event may be referred to as a rating agency downgrade (a “Rating Agency Downgrade”).
The Administrative Agent will promptly notify each Lender (A) after officers within the agency management group (or similar group performing the functions of the present agency management group) of Bank of America obtain knowledge, if a Credit Rating Downgrade Event has occurred, and (B) if a Deposit Interest Non-Payment Event has occurred.
To avoid any commingling risk, the Issuer will benefit from an undertaking from GE Money Bank to transfer to the Issuer certain amounts on the date on which a Support Provider Rating Downgrade Event occurs and then on each collection payment date following such Support Provider Rating Downgrade Event (provided that such Support Provider Rating Downgrade Event is continuing) by crediting such cash collateral account as designated by the Issuer, as security for its financial obligations.
The Debenture Trustee (based on the consent of the Majority Debenture Holders) shall, upon occurrence of a Rating Downgrade Event and in accordance with Clause 6A, have the right to exercise it option to cause the Issuer to Redeem the Debentures in full.
The Company may consolidate or otherwise combine with, merge into or transfer all or part of its properties and assets to Braskem S.A. as long as such consolidation, combination, merger or transfer does not result in a Rating Downgrade Event (replacing references to a Change of Control with references to such consolidating, combination, merger or transfer, mutatis mutandis).
More Definitions of Rating Downgrade Event
Rating Downgrade Event shall be deemed to have occurred in respect of the Change of Control if the then current rating assigned to the Rated Securities by any Rating Agency is withdrawn or reduced from at least an Investment Grade Rating or, if a Rating Agency shall already have rated the Rated Securities below an Investment Grade Rating, the rating is lowered one full rating category.
Rating Downgrade Event means the rating on the Notes is lowered from their rating then in effect as a result of any event or circumstance comprised of or arising as a result of, or in respect of, a Change of Control (or pending Change of Control) by at least two of the Rating Agencies on any date during the period (the “Trigger Period”) from the date of the public announcement by the Issuer of a Change of Control (or pending Change of Control) until the end of the 60-day period following public announcement by the Issuer of the consummation of a Change of Control (which Trigger Period shall be extended following the consummation of the Change of Control so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies). In the event that less than two Rating Agencies are providing a rating for the Notes at the commencement of any Trigger Period, then a “Rating Downgrade Event” shall be deemed to have occurred during that Trigger Period. Notwithstanding the foregoing, no Rating Downgrade Event will be deemed to have occurred as a result of any event or circumstance comprised of or arising as a result of, or in respect of, a Change of Control unless and until such Change of Control has actually been consummated.
Rating Downgrade Event means any downgrade of the credit rating of the Debentures by the Rating Agency below ‘AAA’.
Rating Downgrade Event has the meaning specified in the definition of “Ratings Downgrade Trigger Event”.
Rating Downgrade Event has the meaning assigned to it under Clause 6A(a).
Rating Downgrade Event means the rating on the Notes is lowered from the rating then in effect by any of the Rating Agencies to a rating that is lower than the Investment Grade Floor (including any reduction of the Rating then in effect if such Rating is already lower than the Investment Grade Floor) on any date during the period (the “Trigger Period”) commencing on the date of the first public announcement of any Change of Control and ending 60 days following consummation of such Change of Control (which Trigger Period will be extended following consummation of a Change of Control for so long as any of the Rating Agencies has publicly announced prior to the end of the 60 days following consummation of the Change of Control that it is considering a possible ratings change); provided that a Rating Downgrade Event otherwise arising by virtue of a particular lowering in rating will not be deemed to have occurred in respect of a particular Change of Control if the Rating Agency making the lowering in rating to which this definition would otherwise apply does not announce or publicly confirm or notify the holders in writing in response to a request made at the direction of holders of a majority in principal amount of the then outstanding Notes that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control. In no event shall the Trustee be charged with knowledge of the rating of the Notes or the Guarantor, nor shall it be charged with monitoring such rating. Notwithstanding the foregoing, no Rating Downgrade Event will be deemed to have occurred in connection with any particular Change of Control unless and until such Change of Control has actually been consummated.
Rating Downgrade Event means that the rating of the Notes by both Rating Agencies, or if the Notes are rated by a single Rating Agency, the rating of the Notes by such Rating Agency, is decreased by one or more gradations (including gradations within rating categories as well as between rating categories) at any time within ninety (90) days after the earlier of the date of public notice of the occurrence of a Change of Control or of the Company’s intention to effect a Change of Control (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Rating Downgrade Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Rating Downgrade Event for purposes of the definition of Change of Control Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the trustee in writing at its request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Rating Downgrade Event); provided further that a Rating Downgrade Event shall be deemed to have occurred to the extent that the Notes are not rated by any Rating Agency.