Rating Event Date definition

Rating Event Date has the meaning specified in Section 1010(a).
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Rating Event Date means the first date upon which the Securities are rated Baa3 or better by Xxxxx'x Investors Service, Inc., BBB- or better by Standard & Poor's Corporation and BBB- or better by Duff & Xxxxxx Credit Rating Co. (or, in any case, if such person ceases to rate the Securities for reasons outside the control of the Company, the equivalent investment grade credit rating from any other "nationally recognized statistical rating organization" (within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Company as a replacement rating agency).
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Rating Event Date means the first date upon which the Notes are rated Investment Grade.
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Examples of Rating Event Date in a sentence

  • Following the Rating Event Date (and provided no Event of Default or Default shall exist on the Rating Event Date), substantially all the covenants contained in the Indenture (excluding the covenant relating to the Company's obligation to make an Offer to Purchase Securities upon the occurrence of a Change of Control) will cease to apply to the Securities.

  • At no time after a Rating Event Date will the provisions and covenants contained in this Sixteenth Supplemental Indenture at the time of the issuance of the Notes that cease to be applicable after the Rating Event Date be reinstated.

  • Notwithstanding the foregoing, subsequent to the Rating Event Date, and provided that no Event of Default or event which with notice or passage of time would constitute an Event of Default shall exist on the Rating Event Date, the provisions and covenants described in Sections 3.1, 3.2, 3.3, 3.4, 3.5 and 3.8 above and clause (iv) under Section 3.9 shall be of no further force and effect and shall cease to apply to the Company and the covenant described in Section 3.10 shall take effect.

  • In order to provide for the payments required by the Company pursuant to Section 4.2(a) hereof, the Company shall cause to be provided on the Closing Date, and be continuously available to the Trustee, as beneficiary, at all times prior to a Rating Event Date, an irrevocable Letter of Credit (whether in the form of a letter of credit or any other credit instrument) meeting the requirements of Section 5.

  • Following the Rating Event Date (and provided no Event of Default or Default shall exist on the Rating Event Date), Section 801 and Sections 1008, 1009, 1010, 1011, 1012, 1014, 1015, 1016, 1018 and 1021 of the Indenture (collec tively, the "Eliminated Covenants") shall be of no further force and effect and shall cease to apply to the Securities and, in place thereof, the provisions of Sections 2.6 and 2.7 hereof shall apply to the Securities.

  • Following the Rating Event Date (and provided no Event of Default or Default shall exist on the Rating Event Date), Section 801 and Sections 1008, 1009, 1010, 1011, 1012, 1014, 1015, 1016, 1018 and 1021 of the Indenture (collectively, the "Eliminated Covenants") shall be of no further force and effect and shall cease to apply to the Notes and, in place thereof, the provisions of Sections 2.6 and 2.7 hereof shall apply to the Notes.

  • The following provision shall apply only subsequent to the Rating Event Date.

  • The Sections that cease to be applicable to the Securities after the Rating Event Date shall not subsequently be reinstated.

  • Following the Rating Event Date (and provided no Event of Default or Default shall exist on the Rating Event Date), Section 801 and Sections 1008, 1009, 1010, 1011, 1012, 1014, 1015, 1016, 1018 and 1021 of the Indenture (collectively, the "Eliminated Covenants") shall be of no further force and effect and shall cease to apply to the Securities and, in place thereof, the provisions of Sections 2.6 and 2.7 hereof shall apply to the Securities.

  • Following the Rating Event Date, all Unrestricted Subsidiaries shall become Restricted Subsidiaries.


More Definitions of Rating Event Date

Rating Event Date means the first date upon which the Notes are rated Baa3 or better by Xxxxx'x Investors Service, Inc., BBB- or better by Standard & Poor's Corporation and BBB- or better by Duff & Xxxxxx Credit Rating Co. (or, in any case, if such person ceases to rate the Notes for reasons outside the control of the Company, the equivalent investment grade credit rating from any other "nationally recognized statistical rating organization" (within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act) selected by the Company as a replacement rating agency). FORM OF SUPPLEMENTAL INDENTURE ARTICLE TWO
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Rating Event Date means any date upon which the Company elects to have the Bonds no longer secured by a Letter of Credit or Alternate Letter of Credit pursuant to the provisions of Section 5.01(c) hereof, which date shall be (i) a Conversion Date on which the interest rate on all outstanding Bonds is being converted to a new Interest Mode, (ii) any day during any Long-Term Interest Rate Mode, but only a day on or after a date the Bonds are then permitted to be optionally redeemed pursuant to Section 3.01(c) hereof and only to the extent that the principal portion of the stated amount of the then-existing Letter of Credit includes, in addition to an amount equal to the principal amount of Bonds outstanding, an amount equal to any premium then payable, (iii) any Commercial Paper Rate Reset Date on which the interest rate on all Bonds in a Commercial Paper Mode shall be reset, or (iv) any day during any Daily Period, or Weekly Period. "Record Date" means the close of business on the Business Day next preceding any Interest Payment Date; provided, however, with respect to any Interest Payment Date for a Long-Term Interest Rate Period, the "Record Date" shall be the close of business on the fifteenth day of the calendar month next preceding such Interest Payment Date. "Reimbursement Agreement" means the Reimbursement Agreement executed and delivered on the Closing Date, by and between the Company and the Credit Bank, and, with respect to each subsequent Alternate Credit Facility, the agreement pursuant to which such Alternate Credit Facility is issued. All references to "Reimbursement Agreement" shall be of no effect at any time that no Letter of Credit is issued and secures the Bonds, except with respect to rights of any Credit Bank which do not by their terms expire upon the expiration of the Letter of Credit issued by such Credit Bank. "Remarketing Agent" means The First National Bank of Chicago and its successors acting in such capacity under this Indenture. "Remarketing Agreement" means the Remarketing Agreement, dated as of the date of this Indenture, between the Company and the Remarketing Agent, or any similar agreement between the Company and the Remarketing Agent, as amended or supplemented from time to time in accordance with its terms. "Responsible Officer" means the Chairman of the Board, the President or any other officer or assistant officer of the Trustee assigned by the Trustee to administer its corporate trust matters. "Revenues" means all amounts pledged hereu...
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Related to Rating Event Date

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company 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 Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Event Date shall have the meaning set forth in Section 2(d).

  • Adverse Rating Event With respect to any Class of Rated Certificates and any Rating Agency that has assigned a rating thereto, as of any date of determination, the qualification, downgrade or withdrawal of the rating then assigned to such Class of Rated Certificates by such Rating Agency (or the placement of such Class of Rated Certificates on “negative credit watch” status in contemplation of any such action with respect thereto).

  • Rating Date means the date which is 90 days prior to the earlier of (i) a Change in Control and (ii) public notice of the occurrence of a Change in Control or of the intention of the Company to effect a Change in Control.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Investment Grade Rating Event means the first day on which the Notes have an Investment Grade Rating from each Rating Agency, and no Default has occurred and is then continuing under this Indenture.

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Step Down Rating Change means the first public announcement by S&P and, if applicable, each other Rating Agency appointed by or with the consent of Heimstaden Bostad, after a Step Up Rating Change, that the credit rating of Heimstaden Bostad's senior unsecured long-term debt is at least BBB- in the case of S&P and, if applicable, at least Baa3 in the case of Moody's and at least BBB- in the case of Fitch with the result that, following such public announcement, no Rating Agency assigns a credit rating below the aforementioned levels or any equivalent rating. For the avoidance of doubt, any further increase in the credit rating of Heimstaden Bostad's senior unsecured long-term debt above BBB- in the case of S&P and, if applicable, at least Baa3 in the case of Moody's and at least BBB- in the case of Fitch and in respect of any other Substitute Rating Agency, an equivalent rating or above shall not constitute a further Step Down Rating Change;

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Triggering Event means any Section 11(a)(ii) Event or any Section 13 Event.

  • Reduction Event means any of the following:

  • Subsequent Triggering Event means either of the following events or transactions occurring after the date hereof:

  • Step Up Rating Change means the first public announcement by S&P or, if applicable, any other Rating Agency appointed by or with the consent of the Issuer of a decrease in the credit rating of the Issuer's senior unsecured long-term debt to below BBB- (in the case of S&P) or below Baa3 (in the case of Moody's) or below BBB- (in the case of Fitch). For the avoidance of doubt, any further decrease in the credit rating of the Issuer's senior unsecured long-term debt below BBB- in the case of S&P or, if applicable, below Baa3 in the case of Moody's or below BBB- in the case of Fitch and in respect of any other Substitute Rating Agency, an equivalent rating or below shall not constitute a further Step Up Rating Change.

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time short-term debt ratings in one of the two highest rating categories from the Requisite NRSROs.

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Rating Agency Event means that any nationally recognized statistical rating organization within the meaning of Section 3(a)(62) of the Exchange Act that then publishes a rating for the Company (a “rating agency”) amends, clarifies or changes the criteria it uses to assign equity credit to securities such as the Notes, which amendment, clarification or change results in:

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Rating period means the calendar period for which premium rates established by a small employer carrier are assumed to be in effect.

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • Make-Whole Fundamental Change Effective Date means (A) with respect to a Make-Whole Fundamental Change pursuant to clause (A) of the definition thereof, the date on which such Make-Whole Fundamental Change occurs or becomes effective; and (B) with respect to a Make-Whole Fundamental Change pursuant to clause (B) of the definition thereof, the applicable Redemption Notice Date.

  • Ratings Event means a downgrade by one or more gradations (including gradations within ratings categories as well as between rating categories) or withdrawal of the rating of the Notes within the Ratings Decline Period by two or more Rating Agencies (unless the applicable Rating Agency shall have put forth a written statement to the effect that such downgrade is not attributable in whole or in part to the applicable Change of Control) following which (except in the case of a withdrawal of a rating) the rating of the Notes by each such Rating Agency is below such Rating Agency’s rating of the Notes on the Issue Date.