Reinstatement Event definition

Reinstatement Event means the final 2021 Deferral Final Repayment Date or any date when all Deferral Tranches under the Delivered Vessel Facilities (as defined therein) are repaid or prepaid in full.

Reinstatement Event has the meaning specified in Section 6.14(d).

Reinstatement Event means, after a Suspension Date, that the most recently announced Corporate Rating of the BorrowerHoldings by at least two of the Rating Agencies shall not be an Investment Grade Rating, or at least two of the Rating Agencies shall have ceased to publish a Corporate Rating with respect to the BorrowerHoldings, or the Borrower notifies the Administrative Agent in writing that it has elected to terminate the Suspension Period.

Examples of Reinstatement Event in a sentence

• The Administrative Agent is hereby authorized to enter into any New Collateral Documents in connection with any Collateral Reinstatement Event.

• Promptly (and in any event within 90 days (as such deadline may be extended by the Administrative Agent in its sole discretion)) after the occurrence of a Collateral Reinstatement Event, the Borrower shall, and shall cause each of its Subsidiaries (as applicable), at the Borrowers’ sole expense, to comply with the Collateral and Guarantee Requirement (including without limitation the delivery of documentation and taking of actions of the type described in Section 6.12).

• Notwithstanding anything to the contrary contained herein, any Permitted Credit Agreement Refinancing Indebtedness incurred, assumed or existing during a Collateral Release Period shall be unsecured and shall not include provisions requiring the securing of such Indebtedness except upon the occurrence of a Collateral Reinstatement Event, and only after (or substantially simultaneously with) the grant of Liens securing the Obligations, and subject to an Acceptable Intercreditor Agreement.

• The Company shall give the Trustee prompt (and in any event not later than five Business Days after a Reinstatement Event) written notice of any occurrence of a Reinstatement Date.

• Subject to the occurrence of a Reinstatement Event, each Subsidiary Loan Party shall automatically be released from its Guarantee under the Loan Documents, and all security interests created by the Security Documents in Collateral owned by each Loan Party shall be automatically released, upon the occurrence of a Suspension Event.

More Definitions of Reinstatement Event

Reinstatement Event shall have the meaning provided in Section 1.15(c).

Reinstatement Event means an event or circumstance (whether alone or together with other events or circumstances) that results in the loss or destruction of, or material damage to, at least: 50% of the Maximum Capacity of the Facility (in MW); and/or 50% of the Storage Capacity of the Facility (in MWh). Related Body Corporate in relation to a corporation means a body corporate that is related to the corporation within the meaning of the Corporations Act.

Reinstatement Event means, with respect to the Company, the first to occur of (i) the Leverage Ratio on the last day of each of four (4) consecutive Fiscal Quarters being equal to or greater than 2.50:1.00, (ii) the Company’s long term unsecured credit rating from Fitch or S&P being less than Investment Grade or (iii) the Company or any of its Subsidiaries granting in favor of the Reporting Indebtedness a Lien on any of its assets or Property, including the Collateral, as security therefor and not otherwise granted equally and ratably to the Secured Parties.

Reinstatement Event means, so long as no Default or Event of Default exists at such time, the Borrower's achievement, for two consecutive fiscal quarters, of Quarterly EBITDA no less than the amount set forth below for the one fiscal quarter ending on the applicable date set forth beside such amount below:

Reinstatement Event means, at any time with respect to any Person that was a Qualified Subsidiary and was released from its Qualifying Guaranty prior to such time as a result of a Release Event, the occurrence of a borrowing by such Person of any loan under, or the issuance of any letter of credit for the benefit of such Person pursuant to, the Revolving Credit Agreement.

Reinstatement Event. “Release Event”, “Secured Parties”, “Security Documents”, and “Subsidiary Guarantees”.

Reinstatement Event means, at any time, that the Debt Rating is lower than BBB- by S&P and lower than Baa3 by Moody’s.