Step Up Event definition

Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

Step Up Event means a No Rating Step Up Event or a Downgrade Step Up Event.

Step Up Event means the first public announcement by any Rating Agency of a Rating Decrease.

Examples of Step Up Event in a sentence

• If the Anglian Water Group fails to meet certain Sustainability Performance Targets as specified in the applicable Final Terms in relation to these Key Performance Indicators, a Step Up Event will occur, as a result of which a Step Up Margin will be applied.

• Step Up Notes may be issued which are linked to certain Key Performance Indicators and in relation to which a Step Up Event may trigger the payment of a Step Up Margin, meaning that payment of amounts in respect of the Notes may vary depending on the Anglian Water Group’s actual performance in respect of the Key Performance Indicators.

• The occurrence of a Step Up Event will be notified by the Issuer to the Agent and, in accordance with Condition 13 (Notices), the Noteholders on the Step Up Event Notification Date.

• The Rate of Interest for Step Up Notes will be the Initial Rate of Interest specified in the applicable Final Terms, provided that for any Interest Period commencing on or after the Interest Payment Date immediately following a Step Up Event, if any, the Rate of Interest shall be increased by the Step Up Margin specified in the applicable Final Terms.

• The Rate of Interest for Sustainability-Linked Notes will be the Rate of Interest specified in, or determined in the manner specified in, the applicable Final Terms, provided that if a Step Up Event has occurred, then for any Interest Period commencing on or after the Step Up Date the Rate of Interest (in the case of Fixed Rate Notes) or the Margin (in the case of Floating Rate Notes) shall be increased by the Step Up Margin.

More Definitions of Step Up Event

Step Up Event means a failure to meet the Minimum Rating Requirement at any time; and "Step Up Margin" has the meaning given to it in the Final Terms.

Step Up Event means, where the Step Up Option is selected as Applicable in the relevant Final Terms, the occurrence of one or more of a Scope 1 and 2 GHG Emissions and Scope 3 GHG Emissions from Fuel and Energy-related Activities Event, a Scope 3.1 and 3.2 GHG Emissions from Purchased Goods and Services and Capital Goods Event, a Renewable Electricity Sourcing Event and/or Gender Diversity Performance Event, as specified in the relevant Final Terms;

Step Up Event means the occurrence of either (a) a Renewable Installed Capacity Event; and/or (b) a Net Carbon Footprint Upstream Event; and/or (c) a Net GHG Lifecycle Emissions Event; and/or (d) a Net Carbon Intensity Event, in each case, as so specified in the relevant Final Terms.

Step Up Event means that the Carbon Intensity Reduction Rate of the Issuer’s loan portfolio as defined in the Sustainability-Linked Bond Framework falls short of the percentage of [insert relevant percentage level] as of 31 December [insert relevant year], as further set out in the Annual Sustainability-Linked Bond Report, as certified in the relevant Verification Assurance Certification.

Step Up Event means either an Installed Capacity Event or a Direct Green House Gas Emissions Event, as specified in the applicable Final Terms;

Step Up Event means the occurrence as of any Reporting Date of any of the following events: (i) the arithmetic mean of the Serviced Portfolio Net Loss Ratio (Prime) for the three previous Collection Periods is greater than 3.50%; (ii) the arithmetic mean of the Conduit Portfolio Net Loss Ratio (Prime) for the three previous Collection Periods is greater than 3.00% (provided, that no Step-up Event will occur under this clause (ii) if a Significant Take-out Date occurred during any of such three Collection Periods); (iii) the arithmetic mean of the Serviced Portfolio Net Loss Ratio (Non-Prime) for the three previous Collection Periods is greater than 6.00%;

Step Up Event means the forty-fifth (45th) day following the occurrence of a Project Participant Payment Default if such Project Participant Payment Default has not been cured by that date, regardless of whether or not notice was given to the Defaulted Project Participant under the Project Participation Share Agreement or otherwise or by Buyer hereunder.