T&D Downgrade Event definition

T&D Downgrade Event shall have the meaning set forth in Section 16.2(a) hereof.
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T&D Downgrade Event has the meaning set forth in Section 5.1(a).
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T&D Downgrade Event has the meaning set forth in Section 5.1.1. “Term” has the meaning set forth in Section 3.2.
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Examples of T&D Downgrade Event in a sentence

  • If, at any time during the Term of this Agreement, the Credit Rating assigned to T&D by a Rating Agency falls below Investment Grade (a “T&D Downgrade Event”), then T&D shall promptly notify Seller of such T&D Downgrade Event and shall deliver to Seller credit support in a form that meets the definition of Replacement Security within five (5) Business Days of such T&D Downgrade Event in an amount equal to T&D’s Exposure.

  • If a T&D Downgrade Event has occurred and T&D’s net worth is greater than two hundred seventy-five million United States dollars ($275,000,000) then Seller shall have the right to petition the Commission to require T&D to post the T&D Credit Support.

Related to T&D Downgrade Event

  • Ratings Event means (i) 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 one or more Rating Agencies (unless the applicable Rating Agency shall have put forth a written statement to the effect that such downgrade or withdrawal is not attributable in whole or in part to the applicable Change of Control) and (ii) the Notes do not have an Investment Grade Rating from any Rating Agency.

  • Rating Downgrade means either:

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Rating Date means the date which is 90 days prior to the earlier of (a) a Change of Control or (b) public notice of the occurrence of a Change of Control or of the intention by the Issuers to effect a Change of Control.