Upgrade Event definition

Upgrade Event means any date on which the Moody's rating of the Swap Counterparty's long term or short term senior unsecured debt is upgraded from below the Required Rating to or above the Required Rating.
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Upgrade Event means Georgia-Pacific’s Debt Rating shall be BBB- or higher from S&P (provided, that, at such time, Georgia-Pacific’s Debt Rating is not lower than Ba1 from Xxxxx’x) or Baa3 or higher from Xxxxx’x (provided, that, at such time, Georgia-Pacific’s Debt Rating is not lower than BB+ from S&P).
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Upgrade Event means the passing of any Environmental Law after the Closing Date which has the effect of requiring any of the Obligors' crematoria to be upgraded in a way that will require additional capital expenditure in aggregate in excess of £1,000,000.
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Examples of Upgrade Event in a sentence

  • Within five business days after a Final Consent approving the Upgrade Event, Buyer shall make an additional payment to Seller (the "Upgrade Payment") in the amount of the difference between the C2 Purchase Price and the C3 Purchase Price.

  • In addition, within 45 days after each Quarter End Date falling after the relevant Upgrade Event, the Borrower shall supply to the Note Trustee an update as to the balance on the Upgrade Reserve Account.

  • Based on these circumstances, this report recommends that Council not refer the submissions received to this second round of public exhibition to the Planning Panel and to not proceed with Amendment C186dare in its current form.

  • If a Final Consent approving the Upgrade Event is not granted, the Purchase Price shall be deemed to be the C3 Purchase Price and Buyer shall have no obligation to pay any additional amounts with respect thereto.

  • The annual interest rate payable on the Notes will decrease back to the Coupon (Interest Rate) payable on the Notes on the Trade Date if a subsequent Upgrade Event occurs after a Downgrade Event.

  • If Seller’s Qualified Guarantor experiences an Upgrade Event, then Seller may, in its discretion, after giving Buyer ten (10) days prior notice, replace the replacement Credit Support that is in the form of a Letter of Credit with a new Guaranty from the Qualified Guarantor, in an amount equal to the applicable amount of Credit Support allowed to be in the form of a Guaranty as determined in Section 6.1(a).

  • Upon the occurrence of any "Downgrade Event" (as defined in Section 2.1(e) above), whether occurring before or after any "Upgrade Event" (as defined in Section 4 below), the Credit Agreement is hereby automatically amended as follows (without further action of the Company, the Administrative Agent or any Lender): 3.1 AMENDMENT TO SECTION 8.04(a).

  • Each adjustment required by any Downgrade Event or Upgrade Event will take effect from the first Interest Payment Date following the date on which the Downgrade Event or Upgrade Event occurs.

  • If a Final Consent approving the Upgrade Event shall not have been granted at the time of the filing of said application, Seller shall cause the appraiser selected in accordance with this paragraph (c) to establish both a C2 Appraised Value and a C3 Appraised Value.

  • This is a Contract between the County and Contractor for Irvine Lake Shoreline Fishing.


More Definitions of Upgrade Event

Upgrade Event has the meaning set forth in Section 2.1(d).
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Upgrade Event has the meaning set forth in Section 2.05(b) hereof.
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Upgrade Event means that the Credit Rating is increased to Investment Grade or higher.
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Related to Upgrade Event

  • 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.

  • ii) Event means any event described in Section 11(a)(ii) hereof.

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

  • Release Event has the meaning set forth in Section 6(b).

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

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

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Covenant Trigger Period means the period (a) commencing on the day that (i) an Event of Default occurs or (ii) Availability is less than the greater of (x) 10% of Available Credit and (y) $20,000,000 and (b) continuing until, at all times thereafter for a period of 30 consecutive days during which, (i) no Event of Default exists and (ii) Availability shall have been not less than the greater of (x) 10% of Available Credit and (y) $20,000,000.

  • Replacement Event shall have the meaning specified in Section 11.16.

  • Control Appraisal Period shall exist with respect to the Mortgage Loan, if and for so long as:

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

  • Notice Event means any of the events enumerated in paragraph (b)(5)(i)(C) of the Rule and listed in Section 4(a) of this Disclosure Agreement.

  • Delinquency Event A Delinquency Event shall have occurred with respect to any Distribution Date if the Rolling Three Month Delinquency Rate as of the last day of the immediately preceding calendar month equals or exceeds 53.00% of the Senior Enhancement Percentage for such Distribution Date.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

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

  • 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.

  • Reduction Event means any of the following:

  • Sequential Trigger Event With respect to any Distribution Date, a Sequential Trigger Event is in effect if (a) with respect to any Distribution Date occurring before July 2009, the circumstances in which the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date exceeds 0.20% and (b) with respect to any Distribution Date occurring in or after July 2009, a Trigger Event is in effect.

  • Maintenance Period shall have the meaning set forth in Clause 14.1; “Maintenance Requirements” shall have the meaning set forth in Clause 14.2;

  • Trigger Period means the period commencing on the first public announcement by the Issuer 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 the Change of Control; provided, that if the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies, such 60-day period shall be extended until the first to occur of (x) the date that such Rating Agency announces the results of its review and (y) the date that is 180 days after consummation of the Change of Control.

  • Delinquency Trigger Event means, for any Collection Period, the aggregate Principal Balance of Delinquent Receivables that have been Delinquent Receivables for 61 days or more as a percentage of the Pool Balance as of the last day of the Collection Period exceeding or being equal to 6.62%.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • LCA Test Date has the meaning specified in Section 1.03(e).

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • 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.

  • Index Replacement Event means each of the following events: