Investment Grade Rating Date definition

Investment Grade Rating Date means the date on which the Borrower first obtains an Investment Grade Rating.

Investment Grade Rating Date means, at any time after the Borrower has received an Investment Grade Rating from either S&P or Moody’s, the date specified by the Borrower in a written notice to the Administrative Agent and the Lenders as the date on which it irrevocably elects to have the Applicable Margin and Facility Fee determined based on the Borrower’s Credit Rating.

Investment Grade Rating Date means, the date on which the Borrower or NSA REIT first obtains an Investment Grade Rating from at least two of the Rating Agencies, including, for the avoidance of doubt, either Xxxxx’x and/or S&P.

Examples of Investment Grade Rating Date in a sentence

• Prior to the Investment Grade Rating Date, the Borrower will not declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, during the occurrence and continuance of an Event of Default, or if an Event of Default would result therefrom.

• Prior to the Investment Grade Rating Date, the interest due hereunder with respect to the Advances shall vary from time to time and shall be determined by reference to the Type of Advance and the then-current Leverage Ratio.

• This Section 8.02(c)(i) shall cease to be applicable on the Investment Grade Rating Date as defined in the Revolving Credit Agreement (the “Revolving Credit Agreement Investment Grade Rating Date”).

• The Borrower shall not permit the outstanding principal amount of Priority Debt, as of the last day of any fiscal quarter, beginning with the last day of the fiscal quarter in which the Investment Grade Rating Date occurs, to exceed an amount equal to 15% of Consolidated Net Tangible Assets as of such date.

• At all times prior to the Investment Grade Rating Date, but subject to the last sentence of Section 8.13(a), the Borrower shall ensure that at least ninety percent (90%) of the Unencumbered Asset Value is attributable to Eligible Unencumbered Properties owned or leased under a Ground Lease by Material Subsidiary Guarantors and/or Other Subsidiary Guarantors.

More Definitions of Investment Grade Rating Date

Investment Grade Rating Date means the date that the MLP receives a Debt Rating from each of S&P, Fitch and Xxxxx’x and either (a) all such Debt Ratings are Investment Grade Ratings, or (b) one such Debt Rating is an Investment Grade Rating and the other two Debt Ratings are not less than BB+ in the case of S&P and Fitch and Ba1 in the case of Xxxxx’x.

Investment Grade Rating Date means the date on which Xxxxxxxx receives at least one Investment Grade Rating from either S&P or Xxxxx’x.

Investment Grade Rating Date means the date on which the Borrower first obtains a Designated Rating of Baa3 or better from Xxxxx’x or BBB- or better from S&P.

Investment Grade Rating Date means the date on which the Borrower first obtains an Investment Grade Rating. “Laws” means all ordinances, statutes, rules, regulations, orders, injunctions, writs, treaties or decrees of any

Investment Grade Rating Date means the date on which (a) the corporate credit rating assigned to the Borrower is an Investment Grade Rating; (b) no Default shall have occurred and be continuing; and (c) all Term B Loans, Term D Loans and Term F Loans shall have been repaid in full.

Investment Grade Rating Date means, the date specified by the Borrower in a written notice to the Administrative Agent after the Parent or the Borrower obtains an Investment Grade Rating from any of Moody’s, S&P or Fitch.

Investment Grade Rating Date means the date on which the Parent first obtains an Investment Grade Rating. “L/C Commitment Amount” equals $40,000,000.