Examples of Investment Grade Status in a sentence
However, the provisions of Condition 4.2(a) shall immediately apply if and for so long as Majid Al Futtaim Holding ceases to have Investment Grade Status.
The provisions of Condition 4.2(a) shall not apply for so long as Majid Al Futtaim Holding has Investment Grade Status.
No action taken during an Investment Grade Status Period or prior to an Investment Grade Status Period in compliance with the covenants then applicable will constitute a Default or an Event of Default under the Notes in the event that suspended covenants and provisions are subsequently reinstated or suspended, as the case may be.
Condition 6.4. Covenants and other provisions of these Conditions that are suspended during an Investment Grade Status Period will be immediately reinstated and will continue to exist during any period in which the Notes do not have Investment Grade Status.
For the avoidance of doubt, an Investment Grade Status Period will not commence until the Issuer has provided written notice to the Trustee in accordance with this Condition 7.1. For purposes of this Condition, “Investment Grade Status” exists as of any time if at such time the Notes have been assigned at least two of the following ratings: (x) BBB- or higher by S&P, (y) Baa3 or higher by Moody’s or (z) BBB- or higher by Fitch.