Effectiveness of Covenants. (a) Following the first day:
Effectiveness of Covenants. (a) After the Issue Date, following the first day: (i) the Notes have an Investment Grade Rating from both of the Ratings Agencies; and (ii) no Default has occurred and is continuing under this Indenture; the Company and its Restricted Subsidiaries will not be subject to Sections 4.10, 4.11, 4.13, 4.14, 4.16 and 5.01(a)(ii) of this Indenture (collectively, the “Suspended Covenants”).
Effectiveness of Covenants. (a) At any time after the Notes have received Investment Grade Ratings from two Rating Agencies (a “Covenant Suspension Event”), upon notice by the Issuer to the Trustee certifying that a Covenant Suspension Event has occurred and that at the time of the giving of such notice no Default has occurred and is continuing under this Indenture (a “Covenant Suspension Event Notice”), then, beginning on the day such notice is given and continuing until the Reversion Date (as defined below), the Issuer and its Restricted Subsidiaries shall not be subject to the following Sections of this Indenture (collectively, the “Suspended Covenants”):
Effectiveness of Covenants. (a) The first day (such date, a “Suspension Date”) on which:
Effectiveness of Covenants. The covenants set forth in Sections 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.10, 4.11, 4.13 and 4.15 will no longer be in effect upon the Company attaining Investment Grade Status (the “Terminated Covenants”). The Terminated Covenants will not be reinstated regardless of whether the Company’s credit rating is subsequently downgraded from Investment Grade Status.
Effectiveness of Covenants. Following the first Business Day on which:
Effectiveness of Covenants. (a) After the Issue Date, following the first day: (i) the Notes have an Investment Grade Rating from both Rating Agencies; and (ii) no Default has occurred and is continuing under this Indenture; the Company and its Restricted Subsidiaries shall not be subject to Sections 3.3, 3.4, 3.6, 3.7, 3.8, 3.10 and 4.1(a)(iv) (collectively, the “Suspended Covenants”). Additionally, upon the commencement of a Suspension Period (as defined below), the amount of Excess Proceeds will be reset to zero.
Effectiveness of Covenants. If on any date following the Issue Date (1) the Notes have Investment Grade Status; and (2) no Default or Event of Default shall have occurred and be continuing, then, beginning on that day and subject to the provisions of this Section 4.13, the covenants set forth in Sections 4.03, 4.04, 4.05, 4.06, 4.08, 4.10, 4.12, 4.14 and clause (iii) of Section 5.01 (and the certification requirement in clause (iv) with respect to clause (iii)) (collectively, the “Suspended Covenants”) will be suspended. Additionally, the Events of Default in Section 6.01(c) and 6.01(d) shall be suspended with respect to all of the Suspended Covenants. During any period that the covenants have been suspended pursuant to this Section 4.13, the Company’s Board of Directors may not designate any of its Subsidiaries as Unrestricted Subsidiaries. In the event that one (or both) of the ratings assigned by the ratings agencies should subsequently decline such that the Notes no longer have Investment Grade Status, the foregoing covenants will be reinstituted as of and from the date of such rating decline (any such date, a “Reversion Date”). The period of time between the suspension of covenants as set forth above and the Reversion Date is referred to as the “Suspension Period.” Notwithstanding the reinstatement of the Suspended Covenants, no Default or Event of Default will be deemed to have occurred as a result of a failure to comply with the Suspended Covenants during the Suspension Period (or upon termination of the Suspension Period or after that time based solely on events that occurred during the Suspension Period). All Indebtedness Incurred (including Acquired Indebtedness) and Preferred Stock and Disqualified Stock issued during the Suspension Period will be deemed to have been Incurred or issued in reliance on the exception provided by clause (5)(x) of Section 4.03(a) (and may be refinanced under the exception provided by clause (3) of Section 4.03(a)). In addition, all business engaged in during the Suspension Period will be deemed to be Related Business on and after the Reversion Date for purposes of Section 4.12. Calculations under the reinstated Section 4.04 will be made as if Section 4.04 had been in effect prior to, but not during, the period that Section 4.04 was suspended as set forth above; provided, for the sake of clarity, that no Default will be deemed to have occurred by reason of a Restricted Payment made while that covenant was suspended. For purposes of determining c...
Effectiveness of Covenants. (a) From and after the occurrence of an Investment Grade Rating Event (such date, a “Suspension Date”), the Company and its Restricted Subsidiaries will not be subject to Section 4.07, Section 4.08, Section 4.09, Section 4.10, Section 4.11, Section 4.16, Section 4.17 (but only with respect to any Person that is required to become a Subsidiary Guarantor after the date of the commencement of the applicable Suspension Date) and Section 5.01(a)(4) of this Indenture (collectively, the “Suspended Covenants”).
Effectiveness of Covenants. (a) If on any date following the Issue Date:
