Collateral Event definition

Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

Collateral Event means that the unsecured and unsubordinated debt, deposit or letter of credit obligations of Party A carry an assigned rating by S&P that is below the Hedge Counterparty Collateral Threshold Rating. The "Credit Support Commencement Date" is in connection with a Collateral Rating Downgrade Event, the first Business Day following the 30-day period after the occurrence of the Collateral Rating Downgrade Event.

Collateral Event means the occurrence of any of the following events which are specified to be applicable in the Issue Terms:

Examples of Collateral Event in a sentence

• In addition, the Trust will not issue entitlement orders, redeem or otherwise take any action with respect to the Collateral or Collateral Account unless a Collateral Event (defined below under Section 5 of this Agreement) has occurred or is continuing.

• Without limiting the generality of the foregoing, the Trust shall have the right and power following any Collateral Event to receive, endorse and collect all checks and other orders for the payment of money made payable to the Advisor representing any interest payment, dividend, or other distribution payable in respect of or to the Collateral, or any part thereof, and to give full discharge for the same.

• So long as a Collateral Event has occurred and is continuing, the Board, in its discretion, may direct the Advisor or Advisor's agent to transfer the Collateral in certificated or uncertificated form into the name and account of the Trust or its designee.

• Without limiting the generality of the foregoing, the Trust shall have the right and power following any Collateral Event to receive, endorse and collect all checks and other orders for the payment of money made payable to the Advisor representing any interest payment, dividend, or other distribution payable in respect of/to the Collateral, or any part thereof, and to give full discharge for the same.

• Upon such Collateral Event, the Board, in its discretion, may direct the Advisor or Advisor's agent to transfer the Collateral in certificated or uncertificated form into the name and account of the Trust or its designee.

More Definitions of Collateral Event

Collateral Event means, with respect to an item of Appraised Collateral, any of the events described below:

Collateral Event means that neither Party A nor any Eligible Guarantor of Party A under an Eligible Guarantee has credit ratings at least equal to the Xxxxx’x First Trigger Ratings Threshold or the S&P Approved Ratings Threshold (or, in the case of an entity that is not a Financial Institution, credit ratings from S&P at least equal to the credit ratings set forth in clause (ii) of the definition of S&P Required Ratings Threshold).

Collateral Event means the date, if any, upon which each of the following events has occurred (it being understood that the decision whether or not to cause any of the following events to occur shall be within the Borrower’s sole discretion, but that no “Collateral Event” shall have occurred until all of the following are completed or the completion thereof is waived by the Administrative Agent):

Collateral Event means the failure of the Facilities to be rated at least (i) BB- by S&P and (ii) Ba3 by Moody's.

Collateral Event means, at any time after a Collateral Release Date when the 1998 Notes remain outstanding, the occurrence of an event which requires recollateralization of the 1998 Notes under the indenture governing the 1998 Notes.

Collateral Event means if at any time before the Collateral Maturity Date any Collateral becomes repayable for any reason other than a Collateral Call, including (without limitation) in accordance with the provisions of Collateral Condition 10(b) (Events of Default – Subordinated Notes).

Collateral Event means the occurrence following a Collateral Release of (a) any reduction in the credit rating assigned by S&P to any MGM Senior Notes (or, if S&P does not rate the MGM Senior Notes, its corporate rating of Borrower) to an unsecured credit rating which is below BBB- or (b) any reduction in the credit rating assigned by Moody's to any MGM Senior Notes (or, if Moody's does not rate the MGM Senior Notes, its corporate rating of Borrower) to an unsecured credit rating which is below Baa3, in either case to the extent that the same requires the granting of any Lien to the trustees for or holders of any MGM Senior Notes in any Property of Borrower or any of its Subsidiaries.