CP Disruption Event definition

CP Disruption Event means, at any time for any reason whatsoever, the Purchaser shall be unable to raise, or shall be precluded or prohibited from raising, funds through the issuance of Commercial Paper Notes in the United States' commercial paper market at such time.

CP Disruption Event means the inability of any Conduit Lender, at any time, whether as a result of a prohibition, a contractual restriction or any other event or circumstance whatsoever, to raise funds through the issuance of its commercial paper notes (whether or not constituting “Commercial Paper” hereunder) in the United States commercial paper market.

CP Disruption Event means, at any time, the inability of the Issuer to raise (whether as a result of a prohibition or any other event or circumstance whatsoever) funds through the issuance of commercial paper notes in the United States commercial paper market, including, without limitation, by virtue of (i) any disruption in the commercial paper market, (ii) insufficient availability under the liquidity or enhancement facility entered into by the Issuer with respect to this Agreement or (iii) a downgrade of the rating of one or more financial institutions extending credit to or for the account of the Issuer or having a commitment to extend credit to the Lender under a liquidity or enhancement facility which relates to this Agreement to a level lower than that required by the Rating Agencies.

Examples of CP Disruption Event in a sentence

• Furthermore, if a CP Disruption Event shall have occurred and be continuing, the Purchaser, or the Deal Agent on its behalf, may, upon notice to the Seller, terminate any Purchase Period then in effect if the Purchaser has funded the Capital allocated to such Purchase Period by issuing its commercial paper notes.

• Furthermore, if a CP Disruption Event shall have occurred and be continuing, the Purchaser, or the Deal Agent on its behalf, may, upon notice to the Transferor and the Trustee, terminate any Tranche Period then in effect if the Purchaser has funded any portion of the Principal Amount allocated to such Tranche Period by issuing its commercial paper notes.

• At all times after the Termination Date but prior to the occurrence of a Termination Event, Discount shall be calculated by reference to the CP Rate; provided that the Company may determine, from time to time, in its sole discretion (whether as a result of a CP Disruption Event or otherwise), that funding such Net Investment by means of the issuance of Commercial Paper is not possible or is not desirable for any reason.

• Furthermore, if a CP Disruption Event shall have occurred and be continuing, the relevant Lender, or the Deal Agent on its behalf, may, upon notice to the Borrower, terminate any Fixed Period then in effect if such Lender has funded the principal amount of the Advance allocated to such Fixed Period by issuing its commercial paper notes.

• Furthermore, if a CP Disruption Event shall have occurred and be continuing, the relevant Purchaser, or the Deal Agent on its behalf, may, upon notice to the Seller, terminate any Fixed Period then in effect if such Purchaser has funded the Capital allocated to such Fixed Period by issuing its commercial paper notes.

More Definitions of CP Disruption Event

CP Disruption Event means the inability of EagleFunding, at any time, whether as a result of a prohibition, a contractual restriction or any other event or circumstance whatsoever, to raise funds through the issuance of its commercial paper notes (whether or not constituting "Commercial Paper" hereunder) in the United States commercial paper market.

CP Disruption Event means, with respect to a Conduit Purchaser, that (a) such Conduit Purchaser is unable to raise funds through the issuance of Commercial Paper or (b) the Managing Agent for such Conduit Purchaser’s Ownership Group reasonably believes that it is inadvisable or impermissible for such Conduit Purchaser to raise funds through the issuance of Commercial Paper; provided, that, a CP Disruption Event with respect to a Conduit Purchaser shall cease to exist, in the case of clause (a) when such Conduit Purchaser becomes able to raise funds through the issuance of Commercial Paper, and in the case of clause (b) when such Managing Agent reasonably believes it is advisable or permissible, as the case may be, for such Conduit Purchaser to raise funds through the issuance of Commercial Paper.

CP Disruption Event means, with respect to any CP Conduit Purchaser, an event that is deemed to have occurred on the date that CRCF, the Surety Provider, the Administrator and the Administrative Agent receive notice from such CP Conduit Purchaser that such CP Conduit Purchaser is unable to raise, or is precluded or prohibited from raising, funds through the issuance of Commercial Paper and is deemed to continue until the Administrator and the Surety Provider receive notice from such CP Conduit Purchaser that such CP Conduit Purchaser is able to raise funds through the issuance of Commercial Paper.

CP Disruption Event has the meaning specified in the definition of "Non-Default Disruption Event" in this Section 1.01.

CP Disruption Event means, at any time, (i) the Senior Lender shall determine that there has been a general disruption in the United States commercial paper market or in the Senior Lender's ability to access the United States commercial paper market or (ii) the Aggregate Senior Advances (including any Senior Advances which have been requested but not yet funded) at such time which have been funded (or requested to be funded) by the Senior Lender through the issuance of its commercial paper notes exceeds the principal amount available to be drawn by the Senior Lender under the Liquidity Agreement at such time.

CP Disruption Event means, at any time for any reason whatsoever, ------------------- the Company shall be unable to raise, or shall be precluded or prohibited from raising, funds through the issuance of Commercial Paper in the United States' commercial paper market including, without limitation, by virtue of (a) insufficient availability under a Liquidity Provider Agreement entered into by the Company with respect to this Agreement or (b) a downgrade of the rating of one or more Liquidity Providers under a Liquidity Provider Agreement which relates to this Agreement to a level lower than that required by the rating agencies rating the Commercial Paper.

CP Disruption Event. The inability of MSFC at any time, whether as a result of a prohibition, a contractual restriction or any other event or circumstance whatsoever, to raise funds through the issuance of its commercial paper notes (whether or not constituting commercial paper notes issued to fund Purchases hereunder) in the United States commercial paper market.