Debt Distress definition
Debt Distress. 1, with respect to the Issuer, shall mean (a) the Issuer shall be receiving financial support from the IMF pursuant to an upper tranche arrangement or facility (a “Financial Support Program”) or shall be subject to a Financial Support Program, [(b) the IMF shall have publicly stated the Issuer risk of sovereign stress is classified as “high” or [“unsustainable”] pursuant to the MAC SRDSF;]2 [(b) the IMF shall have publicly stated that the Issuer is under “debt distress” or at “high risk of debt distress” pursuant to the DSF;]3 and [(c) [•]4]; provided that [if at any time the IMF discontinues [MAC SRDSF][DSF], the definition of Debt Distress shall no longer include clause [b]].