Downgrade Draw definition

Downgrade Draw is defined in Section 3.2(a).
Sample 1Sample 2Sample 3
Downgrade Draw. The meaning specified in Section 3.08(c).
Sample 1Sample 2Sample 3
Downgrade Draw is defined in Section 7.2(a) hereof.
Sample 1Sample 2

Examples of Downgrade Draw in a sentence

  • Mundelein has been a member of this governmental self-insurance risk pool since 1986.

  • If any Committed Investor shall be required pursuant to Section 3.2(a) to fund a Downgrade Draw, then its Managing Agent shall apply the monies in the Downgrade Collateral Account applicable to such Committed Investor’s share of Investments and L/C Borrowings required to be made by the Committed Investors and to any Assignment Amount payable by such Committed Investor pursuant to Section 3.1 at the times, in the manner and subject to the conditions precedent set forth in this Agreement.

  • To the extent that there are any earnings from the Eligible Investments purchased with the proceeds of a Downgrade Draw, such Class A-1-R Noteholder may receive such earnings upon request therefor without regard to the Priority of Payments.

  • If any Committed Investor shall be required pursuant to Section 3.2(a) to fund a Downgrade Draw, then its Managing Agent shall apply the monies in the Downgrade Collateral Account applicable to such Committed Investor’s share of Investments required to be made by the Committed Investors and to any Assignment Amount payable by such Committed Investor pursuant to Section 3.1 at the times, in the manner and subject to the conditions precedent set forth in this Agreement.

  • But what has come out strongly of the study is that local people are aware that the GSBAs will give them benefits in the long run but in the short term they there are several costs that they will have to sustain, especially the loss of access to some resources in the forest reserves, particularly land for farming and community expansion and development.

  • If any Alternate Lender in any Lender Group shall be required pursuant to subsection (a) to fund a Downgrade Draw, then the related Managing Agent shall apply the monies in the Downgrade Collateral Account applicable to such Alternate Lender’s share of Loans required to be made by the related Alternate Lenders, to any Assignment Amount payable by such Alternate Lender pursuant to Section 7.1 at the times, in the manner and subject to the conditions precedent set forth in this Credit Agreement.

  • Subject to Sections 3.07(d) and 5.02 and except with respect to Borrowings made upon a Downgrade Draw and deposited in a Class A-R Rating Requirement Funding Account for so long as such amounts remain on deposit therein, each Class A‑R Noteholder shall fund its Pro Rata Share of each Borrowing requested by the Issuer hereunder by wire transfer of immediately available funds by 3:00 p.m. (New York time) on the applicable Class A-R Borrowing Date, to a specified Account under the Indenture.

  • The Holder will be required to fund the Downgrade Draw in full (minus any cash collateral on deposit in the Class A-1 Funding Account) not later than the third Business Day following notice of the Downgrade Draw.

  • Downgrade Draws If the Downgrade Draw Trigger is reached with respect to any Holder of an interest in Class A-1 Senior Revolving Notes, then such Holder, within 30 days after reaching such trigger, will be required to (i) assign its interest to a Person who satisfies the Rating Criteria and satisfies the other transfer restrictions set forth in the Class A-1 Note Purchase Agreement or (ii) find a guarantor that satisfies the Rating Criteria.

  • Any Downgrade Draw will be deposited in an account held by the Trustee (the "Downgrade Draw Account").


More Definitions of Downgrade Draw

Downgrade Draw means the requirement for each of the Class A1-D Noteholders and Class A3 Noteholders to deposit cash with the Issuer in an amount equal to their respective Class A1-D Pro Rata Share of the Class A1-D Available Commitment or Class A3 Pro Rata Share of Class A3 Available Commitment, as applicable, upon failure by it to satisfy the A1-D Rating Criteria or A3 Rating Criteria,as applicable, in accordance with the terms of the Class A1-D Note Purchase Agreement or Class A3 Note Purchase Agreement;
Sample 1Sample 2
Downgrade Draw has the meaning set forth in Section 15.2.
Sample 1Sample 2
Downgrade Draw is defined in Section 2.11.
Sample 1
Downgrade Draw is defined in Clause 2.9(a)(ii) (Downgrade of Liquidity Risk) of the Liquidity Agreement.
Sample 1
Downgrade Draw means each cash deposit with the Issuer made by a Class A3 Noteholder in an amount equal to its Class A3 Pro rata Share of the Class A3 Available Commitment upon failure by it to satisfy the Class A3 Rating Criteria in accordance with the terms of the Class A3 Note Purchase Agreement;
Sample 1
Downgrade Draw is defined in Section 3.2(a). -------------- -------------
Sample 1

Related to Downgrade Draw

  • Downgrade Drawing has the meaning assigned to such term in Section 3.6(c).

  • Downgrade Advance means an Advance made pursuant to Section 2.02(c).

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • Unapplied Downgrade Advance means any Downgrade Advance other than an Applied Downgrade Advance.

  • Applied Downgrade Advance has the meaning assigned to such term in Section 2.06(a).

  • Required Ratings Downgrade Event means that no Relevant Entity has credit ratings at least equal to the Required Ratings Threshold.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Downgrade means the removal of a person's privilege to operate a commercial motor vehicle, as

  • Rating Downgrade means either:

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Downgraded Lender any Lender that has a non-investment grade senior unsecured debt rating from Xxxxx’x, S&P or another nationally recognized rating agency.

  • Liquidity Amount means, as of any date of determination, the sum of (a) the Aggregate Borrowing Availability as of such date and (b) the Unrestricted Cash Amount as of such date.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time short-term debt ratings in one of the two highest rating categories from the Requisite NRSROs.

  • Downgraded Facility “Downgrade Event”, “Equipment Notes”, “Fee Letter”, “Final Legal Distribution Date”, “Financing Agreement”, “Investment Earnings”, “Liquidity Facility”, “Liquidity Obligations”, “Loan Trustee”, “Non-Extended Facility”, “Note Purchase Agreement”, “Operative Agreements”, “Participation Agreement”, “Performing Equipment Note”, “Person”, “Pool Balance”, “Rating Agencies”, “Regular Distribution Date”, “Replacement Liquidity Facility”, “Responsible Officer”, “Scheduled Payment”, “Special Payment”, “Stated Interest Rate”, “Subordination Agent”, “Taxes”, “Threshold Rating”, “Transfer”, “Trust Agreement”, “Trustee”, “Underwriters”, and “Underwriting Agreement”.

  • Liquidity Condition means and will exist during the period from (1) the date on which Excess Availability has been less than the greater of (a) $30.0 million and (b) 10.0% of the Line Cap then in effect, in either case, for five consecutive Business Days, to (2) the date on which Excess Availability has been at least equal to the greater of (a) $30.0 million and (b) 10.0% of the Line Cap then in effect, in either case, for 20 consecutive calendar days.

  • Replacement Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Final Drawing has the meaning specified in Section 3.05(i).

  • Class B Liquidity Facility has the meaning set forth in the Intercreditor Agreement.

  • Liquidity Facility Provider means a Person that is a party to a Liquidity Facility with the Authority with respect to specified Bonds and whose credit rating by each nationally recognized Rating Agency then rating the Class I Bonds is sufficiently high to maintain the then current rating on such Bonds by such Rating Agency or the equivalent of such rating by virtue of guarantees or insurance arrangements.

  • Investment Grade Certificate As of any date of determination, a Certificate that is rated in one of the four highest generic rating categories by at least one Rating Agency that is defined as a “Rating Agency” under Section III of the Exemption.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Minimum Credit Enhancement Test With respect to any Payment Date, a test that will be satisfied if the Subordinate Percentage is greater than or equal to 6.00%.

  • Liquidity Facility “Liquidity Obligations”, “Loan Trustee”, “Non-Extended Facility”, “Note Purchase Agreement”, “Operative Agreements”, “Participation Agreement”, “Performing Equipment Note”, “Person”, “Pool Balance”, “Rating Agencies”, “Regular Distribution Date”, “Replacement Liquidity Facility”, “Responsible Officer”, “Scheduled Payment”, “Special Payment”, “Stated Interest Rate”, “Subordination Agent”, “Taxes”, “Threshold Rating”, “Transfer”, “Trust Agreement”, “Trustee”, “Underwriters”, and “Underwriting Agreement”.

  • Ratings Decline Period means the period that (i) begins on the earlier of (a) the date of the first public announcement of the occurrence of a Change of Control and (b) the occurrence of a Change of Control and (ii) ends 90 days following consummation of such Change of Control; provided that such period shall be extended for so long as the rating of the Notes, as noted by the applicable Rating Agency, is under publicly announced consideration for downgrade by the applicable Rating Agency.

  • Rating Date means the date which is 90 days prior to the earlier of (i) a Change in Control and (ii) public notice of the occurrence of a Change in Control or of the intention of the Company to effect a Change in Control.