Investment Grade Rating Period definition

Investment Grade Rating Period means, after (i) the consummation of the Acquisition (or the express statement by Xxxxx'x and S&P that the same has been taken into account in reaffirming or announcing the ratings referred to in clause (ii) below) and (ii) the date after the date hereof on which both Moody's and S&P shall have first either reaffirmed or announced revised ratings for the Senior Long Term Debt, any period during which the rating of the Senior Long Term Debt is BBB- or higher by S&P (or a Substitute Rating is at the corresponding rating level or higher) and Baa3 or higher by Moody's (or a Substitute Rating is at the corresponding rating level or higher).
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Investment Grade Rating Period means any period from an Investment Grade Rating Date until the date immediately preceding a subsequent Non-Investment Grade Rating Date.
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Investment Grade Rating Period means, subject to the terms and conditions set forth below in this definition, a period during which the S&P Credit Rating is BBB or above or the Moody's Credit Rating is Baa2 or above. In the event that none of the Borrower's senior unsecured debt is rated by the Rating Agencies, the Borrower's implied senior debt rating as stated by the Rating Agencies shall be utilized. In the event that none of the Rating Agencies state a senior debt rating or an implied senior debt rating for the Borrower, no Investment Grade Rating Period shall exist. If only one of a Moody's Credit Rating and an S&P Credit Rating exists at any time or only one Rating Agency states an implied senior debt rating for the Borrower (and for which no alternate implied senior debt rating is available), then such Credit Rating shall be utilized. In the event of a split rating of two or more rating levels, the rating level one below the higher rating will apply. If any credit rating shall be downgraded by Moody's or S&P, such change shall be effective for purposes of this definition as of the Business Day on which such change in credit rating is announced by Moody's and/or S&P, as the case may be, provided that nothing herein shall relieve the Borrower of its obligation to notify the Banks of any such change pursuant to Section 7.01(i). If any credit rating shall be upgraded by Moody's or S&P, such change shall be effective for purposes of this definition as of the Business Day upon which the Banks receive notice of any such change pursuant to Section 7.01(i).
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Examples of Investment Grade Rating Period in a sentence

  • Upon the end of any Investment Grade Rating Period, the Borrowing Base will be the most recent Borrowing Base in effect until the next Redetermination Date, subject to further adjustments from time to time pursuant to Sections 2.07(e) and 2.07(f).

  • The Parent Guarantor will not permit, as of the last day of any fiscal quarter during an Investment Grade Rating Period, the Asset Coverage Ratio to be less than the Asset Coverage Minimum; provided that the Parent Guarantor shall not be required to comply with the requirements of this Section 9.01(c) upon or after the occurrence of a Double Investment Grade Rating Event.

  • A challenge shall be made in writing, and delivered to the commission, prior to the end of the notice period.

  • Notwithstanding anything in this Agreement to the contrary, during any Investment Grade Rating Period, the provisions of clauses (a) through (f) of this Section 2.07 (and any other provision elsewhere herein relating to the Borrowing Base) will be inapplicable and shall be disregarded for all purposes.

  • For purposes of the covenants contained in the above-listed Sections, no action taken during any Investment Grade Rating Period shall result in a violation of any such obligation solely as a result of the reinstatement of such obligation.

  • Notwithstanding any provision of this Agreement or any other Loan Document to the contrary, in the event an Investment Grade Rating Period shall terminate, no event, circumstance or transaction arising or occurring during such Investment Grade Rating Period shall be deemed to conflict with, or cause a Default or Event of Default in respect of, any of the representations, warranties or covenants that did not apply during such Investment Grade Rating Period.

  • During any time which is not an Investment Grade Rating Period, the Revolving Facility shall be subject to a Borrowing Base.


More Definitions of Investment Grade Rating Period

Investment Grade Rating Period means the Guarantor’s long-term senior unsecured indebtedness is rated Baa3 or higher by Xxxxx’x and BBB- or higher by S&P.
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Related to Investment Grade Rating Period

  • Investment Grade Rating means a rating equal to or higher than Baa3 (or the equivalent) by Xxxxx’x and BBB- (or the equivalent) by S&P, or an equivalent rating by any other nationally recognized statistical rating agency selected by the Borrower.

  • Investment Grade Rating Event means the first day on which the Notes have an Investment Grade Rating from each Rating Agency, and no Default has occurred and is then continuing under this Indenture.

  • Investment Grade Ratings means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P, provided that no negative watch is placed on such rating.

  • Below Investment Grade Rating Event means the rating on the Notes is lowered in respect of a Change of Control and the Notes are rated below Investment Grade by both Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of a Change of Control (which period shall be extended until the ratings are announced if during such 60 day period the rating of the Notes is under publicly announced consideration for possible downgrade by either of the Rating Agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Company in writing at its request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event).

  • Below Investment Grade Ratings Event means, with respect to the Notes on any day within the 60-day period (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (1) the occurrence of a Change of Control; or (2) public notice of the occurrence of a Change of Control or the intention by the Company to effect a Change of Control, the Notes are rated below Investment Grade by each of the Rating Agencies. Notwithstanding the foregoing, a Below Investment Grade Ratings Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Ratings Event for purposes of the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in rating to which this definition would otherwise apply do not announce or publicly confirm or inform the Trustee in writing at the Company’s request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Ratings Event).

  • Lowest Adjacent Grade (LAG means the elevation of the ground, sidewalk or patio slab immediately next to the building, or deck support, after completion of the building.

  • Highest Adjacent Grade (HAG means the highest natural elevation of the ground surface, prior to construction, immediately next to the proposed walls of the structure.

  • Investment Grade Status shall occur when the Notes receive two of the following:

  • Investment Grade Credit Rating means (i) a Credit Rating of Baa3 or higher given by Xxxxx’x, (ii) a Credit Rating of BBB- or higher given by S&P or (iii) a Credit Rating of BBB- or higher given by Fitch.

  • S&P Rating means, at any time, the rating issued by S&P and then in effect with respect to the Borrower’s senior unsecured long-term public debt securities without third-party credit enhancement (it being understood that if the Borrower does not have any outstanding debt securities of the type described above but has an indicative rating from S&P for debt securities of such type, then such indicative rating shall be used for determining the “S&P Rating”).

  • Moody’s Rating means, at any time, the rating issued by Moody's and xxxx xx effect with respect to the Borrower's senior unsexxxxx xong-term debt securities without third-party credit enhancement.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • 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.

  • Rating period means the calendar period for which premium rates established by a small employer carrier are assumed to be in effect.

  • Investment Grade means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor rating categories of S&P); and the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

  • Xxxxx’x Rating means, at any time, the rating issued by Xxxxx’x and then in effect with respect to the Borrower’s senior unsecured long-term debt securities without third-party credit enhancement.

  • Mxxxx’x Rating means, with respect to a Reference Obligation, as of any date of determination:

  • Moody’s First Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A2” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-1”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A1”.

  • Approved Ratings Threshold means each of the S&P Approved Ratings Threshold and the Moody’s First Trigger Ratings Threshold.

  • Index Debt Rating means the S&P Rating, the Xxxxx’x Rating and the Fitch Rating.

  • Investment Grade Securities means:

  • Highest adjacent grade means the highest natural elevation of the ground surface prior to construction next to the proposed walls of a structure.

  • Adverse Rating Event With respect to any Class of Rated Certificates and any Rating Agency that has assigned a rating thereto, as of any date of determination, the qualification, downgrade or withdrawal of the rating then assigned to such Class of Rated Certificates by such Rating Agency (or the placement of such Class of Rated Certificates on “negative credit watch” status in contemplation of any such action with respect thereto).

  • Required Ratings [Ratings] Closing Date, Location and Time: ___________ ___, 20___; offices of Cadwalader, Wickersham & Taft, LLP, New Xxxx, Xxx Yorx; 00:00 a.m. New York City time. Purchase Price for the Offered Certificates: Class Percent of Initial Aggregate ----- Principal Balance ------------------------------ Class A % Classes B-1, B-2 and B-3 % In eaxx xxxx, as offered and sold pursuant to this Terms Agreement, plus accrued interest, if applicable, thereon. Notwithstanding any other provision of the above-referenced Underwriting Agreement, all references to the Registration Statement in the Underwriting Agreement shall be with reference to File No. _________. Subject to the terms and conditions and in reliance upon the representations and warranties set forth in the above-referenced Underwriting Agreement (which is incorporated herein in its entirety and made a part hereof) as supplemented by this Terms Agreement, the Seller agrees to sell to the Underwriter, and the Underwriter agrees to purchase from the Seller, the Offered Certificates. The Underwriter has been retained solely to act as underwriter in connection with the sale of the Offered Certificates to investors (including the establishment of the price of the Offered Certificates to investors), and no fiduciary, advisory or agency relationship between Seller and the Underwriter has been created in respect of any of the transactions contemplated by this Terms Agreement, irrespective of whether the Underwriter has advised or is advising Seller on other matters. * * * If the foregoing is in accordance with your understanding of our agreement, please sign and return to the undersigned a counterpart hereof, whereupon this letter and your acceptance shall represent a binding agreement by and among the Seller, Wells Fargo Bank, N.A. and the Underwriter. Very truly yours, WELLS FARGO ASSET SECURITIES XORPORATION By: -------------------------------------- Name: Title: WELLS FARGO BANK, N.A. By: -------------------------------------- Name: Title: The foregoing Terms Agreement is hereby confirmed and accepted as of the date first above written. COUNTRYWIDE SECURITIES CORPORATION By: ----------------------------------- Name: Title: SUPPLEMENTAL INFORMATION With respect to any investor, "Supplemental Information" means any of the following types of information, to the extent omitted from the Issuer Free Writing Prospectus:

  • Initial Rating With respect to the Secured Notes, the rating or ratings, if any, indicated in Section 2.3.

  • approved rating means, for a security, a rating at or above one of the following rating categories issued by an approved rating organization for the security or a rating category that replaces a category listed below: