Negative Certification definition
Negative Certification means, on the occurrence of an NGET Restructuring Event, such event or events being certified in writing by an independent financial adviser appointed by NGET and approved by the Trustee (or, if NGET shall not have appointed such an adviser within 21 days after becoming aware of the occurrence of such NGET Restructuring Event, appointed by the Trustee (following consultation with NGET)) as being in its opinion materially prejudicial to the interests of the Instrumentholders. Any Negative Certification by an independent financial adviser as to whether or not, in its opinion, any event defined as an NGET Restructuring Event is materially prejudicial to the interests of the Instrumentholders shall, in the absence of manifest error, be conclusive and binding upon NGET, the Trustee, the Instrumentholders and the Couponholders;
Negative Certification means, on the occurrence of an NGET Restructuring Event, such event or events being certified in writing by an independent financial adviser appointed by NGET and approved by the Trustee (or, if NGET shall not have appointed such an adviser within 21 days after becoming aware of the occurrence of such NGET Restructuring Event,
Negative Certification means, on the occurrence of an NGET Restructuring Event, such event or events being certified in writing by an independent financial adviser appointed by NGET and approved by the Trustee (or, if NGET shall not have appointed such an adviser within 21 days after becoming aware of the occurrence of such NGET Restructuring Event, appointed by the Trustee (following consultation with NGET)) as being in its opinion materially prejudicial to the interests of the Instrumentholders. Any Negative Certification by an independent financial adviser as to whether or not, in its opinion, any event defined as an NGET Restructuring Event is materially prejudicial to the interests of the Instrumentholders shall, in the absence of manifest error, be conclusive and binding upon NGET, the Trustee, the Instrumentholders and the Couponholders; “Negative Rating Event” shall be deemed to have occurred if NGET is unable as a result of an NGET Restructuring Event to obtain a rating of the Instruments or of any other comparable unsecured and unsubordinated debt of NGET (or of any Subsidiary of NGET and which is guaranteed on an unsecured and unsubordinated basis by NGET) having an initial maturity of five years or more (“Rateable Debt”) from a Rating Agency of at least investment grade (BBB-/Baa3, or their respective equivalents for the time being), which rating NGET shall use all reasonable endeavours to obtain, provided that a Negative Rating Event shall not be deemed to have occurred in respect of a particular NGET Restructuring Event if the Rating Agency making the relevant reduction or declining to assign a rating of at least investment grade (as described above) does not announce or publicly confirm or otherwise inform the Trustee that the reduction or its declining to assign a rating of at least investment grade was the result, in whole or in part, of any event or circumstance comprised in or arising as a result of, or in respect of, the applicable NGET Restructuring Event;
Examples of Negative Certification in a sentence
Negative Certification of Outstanding Debts (Form SC-6096); or evidence of a payment plan, issued by the Treasury Department of the Commonwealth of Puerto Rico.
The APPEARER T▇▇ PARTICIPAÇÕES S.A. presented Negative Certification of Debts Related to Social Security Contributions (CND) no.
A Restructuring Event shall be deemed not to be materially prejudicial to the interests of the Bondholders if, notwithstanding the occurrence of a Rating Downgrade, the rating assigned to the Rated Securities by any Rating Agency (as defined below) is subsequently increased to an investment grade rating (BBB—/ Baa3 or their respective equivalents for the time being, or better) prior to any Negative Certification being issued.
The INTERVENER T▇▇ PARTICIPAÇÕES S.A. presented Negative Certification of Debts Related to Social Security Contributions (CND) no.
Back to Contents A Restructuring Event shall be deemed not to be materially prejudicial to the interests of the Bondholders if, notwithstanding the occurrence of a Rating Downgrade, the rating assigned to the Rated Securities by any Rating Agency (as defined below) is subsequently increased to an investment grade rating (BBB–/ Baa3 or their respective equivalents for the time being, or better) prior to any Negative Certification being issued.
More Definitions of Negative Certification
Negative Certification means a certificate given in writing to the Trustee by an independent financial adviser that a Restructuring Event will be or is, in its opinion, materially prejudicial to the interests of the Bondholders;
Negative Certification means the certification in writing by an Independent Financial Adviser within 30 days of the occurrence of the NGN Restructuring Event to the Trustee that the NGN Restructuring Event is, in its opinion, materially prejudicial to the interests of Bondholders.
Negative Certification means, on the occurrence of an NGET Restructuring Event, such event or events being certified in writing by an independent financial adviser appointed by NGET and approved by the Trustee (or, if NGET shall not have appointed such an adviser within 21 days after becoming aware of the occurrence of such NGET Restructuring Event, appointed by the Trustee (following consultation with NGET)) as * Only applicable where NGET is the Issuer. being in its opinion materially prejudicial to the interests of the Instrumentholders. Any Negative Certification by an independent financial adviser as to whether or not, in its opinion, any event defined as an NGET Restructuring Event is materially prejudicial to the interests of the Instrumentholders shall, in the absence of manifest error, be conclusive and binding upon NGET, the Trustee, the Instrumentholders and the Couponholders;
Negative Certification means, in respect of a Restructuring Event, a certification in writing to the Issuer, the Guarantor and the Trustee by an Independent Financial Adviser that such Restructuring Event is, in the opinion of such Independent Financial Adviser, materially prejudicial to the interests of the Bondholders.
Negative Certification means, on the occurrence of an NGC Restructuring Event, such event or events being certified in writing by an independent financial adviser appointed by NGC and approved by the Trustee (or, if NGC shall not have appointed such an adviser within 21 days after becoming aware of the occurrence of such NGC Restructuring Event, appointed by the Trustee (following consultation with NGC)) as being in its opinion materially prejudicial to the interests of the Instrumentholders. Any Negative Certification by an independent financial adviser as to whether or not, in its opinion, any event defined as an NGC Restructuring Event is materially prejudicial to the interests of the Instrumentholders shall, in the absence of manifest error, be conclusive and binding upon NGC, the Trustee, the Instrumentholders and the Couponholders;
Negative Certification means, on the occurrence of an NGET Restructuring Event,
Negative Certification means the certification in writing by an Independent Financial Adviser within 30 days of the occurrence of the NGN Restructuring Event to the Agent that the NGN Restructuring Event is, in its opinion, materially prejudicial Negative Rating Event means any failure, as a result of an NGN Restructuring Event, to obtain a Rating of at least BBB- or Baa3 (in respect of S&P and Moody’s, respectively, or their respective equivalents for the time being). NGN Restructuring Event