Rating Event Date definition

Rating Event Date means the first date upon which the Securities are rated Baa3 or better by ▇▇▇▇▇'▇ Investors Service, Inc., BBB- or better by Standard & Poor's Corporation and BBB- or better by Duff & ▇▇▇▇▇▇ Credit Rating Co. (or, in any case, if such person ceases to rate the Securities for reasons outside the control of the Company, the equivalent investment grade credit rating from any other "nationally recognized statistical rating organization" (within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Company as a replacement rating agency).
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Rating Event Date has the meaning specified in Section 1010(a).
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Rating Event Date means any date upon which the Company elects to have the Bonds no longer secured by a Letter of Credit or Alternate Letter of Credit pursuant to the provisions of Section 5.01(c) hereof, which date shall be (i) a Conversion Date on which the interest rate on all outstanding Bonds is being converted to a new Interest Mode, (ii) any day during any Long-Term Interest Rate Mode, but only a day on or after a date the Bonds are then permitted to be optionally redeemed pursuant to Section 3.01(c) hereof and only to the extent that the principal portion of the stated amount of the then-existing Letter of Credit includes, in addition to an amount equal to the principal amount of Bonds outstanding, an amount equal to any premium then payable, (iii) any Commercial Paper Rate Reset Date on which the interest rate on all Bonds in a Commercial Paper Mode shall be reset, or (iv) any day during any Daily Period, or Weekly Period. "Record Date" means the close of business on the Business Day next preceding any Interest Payment Date; provided, however, with respect to any Interest Payment Date for a Long-Term Interest Rate Period, the "Record Date" shall be the close of business on the fifteenth day of the calendar month next preceding such Interest Payment Date. "Reimbursement Agreement" means the Reimbursement Agreement executed and delivered on the Closing Date, by and between the Company and the Credit Bank, and, with respect to each subsequent Alternate Credit Facility, the agreement pursuant to which such Alternate Credit Facility is issued. All references to "Reimbursement Agreement" shall be of no effect at any time that no Letter of Credit is issued and secures the Bonds, except with respect to rights of any Credit Bank which do not by their terms expire upon the expiration of the Letter of Credit issued by such Credit Bank. "Remarketing Agent" means The First National Bank of Chicago and its successors acting in such capacity under this Indenture. "Remarketing Agreement" means the Remarketing Agreement, dated as of the date of this Indenture, between the Company and the Remarketing Agent, or any similar agreement between the Company and the Remarketing Agent, as amended or supplemented from time to time in accordance with its terms. "Responsible Officer" means the Chairman of the Board, the President or any other officer or assistant officer of the Trustee assigned by the Trustee to administer its corporate trust matters. "Revenues" means all amounts pledged hereu...
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Examples of Rating Event Date in a sentence

  • Following the Rating Event Date (and provided no Event of Default or Default shall exist on the Rating Event Date), substantially all the covenants contained in the Indenture (excluding the covenant relating to the Company's obligation to make an Offer to Purchase Securities upon the occurrence of a Change of Control) will cease to apply to the Securities.

  • Following the Rating Event Date (and provided no Event of Default or Default shall exist on the Rating Event Date), Section 801 and Sections 1008, 1009, 1010, 1011, 1012, 1014, 1015, 1016, 1018 and 1021 of the Indenture (collectively, the "Eliminated Covenants") shall be of no further force and effect and shall cease to apply to the Notes and, in place thereof, the provisions of Sections 2.6 and 2.7 hereof shall apply to the Notes.

  • The Company hereby agrees to execute and deliver to the Trustee, and cause to be properly recorded, a Deed of Trust in a form acceptable to the Issuer and the Trustee on or prior to the date on which the Bonds are remarketed as a result of the occurrence of a Rating Event Date.

  • Following the Rating Event Date (and provided no Event of Default or Default shall exist on the Rating Event Date), Section 801 and Sections 1008, 1009, 1010, 1011, 1012, 1014, 1015, 1016, 1018 and 1021 of the Indenture (collec tively, the "Eliminated Covenants") shall be of no further force and effect and shall cease to apply to the Securities and, in place thereof, the provisions of Sections 2.6 and 2.7 hereof shall apply to the Securities.

  • In order to provide for the payments required by the Company pursuant to Section 4.2(a) hereof, the Company shall cause to be provided on the Closing Date, and be continuously available to the Trustee, as beneficiary, at all times prior to a Rating Event Date, an irrevocable Letter of Credit (whether in the form of a letter of credit or any other credit instrument) meeting the requirements of Section 5.

  • At no time after a Rating Event Date will the provisions and covenants contained in this Sixteenth Supplemental Indenture at the time of the issuance of the Notes that cease to be applicable after the Rating Event Date be reinstated.

  • The Sections that cease to be applicable to the Securities after the Rating Event Date shall not subsequently be reinstated.

  • At no time after a Rating Event Date will the provisions and covenants contained in this Seventeenth Supplemental Indenture at the time of the issuance of the Notes that cease to be applicable after the Rating Event Date be reinstated.

  • Following the Rating Event Date, all Unrestricted Subsidiaries shall become Restricted Subsidiaries.

  • The Company hereby agrees to amend this Agreement as may reasonably be required by the Rating Agency in connection with a Rating Event Date.


More Definitions of Rating Event Date

Rating Event Date means the first date upon which the Notes are rated Investment Grade.
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Rating Event Date means the first date upon which the Securities are rated Baa3 or better by Moody's Investors Service, Inc., BBB- or better by Standard & Poor's Corporation and BBB- or better by Duff & Phelps Credit Rating Co. (or, in any case, if such person ceases to rate the Securities for reasons outside the control of the Company, the equivalent investment grade credit rating from any other "nationally recognized statistical rating organization" (within the meaning of Rule
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Related to Rating Event Date

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will 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 (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company 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 Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Event Date shall have the meaning set forth in Section 2(d).

  • Switch Event Date means the date recorded in the Registry as being the date on which a trader assumes responsibility for an ICP;

  • 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).