Second Trigger Event definition

Second Trigger Event means a Liquidation Event or an Exit Event which results in distributions on the Series B Units, Series C Units and Series D Units in accordance with Section 6.1(c) of the LLC Agreement equal to or in excess of $200,000,000.

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Second Trigger Event means the long term debt obligations of the Guarantor being rated below BBB+ if and as rated by Standard & Poor's Corporation or BAA1 if and as rated by Mood▇'▇ ▇▇▇estor Service Inc., or an equivalent by an alternative service of equivalent recognition (if neither Standard & Poor's Corporation nor Mood▇'▇ ▇▇▇estor Service, Inc. has assigned any rating) or the placing of the Guarantor on "creditwatch" to fall below BBB+ (if and as rated by Standard and Poor's Corporation) or BAA1 (if and as rated by Mood▇'▇ ▇▇▇estor Service Inc.);

Examples of Second Trigger Event in a sentence

If a ▇▇▇▇▇’▇ Second Trigger Event has occurred and is continuing, Party A shall at its own cost use commercially reasonable efforts to, as soon as reasonably practicable, either (x) procure an Eligible Guarantee in respect of all of Party A’s present and future obligations under this Agreement from a guarantor that has the ▇▇▇▇▇’▇ Required Hedge Ratings, or (y) effect a transfer of its rights and obligations under this Agreement to an Eligible Replacement in accordance with Part 5(k)(ii) above.
Notwithstanding anything to the contrary in Paragraph 7, any failure by Party A to comply with or perform any obligation to be complied with or performed by Party A under the Credit Support Annex shall only be an Event of Default if (A) a Moody’s Second Trigger Event or an S&P Second Trigger Event has occurred and been continuing for 30 or more Local Business Days and (B) such failure is not remedied on or before the third Local Business Day after notice of such failure is given to Party A.
Mortgage participation certificates issued by FHLMC evidencing 81.9 % 81.9 % 86.4 % 69.12 % Valuation Percentage:* ▇▇▇▇▇’▇ First Trigger Event ▇▇▇▇▇’▇ Second Trigger Event S&P Approved Ratings Downgrade S&P Required Ratings Downgrade undivided interests or participations in pools of first lien conventional or FHA/VA residential mortgages or deeds of trust, guaranteed by FHLMC, and having a remaining maturity of not more than 30 years.
During the continuation of a Second Trigger Event the Head Lessee does not comply with any of its obligations under clause 10.4.1(i) (Second Trigger Event) of the All Parties Agreement.
If a ▇▇▇▇▇'▇ Second Trigger Event has occurred and is continuing, Party A shall at its own cost use commercially reasonable efforts to, as soon as reasonably practicable, either (x) procure an Eligible Guarantee in respect of all of Party A's present and future obligations under this Agreement from a guarantor that has the ▇▇▇▇▇'▇ Required Hedge Ratings, or (y) effect a transfer of its rights and obligations under this Agreement to an Eligible Replacement in accordance with Part 5(k)(ii) above.
Upon the successful consummation of any assignment to a Transferee as contemplated in this Part 5(l)(A)(2), any obligation of Party A to post and maintain collateral under the Credit Support Annex in respect of such S&P Second Trigger Event shall terminate and Party B shall release its security interest in, and return to Party A, any then-posted collateral.
Notwithstanding anything to the contrary in Paragraph 7, any failure by Party A to comply with or perform any obligation to be complied with or performed by Party A under the Credit Support Annex shall only be an Event of Default if (A) a M▇▇▇▇’▇ Second Trigger Event or an S&P Second Trigger Event has occurred and been continuing for 30 or more Local Business Days and (B) such failure is not remedied on or before the third Local Business Day after notice of such failure is given to Party A.

More Definitions of Second Trigger Event

Second Trigger Event shall have the meaning set forth in Section 11.04.

Second Trigger Event means (i) the long term debt obligations of the Guarantor being rated below BBB if and as rated by Standard & Poor's Corporation or Baa2 if and as rated by Moody's Investor Service Inc., or an equivalent by an alternative service of equivalent recognition (if neither Standard & Poor's Corporation nor Moody's Investor Service, Inc. has assigned any rating) or (ii) the long term debt obligations of the Guarantor ceasing to be publicly rated by any reputable, internationally recognised rating agency because the Guarantor has of its own volition requested that none of its debt be so rated.

Second Trigger Event has the meaning specified in Section 2.4(c) of this Agreement.

Second Trigger Event means the senior unsecured indebtedness obligations of the Guarantor being rated below BBB if and as rated by Standard & Poor's Corporation or Baa2 if and as rated by ▇▇▇▇▇'▇ Investor Service Inc., or an equivalent by an alternative service of equivalent recognition (if neither Standard & Poor's Corporation nor ▇▇▇▇▇'▇ Investor Service, Inc. has assigned any rating). Secured Obligations means the Borrower Secured Obligations, the Alternate Borrower Secured Obligations and the Head Lessee Secured Obligations. Secured Party means an Indemnitee or any other person granted security under the Other Transaction Documents, the Alternate Transaction Documents or the Other ECA Indebtedness. Security means security granted under a Security Document. Security Deposit means any security deposit relating to the Aircraft which has been paid or which is payable in cash by the Lessee pursuant to the relevant Lease and which has not been applied by the Head Lessee or returned to the Lessee, in each case, in accordance with the terms of the relevant Lease. Security Deposit Account means the Head Lessee's Dollar account with the Security Trustee or such other financial institution as may be approved by the Security Trustee named "Security Deposit Account". Security Documents means:

Second Trigger Event means any termination of your employment with AT&T without "Cause" (other than due to "Disability" or death), and any "Constructive Termination Without Cause," with the quoted terms having the meaning ascribed to them in the Employment Agreement. For purposes of this Award, termination of your employment with AT&T due to Disability shall be treated the same as for death under section 3(b) and any other provision of this Award.