S&P Extension Condition definition
S&P Extension Condition means with respect to any proposed action by the Issuer, the Issuer has provided S&P with its proposals in writing and S&P has confirmed to the Issuer it will delay the relevant rating action that would otherwise have been taken.".
S&P Extension Condition means, with respect to any remedial action in accordance with Part 5(g)(i) above proposed by Party A, Party A has provided S&P its proposals for such action in writing and S&P has promptly confirmed to Party B and the Trustee that it will
S&P Extension Condition means, with respect to any remedial action in accordance with Part 5(g)(i) above proposed by Party A, Party A has provided S&P its proposals for such action in writing and S&P has promptly confirmed to Party B and the Trustee that it will delay the respective rating action that would otherwise be taken but for such proposals, until at least 20 Business Days from (but excluding) the occurrence of such Initial S&P Rating Event or at least 90 calendar days from (but excluding) the occurrence of such Subsequent S&P Rating Event, as applicable, have elapsed.