Subsequent S&P Note Downgrade definition

Subsequent S&P Note Downgrade. Event" will occur where: (a) the long-term, unsecured and unsubordinated debt obligations of Party A (or its successor) cease to be rated at least as high as "BBB-"(or its equivalent) by S&P; and (b) as a result of such cessation, the then current rating of the Notes may, in the reasonable opinion of S&P, be downgraded or placed under review for possible downgrade.
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Examples of Subsequent S&P Note Downgrade in a sentence

  • If Party A does not take any of the measures described in sub-paragraphs (i) or (ii) above such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A and shall be deemed to have occurred on the 30th day following the Initial S&P Note Downgrade Event or Subsequent S&P Note Downgrade Event, as applicable, with Party A as the sole Affected Party and all Transactions shall be Affected Transactions.

  • If Party A does not take any of the measures described in sub-paragraphs (k)(i) or (k)(ii) above such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A and shall be deemed to have occurred on the 30th day following the Initial S&P Note Downgrade Event or the [5th] day following the Subsequent S&P Note Downgrade Event, as applicable, with Party A as the sole Affected Party and all Transactions shall be Affected Transactions.

  • If Party A does not take any of the measures described in sub-paragraphs [(k)(i)] or [(k)(ii)] above such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A and shall be deemed to have occurred on the thirtieth day following the Initial S&P Note Downgrade Event or Subsequent S&P Note Downgrade Event, as applicable, with Party A as the sole Affected Party.

  • To protect its reputation and to reflect the strong positioning of its brand, the Group constantly upgrades its products and adheres to high quality standards in all areas of operation.

  • Such Additional Termination Event will be deemed to have occurred on the 30th day following the Subsequent S&P Note Downgrade Event with Party A as the sole Affected Party and all Transactions as Affected Transactions.] Each Additional Termination Event described in this Part 5(k)(ii) shall, on its occurrence, constitute a "Downgrade Termination Event".

  • If Party A does not take any of the measures described in sub-paragraphs (A)(i) or (A)(ii) above such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A and shall be deemed to have occurred on the thirtieth day following the Initial S&P Note Downgrade Event or the tenth day following the Subsequent S&P Note Downgrade Event, as applicable, with Party A as the sole Affected Party.