Sustainability Performance Targets definition

Sustainability Performance Targets means each of SPT 1, SPT 2 and SPT 3.

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Sustainability Performance Targets means, collectively, Sustainability Performance Target 1, Sustainability Performance Target 2 and Sustainability Performance Target 3.

Sustainability Performance Targets or “SPT” means (as applicable) the Net Operational Carbon SPT, the Capital Carbon SPT and/or any Additional SPT as specified in the applicable Final Terms;

Examples of Sustainability Performance Targets in a sentence

• For the avoidance of doubt, failure to achieve one or more Sustainability Performance Targets shall not constitute a Default or an Event of Default with respect to the Notes.

• The Trustee shall be entitled to conclusively rely on an Officer’s certificate from the Issuer or the Guarantor, shall have no duty to inquire as to or investigate the accuracy of any such Officer’s certificate (or related Assurance Letter), verify the attainment of the Sustainability Performance Targets, or make calculations, investigations or determinations with respect to the attainment of the Sustainability Performance Targets.

• Sustainability Performance Targets: SPT-1.1: Achieving a reduction of at least 50% in Aggregate Gross GHG Emissions, expressed in CO2eq per real GDP unit, by 2025 (the “Observation Year”) compared to 1990.

• Any satisfaction of the Sustainability Performance Targets subsequent to the Notification Due Date or cessation of satisfaction, or any failure to satisfy the Sustainability Performance Targets subsequent to the Notification Due Date, will not result in an adjustment to the interest rate payable on the Sustainability-Linked Notes.

• The Trustee shall not be obliged to monitor, inquire or verify as to whether the Sustainability Performance Targets have been satisfied.

More Definitions of Sustainability Performance Targets

Sustainability Performance Targets means, collectively, the Product Volume Target, the Regulatory Submissions Target and the Emissions Reduction Target; provided, however, that for purposes of determining if any Sustainability Performance Target has been achieved, the Guarantor and its consolidated subsidiaries may exclude the impact of (i) any amendment to, or change in, any applicable laws, regulations, rules, guidelines, standards and policies applicable or relating to the business, operations or properties of the Guarantor and its consolidated subsidiaries following the issue date of the Notes, including with respect to the measurement or calculation of any of the Sustainability Performance Targets or (ii) any force majeure, extraordinary or exceptional events or circumstances, including the occurrence of such events or circumstances with respect to any governmental, non-governmental or healthcare organization whose participation, involvement or functioning is necessary, appropriate or, as of the date of this offering, anticipated, for the achievement of the Sustainability Performance Targets (including but not limited to geo-political instability, poor governance practices or the failure of local infrastructure (including physical or social infrastructure or supranational, national, state, provincial or local governance)). If a Sustainability Performance Target is not achieved as a result of the occurrence of any of the foregoing described in the proviso to the immediately preceding sentence, as determined by the Guarantor in its reasonable judgment, such Sustainability Performance Target will be deemed to have been achieved for purposes of this Supplemental Indenture and no interest rate adjustment shall result from the failure to achieve such Sustainability Performance Target.

Sustainability Performance Targets means the threshold or objective set for any given Key Performance Indicator to be observed on any corresponding Target Observation Date, if relevant compared to the level of such Key Performance Indicator used as a baseline and observed on the Baseline Date, as specified in the relevant Final Terms.

Sustainability Performance Targets means SPT 1, SPT 2 and SPT 3 and each a “Sustainability Performance Target”.

Sustainability Performance Targets means, (i) with respect to the 2028 Notes, (x) the Renewable Energy Percentage target which results in a Renewable Energy Percentage at least equal to 65%, and (y) the Zero Operational Waste to Landfill Percentage target which results in a Zero Operational Waste to Landfill Percentage at least equal to 65%, in each case, calculated for the year ended December 31, 2025, as set forth in the Sustainability-Linked Bond Framework; and (ii) with respect to the 2033 Notes, (x) the Renewable Energy Percentage target which results in a Renewable Energy Percentage at least equal to 85%, and (y) the Zero Operational Waste to Landfill Percentage target which results in a Zero Operational Waste to Landfill Percentage at least equal to 100%, in each case, calculated for the year ended December 31, 2030, as set forth in the Sustainability-Linked Bond Framework; provided that for purposes of calculating the Renewable Energy Percentage and Zero Operational Waste to Landfill Percentage in connection with the foregoing, the Company may exclude, from the numerator and the denominator, in respect of the Renewable Energy Percentage, the total electricity consumption (determined in MWh), or in respect of the Zero Operational Waste to Landfill Percentage, the total operational waste, attributable to any acquisition or divestiture in one or more transactions completed since the Issue Date by the Company or any of its consolidated Subsidiaries.

Sustainability Performance Targets means (1) a reduction of the Company’s Scope 3 Business Travel emissions by equal to or greater than 25% of annual emissions as measured on the Target Observation Date compared to a 2019 baseline, and (2) the Company’s U.S. Supplier Diversity for the twelve months ending at December 31, 2025 achieves a percentage equal to or greater than 10% as measured at the Target Observation Date, compared to a Tier 1 spend baseline measured from the beginning of the third quarter 2020 to the end of the second quarter.

Sustainability Performance Targets means the Scope 1 and Scope 2 Emissions Sustainability Performance Target and the Scope 3 Emissions Sustainability Performance Target.

Sustainability Performance Targets means SPT 1, SPT 2 and SPT 3.