Credit Rating Event definition

Credit Rating Event is amended by replacing the reference “Paragraph 6(a)(iii)” with “Paragraph 6(a)(ii)”. The definition of “Exposure” is amended to read, in its entirety, as follows: “Exposure” of:

Credit Rating Event means the first time after the Closing Date on which the Index Debt is rated A- or higher by S&P and A3 or higher by Xxxxx’x, in each case with a stable outlook or better.

Credit Rating Event shall have the meaning attributed to it in Paragraph 6(a)(iv)(A).

Examples of Credit Rating Event in a sentence

• The Trustee shall be entitled, without liability to any person, to accept such certification and, in the case of a Tax Event, opinion as sufficient evidence that a Tax Event or an Equity Credit Rating Event (as the case may be) has occurred, in which event it shall be conclusive and binding on the Holders.

• If an Equity Credit Rating Event has occurred, then the Issuer may, at its option, subject to having given not less than thirty (30) nor more than sixty (60) calendar days' notice to the Fiscal Agent and, in accordance with Condition 10, the Bondholders (which notice shall be irrevocable), redeem all, but not some only, of the Bonds at any time, at (i) 101 per cent.

• The Trustee shall be entitled, without liability to any person, to accept such certification and, in the case of a Tax Event, opinion as sufficient evidence that a Tax Event or an Equity Credit Rating Event (as the case may be) has occurred, in which event it shall be conclusive and binding on the Noteholders.

• Notwithstanding any other provision of this Condition 5.3, no Successor Rate or Alternative Rate will be adopted, nor will the applicable Adjustment Spread be applied, nor will any Benchmark Amendments be made, if and to the extent that, in the determination of the Issuer, the same could reasonably be expected to cause an Equity Credit Rating Event to occur.

• This led to an increase of estimated N2O emissions in the base year and 2004 by 0.67 Gg, or 3.8 per cent in emissions from the sector in the base year compared to the 2006 submission.

More Definitions of Credit Rating Event

Credit Rating Event as of any date after the date hereof, Guarantor’s senior unsecured long-term indebtedness ceases to be rated at least the Requisite Rating by at least two of Standard & Poor’s, Fitch or Xxxxx’x Investor Service, Inc., with the “Requisite Rating” being “A” in the case of Standard & Poor’s and Fitch and “A1” in the case of Xxxxx’x Investor Service, Inc.

Credit Rating Event means that Parent would cease to be rated Investment Grade by at least two of the three Rating Agencies on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by Parent of such acquisition (or execution of an agreement providing for such acquisition) and ending 60 days following consummation of such acquisition (which Trigger Period will be extended following consummation of such acquisition for so long as any of the Rating Agencies has publicly announced that it is considering a possible ratings change). Unless at least two of the three Rating Agencies are providing a rating for Parent, Parent will be deemed to have ceased to be rated Investment Grade by at least two of the three Rating Agencies during that Trigger Period. For purposes of this Agreement, (i) “Fitch” means Fitch Ratings, Inc., and its successors; (ii) “Investment Grade” means a rating of Baa3 or better by Xxxxx’x (or its equivalent under any successor rating category of Xxxxx’x), a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), and a rating of BBB- or better by Fitch (or its equivalent under any successor rating category of Fitch); “Xxxxx’x” means Xxxxx’x Investors Service, Inc., a subsidiary of Xxxxx’x Corporation, and its successors; “Rating Agency” means each of Xxxxx’x, S&P and Fitch; provided, that if any of Xxxxx’x, S&P and Fitch ceases to provide rating services to issuers or investors, Parent may appoint another “nationally recognized statistical rating organization” as such term is defined in Section 3(a)(62) of the Exchange Act as a replacement for such Rating Agency; provided, further, that Parent shall give notice of such appointment to the Company; and “S&P” means Standard & Poor’s Ratings Services, a division of McGraw Hill Financial, and its successors.

Credit Rating Event has the meaning set forth in Section 10.9(a).

Credit Rating Event means that Parent would cease to be rated Investment Grade by at least two of the three Rating Agencies on any date during the period (the “Trigger Period”) commencing 60 days prior to the first public announcement by Parent of such acquisition (or execution of an agreement providing for such acquisition) and ending 60 days following consummation of such acquisition (which Trigger Period will be extended following consummation of such acquisition for so long as any of the Rating Agencies has publicly announced that it is considering a possible ratings change). Unless at least two of the three Rating Agencies are providing a rating for Parent, Parent will be deemed to have ceased to be rated Investment Grade by at least two of the three Rating Agencies during that Trigger Period. For purposes of this Agreement, (i) “Fitch” means Fitch Ratings, Inc., and its successors; (ii) “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating category of Moody’s), a rating of BBB- or better by S&P (or its equivalent under any successor rating category of S&P), and a rating of BBB- or better by Fitch (or its equivalent under any successor rating category of Fitch); “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors; “Rating Agency” means each of Moody’s, S&P and Fitch; provided, that if any of Moody’s, S&P and Fitch ceases to provide rating services to issuers or investors, Parent may appoint another “nationally recognized statistical rating organization” as such term is defined in Section 3(a)(62) of the Exchange Act as a replacement for such Rating Agency; provided, further, that Parent shall give notice of such appointment to the Company; and “S&P” means Standard & Poor’s Ratings Services, a division of McGraw Hill Financial, and its successors.

Credit Rating Event shall have the meaning attributed to it in Section VII(b).

Credit Rating Event means, at any time, if at such time any outstanding Opco Debt is rated below the Credit Rating Threshold;

Credit Rating Event means that Standard and Poor's Rating Services has issued a senior unsecured corporate credit rating for Lease Guarantor that is below "B+", or an equivalent rating has been issued by Moody's Investors Service, Inc., or by another credit rating agency acceptable to Lender in the event such credit rating agencies cease to exist or cease to provide credit rating services.