Investment Grade Condition definition

Investment Grade Condition a condition that is satisfied if (x) so long as any Tranche G Term Loans are outstanding, the Tranche G Term Loans have obtained an Investment Grade Rating and (y) so long as any Tranche H Term Loans are outstanding, the Tranche H Term Loans have obtained an Investment Grade Rating (or if the Tranche G Term Loans and the Tranche H Term Loans have each been repaid in full, the Borrower has obtained a corporate family/corporate credit rating that is an Investment Grade Rating), in each case from at least two of the Rating Agencies.

Investment Grade Condition means a condition that is satisfied if the Borrower has obtained an Investment Grade Rating from at least two of the Rating Agencies (in each case, with a stable outlook or better).

Investment Grade Condition means the satisfaction of the following: the Company's senior unsecured long-term debt securities shall not have been rated less than (i) BBB- by S&P and (ii) Baa3 by Moody's on each day of each of two consecutive Fiscal Quarters.

Examples of Investment Grade Condition in a sentence

• In the event that the Borrower and its Restricted Subsidiaries are not subject to the Suspended Covenants under this Agreement for any period of time as a result of the foregoing, and on any subsequent date (the “Reversion Date”) the Investment Grade Condition is no longer satisfied, then the Borrower and its Restricted Subsidiaries will thereafter again be subject to the Suspended Covenants under this Agreement with respect to future events.

• The Borrower shall deliver to the Administrative Agent an officers’ certificate certifying that the Investment Grade Condition has been attained.

• If the Investment Grade Condition is not satisfied on or before March 31, 1997, the Company will, not later than April 2, 1997, give written notice of such failure to each Noteholder by facsimile transmission and, simultaneously with the sending of such telecopied notice, send a copy of such notice to each such Noteholder via an overnight courier of national reputation.

More Definitions of Investment Grade Condition

Investment Grade Condition means a condition that is satisfied if the Senior Term Loans have obtained an Investment Grade Rating (or if the Senior Term Loans have been repaid in full, the Borrower has obtained a corporate family/corporate credit rating that is an Investment Grade Rating), in each case from at least two of the Rating Agencies.

Investment Grade Condition the first day on which (1) the Parent Borrower’s public corporate credit rating from Standard & Poor’s shall be BBB- (stable) or better and the Parent Borrower’s public corporate family rating from Moody’s shall be Baa3 (stable) or better, (2) no Default or Event of Default shall have occurred and be continuing, (3) the Consolidated Leverage Ratio for the Reference Period most recently ended on or prior to such date on a pro forma basis for such transaction and any transaction to be consummated in connection therewith does not exceed 3.75:1.00, (4) no other document granting a Lien permitted by Section 7.3(n) has then granted a valid Lien on any Collateral that will not concurrently become so released and (5) the Parent Borrower, in its sole discretion, shall have delivered a written election to the Administrative Agent attaching a certificate of a Responsible Officer, in form and substance reasonably acceptable to the Administrative Agent, setting forth in reasonable detail the calculations and representations necessary to demonstrate the Parent Borrower’s satisfaction of the conditions set forth above.

Investment Grade Condition means the satisfaction of the following: the Company’s senior unsecured long-term debt securities shall have been rated at least (i) BBB- by S&P and (ii) Baa3 by Moody’s on each day of each of two consecutive Fiscal Quarters.

Investment Grade Condition means the first day on which (x) the Borrower’s public corporate credit rating from S&P shall be BBB- or better and the Borrower’s public corporate family rating from Moody’s shall be Baa3 or better and (y) no Event of Default shall have occurred and be continuing.

Investment Grade Condition means the satisfaction of the following: the Company’s senior unsecured long-term debt securities shall not have been rated less than (i) BBB- by S&P and (ii) Baa3 by Moody’s on each day of each of two consecutive Fiscal Quarters.

Investment Grade Condition shall be deemed to be satisfied at any time if

Investment Grade Condition shall be deemed to be satisfied at any time if