Investment Grade Date definition

Investment Grade Date means the first day when the Debt Rating is BBB (stable outlook) or higher by S&P and Baa2 (stable outlook) or higher by Moody's.

Investment Grade Date means the first date on which (a) two of the Rating Agencies maintain an Investment Grade Rating, and (b) the Company notifies the Administrative Agent in writing of such Investment Grade Rating.

Investment Grade Date means the first date after the Closing Date on which the Borrower’s Corporate Rating is (a) BBB- or better by S&P (without negative outlook or negative watch), or (b) Baa3 or better by Xxxxx’x (without negative outlook or negative watch), provided that the other of the two Corporate Ratings is at least BB+ by S&P or Ba1 by Xxxxx’x.

Examples of Investment Grade Date in a sentence

• Prior to the Investment Grade Date, it will not, and will not permit any of its subsidiaries or Joint Ventures to, enter into any Hedging Agreement, except for Hedging Agreements that are for the sole purpose of hedging in the normal course of business consistent with industry practices and not for speculative purposes.

• As of the last day of each fiscal quarter of the Borrower, the Consolidated Leverage Ratio will not exceed 3.5 to 1.0. From and after the Investment Grade Date, this Section 7.11(b) shall cease to apply.

• Prior to the Investment Grade Date, the Borrower will not permit its Consolidated Interest Coverage Ratio to be less than 3.00 to 1.00 as at the last day of each Test Period, commencing with the Test Period ending September 30, 2015; provided that the Consolidated Interest Coverage Ratio as at the last day of each Test Period during a Permitted Acquisition Period shall not be less than 2.75 to 1.00.

• Prior to the Investment Grade Date, it will not, and will not permit any of its Restricted Subsidiaries to, purchase or otherwise acquire (in one transaction or a series of transactions) any assets of any other Person except (a)acquisitions solely among the Borrower Parties, (b) Permitted Acquisitions, (c) Organic Growth, (d) Investments permitted pursuant to Section 6.04, and (e) purchases or other acquisitions in the ordinary course of business.

• Prior to the Investment Grade Date, it will not permit any of its Joint Ventures to at any time create or acquire any Restricted Subsidiary without the prior written consent of the Required Lenders, unless such acquisition is permitted by this Agreement and simultaneously with such acquisition the acquired Restricted Subsidiary ceases to be a Restricted Subsidiary.

More Definitions of Investment Grade Date

Investment Grade Date means the first date on which the Borrower's Index Debt rating is BBB- or better by S&P's or Baa3 or better by Moody's, unless one of the two ratings is two or more categories lower than the other and the category that is one above the lower rating is not BBB- or Baa3 or better.

Investment Grade Date means the first day on which the ratings --------------------- established by both Xxxxx'x and S&P for the Index Debt are, respectively, Baa2 or better and BBB or better.

Investment Grade Date means the first date on which the Borrower achieves an Investment Grade Rating.

Investment Grade Date means the first date on which one of the Rating Agencies maintains an Investment Grade Rating and the other Rating Agency maintains a rating equal to or more favorable than BB+ (stable) or Ba1 (stable), as applicable.

Investment Grade Date means the first date on which the Borrower’s Index Debt rating is BBB- or better by S&P (without negative outlook or negative watch), or Baa3 or better by Moody’s (without negative outlook or negative watch), provided that the other of the two Index Debt ratings is at least BB+ by S&P or Ba1 by Moody’s.

Investment Grade Date means the first date on which (a) at least two of S&P, Xxxxx’x and Fitch first maintain an Investment Grade Rating and (b) the Borrower notifies the Administrative Agent in writing of such Investment Grade Rating.

Investment Grade Date has the meaning set forth in Section 5.15 hereof.