Investment Grade Rating Date definition

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

Investment Grade Rating Date means, at any time after the Borrower has received an Investment Grade Rating from either S&P or Moody’s, the date specified by the Borrower in a written notice to the Administrative Agent and the Lenders as the date on which it irrevocably elects to have the Applicable Margin and Facility Fee determined based on the Borrower’s Credit Rating.

Investment Grade Rating Date means the date on which (a) the corporate credit rating assigned to the Borrower is an Investment Grade Rating; (b) no Default shall have occurred and be continuing; and (c) all Term B Loans, Term D Loans and Term F Loans shall have been repaid in full.

Examples of Investment Grade Rating Date in a sentence

• Prior to the Investment Grade Rating Date, the Borrower will not declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, during the occurrence and continuance of an Event of Default, or if an Event of Default would result therefrom.

• This Section 8.02(c)(i) shall cease to be applicable on the Investment Grade Rating Date as defined in the Revolving Credit Agreement (the “Revolving Credit Agreement Investment Grade Rating Date”).

• The Borrower shall not permit the outstanding principal amount of Priority Debt, as of the last day of any fiscal quarter, beginning with the last day of the fiscal quarter in which the Investment Grade Rating Date occurs, to exceed an amount equal to 15% of Consolidated Net Tangible Assets as of such date.

• Upon the earlier of (i) the Investment Grade Rating Date and (ii) the termination of the total Commitments and the irrevocable and indefeasible payment of the Borrower’s Obligations (or, in the case of any LC Exposure, cash collateralized in accordance with Section 2.05(j) of the Credit Agreement), the Administrative Agent, on behalf of the Guaranteed Creditor, shall execute a release of the Obligors from any further obligations under this Guaranty or with regard to the Borrower’s Obligations.

• The Consolidated Interest Coverage Ratio, as at the end of each fiscal quarter of the Borrower (beginning with the fiscal quarter ending December 31, 2009) occurring prior to the Investment Grade Rating Date, shall be greater than or equal to 3.00 to 1.00.

More Definitions of Investment Grade Rating Date

Investment Grade Rating Date means the date on which the Borrower first obtains a Designated Rating of Baa3 or better from Moody’s or BBB- or better from S&P.

Investment Grade Rating Date means, the date on which the Borrower or NSA REIT first obtains an Investment Grade Rating from at least two of the Rating Agencies, including, for the avoidance of doubt, either Xxxxx’x and/or S&P.

Investment Grade Rating Date means, the date specified by the Borrower in a written notice to the Administrative Agent after the Parent or the Borrower obtains an Investment Grade Rating from any of Moody’s, S&P or Fitch.

Investment Grade Rating Date means the date that the MLP receives a Debt Rating from each of S&P, Fitch and Xxxxx’x and either (a) all such Debt Ratings are Investment Grade Ratings, or (b) one such Debt Rating is an Investment Grade Rating and the other two Debt Ratings are not less than BB+ in the case of S&P and Fitch and Ba1 in the case of Xxxxx’x.

Investment Grade Rating Date means the date on which the Borrower first obtains an Investment Grade Rating. “Laws” means all ordinances, statutes, rules, regulations, orders, injunctions, writs, treaties or decrees of any

Investment Grade Rating Date. The date on which Parent Guarantor or Borrower first receives an Investment Grade Rating.

Investment Grade Rating Date means the date on which the Parent first obtains an Investment Grade Rating. “L/C Commitment Amount” equals $40,000,000.