Common use of Changes in Covenants upon Notes Being Rated Investment Grade Clause in Contracts

Changes in Covenants upon Notes Being Rated Investment Grade. If on any date following the date of this Indenture: (i) the Notes are assigned an Investment Grade Rating from both of the Rating Agencies and (ii) no Default or Event of Default shall have occurred and be continuing, then, beginning on that day, the covenants contained in Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.13 and 4.18 hereof, and clause (4) of Section 5.01 shall terminate.

Appears in 1 contract

Sources: Indenture (Foundation Coal Holdings, Inc.)

Changes in Covenants upon Notes Being Rated Investment Grade. If on any date following the date of this Indenture: (i) the Notes are assigned an Investment Grade Rating from both of the Rating Agencies Agencies, and (ii) no Default or Event of Default shall have occurred and be continuing, then, beginning on that day, the covenants contained in Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.13 and 4.18 4.19 hereof, and clauses (1)(a) and (2) of Section 4.16 and clause (4) of Section 5.01 shall terminate.

Appears in 1 contract

Sources: Indenture (Alpha Natural Resources, Inc.)