Investment Grade Period

Investment Grade Period. Means any period commencing with the date the Borrower delivers (a) for purposes of Section 11.10, the Investment Grade Election specified in clause (a) of the definition thereof and (b) for any other purpose, the Investment Grade Election specified in clause (b) of the definition thereof, to the Administrative Agent (so long as the Parent or Borrower, as applicable, has an Investment Grade Rating from one or more of Moody's and S&P at such time) and ending with the earlier to occur of (i) the... date the Borrower elects in writing to the 4Administrative Agent to exit such Investment Grade Period and (ii) the first date following the beginning of such Investment Grade Period on which the Borrower receives an Index Debt rating from Moody's and S&P below (x) Ba1 and (y) BB+, respectively. View More