Common use of Amendment, Modification or Termination Clause in Contracts

Amendment, Modification or Termination. This Guaranty may not be amended, modified or terminated except upon six (6) month prior notice, in writing, given by Parent to Subsidiary, with a copy of such notice simultaneously delivered to Standard & Poor’s Corporation and Duff & ▇▇▇▇▇▇ Credit Rating Co., and provided further that such proposed amendment, modification or termination shall only become effective if both the financial strength rating assigned to Subsidiary by Standard & Poor’s Corporation and the claims paying ability rating assigned to Subsidiary by Duff & ▇▇▇▇▇▇ Credit Rating Co, after such termination, amendment or modification is not lower than such rating assigned immediately prior to the proposed amendment, modification or termination.

Appears in 1 contract

Sources: Guaranty (Assured Guaranty LTD)

Amendment, Modification or Termination. This Guaranty may not be amended, modified or terminated except upon six (6) month prior notice, in writing, given by Parent to Subsidiary, with a copy of such notice simultaneously delivered to Standard & Poor’s Corporation and Duff & ▇▇▇▇▇▇ Credit Rating Co., and provided further that such proposed amendment, modification or termination shall only become effective if both the financial strength rating assigned to Subsidiary by Standard & Poor’s Corporation and the claims paying ability rating assigned to Subsidiary by Duff & ▇▇▇▇▇▇ Credit Rating Co, Co. after such termination, amendment or modification is not lower than such rating assigned immediately prior to the proposed amendment, modification or termination.

Appears in 1 contract

Sources: Guaranty (Assured Guaranty LTD)

Amendment, Modification or Termination. This Guaranty may not be amended, modified or terminated except upon six (6) month months prior notice, in writing, given by Parent to Subsidiary, with a copy of such notice simultaneously delivered to Standard & Poor’s Corporation and Duff & ▇▇▇▇▇▇ Credit Rating Co., and provided further that such proposed amendment, modification or termination shall only become effective if both the financial strength rating assigned to Subsidiary by Standard & Poor’s Corporation and the claims paying ability rating assigned to Subsidiary by Duff & ▇▇▇▇▇▇ Credit Rating Co, Co. after such termination, amendment or modification is not lower than such rating assigned immediately prior to the proposed amendment, modification or termination.

Appears in 1 contract

Sources: Guaranty (Assured Guaranty LTD)