Credit Support Default. (1) Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed by it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed;
Credit Support Default. Subparagraph (3) of Section 5(a)(iii) is hereby amended by adding in the second line thereof after the word "Document" and before the semicolon the words "(or such action is taken by any person or entity appointed or empowered to operate it or act on its behalf)."
Credit Support Default. (1) Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed by it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed; the expiration or termination of such Credit Support Document or the failing or ceasing of such Credit Support Document to be in full force and effect for the purpose of this Agreement (in either case other than in accordance with its terms) prior to the satisfaction of all obligations of such party under each Transaction to which such Credit Support Document relates without the written consent of the other party; or
Credit Support Default. Section 5(a)(iii)(1) of this Agreement is hereby deleted and replaced with the following:
Credit Support Default. Section 5(a)(iii) will apply to Party A and will not apply to Party B.
Credit Support Default. Section 5(a)(iii) will apply to Party A, Section 5(a)(iii)(1) will apply to Party B only if such failure is the failure by Party B to transfer to Party A Equivalent Credit Support specified by Party A in a demand duly made under Paragraph 2(b) of the ISDA Credit Support Annex dated as of the date hereof and Section 5(a)(iii)(2) and (3) will not apply to Party B.
Credit Support Default. The "Credit Support Default" provision of Section 5(a)(iii) is hereby amended by adding, at the end thereof, the following: "provided that, not withstanding anything to the contrary contained in this Agreement or this Section 5, an Event of Default relative to the Credit Support Provider will not constitute an Event of Default with respect to Party B."
Credit Support Default. Section 5(a)(iii) of this Agreement is hereby amended by the addition of “or if there is no applicable grace period, one Local Business Day after notice of such failure is given to the party or Credit Support Provider (as the case may be)” after “elapsed” in the fourth line thereof.
Credit Support Default. (1) Failure by the party or any Guarantor of such party to comply with or perform any agreement or obligation to be complied with or performed by it in accordance with any Credit Support Instrument; (2) the expiration or termination of such Credit Support Instrument or the failing or ceasing of such Credit Support Instrument to be in full force and effect for the purpose of this agreement (in either case other than in accordance with its terms) prior to the satisfaction of all obligations of such Party under each Transaction to which such Credit Support Instrument relates without the written consent of the other party; or (3) the Party or such Guarantor disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, such Credit Support Instrument;
Credit Support Default. With respect to Party B, Section 5(a)(iii) will not apply except that Section 5(a)(iii)(1) will apply in respect of Party B’s obligations under Paragraph 2(b) of the Credit Support Annex provided that Party A shall notify Party B of Party B’s failure to perform such obligations and Party A shall only be entitled to designate an Early Termination Date in respect of such Event of Default no earlier than 3 Local Business Days following such notification.
