Common use of Downgrade Event Clause in Contracts

Downgrade Event. If at any time there shall occur a Downgrade Event in respect of Party A, then Party B may require Party A to provide Performance Assurance in an amount determined by Party B in a commercially reasonable manner. In the event Party A shall fail to provide such Performance Assurance or a guaranty or other credit assurance acceptable to Party B within three (3) Business Days of receipt of notice, then an Event of Default shall be deemed to have occurred and Party B will be entitled to the remedies set forth in Article Five of this Master Agreement.

Downgrade Event. If at any time there shall occur a Downgrade Event in respect of Party AB, then Party B A may require Party A B to provide Performance Assurance in an amount determined by Party B A in a commercially reasonable manner. In the event Party A B shall fail to provide such Performance Assurance or a guaranty or other credit assurance acceptable to Party B A within three (3) Business Days of receipt of notice, then an Event of Default shall be deemed to have occurred and Party B A will be entitled to the remedies set forth in Article Five of this Master Agreement.

Downgrade Event. If at any time there shall occur a Downgrade --------------- Event in respect of Party AB, then Party B A may require Party A B to provide Performance Assurance in an amount determined by Party B A in a commercially reasonable manner. In the event Party A B shall fail to provide such Performance Assurance or a guaranty or other credit assurance acceptable to Party B A within three (3) Business Days of receipt of notice, then an Event of Default shall be deemed to have occurred and Party B A will be entitled to the remedies set forth in Article Five of this Master Agreement.

Downgrade Event. If at any time there shall occur a Downgrade Event in respect of Party AB, then Party B A may require Party A B to provide Performance Assurance in an amount determined by Party B A in a commercially reasonable manner. In the event Party A B shall fail fall to provide such Performance Assurance or a guaranty or other credit assurance acceptable to Party B A within three (3) Business Days of receipt of notice, then an Event of Default shall be deemed to have occurred and Party B A will be entitled to the remedies set forth `in Article Five of this Master Agreement.

Downgrade Event. If at any time there shall occur a Downgrade Event under Schedule [12] in respect of Party AB, then Party B A may require Party A B to provide Performance Assurance in an amount determined by Party B A in a commercially reasonable manner. In the event Party A B shall fail to provide such Performance Assurance or a guaranty or other credit assurance acceptable to Party B A within three (3) Business Days of receipt of notice, then an Event of Default shall be deemed to have occurred and Party B A will be entitled to the remedies set forth in Article Five of this Master Agreement[XIX].

Downgrade Event. If at any time there shall occur a Downgrade Event in respect of Party AB, then Party B A may require Party A B to provide Performance Assurance in an amount determined by Party B A in a commercially reasonable manner. In the event Party A B shall fail to provide such Performance Assurance or a guaranty or other credit assurance acceptable to Party B A within three (3) Business Days of receipt of noticenotice or fails to maintain such Performance Assurance or guaranty or other credit assurance for so long as the Downgrade Event is continuing, then an Event of Default shall be deemed to have occurred and Party B A will be entitled to the remedies set forth in Article Five of this Master Agreement.

Downgrade Event. If at any time there shall occur a Downgrade --------------- Event in respect of Party A, then Party B may require Party A to provide Performance Assurance in an amount determined by Party B in a commercially reasonable manner. In the event Party A shall fail to provide such Performance Assurance or a guaranty or other credit assurance acceptable to Party B within three (3) Business Days of receipt of notice, then an Event of Default shall be deemed to have occurred and Party B will be entitled to the remedies set forth in Article Five of this Master Agreement.

Downgrade Event. If at any time there shall occur a Downgrade Event in respect of Party A, then Party B may require Party A to provide Performance Assurance in an amount determined by Party B in a commercially reasonable manner. In the event Party A shall fail to provide such Performance Assurance or a guaranty or other credit assurance acceptable to Party B within three (3) Business Days of receipt of notice, then an Event of Default shall be deemed to have occurred and Party B will be entitled to the remedies set forth in Article Five of this Master Agreement[XIX].