Common use of Event of Default/Additional Termination Event Clause in Contracts

Event of Default/Additional Termination Event. Failure by Xxxxxx to comply with the requirement of this Part 6(1)II to use commercially reasonable efforts to obtain an Eligible Guarantee in respect of all Xxxxxx’x present and future obligations under this Agreement or Qualifying Novation shall constitute an Event of Default with respect to Xxxxxx. If Xxxxxx has not, within 10 Business Days of the occurrence of a Ratings Event II, obtained an Eligible Guarantee in respect of all Xxxxxx’x present and future obligations under this Agreement or effected a Qualifying Novation, it shall constitute an Additional Termination Event in respect of which Xxxxxx is the sole Affected Party and all Transactions are Affected Transactions, but only if:

Event of Default/Additional Termination Event. Failure by Xxxxxx Mxxxxx to comply with the requirement of this Part 6(1)II to use commercially reasonable efforts to obtain an Eligible Guarantee in respect of all Xxxxxx’x Mxxxxx’x present and future obligations under this Agreement or Qualifying Novation shall constitute an Event of Default with respect to XxxxxxMxxxxx. If Xxxxxx Mxxxxx has not, within 10 Business Days of the occurrence of a Ratings Event II, obtained an Eligible Guarantee in respect of all Xxxxxx’x Mxxxxx’x present and future obligations under this Agreement or effected a Qualifying Novation, it shall constitute an Additional Termination Event in respect of which Xxxxxx Mxxxxx is the sole Affected Party and all Transactions are Affected Transactions, but only if: