Common use of First Subsequent Fitch Rating Event Clause in Contracts

First Subsequent Fitch Rating Event. In the event that (x) the long-term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "BBB+" (or its equivalent) by Fitch or (y) the short-term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "F2" (or its equivalent) by Fitch (each of (x) and (y) a "First Subsequent Fitch Rating Event") then Party A will, on a reasonable efforts basis and at its own cost and expense, either:

First Subsequent Fitch Rating Event. In the event that (x) the long-term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "BBB+A-" (or its equivalent) by Fitch or (y) the short-short- term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "F2" (or its equivalent) by Fitch (each of (x) and (y) a "First Subsequent Fitch Rating Event") then Party A will, on a reasonable efforts basis and at its own cost and expense, either: