Common use of Multi-Series Letter of Credit Providers Clause in Contracts

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 2023-6 Required Enhancement Amount over the Series 2023-6 Enhancement Amount, excluding the amount allocated to the Series 2023-6 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 2023-6 Required Liquidity Amount over the Series 2023-6 Liquidity Amount, excluding the amount allocated to the Series 2023-6 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 2023-6 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2023-6 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x Moody’s or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x Moody’s or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 2023-6 1 Required Enhancement Amount over the Series 2023-6 1 Enhancement Amount, excluding the amount allocated to the Series 2023-6 1 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 2023-6 1 Required Liquidity Amount over the Series 2023-6 1 Liquidity Amount, excluding the amount allocated to the Series 2023-6 1 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 2023-6 1 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2023-6 1 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232024-6 3 Required Enhancement Amount over the Series 20232024-6 3 Enhancement Amount, excluding the amount allocated to the Series 20232024-6 3 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232024-6 3 Required Liquidity Amount over the Series 20232024-6 3 Liquidity Amount, excluding the amount allocated to the Series 20232024-6 3 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232024-6 3 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232024-6 3 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (ix) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1BBB” as determined by Xxxxx’x or “A+” as determined by Fitch or DBRS, (iiy) the shortlong-term senior unsecured debt credit rating of any such Multi-Series Letter of Credit Provider has fallen below “P-1Baa2” as determined by Xxxxx’x or Mxxxx’x and (z) the long-term senior unsecured debt rating of such Multi-Series Letter of Credit Provider has fallen below “F1BBB” as determined by FitchStandard & Poor’s. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232015-6 3 Required Enhancement Amount over the Series 20232015-6 3 Enhancement Amount, excluding the amount allocated to the Series 20232015-6 3 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232015-6 3 Required Liquidity Amount over the Series 20232015-6 3 Liquidity Amount, excluding the amount allocated to the Series 20232015-6 3 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232015-6 3 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232015-6 3 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x Moody’s or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x Moody’s or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 2023-6 3 Required Enhancement Amount over the Series 2023-6 3 Enhancement Amount, excluding the amount allocated to the Series 2023-6 3 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 2023-6 3 Required Liquidity Amount over the Series 2023-6 3 Liquidity Amount, excluding the amount allocated to the Series 2023-6 3 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 2023-6 3 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2023-6 3 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x Moody’s or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x Moody’s or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 2023-6 2 Required Enhancement Amount over the Series 2023-6 2 Enhancement Amount, excluding the amount allocated to the Series 2023-6 2 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 2023-6 2 Required Liquidity Amount over the Series 2023-6 2 Liquidity Amount, excluding the amount allocated to the Series 2023-6 2 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 2023-6 2 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2023-6 2 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232021-6 1 Required Enhancement Amount over the Series 20232021-6 1 Enhancement Amount, excluding the amount allocated to the Series 20232021-6 1 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232021-6 1 Required Liquidity Amount over the Series 20232021-6 1 Liquidity Amount, excluding the amount allocated to the Series 20232021-6 1 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232021-6 1 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232021-6 1 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232022-6 1 Required Enhancement Amount over the Series 20232022-6 1 Enhancement Amount, excluding the amount allocated to the Series 20232022-6 1 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232022-6 1 Required Liquidity Amount over the Series 20232022-6 1 Liquidity Amount, excluding the amount allocated to the Series 20232022-6 1 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232022-6 1 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232022-6 1 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (ix) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1BBB” as determined by Xxxxx’x or “A+” as determined by Fitch or DBRS, (iiy) the shortlong-term senior unsecured debt credit rating of any such Multi-Series Letter of Credit Provider has fallen below “P-1Baa2” as determined by Xxxxx’x or and (z) the long-term senior unsecured debt rating of such Multi-Series Letter of Credit Provider has fallen below “F1BBB” as determined by FitchStandard & Poor’s). At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232010-6 Required Enhancement Amount over the Series 20232010-6 Enhancement Amount, excluding the amount allocated to the Series 20232010-6 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232010-6 Required Liquidity Amount over the Series 20232010-6 Liquidity Amount, excluding the amount allocated to the Series 20232010-6 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232010-6 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232010-6 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1BBB” as determined by Xxxxx’x or “A+” as determined DBRS (or, if such Multi-Series Letter of Credit Provider was not rated by Fitch or DBRS at the time of issuance of the related Multi-Series Letter of Credit, if (iix) the shortlong-term senior unsecured debt credit rating of any such Multi-Series Letter of Credit Provider has fallen below “P-1Baa2” as determined by Xxxxx’x or and (y) the long-term senior unsecured debt rating of such Multi-Series Letter of Credit Provider has fallen below “F1BBB” as determined by FitchStandard & Poor’s). At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232015-6 3 Required Enhancement Amount over the Series 20232015-6 3 Enhancement Amount, excluding the amount allocated to the Series 20232015-6 3 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232015-6 3 Required Liquidity Amount over the Series 20232015-6 3 Liquidity Amount, excluding the amount allocated to the Series 20232015-6 3 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232015-6 3 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232015-6 3 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (ix) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1BBB” as determined by Xxxxx’x or “A+” as determined by Fitch or DBRS, (iiy) the shortlong-term senior unsecured debt credit rating of any such Multi-Series Letter of Credit Provider has fallen below “P-1Baa2” as determined by Xxxxx’x or and (z) the long-term senior unsecured debt rating of such Multi-Series Letter of Credit Provider has fallen below “F1BBB” as determined by FitchStandard & Poor’s. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232010-6 Required Enhancement Amount over the Series 20232010-6 Enhancement Amount, excluding the amount allocated to the Series 20232010-6 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232010-6 Required Liquidity Amount over the Series 20232010-6 Liquidity Amount, excluding the amount allocated to the Series 20232010-6 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232010-6 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232010-6 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232024-6 2 Required Enhancement Amount over the Series 20232024-6 2 Enhancement Amount, excluding the amount allocated to the Series 20232024-6 2 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232024-6 2 Required Liquidity Amount over the Series 20232024-6 2 Liquidity Amount, excluding the amount allocated to the Series 20232024-6 2 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232024-6 2 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232024-6 2 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 2023-6 7 Required Enhancement Amount over the Series 2023-6 7 Enhancement Amount, excluding the amount allocated to the Series 2023-6 7 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 2023-6 7 Required Liquidity Amount over the Series 2023-6 7 Liquidity Amount, excluding the amount allocated to the Series 2023-6 7 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 2023-6 7 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2023-6 7 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 2023-6 5 Required Enhancement Amount over the Series 2023-6 5 Enhancement Amount, excluding the amount allocated to the Series 2023-6 5 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 2023-6 5 Required Liquidity Amount over the Series 2023-6 5 Liquidity Amount, excluding the amount allocated to the Series 2023-6 5 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 2023-6 5 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2023-6 5 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (ix) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1BBB” as determined by Xxxxx’x or “A+” as determined by Fitch or DBRS, (iiy) the shortlong-term senior unsecured debt credit rating of any such Multi-Series Letter of Credit Provider has fallen below “P-1Baa2” as determined by Xxxxx’x or Moody’s and (z) the long-term senior unsecured debt rating of such Multi-Series Letter of Credit Provider has fallen below “F1BBB” as determined by FitchStandard & Poor’s. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232015-6 3 Required Enhancement Amount over the Series 20232015-6 3 Enhancement Amount, excluding the amount allocated to the Series 20232015-6 3 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232015-6 3 Required Liquidity Amount over the Series 20232015-6 3 Liquidity Amount, excluding the amount allocated to the Series 20232015-6 3 Notes and available under such Multi-Series Letter of Credit, on 100 such date, and (ii) the amount allocated to the Series 20232015-6 3 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232015-6 3 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x Mxxxx’x or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x Mxxxx’x or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232024-6 1 Required Enhancement Amount over the Series 20232024-6 1 Enhancement Amount, excluding the amount allocated to the Series 20232024-6 1 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232024-6 1 Required Liquidity Amount over the Series 20232024-6 1 Liquidity Amount, excluding the amount allocated to the Series 20232024-6 1 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232024-6 1 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232024-6 1 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x Moody’s or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x Moody’s or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 2023-6 4 Required Enhancement Amount over the Series 2023-6 4 Enhancement Amount, excluding the amount allocated to the Series 2023-6 4 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 2023-6 4 Required Liquidity Amount over the Series 2023-6 4 Liquidity Amount, excluding the amount allocated to the Series 2023-6 4 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 2023-6 4 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2023-6 4 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 2023-6 8 Required Enhancement Amount over the Series 2023-6 8 Enhancement Amount, excluding the amount allocated to the Series 2023-6 8 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of 45 the Series 2023-6 8 Required Liquidity Amount over the Series 2023-6 8 Liquidity Amount, excluding the amount allocated to the Series 2023-6 8 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 2023-6 8 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 2023-6 8 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x or “A+A (high)” as determined by Fitch DBRS or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x or “F1R-1” as determined by FitchDBRS. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232021-6 2 Required Enhancement Amount over the Series 20232021-6 2 Enhancement Amount, excluding the amount allocated to the Series 20232021-6 2 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232021-6 2 Required Liquidity Amount over the Series 20232021-6 2 Liquidity Amount, excluding the amount allocated to the Series 20232021-6 2 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232021-6 2 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232021-6 2 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (i) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1” as determined by Xxxxx’x Moody’s or “A+” as determined by Fitch or (ii) the short-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “P-1” as determined by Xxxxx’x Moody’s or “F1” as determined by Fitch. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232022-6 5 Required Enhancement Amount over the Series 20232022-6 5 Enhancement Amount, excluding the amount allocated to the Series 20232022-6 5 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232022-6 5 Required Liquidity Amount over the Series 20232022-6 5 Liquidity Amount, excluding the amount allocated to the Series 20232022-6 5 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232022-6 5 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232022-6 5 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (ix) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1BBB” as determined by Xxxxx’x or “A+” as determined by Fitch or DBRS, (iiy) the shortlong-term senior unsecured debt credit rating of any such Multi-Series Letter of Credit Provider has fallen below “P-1Baa2” as determined by Xxxxx’x or Moody’s and (z) the long-term senior unsecured debt rating of such Multi-Series Letter of Credit Provider has fallen below “F1BBB” as determined by FitchStandard & Poor’s). At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232022-6 2 Required Enhancement Amount over the Series 20232022-6 2 Enhancement Amount, excluding the amount allocated to the Series 20232022-6 2 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232022-6 2 Required Liquidity Amount over the Series 20232022-6 2 Liquidity Amount, excluding the amount allocated to the Series 20232022-6 2 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232022-6 2 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232022-6 2 Cash Collateral Account.

Multi-Series Letter of Credit Providers. The Administrator shall notify the Trustee in writing within one (1) Business Day of becoming aware that (ix) the long-term senior unsecured debt credit rating of any Multi-Series Letter of Credit Provider has fallen below “A1BBB” as determined by Xxxxx’x or “A+” as determined by Fitch or DBRS, (iiy) the shortlong-term senior unsecured debt credit rating of any such Multi-Series Letter of Credit Provider has fallen below “P-1Baa2” as determined by Xxxxx’x or Moody’s and (z) the long-term senior unsecured debt rating of such Multi-Series Letter of Credit Provider has fallen below “F1BBB” as determined by FitchStandard & Poor’s. At such time the Administrator shall also notify the Trustee of (i) the greater of (A) the excess, if any, of the Series 20232010-6 Required Enhancement Amount over the Series 20232010-6 Enhancement Amount, excluding the amount allocated to the Series 20232010-6 Notes and available under such Multi-Series Letter of Credit issued by such Multi-Series Letter of Credit Provider, on such date, and (B) the excess, if any, of the Series 20232010-6 Required Liquidity Amount over the Series 20232010-6 Liquidity Amount, excluding the amount allocated to the Series 20232010-6 Notes and available under such Multi-Series Letter of Credit, on such date, and (ii) the amount allocated to the Series 20232010-6 Notes and available to be drawn on such Multi-Series Letter of Credit on such date. Upon receipt of such notice by the Trustee on or prior to 10:00 a.m. (New York City time) on any Business Day, the Trustee shall, by 12:00 noon (New York City time) on such Business Day (or, in the case of any notice given to the Trustee after 10:00 a.m. (New York City time), by 12:00 noon (New York City time) on the next following Business Day), draw on such Multi-Series Letter of Credit in an amount equal to the lesser of the amounts in clause (i) and clause (ii) of the immediately preceding sentence on such Business Day by presenting a draft accompanied by a Certificate of Termination Demand and shall cause the Termination Disbursement to be deposited in the Series 20232010-6 Cash Collateral Account.