Common use of Program Downgrade Clause in Contracts

Program Downgrade. The rating on the Commercial Paper Notes shall have been downgraded to A-2 by S&P or P-2 by Mood▇'▇, or less, or withdrawn and all of the Liquidity Lenders shall have a rating of A-1, or better, by S&P and P-1 by Mood▇'▇.

Program Downgrade. The rating on the Commercial Paper Notes ----------------- shall have been downgraded to A-2 by S&P or P-2 by Mood▇▇▇▇▇'▇, or less, or withdrawn withdrawn, and all of the Liquidity Lenders shall have a rating of A-1, or better, by S&P and P-1 Prime-1 by Mood▇▇▇▇▇'▇.

Program Downgrade. The rating on the Commercial Paper Notes shall have been downgraded to A-2 by S&P or S&P, P-2 by Mood▇'▇Moody's or D-1- by DCR, or less, or withdrawn and all of the Liquidity Lenders shall have a rating of A-1, or better, by S&P and P-1 S&P, P-1, or better, by MoodMoody's and, if rated by DCR, ▇'-▇, ▇▇ better, by DCR.