Common use of Program Support Agreement Downgrade Provisions Clause in Contracts

Program Support Agreement Downgrade Provisions. Notwithstanding the other provisions of this Section 1.2, a ▇▇ ▇▇▇▇ Institutional Lender shall not be required to make a ▇▇ ▇▇▇▇ Downgrade Draw (or provide for the issuance of a letter of credit in lieu thereof) pursuant to Section 1.2(a) of this Annex C at a time when such ▇▇ ▇▇▇▇ Institutional Lender has a downgrade collateral account (or letter of credit in lieu thereof) established pursuant to the Liquidity Purchase Agreement relating to the transactions contemplated by this Agreement to which it is a party in an amount at least equal to its unused Commitment, and the ▇▇ ▇▇▇▇ Lender Agent may apply monies in such downgrade collateral account in the manner described in Section 1.3(b) of this Annex C as if such downgrade collateral account were a ▇▇ ▇▇▇▇ Downgrade Collateral Account.

Program Support Agreement Downgrade Provisions. Notwithstanding the other provisions of this Section 1.2, a ▇▇ ▇▇▇▇ Institutional Lender shall not be required to make a ▇▇ ▇▇▇▇ Downgrade Draw (or provide for the issuance of a letter of credit in lieu thereof) pursuant to Section 1.2(a) of this Annex C B at a time when such ▇▇ ▇▇▇▇ Institutional Lender has a downgrade collateral account (or letter of credit in lieu thereof) established pursuant to the Liquidity Purchase Agreement relating to the transactions contemplated by this Agreement to which it is a party in an amount at least equal to its unused Commitment, and the ▇▇ ▇▇▇▇ Lender Agent may apply monies in such downgrade collateral account in the manner described in Section 1.3(b) of this Annex C B as if such downgrade collateral account were a ▇▇ ▇▇▇▇ Downgrade Collateral Account.