Common use of Ratings Event Clause in Contracts

Ratings Event. (i) In the event that the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as ["A-1+"] by Standard & Poor's Rating Services, a division of The XxXxxx-Xxxx Companies, Inc. ("S&P") and, as a result of such cessation, the then current rating of the Series [2/4] Class [A/B/M[/C]] Fourth Issuer Notes is downgraded or placed under review for possible downgrade by S&P (an "INITIAL S&P RATING EVENT"), then Party A will, within 30 days of the occurrence of such Initial S&P Rating Event, at its own cost either:

Ratings Event. (i) In the event that the short-term, unsecured and unsubordinated debt obligations of Party A (or its successorsuccessor or assignee) or and, if relevant, any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as A, are downgraded below ["A-1+"] by Standard & Poor's Rating Services, a division of The XxXxxxMcGraw-Xxxx Companies, Hill Companies Inc. ("S&P") and, as a result of such cessationresulx xx xxxx xowngrade, the then current rating of the Series [2/4] 1 Class [A/B/M[/C]] Fourth B Sixth Issuer Notes is may in the reasonable opinion of S&P be downgraded or placed under review for possible downgrade by S&P (an "INITIAL S&P RATING EVENT"), then Party A will, within 30 days of the occurrence of such Initial S&P Rating Event, at its own cost cost, either:

Ratings Event. (i) In the event that the short-term, unsecured and unsubordinated debt obligations of Party A (or its successorsuccessor or assignee) or and, if relevant, any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as A, are downgraded below ["A-1+"] by Standard & Poor's Rating Services, a division of The XxXxxxMcGraw-Xxxx Companies, Hill Companies Inc. ("S&P") and, as a result of such cessationxxxxxrade, the then current rating of the Series [2/4] 1 Class [A/B/M[/C]] Fourth A Sixth Issuer Notes is may in the reasonable opinion of S&P be downgraded or placed under review for possible downgrade by S&P (an "INITIAL S&P RATING EVENT"), then Party A will, within 30 days of the occurrence of such Initial S&P Rating Event, at its own cost cost, either:

Ratings Event. (i) In If the event that the shortlong-term, unsecured and unsubordinated debt obligations of Party A (or its successor) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as ["A-1+"] AA-" by Standard & Poor's Rating Services, a division of The XxXxxx-Xxxx Companies, Inc. ("S&P") and, as a result of such cessation, the then current rating of the Series [2/4] 2 Class [A/B/M[/C]C] Fourth Seventh Issuer Notes is downgraded or placed under review for possible downgrade by S&P (an "INITIAL S&P RATING EVENT"), then Party A will, within 30 days of the occurrence of such Initial S&P Rating Event, at its own cost either:

Ratings Event. (i) In the event that the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as ["A-1+"] by Standard & Poor's Rating Services, a division of The XxXxxx-Xxxx Companies, Inc. ("S&P") and, as a result of such cessation, the then current rating of the Series [2/4] 1 Class [A/B/M[/C]M] Fourth Issuer Notes is downgraded or placed under review for possible downgrade by S&P (an "INITIAL S&P RATING EVENT"), then Party A will, within 30 days of the occurrence of such Initial S&P Rating Event, at its own cost either:

Ratings Event. (i) In the event that If the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as ["A-1+"] by Standard & Poor's Rating Services, a division of The XxXxxx-Xxxx Companies, Inc. ("S&P") and, as a result of such cessation, the then current rating of the Series [2/4] 2 Class [A/B/M[/C]C] Fourth Eighth Issuer Notes is downgraded or placed under review for possible downgrade by S&P (an "INITIAL S&P RATING EVENT"), then Party A will, within 30 days of the occurrence of such Initial S&P Rating Event, will at its own cost either:

Ratings Event. (i) In the event that the short-term, unsecured and unsubordinated debt obligations of Party A (or its successorsuccessor or assignee) or and, if relevant, any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as A, are downgraded below ["A-1+"] by Standard & Poor's Rating Services, a division of The XxXxxxMcGraw-Xxxx Companies, Hill Companies Inc. ("S&P") and, as a result of such cessationresulx xx xxxx xowngrade, the then current rating of the Series [2/4] 1 Class [A/B/M[/C]] Fourth C Sixth Issuer Notes is may in the reasonable opinion of S&P be downgraded or placed under review for possible downgrade by S&P (an "INITIAL S&P RATING EVENT"), then Party A will, within 30 days of the occurrence of such Initial S&P Rating Event, at its own cost cost, either:

Ratings Event. (i) In the event that If the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as ["A-1+"] by Standard & Poor's Rating Services, a division of The XxXxxx-Xxxx Companies, Inc. ("S&P") and, as a result of such cessation, the then current rating of the Series [2/4] 3 Class [A/B/M[/C]C] Fourth Eighth Issuer Notes is downgraded or placed under review for possible downgrade by S&P (an "INITIAL S&P RATING EVENT"), then Party A will, within 30 days of the occurrence of such Initial S&P Rating Event, will at its own cost either:

Ratings Event. (i) In the event that If the short-term, unsecured and unsubordinated debt obligations of [Party A (or its successor) or any Credit Support Provider from time to time in respect of Party A/the Credit Support Provider of Party A (or its successor)] cease to be rated at least as high as ["A-1+"] by Standard & Poor's Rating Services, a division of The XxXxxxMcGraw-Xxxx Hill Companies, Inc. ("S&P") and, as a result of such cessationsucx xxxxxxxxx, the then current rating of the Series [2/4] Class [A/B/M[/C]] Fourth Issuer Relevant Notes is downgraded or placed under review for possible downgrade by S&P (an "INITIAL S&P RATING EVENT"), then Party A will, within 30 days of the occurrence of such Initial S&P Rating Event, will at its own cost either: