Subsequent DBRS Rating Event Sample Clauses

Subsequent DBRS Rating Event. In the event that the Long-Term DBRS Rating of both Party A (or its successor) and any Credit Support Provider from time to time in respect of Party A ceases to be at least as high as “BBB” (a “Subsequent DBRS Rating Event”) then Party A will: (a) as soon as practicable, but in any event within 30 Local Business Days from the occurrence of such Subsequent DBRS Rating Event (or, if the Subsequent DBRS Rating Event occurs at a time when an Initial DBRS Rating Event is continuing, within 30 Local business Days from the occurrence of such Initial DBRS Rating Event) and at its own cost, transfer collateral in accordance with the provisions of the Credit Support Annex; and (b) use commercially reasonable efforts to, at its own cost, either: (I) subject to Part 5(e) (Transfers), transfer all of its rights and obligations under this Agreement to a DBRS Eligible Counterparty which (if such DBRS Eligible Counterparty is not a First Threshold DBRS Compliant Entity) will transfer collateral in accordance with the provisions of the Credit Support Annex and this Agreement; (II) procure an entity with a Long-Term DBRS Rating of at least as high as “BBB” to provide a DBRS Eligible Guarantee in respect of the obligations of Party A under this Agreement (provided that, if such entity is not a First Threshold DBRS Compliant Entity, Party A will transfer collateral in accordance with the provisions of the Credit Support Annex and this Agreement); or (III) take such other action (which may, for the avoidance of doubt, include taking no action) as will result in the rating of the Relevant Notes following the taking of such action being maintained at, or restored to, the level it was at immediately prior to such Subsequent DBRS Rating Event. If any of the measures described in paragraphs (b)(I), (II) or (III) of this Part 5(d)(I)(2) are satisfied at any time, Party A will not be required to transfer any additional collateral in respect of that Subsequent DBRS Rating Event. If, at any time following the occurrence of a Subsequent DBRS Rating Event, the Long-Term DBRS Rating of Party A is at least as high as "BBB" or the Long-Term DBRS Rating of the Credit Support Provider in respect of Party A is at least as high as "BBB ", Party A shall not be under an obligation to comply with the provisions of Part 5(d)(I)(2) (a) and (b) (but shall remain subject to its obligations under Part 5(d)(I)(1), unless another Subsequent DBRS Rating Event occurs. If both an Initial DBRS Rating Event a...