Subsequent S&P Rating Event. In the event that neither Party A nor any Credit Support Provider from time to time of Party A has the Subsequent S&P Required Rating (a "Subsequent S&P Rating Event"), then: (i) Party A shall, within the Collateral Remedy Period, post collateral in accordance with the terms of the Credit Support Annex (unless Option 4 has been elected in accordance with the S&P Substitution Provisions, in which case this sub-paragraph (i) shall not apply); and (ii) Party A shall use commercially reasonable efforts to, as soon as reasonably practicable, at its own cost:
Appears in 2 contracts
Sources: Amendment and Restatement Agreement, Amendment and Restatement Agreement
Subsequent S&P Rating Event. In the event that neither Party A nor any Credit Support Provider from time to time of Party A has the Subsequent S&P Required Rating (a "Subsequent S&P Rating Event"), then:
(i) Party A shall, within the Collateral Remedy Period, post collateral in accordance with the terms of the Credit Support Annex (unless Option 4 has been elected in accordance with the S&P Substitution Provisions, in which case this sub-paragraph paragraph
(i) shall not apply); and
(ii) Party A shall use commercially reasonable efforts to, as soon as reasonably practicable, at its own cost:
Appears in 1 contract
Sources: Amendment and Restatement Agreement