Common use of Xxxxx’x Second Rating Trigger Replacement Clause in Contracts

Xxxxx’x Second Rating Trigger Replacement. (A) The Xxxxx’x Second Rating Trigger Requirements apply and 30 or more Local Business Days have elapsed since the last time the Xxxxx’x Second Rating Trigger Requirements did not apply and (B) (i) at least one Eligible Replacement has made a Firm Offer (which remains capable of becoming legally binding upon acceptance) to be the transferee of a transfer to be made in accordance with Part 5(f)(ii) below and/or (ii) at least one entity with the Xxxxx’x First Trigger Required Ratings and/or the Xxxxx’x Second Trigger Required Ratings has made a Firm Offer (which remains capable of becoming legally binding upon acceptance by the offeree) to provide an Eligible Guarantee in respect of all of Party A’s present and future obligations under this Agreement.

Appears in 9 contracts

Samples: Master Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-1), Master Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-1), Master Agreement (HarborView 2007-7)

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Xxxxx’x Second Rating Trigger Replacement. (Ax) The Xxxxx’x Second Rating Trigger Requirements apply and 30 or more Local Business Days have elapsed since the last time the Xxxxx’x Second Rating Trigger Requirements did not apply and (By) (i) at least one Eligible Replacement has made a Firm Offer (which remains capable of becoming legally binding upon acceptance) to be the transferee of a transfer to be made in accordance with Part 5(f)(ii5(r) below and/or (ii) at least one entity with the Xxxxx’x First Trigger Required Ratings and/or the Xxxxx’x Second Trigger Required Ratings has made a Firm Offer (which remains capable of becoming legally binding upon acceptance by the offeree) to provide an Eligible Guarantee in respect of all of Party A’s present and future obligations under this Agreement.

Appears in 3 contracts

Samples: Master Agreement (GE Capital Credit Card Master Note Trust), Master Agreement (GE Capital Credit Card Master Note Trust), Master Agreement (GE Capital Credit Card Master Note Trust)

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Xxxxx’x Second Rating Trigger Replacement. (A) The Xxxxx’x Second Rating Trigger Requirements apply and 30 or more Local Business Days have elapsed since the last time the Xxxxx’x Second Rating Trigger Requirements did not apply and (B) (i) at least one Eligible Replacement has made a Firm Offer (which remains capable of becoming legally binding upon acceptance) to be the transferee of a transfer to be made in accordance with Part 5(f)(ii5(14)(ii) below and/or (ii) at least one entity with the Xxxxx’x First Trigger Required Ratings and/or the Xxxxx’x Second Trigger Required Ratings has made a Firm Offer (which remains capable of becoming legally binding upon acceptance by the offeree) to provide an Eligible Guarantee in respect of all of Party A’s present and future obligations under this Agreement.

Appears in 1 contract

Samples: Isda Master Agreement (CNH Capital Receivables LLC)

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