Counterparty Rating Agency Downgrade Sample Clauses

Counterparty Rating Agency Downgrade. If Party A no longer has a long-term credit rating of at least A (or its equivalent) from at least one of the Rating Agencies rating the Certificates (a “Counterparty Rating Agency Downgrade”), provided that none of the following events shall occur: Party A shall, no later than the 30th day following the Counterparty Rating Agency Downgrade, either (1) obtain a substitute Counterparty that is a bank or other financial institution that has a long-term credit rating of at least A (or its equivalent) from at least one of the Rating Agencies rating the Certificates (the “Counterparty Rating Requirement”), (2) obtain a guaranty of or a contingent agreement of another person with a long-term credit rating of at least A (or its equivalent) from at least one of the Rating Agencies rating the Certificates to honor Party A’s obligations hereunder, (3) post collateral under the Credit Support Annex attached hereto and made a part hereof, or (4) restore its long-term credit rating to at least A (or its equivalent) from at least one of the Rating Agencies rating the Certificates. As used herein: (i) “Moody’s” means Xxxxx’x Investors Service, Inc., or any successor nationally recognized statistical rating organization, (ii) “S&P” means Standard & Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc. or any successor nationally recognized statistical rating organization, (iii) “Fitch” means Fitch Ratings, or any successor nationally recognized statistical rating organization, and (iv) “Rating Agency” means Xxxxx’x, S&P, or Fitch.
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Counterparty Rating Agency Downgrade. If any Counterparty no longer has a long-term credit rating of at least A (or its equivalent) from at least one of the Rating Agencies (a "Counterparty Rating Agency Downgrade"), the applicable Counterparty, shall, no later than the 30th day following the Counterparty Rating Agency Downgrade, at such Counterparty's expense: (i) obtain a replacement counterparty that is a bank or other financial institution that has a rating that is in one of the three highest long-term credit rating categories from at least one of the Rating Agencies rating the Certificates; (ii) obtain a guaranty of or a contingent agreement of another person with a long-term credit rating of at least A (or its equivalent) from at least one of the Rating Agencies to honor such Counterparty's obligations under the applicable Interest Rate Cap Agreement; (iii) cause such Counterparty to post mxxx-to-market collateral with the Trustee in an amount sufficient to restore the immediately prior ratings of the Offered Certificates; or (iv) establish any other arrangement satisfactory to the Rating Agencies to restore the ratings of the Offered Certificates. 135
Sample 1
Counterparty Rating Agency Downgrade. If Party A no longer has a long-term credit rating of at least A (or its equivalent) from at least one of the Rating Agencies (a “Counterparty Rating Agency Downgrade”), provided that none of the following events shall occur: Party A shall, no later than the 30th day following the Counterparty Rating Agency Downgrade, either (1) obtain a substitute Counterparty that is a bank or other financial institution that has a rating that is in one of the three highest long-term credit rating categories from at least one of the Rating Agencies rating the Certificates, (2) obtain a guaranty of or a contingent agreement of another person with a long-term credit rating of at least A (or its equivalent) from at least one of the Rating Agencies to honor Party A’s obligations hereunder, or (3) restore its long-term credit rating to at least A (or its equivalent) from at least one of the Rating Agencies. As used herein: (i) “Moody’s” means Xxxxx’x Investors Service, Inc., or any successor nationally recognized statistical rating organization, (ii) “S&P” means Standard & Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc. or any successor nationally recognized statistical rating organization, (iii) “Fitch” means Fitch Ratings, or any successor nationally recognized statistical rating organization, and (iv) “Rating Agency” means Xxxxx’x, S&P, or Fitch. For the purpose of the foregoing Termination Event, the Affected Party shall be Party A.
Sample 1
Counterparty Rating Agency Downgrade. As defined in Section 4.08(f) herein.
Sample 1
Counterparty Rating Agency Downgrade. (i) If a Ratings Event (as defined below) occurs with respect to Party A (or any applicable Credit Support Provider), then Party A shall, within thirty (30) days of such Ratings Event, and at its own expense (unless, within 30 days of such Ratings Event, each of Standard and Poor’s Ratings Services, a Division of XxXxxx-Xxxx Companies, Inc. (“S&P”), Xxxxx’x Investors Service, Inc. (“Moody’s”) and Fitch, Inc. (“Fitch”) (each a “Rating Agency”) has reconfirmed the rating of the Certificates that was in effect immediately prior to such Ratings Event), (A) assign this Transaction hereunder to a third party that meets or exceeds, or as to which any applicable Credit Support Provider of such third party meets or exceeds, the Approved Ratings Threshold (as defined below) on terms substantially similar to this Confirmation, (B) deliver collateral satisfactory to S&P pursuant to an ISDA Credit Support Annex (subject to New York Law) with a form of Paragraph 13 in the form annexed hereto (the “CSA”), (C) obtain, subject to an S&P Confirmation, a guaranty of Party A’s obligations under this Transaction, or (D) establish, subject to an S&P Confirmation (as defined below), any other arrangement which will be sufficient to restore the immediately prior ratings of the Certificates. For purposes of this Transaction, a “Ratings Event” shall occur with respect to Party A (or any applicable Credit Support Provider), if its ratings fall below the Approved Ratings Threshold. “
Sample 1
Counterparty Rating Agency Downgrade. If a Ratings Downgrade Event or a Required Ratings Downgrade Event has occurred and is continuing and Party A fails to take any action described in Part (5)(d) within the time period specified therein, then an Additional Termination Event shall have occurred, with respect to which Party A shall be the sole Affected Party.
Sample 1
Counterparty Rating Agency Downgrade. If a Relevant Entity no longer has credit ratings at least equal to the Ratings Threshold, then Party A shall, as soon as reasonably practicable (but no later than the 30th day following the Ratings Downgrade Event), at its own expense, using commercially reasonable efforts, either (A) procure a Permitted Transfer, (B) procure an Eligible Guarantee from an Eligible Guarantor, (C) post collateral under the Credit Support Annex attached hereto and made a part hereof or (D) restore its credit ratings to at least the Ratings Threshold; provided, however that Party A will be required to take the actions in clauses (A)-(D) above immediately upon the occurrence of a Required Ratings Downgrade Event. Indy Mac INDX Mortgage Loan Trust 2006-AR41 Schedule
Sample 1
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Counterparty Rating Agency Downgrade. If the Counterparty no longer has a long-term credit rating of at least "A" (or its equivalent) from at least one of the Rating Agencies (a "COUNTERPARTY RATING AGENCY DOWNGRADE"), provided that neither of the following events shall occur: Party A shall, no later than the 30th day following the Counterparty Rating Agency Downgrade, either (1) obtain a substitute Counterparty that is a bank or other financial institution that has a rating that is in one of the three highest long-term credit rating categories from at least one of the Rating Agencies rating the Certificates, (2) obtain a guaranty of or a contingent agreement of another person with a long-term credit rating of at least A (or its equivalent) from at least one of the Rating Agencies to honor Party A's obligations hereunder, (3) post collateral under the Credit Support Annex attached hereto and made a part hereof, or (4) establish any other arrangement satisfactory to the Rating Agencies to restore the ratings of the Offered Certificates. As used herein: (i) "MOODY'S" means Xxxxx'x Investors Service, Inc., or any successor nationally recognized statistical rating organization, (ii) "S&P" means Standard & Poor's Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc. or any successor nationally recognized statistical rating organization, (iii) "FITCH" means Fitch Ratings, or any successor nationally recognized statistical rating organization, and (iv) "RATING AGENCY" means Xxxxx'x, S&P, or Fitch.
Sample 1

Related to Counterparty Rating Agency Downgrade

  • Rating Agency Downgrade In the event that DBAG’s short-term unsecured and unsubordinated debt rating is reduced below “A-1” by S&P or, if DBAG has both a long-term credit rating and a short-term credit rating from Moody’s, and either its long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “A2” by Moody’s or its short-term credit rating is withdrawn or reduced below “P-1” by Moody’s (and together with S&P, the “Swap Rating Agencies”, and such rating thresholds, “Approved Rating Thresholds”), then within 30 days after such rating withdrawal or downgrade, DBAG shall, subject to the Rating Agency Condition and at its own expense, either (i) cause another entity to replace DBAG as party to this Agreement that meets or exceeds the Approved Rating Thresholds on terms substantially similar to this Agreement, (ii) obtain a guaranty of, or a contingent agreement of another person with the Approved Rating Thresholds, to honor, DBAG’s obligations under this Agreement, (iii) post collateral which will be sufficient to restore the immediately prior ratings of the Certificates and any Notes, or (iv) establish any other arrangement which will be sufficient to restore the immediately prior ratings of the Certificates and any Notes. In the event that DBAG’s long-term unsecured and unsubordinated debt rating is reduced below “BBB-” or its short-term unsecured and unsubordinated debt rating is reduced below “A-3” or is withdrawn by S&P or DBAG’s long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “A3” by Moody’s or its short-term credit rating is reduced below “P-2” by Moody’s, then within 10 days after such rating withdrawal or downgrade, DBAG shall, subject to the Rating Agency Condition and at its own expense, either (i) cause another entity to replace DBAG as party to this Agreement that meets or exceeds the Approved Rating Thresholds on terms substantially similar to this Agreement or (ii) obtain a guaranty of, or a contingent agreement of another person with the Approved Rating Thresholds to honor, DBAG’s obligations under this Agreement. In either case, DBAG shall deliver collateral acceptable to the Swap Rating Agencies until DBAG has made such transfer or obtained a guaranty as set forth in (i) and (ii) above. For purposes of this provision, “Rating Agency Condition” means, with respect to any particular proposed act or omission to act hereunder that the party acting or failing to act must consult with each of the Swap Rating Agencies then providing a rating of the Certificates and any Notes and receive from each of the Swap Rating Agencies a prior written confirmation that the proposed action or inaction would not cause a downgrade or withdrawal of the then-current rating of the Certificates or any Note.

  • Rating Agencies To the extent, if any, that the ratings provided with respect to the Offered Certificates by certain nationally recognized statistical rating organizations (as described in Section 6(q)) are conditional upon the furnishing of documents or the taking of any other action by the Depositor, the Depositor shall use its best efforts to furnish such documents and take any other such action.

  • Required Ratings The Offered Certificates shall have received Required Ratings of at least [ ] from [ ].

  • Moody’s 37 Mortgage.....................................................................37

  • Notice to Rating Agencies The Trustee shall use its best efforts promptly to provide notice to the Rating Agencies with respect to each of the following of which it has actual knowledge:

  • Rating Agency Notifications Notwithstanding any other provision of this Agreement, no Early Termination Date shall be effectively designated hereunder by Party B and no transfer of any rights or obligations under this Agreement shall be made by either party unless each Swap Rating Agency has been given prior written notice of such designation or transfer.

  • Rating Agency Fees The Depositor shall pay (or cause to be paid) the annual fees of each Rating Agency including, but not limited to, surveillance fees.

  • Ratings Downgrade For purposes of each Transaction:

  • Debt Ratings Prompt notice of any change in its Debt Ratings.

  • Debt Rating The Liquidity Provider has a short-term debt ratings of “P-1” from Xxxxx’x and “F1+” from Fitch.

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