Examples of Downgrade in a sentence
The Account Bank shall administer, credit and debit each of the Distribution Account, the Cash Collateral Account, the Counterparty Downgrade Collateral Account and the Accumulation Account and separately in accordance with the terms and provisions hereunder.
The Counterparty Downgrade Collateral Account may be supplemented by a securities account to be opened with The Bank of New York Mellon, London Branch following the downgrade of the Swap Counterparty's ratings, and may not go into overdraft.
The Account Bank confirms that it has opened the Counterparty Downgrade Collateral Account in the name of and for the benefit of the Issuer with IBAN XX00XXXX00000000000000 which is subject to English law and denominated in Sterling.
The Counterparty Downgrade Collateral Account is a cash only account.