Common use of Acceleration Remedy Clause in Contracts

Acceleration Remedy. The Authority hereby covenants that if it ever provides to a lender, credit or liquidity provider for obligations on parity with the Notes the remedy of acceleration, then such acceleration remedy shall immediately be incorporated herein by reference to this Agreement; provided however, that prior to the effectiveness of any such remedy provision, the Bank shall obtain written confirmation from the Rating Agencies then rating the Notes that such provision is not the basis for such rating agency to reduce, withdraw, suspend or place on negative credit watch the ratings on the Notes. Notwithstanding anything herein to the contrary, this Section 6.21 shall not apply to any agreements now in effect or hereinafter entered into with the Texas Comptroller of Public Accounts or its affiliates.

Acceleration Remedy. The Authority hereby covenants that if it ever provides to a lender, credit or liquidity provider for obligations on parity with the Notes (other than as provided herein) the remedy of acceleration, then such acceleration remedy shall immediately be incorporated herein by reference to this Agreement; provided however, that prior to the effectiveness of any such remedy provision, the Bank or the Authority shall obtain written confirmation from the Rating Agencies then rating the Notes that such provision is not the basis for such rating agency to reduce, withdraw, suspend or place on negative credit watch the ratings on the Notes. Notwithstanding anything herein to the contrary, this Section 6.21 shall not apply to any agreements now in effect or hereinafter entered into with the Texas Comptroller of Public Accounts or its affiliates.

Acceleration Remedy. The Authority hereby covenants that if it ever provides to a lender, credit or liquidity provider for obligations on parity with the Notes the remedy of acceleration, then such acceleration remedy shall immediately be incorporated herein by reference to this Agreement; provided provided, however, that prior to the effectiveness of any such remedy provision, the Bank shall obtain written confirmation from the Rating Agencies then rating the Notes that such provision is not the basis for such rating agency to reduce, withdraw, suspend or place on negative credit watch the ratings on the Notes. Notwithstanding anything herein to the contrary, this Section 6.21 7.21 shall not apply to any agreements now in effect or hereinafter entered into with the Texas Comptroller of Public Accounts or its affiliates.