Common use of Addition, Removal and Downgrading of Liquidity Banks Clause in Contracts

Addition, Removal and Downgrading of Liquidity Banks. If at any time either (a) the short-term credit rating assigned to any Liquidity Bank by S&P or Xxxxx’x is withdrawn, downgraded or otherwise below “A-1” or “P-1”, respectively, and with respect to any such Liquidity Bank there is not a confirming obligation under a letter of credit or other similar instrument to fund Liquidity Loans hereunder by a bank that has been assigned a short-term credit rating of at least “A-1” and “P-1” by S&P and Moody’s, respectively, or (b) a Liquidity Bank becomes a Defaulting Liquidity Bank, then BAFC may, upon five (5) Business Days’ prior written notice given to the Administrative Agent and such affected Liquidity Bank, replace such affected Liquidity Bank with a bank having short-term ratings of at least “A-1” by S&P and “P-1” by Moody’s or with a Liquidity Bank already a party to this Agreement (which bank shall sign such documents and instruments as shall be appropriate to assume the obligations of such affected Liquidity Bank hereunder), provided that no such replacement pursuant to this sentence shall be effective unless each Series 2000-1 Rating Agency shall have confirmed in writing to BAFC and the Administrative Agent that such replacement would not result in a withdrawal or reduction of the rating by such Series 2000-1 Rating Agency of the Commercial Paper. In the event that such affected Liquidity Bank is not replaced within thirty (30) days, such affected Liquidity Bank’s Percentage of the Aggregate Liquidity Commitment and its Liquidity Commitment shall be reduced by such amount whereupon the Percentages of the Aggregate Liquidity Commitment of the Liquidity Banks remaining shall be automatically adjusted so as to equal 100% in the aggregate, and the Administrative Agent shall notify the Liquidity Banks of such adjustment, provided that in no event shall any such action under this sentence be effective hereunder if the Credits Outstanding would exceed the Aggregate Available Liquidity Commitment as so reduced unless the provisions of subsection 4.03(c)(ii) are complied with as if such affected Liquidity Bank were an Exiting Bank. Until such time as one of the actions required by the preceding provisions of this Section hereof is completed, the affected Liquidity Bank’s Percentage of the Aggregate Liquidity Commitment shall not be terminated (except as otherwise provided in Section 4.01(a) and Section 5.04).

Addition, Removal and Downgrading of Liquidity Banks. If at any time either (a) the short-term credit rating assigned to any Liquidity Bank by S&P or Xxxxx’x is withdrawn, downgraded or otherwise below “A-1” or “P-1”, respectively, and with respect to any such Liquidity Bank there is not a confirming obligation under a letter of credit or other similar instrument to fund Liquidity Loans hereunder by a bank that has been assigned a short-term credit rating of at least “A-1” and “P-1” by S&P and Moody’s, respectively, or (b) a Liquidity Bank becomes a Defaulting Liquidity Bank, then BAFC may, upon five (5) Business Days’ prior written notice given to the Administrative Agent and such affected Liquidity Bank, replace such affected Liquidity Bank with a bank having short-term ratings of at least “A-1” by S&P and “P-1” by Moody’s or with a Liquidity Bank already a party to this Agreement (which bank shall sign such documents and instruments as shall be appropriate to assume the obligations of such affected Liquidity Bank hereunder), provided that no such replacement pursuant to this sentence shall be effective unless each Series 2000-1 Rating Agency shall have confirmed in writing to BAFC and the Administrative Agent that such replacement would not result in a withdrawal or reduction of the rating by such Series 2000-1 Rating Agency of the Commercial Paper. In the event that such affected Liquidity Bank is not replaced within thirty (30) days, such affected Liquidity Bank’s Percentage of the Aggregate Liquidity Commitment and its Liquidity Commitment shall be reduced by such amount whereupon the Percentages of the Aggregate Liquidity Commitment of the Liquidity Banks remaining shall be automatically adjusted so as to equal 100% in the aggregate, and the Administrative Agent shall notify the Liquidity Banks of such adjustment, provided that in no event shall any such action under this sentence be effective hereunder if the Credits Outstanding would exceed the Aggregate Available Liquidity Commitment as so reduced unless the provisions of subsection 4.03(c)(ii) are complied with as if such affected Liquidity Bank were an Exiting Bank. Until such time as one of the actions required by the preceding provisions of this Section hereof is completed, the affected Liquidity Bank’s Percentage of the Aggregate Liquidity Commitment shall not be terminated (except as otherwise provided in Section 4.01(a) and Section 5.04)terminated.

Addition, Removal and Downgrading of Liquidity Banks. If at any time either (a) the short-term credit rating assigned to any Liquidity Bank by S&P S&P, Xxxxx’x or Xxxxx’x Fitch is withdrawn, downgraded or otherwise below “A-1”, “P-1” or “P-1F1”, respectively, and with respect to any such Liquidity Bank there is not a confirming obligation under a letter of credit or other similar instrument to fund Liquidity Loans hereunder by a bank that has been assigned a short-term credit rating of at least “A-1”, “P-1” and “P-1F1” by S&P S&P, Xxxxx’x and Moody’sFitch, respectively, or (b) a Liquidity Bank becomes a Defaulting Liquidity Bank, then BAFC may, upon five (5) Business Days’ prior written notice given to the Administrative Agent and such affected Liquidity Bank, replace such affected Liquidity Bank with a bank having short-term ratings of at least “A-1” by S&P and S&P, “P-1” by Moody’s Xxxxx’x and “F1” by Fitch or with a Liquidity Bank already a party to this Agreement (which bank shall sign such documents and instruments as shall be appropriate to assume the obligations of such affected Liquidity Bank hereunder), provided that no such replacement pursuant to this sentence shall be effective unless each Series 2000-1 Rating Agency shall have confirmed in writing to BAFC and the Administrative Agent that such replacement would not result in a withdrawal or reduction of the rating by such Series 2000-1 Rating Agency of the Commercial Paper. In the event that such affected Liquidity Bank is not replaced within thirty (30) days, such affected Liquidity Bank’s Percentage of the Aggregate a Liquidity Commitment Tranche and its related Liquidity Commitment shall be reduced by such amount whereupon the Percentages of the Aggregate such Liquidity Commitment Tranche of the Liquidity Banks remaining shall be automatically adjusted so as to equal 100% in the aggregate, and the Administrative Agent shall notify the Liquidity Banks of such adjustment, provided that in no event shall any such action under this sentence be effective hereunder if the Credits Outstanding would exceed the Aggregate Available Liquidity Commitment as so reduced unless the provisions of subsection 4.03(c)(ii) are complied with as if such affected Liquidity Bank were an Exiting Bank. Until such time as one of the actions required by the preceding provisions of this Section hereof is completed, the affected Liquidity Bank’s Percentage of the Aggregate any Liquidity Commitment Tranche shall not be terminated (except as otherwise provided in Section 4.01(a) and Section 5.04)terminated.

Addition, Removal and Downgrading of Liquidity Banks. If at any time either (a) the short-term credit rating assigned to any Liquidity Bank by S&P or Xxxxx’x Xxxxx'x is withdrawn, downgraded or otherwise below “"A-1” " or “"P-1”", respectively, and with respect to any such Liquidity Bank there is not a confirming obligation under a letter of credit or other similar instrument to fund Liquidity Loans hereunder by a bank that has been assigned a short-term credit rating of at least “"A-1” " and “"P-1” " by S&P and Moody’s's, respectively, or (b) a Liquidity Bank becomes a Defaulting Liquidity Bank, then BAFC may, upon five (5) Business Days’ ' prior written notice given to the Administrative Agent and such affected Liquidity Bank, replace such affected Liquidity Bank with a bank having short-term ratings of at least “"A-1” " by S&P and “"P-1” " by Moody’s 's or with a Liquidity Bank already a party to this Agreement (which bank shall sign such documents and instruments as shall be appropriate to assume the obligations of such affected Liquidity Bank hereunder), provided PROVIDED that no such replacement pursuant to this sentence shall be effective unless each Series 2000-1 Rating Agency shall have confirmed in writing to BAFC and the Administrative Agent that such replacement would not result in a withdrawal or reduction of the rating by such Series 2000-1 Rating Agency of the Commercial Paper. In the event that such affected Liquidity Bank is not replaced within thirty (30) days, such affected Liquidity Bank’s 's Percentage of the Aggregate Liquidity Commitment and its Liquidity Commitment shall be reduced by such amount whereupon the Percentages of the Aggregate Liquidity Commitment of the Liquidity Banks remaining shall be automatically adjusted so as to equal 100% in the aggregate, and the Administrative Agent shall notify the Liquidity Banks of such adjustment, provided PROVIDED that in no event shall any such action under this sentence be effective hereunder if the Credits Outstanding would exceed the Aggregate Available Liquidity Commitment as so reduced unless the provisions of subsection 4.03(c)(iiSUBSECTION 4.03(C)(II) are complied with as if such affected Liquidity Bank were an Exiting Bank. Until such time as one of the actions required by the preceding provisions of this Section hereof is completed, the affected Liquidity Bank’s 's Percentage of the Aggregate Liquidity Commitment shall not be terminated (except as otherwise provided in Section 4.01(a) and Section 5.04)terminated.

Addition, Removal and Downgrading of Liquidity Banks. If at any time either (a) the short-term credit rating assigned to any Liquidity Bank by S&P or Xxxxx’x Mxxxx’x is withdrawn, downgraded or otherwise below “A-1” or “P-1”, respectively, and with respect to any such Liquidity Bank there is not a confirming obligation under a letter of credit or other similar instrument to fund Liquidity Loans hereunder by a bank that has been assigned a short-term credit rating of at least “A-1” and “P-1” by S&P and Moody’s, respectively, or (b) a Liquidity Bank becomes a Defaulting Liquidity Bank, then BAFC may, upon five (5) Business Days’ prior written notice given to the Administrative Agent and such affected Liquidity Bank, replace such affected Liquidity Bank with a bank having short-term ratings of at least “A-1” by S&P and “P-1” by Moody’s or with a Liquidity Bank already a party to this Agreement (which bank shall sign such documents and instruments as shall be appropriate to assume the obligations of such affected Liquidity Bank hereunder), provided that no such replacement pursuant to this sentence shall be effective unless each Series 2000-1 Rating Agency shall have confirmed in writing to BAFC and the Administrative Agent that such replacement would not result in a withdrawal or reduction of the rating by such Series 2000-1 Rating Agency of the Commercial Paper. In the event that such affected Liquidity Bank is not replaced within thirty (30) days, such affected Liquidity Bank’s Percentage of the Aggregate Liquidity Commitment and its Liquidity Commitment shall be reduced by such amount whereupon the Percentages of the Aggregate Liquidity Commitment of the Liquidity Banks remaining shall be automatically adjusted so as to equal 100% in the aggregate, and the Administrative Agent shall notify the Liquidity Banks of such adjustment, provided that in no event shall any such action under this sentence be effective hereunder if the Credits Outstanding would exceed the Aggregate Available Liquidity Commitment as so reduced unless the provisions of subsection 4.03(c)(ii) are complied with as if such affected Liquidity Bank were an Exiting Bank. Until such time as one of the actions required by the preceding provisions of this Section hereof is completed, the affected Liquidity Bank’s Percentage of the Aggregate Liquidity Commitment shall not be terminated (except as otherwise provided in Section 4.01(a) and Section 5.04).