Common use of Additional Funding Obligations Clause in Contracts

Additional Funding Obligations. If at any time prior to the Final Payment Date either (i) the short-term unsecured debt rating of TMCC falls below P-1 by Moody's or A-1+ by S&P (or in either case, such lower ratings as may be permitted by Moody's and S&P), or (ii) the Holder fails to fund the amount specified in any Draw Request prepared and submitted to the Holder in accordance with Sections 2.1 and 2.3 of this Agreement, then the Indenture Trustee on behalf of the Issuer will have the right to request that the entire Undrawn Amount of the Revolving Liquidity Note be funded. To the extent the entire Undrawn Amount is fully funded pursuant to this Section 2.2, the Undrawn Amount shall be reduced to zero and shall no longer be subject to draws.

Additional Funding Obligations. If at any time prior to the Final Scheduled Payment Date either (i) the short-term unsecured debt rating of TMCC falls below P-1 [__] by Moody's [____] or A-1+ [__] by S&P [___] (or in either case, such lower ratings as may be permitted by Moody's [______] and S&P[___]), or (ii) the Holder fails to fund the amount specified in any Draw Request prepared and submitted to the Holder in accordance with Sections 2.1 and 2.3 of this Agreement, then the Indenture Trustee on behalf of the Issuer will have the right to request that the entire Undrawn Amount of the Revolving Liquidity Note be funded. To the extent the entire Undrawn Amount is fully funded pursuant to this Section 2.2, the Undrawn Amount shall be reduced to zero and shall no longer be subject to draws.

Additional Funding Obligations. If at any time prior to the Final Payment Date either (i) the short-term unsecured debt rating of TMCC falls below P-1 [__] by Moody's [____] or A-1+ [__] by S&P [___] (or in either case, such lower ratings as may be permitted by Moody's [______] and S&P[___]), or (ii) the Holder fails to fund the amount specified in any Draw Request prepared and submitted to the Holder in accordance with Sections 2.1 and 2.3 of this Agreement, then the Indenture Trustee on behalf of the Issuer will have the right to request that the entire Undrawn Amount of the Revolving Liquidity Note be funded. To the extent the entire Undrawn Amount is fully funded pursuant to this Section 2.2, the Undrawn Amount shall be reduced to zero and shall no longer be subject to draws.

Additional Funding Obligations. If at any time prior to the Final Payment Date either (i) the short-term unsecured debt rating of TMCC falls below P-1 by Moody's ’s or A-1+ by S&P (or in either case, such lower ratings as may be permitted by Moody's ’s and S&P), or (ii) the Holder fails to fund the amount specified in any Draw Request prepared and submitted to the Holder in accordance with Sections 2.1 and 2.3 of this Agreement, then the Indenture Trustee on behalf of the Issuer will have the right to request that the entire Undrawn Amount of the Revolving Liquidity Note be funded. To the extent the entire Undrawn Amount is fully funded pursuant to this Section 2.2, the Undrawn Amount shall be reduced to zero and shall no longer be subject to draws.