Common use of Additional Termination Provisions Clause in Contracts

Additional Termination Provisions. (i) If (1) (x) S&P Option 4 is in effect and the long-term, unsecured, unsubordinated and unguaranteed debt obligations of Party A (or its successor) or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least “A+” by Standard & Poor’s Rating Services, a division of The XxXxxx-Xxxx Companies, Inc. (“S&P”), or (y) S&P Option 1 or S&P Option 3 is in effect and the long-term, unsecured, unsubordinated and unguaranteed debt obligations of Party A (or its successor) or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least “A” by S&P (in each case, as applicable, the “Minimum S&P Rating”), (2) the rating of the short-term, unsecured, unsubordinated and unguaranteed debt obligations or, respectively, the long-term, unsecured, unsubordinated and unguaranteed debt obligations of Party A or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least as high as, respectively, “P-1” or “A-2” (the “Minimum Xxxxx’x Rating”) by Xxxxx’x Investors Service Inc. (“Moody’s”), (3) the short-term issuer default rating by Fitch, Inc. (“Fitch”) and, respectively, the long-term issuer default rating by Fitch of Party A or any credit support provider or guarantor from time to time in respect of Party A cease to be at least as high as, respectively, “F1” and “A” (the “Minimum Fitch Rating”), or (4) the rating of the short-term unsecured, unsubordinated and unguaranteed debt obligations and the long-term unsecured, unsubordinated and unguaranteed debt obligations of Party A or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least as high as, respectively, “R-1 (middle)” and “A (high)” (the “Minimum DBRS Rating” and, together with the Minimum S&P Rating, Minimum Xxxxx’x Rating and Minimum Fitch Rating, the “Minimum Ratings” and each a “Minimum Rating”) by DBRS Limited (“DBRS” and, together with S&P, Xxxxx’x and Fitch and each of their respective successors, the “Rating Agencies” and each a “Rating Agency”), (each such cessation being an “Initial Rating Event”), then Party A will, at its own cost, either:

Additional Termination Provisions. (i) If (1) the short-term counterparty risk assessment or the long-term counterparty risk assessment, in each case, of Party A or any Credit Support Provider of Party A, as applicable, ceases to be at least as high as, respectively, “P-1(cr)” or “A2(cr)”, by Xxxxx’x Investors Service Inc. (x“Moody’s”) S&P Option 4 (the “Minimum Xxxxx’x Rating”), (2) (i) the short-term issuer default rating (the “Fitch ST Rating”) or (ii) the derivative counterparty rating, if one is assigned, and if not, the long-term issuer default rating (as applicable, the “Xxxxx XX Rating”), in effect each case, of Party A or any Credit Support Provider of Party A, as applicable, ceases to be at least as high as, respectively, “F1” or “A-”, by Fitch Ratings, Inc. (“Fitch”) (the “Minimum Fitch Rating”), or (3) the short- term, unsecured, unsubordinated and unguaranteed debt obligations or the long-term, unsecured, unsubordinated and unguaranteed debt obligations obligations, in each case, of Party A (or its successor) or any credit support provider or guarantor Credit Support Provider from time to time in respect of Party A cease to be rated at least “A+” by Standard & Poor’s Rating Services, a division of The XxXxxx-Xxxx Companies, Inc. (“S&P”), or (y) S&P Option 1 or S&P Option 3 is in effect and the long-term, unsecured, unsubordinated and unguaranteed debt obligations of Party A (or its successor) or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least “A” by S&P (in each case, as applicable, the “Minimum S&P Rating”), (2) the rating of the short-term, unsecured, unsubordinated and unguaranteed debt obligations or, respectively, the long-term, unsecured, unsubordinated and unguaranteed debt obligations of Party A or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least as high as, respectively, “P-1R-1(low)” or “A-2” (the “Minimum Xxxxx’x RatingA”) by Xxxxx’x Investors Service Inc. (“Moody’s”), (3) the short-term issuer default rating by Fitch, Inc. (“Fitch”) and, respectively, the long-term issuer default rating by Fitch of Party A or any credit support provider or guarantor from time to time in respect of Party A cease to be at least as high as, respectively, “F1” and “A” (the “Minimum Fitch Rating”), or (4) the rating of the short-term unsecured, unsubordinated and unguaranteed debt obligations and the long-term unsecured, unsubordinated and unguaranteed debt obligations of Party A or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least as high as, respectively, “R-1 (middle)” and “A (high)” (the “Minimum DBRS Rating” and, together with the Minimum S&P Rating, Minimum Xxxxx’x Rating and Minimum Fitch Rating, the “Minimum Ratings” and each a “Minimum Rating”) by DBRS Limited (“DBRS” and, together with S&P, Xxxxx’x Moody’s and Fitch and each of their respective successors, the “Rating Agencies” and each a “Rating Agency”)) (the “Minimum DBRS Rating”, (and, together with the Minimum Xxxxx’x Rating and Minimum Fitch Rating, the “Minimum Ratings” and each a “Minimum Rating”, and each such cessation being an “Initial Rating Event”, provided that, for greater certainty, in respect of each of (1), (2) and (3), if Party A or any Credit Support Provider of Party A, as applicable, has one of such ratings from Moody’s, Fitch or DBRS, respectively, it will have the applicable “\Minimum Ratings” and an Initial Rating Event will not occur with respect to Party A), then Party A will, at its own cost, either:

Additional Termination Provisions. (i) If (1) (x) S&P Option 4 is in effect and the long-term, unsecured, unsubordinated and unguaranteed debt obligations of Party A (or its successor) or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least “A+” by Standard & Poor’s Rating Services, a division of The XxXxxx-Xxxx Companies, Inc. (“S&P”), or (y) S&P Option 1 or S&P Option 3 is in effect and the long-term, unsecured, unsubordinated and unguaranteed debt obligations of Party A (or its successor) or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least “A” by S&P (in each case, as applicable, the “Minimum S&P Rating”), (2) the rating of the short-term, unsecured, unsubordinated and unguaranteed debt obligations or, respectively, the long-term, unsecured, unsubordinated and unguaranteed debt obligations of Party A or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least as high as, respectively, “P-1” or “A-2” (the “Minimum Xxxxx’x Rating”) by Xxxxx’x Investors Service Inc. (“Moody’s”), (32) the short-term issuer default rating by Fitch, Inc. (“Fitch”) and, respectively, the long-term issuer default rating by Fitch of Party A or any credit support provider or guarantor from time to time in respect of Party A cease to be at least as high as, respectively, “F1” and “A” (the “Minimum Fitch Rating”), or (43) the rating of the short-term unsecured, unsubordinated and unguaranteed debt obligations and the long-term unsecured, unsubordinated and unguaranteed debt obligations of Party A or any credit support provider or guarantor from time to time in respect of Party A cease to be rated at least as high as, respectively, “R-1 (middle)” and “A (high)” (the “Minimum DBRS Rating” and, together with the Minimum S&P Rating, Minimum Xxxxx’x Rating and Minimum Fitch Rating, the “Minimum Ratings” and each a “Minimum Rating”) by DBRS Limited (“DBRS” and, together with S&P, Xxxxx’x Moody’s and Fitch and each of their respective successors, the “Rating Agencies” and each a “Rating Agency”), (each such cessation being an “Initial Rating Event”), then Party A will, at its own cost, either: