Common use of Annual Rating Clause in Contracts

Annual Rating. The Borrower shall, [commencing in 20[__]], no later than the last Business Day of June of each year during the term of the TIFIA Bond, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on the Senior Obligations and on the TIFIA Bond by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection with each such rating, in each case prepared no earlier than June 1 of such year.

Annual Rating. The Borrower shall, [commencing in 20[__]]2018, no later than the last Business Day of June of each year during the term of the TIFIA Bond, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on the Senior Obligations and on the TIFIA Bond by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection with each such rating, in each case prepared no earlier than June 1 of such year.

Annual Rating. The Borrower shall, [commencing in 20[__]]2014, no later than the last Business Day of June of each year during the term of the TIFIA BondLoan, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on the Senior Obligations and on the TIFIA Bond Loan by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection with each such rating, in each case prepared no earlier than June 1 of such year.

Annual Rating. The Borrower shall, [commencing in 20[__]___], no later than the last Business Day of June of each year during the term of the TIFIA BondLoan, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on the Senior Obligations and on the TIFIA Bond Loan by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection with each such rating, in each case prepared no earlier than June 1 of such year.

Annual Rating. The Borrower shall, [commencing in 20[__]]2015, no later than the last Business Day of June of each year during the term of the TIFIA BondLoan, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on the Senior Obligations and on the TIFIA Bond Loan by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection with each such rating, in each case prepared no earlier than June 1 of such year.

Annual Rating. The Borrower shall, [commencing in 20[__]]2024, no later than the last Business Day of June of each year during the term of the TIFIA Bond, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on each of the Senior Obligations and on obligations issued pursuant to the Indenture (including the TIFIA Bond Bond) by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection with each such rating, in each case prepared no earlier than June 1 of such year.

Annual Rating. The Borrower shall, [commencing in 20[__]]2018, no later than the last Business Day of June of each year during the term of the TIFIA Bond, at no cost to the TIFIA Lender, provide to the TIFIA Lender a (i) public rating on the Senior Obligations and ratings on the TIFIA Bond by a two Nationally Recognized Rating AgencyAgencies, together with the rating report or letter delivered by such Nationally Recognized Rating Agency Agencies in connection with each such rating, and (ii) the existing ratings on any outstanding Senior Bonds, in each case prepared no earlier than June 1 of such year.

Annual Rating. The Borrower shall, [commencing in 20[__]]2012, no later than the last Business Day of June December of each year during over the term of the TIFIA BondLoan, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on the any Senior Obligations and on the TIFIA Bond Loan by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection with each such rating, in each case prepared no earlier than June 1 of such year.

Annual Rating. The Borrower shall, [commencing in 20[__][ ], no later than the last Business Day of June of each year during the term of the TIFIA BondLoan, at no cost to the TIFIA Lender, provide to the TIFIA Lender a public rating on the Senior Obligations and on the TIFIA Bond Loan by a Nationally Recognized Rating Agency, together with the rating report or letter delivered by such Nationally Recognized Rating Agency in connection with each such rating, in each case prepared no earlier than June 1 of such year.