Common use of APPOINTMENT OF A BACK-UP SERVICER Clause in Contracts

APPOINTMENT OF A BACK-UP SERVICER. 18.1 If the Servicer ceases to be assigned (a) a counterparty risk assessment of at least Baa3(cr) by Moody's or (b) a long term issuer default rating of at least BBB- by Fitch (or (i) such other lower risk assessment/rating which is consistent with the then current risk assessment/rating methodology of the relevant Rating Agency or (ii) such other lower risk assessment/rating that the Cash Manager certifies in writing to the Note Trustee and the Security Trustee would not have an adverse effect on the risk assessment/ratings of the Class A Notes or (iii) such other lower risk assessment/rating as the Note Trustee may (but shall not be obliged to) agree, the Servicer (with the assistance of the Back-Up Servicer Facilitator) shall use best efforts to enter into a back-up servicing agreement with a back-up servicer with suitable experience and credentials in such form as the Issuer and Security Trustee shall reasonably require on terms substantially the same as those set out in this Agreement (the Back-Up Servicer).

APPOINTMENT OF A BACK-UP SERVICER. 18.1 If the Servicer ceases to be assigned (a) a counterparty risk assessment of at least Baa3(cr) by Moody's Xxxxx'x or (b) a long term issuer default rating of at least BBB- by Fitch (or (i) such other lower risk assessment/rating which is consistent with the then current risk assessment/rating methodology of the relevant Rating Agency or (ii) such other lower risk assessment/rating that the Cash Manager certifies in writing to the Note Trustee and the Security Trustee would not have an adverse effect on the risk assessment/ratings of the Class A Notes or (iii) such other lower risk assessment/rating as the Note Trustee may (but shall not be obliged to) agree, the Servicer (with the assistance of the Back-Up Servicer Facilitator) shall use best efforts to enter into a back-up servicing agreement with a back-up servicer with suitable experience and credentials in such form as the Issuer and Security Trustee shall reasonably require on terms substantially the same as those set out in this Agreement (the Back-Up Servicer).

APPOINTMENT OF A BACK-UP SERVICER. 18.1 19.1 If the Servicer ceases to be assigned (a) a counterparty risk assessment of at least Baa3(cr) by Moody's or (b) a long term issuer default rating of at least BBB- by Fitch (or (i) such other lower risk assessment/rating which is consistent with the then current risk assessment/rating methodology of the relevant Rating Agency or (ii) such other lower risk assessment/rating that the Cash Manager certifies in writing to the Note Trustee and the Security Trustee would not have an adverse effect on the risk assessment/ratings of the Class A Notes or (iii) such other lower risk assessment/rating as the Note Trustee may (but shall not be obliged to) agree), the Servicer (with the assistance of the Back-Up Servicer Facilitator) shall use best efforts to enter into a back-up servicing agreement with a back-up servicer with suitable experience and credentials in such form as the Issuer and Security Trustee shall reasonably require on terms substantially the same as those set out in this Agreement (the Back-Up Servicer).

APPOINTMENT OF A BACK-UP SERVICER. 18.1 19.1 If the Servicer ceases to be assigned (a) a counterparty risk assessment of at least Baa3(cr) by Moody's or (b) a long term issuer default rating of at least BBB- by Fitch (or (i) such other lower risk assessment/rating which is consistent with the then current risk assessment/rating methodology of the relevant Rating Agency or (ii) such other lower risk assessment/rating that the Cash Manager certifies in writing to the Note Trustee and the Security Trustee would not have an adverse effect on the risk assessment/ratings of the Class A Notes or (iii) such other lower risk assessment/rating as the Note Trustee may (but shall not be obliged to) agree), the Servicer (with the assistance of the Back-Up Servicer Facilitator) shall use best efforts to enter into a back-up servicing agreement with w ith a back-up servicer with suitable experience and credentials in such form as the Issuer and Security Sec urity Trustee shall reasonably require on terms substantially the same as those set out in this Agreement (the Back-Up Servicer).