Capital Markets Disruption. During a Capital Markets Disruption, [***], then GM has the right to provide such GM Special Program through a Third Party Program. In such a case, GM would not [***], but GMAC’s exclusivity payment would be reduced on a pro-rata basis for the duration of the Third Party Program using the calculation in Section 3.3(b) below. GM shall terminate any such Third Party Program within [***] after the earlier of:
Capital Markets Disruption. The GMAC President Auto Finance and GM Treasurer will determine whether a Capital Markets Disruption has occurred, and, if so, they subsequently will determine when it has ceased. If they determine that a Capital Markets Disruption has occurred under this Agreement, it will be deemed to have occurred under any and all agreements between GM and GMAC that provide for a Capital Markets Disruption. During a Capital Markets Disruption, GM’s right to terminate or revoke Retail Financing exclusivity will be suspended. During the Capital Markets Disruption, GMAC will:
Capital Markets Disruption. Ally and Chrysler will reasonably and mutually determine whether a Capital Markets Disruption has occurred, and if so, when it ends.
Capital Markets Disruption. Capital markets disruption (“ Capital Markets Disruption ”) is defined as a period of time in which global credit markets are such that credit is either “not available” or “not available on any commercially reasonable terms” to borrowers with credit rating and business prospects similar to GMAC for a period of three months or longer. Chrysler and GMAC will mutually and reasonably determine whether a Capital Markets Disruption has occurred, and if so when it ends. During a Capital Markets Disruption, [***] Chrysler will be relieved from the exclusivity provided under section 6 above and may work with other third party financial providers to provide such financing products on a temporary basis (on terms consistent with terms offered to GMAC) (“Alternative Volume”) until GMAC has provided notice that the Capital Markets Disruption has ended. Upon such notice, the Volume Thresholds will be immediately reinstated; provided that any Alternative Volume shall not be counted against such Volume Threshold for six months from the date of GMAC’s notice.
Capital Markets Disruption. If GMAC fails to meet the *** Target, or *** Targets, during any period of time when global credit markets are such that credit is not available on commercially reasonable terms to borrowers with credit standing similar to GMAC for a period of three months or longer (“Capital Markets Disruption”), all *** Fees or *** Fees and GM’s right to terminate exclusivity (under Section 3.5 of this Agreement) will be suspended.
Capital Markets Disruption. The GMAC President Auto Finance and GM Treasurer will determine whether a Capital Markets Disruption has occurred, and, if so, they subsequently will determine when it has ceased. If they determine that a Capital Markets Disruption has occurred under this Agreement, it will be deemed to have occurred under any and all agreements between GM and GMAC that provide for a Capital Markets Disruption. During a Capital Markets Disruption, GM’s right to terminate or revoke Retail Financing exclusivity will be suspended. During the Capital Markets Disruption, GMAC will: CONFIDENTIAL TREATMENT [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission
