CBC ACCOUNT. 15.1 If, at any time, the unsecured, unsubordinated and unguaranteed debt obligations of the CBC Account Bank cease to be rated at least the Requisite Credit Rating or any such rating is withdrawn, then within the Relevant Remedy Period, the CBC undertakes (a) to close the CBC Account and open a new account under the terms of a new CBC account agreement substantially on the same terms as the CBC Account Agreement with a financial institution having at least the Requisite Credit Rating; or (b) to procure that the CBC Account Bank will obtain a guarantee of its obligations under the CBC Account Agreement on terms acceptable to the Security Trustee, acting reasonably, from a financial institution having at least the Requisite Credit Rating.
CBC ACCOUNT. 15.1 If, at any time, the credit rating of the CBC Account Bank falls below the Requisite Credit Rating or any such credit rating is withdrawn, then within the Relevant Remedy Period, the CBC or the Administrator on its behalf undertakes (a) to close the CBC Account and open a new account under the terms of a new cbc account agreement substantially on the same terms as the CBC Account Agreement with a financial institution having at least the Requisite Credit Rating; or (b) to procure that the CBC Account Bank will obtain a guarantee of its obligations under the CBC Account Agreement in accordance with the guarantee criteria of the Rating Agency and on terms acceptable to the Security Trustee, acting reasonably, from a financial institution having at least the Requisite Credit Rating.
CBC ACCOUNT. 15.1 If, at any time, the Long-Term Issuer Credit Rating of the CBC Account Bank ceases to be rated at least the Requisite Credit Rating or any such rating is withdrawn, then within the Relevant Remedy Period, the CBC or the Administrator on its behalf undertakes (a) to close the CBC Account and open a new account under the terms of a new CBC Account Agreement substantially on the same terms as the CBC Account Agreement with a financial institution having at least the Requisite Credit Rating; or (b) to procure that the CBC Account Bank will obtain a guarantee of its obligations under the CBC Account Agreement in accordance with the guarantee criteria of S&P and on terms acceptable to the Security Trustee, acting reasonably, from a financial institution having at least the Requisite Credit Rating.
