Change in Processing Bank. Except as provided in a Blocked Account Agreement, it shall not permit a change in the Lockbox Account or any Processing Bank designated in a Blocked Account Agreement without the prior written consent of the Insurer, which consent shall not be unreasonably withheld; provided, however, that without limiting the foregoing, it shall be deemed reasonable for the Insurer to withhold its consent if the long term senior unsecured debt of any new Processing Bank is not rated at least "A" by S&P and "A2" by Xxxxx'x.
Appears in 3 contracts
Samples: Insurance and Indemnity Agreement (Triad Automobile Receivables Trust 2006-B), Insurance and Indemnity Agreement (Triad Financial Special Purpose LLC), Insurance and Indemnity Agreement (Triad Automobile Receivables Trust 2005-A)
Change in Processing Bank. Except as provided in a Blocked Account Agreement, it shall not permit a change in the Lockbox Account or any Processing Bank designated in a Blocked Account Agreement without the prior written consent of the Insurer, which consent shall not be unreasonably withheld; provided, however, that without limiting the foregoing, it shall be deemed reasonable for the Insurer to withhold its consent if the long term senior unsecured debt of any new Processing Bank is not rated at least "“A" ” by S&P and "“A2" ” by Xxxxx'xMxxxx’x.
Appears in 3 contracts
Samples: Insurance and Indemnity Agreement (Triad Financial Special Purpose LLC), Insurance and Indemnity Agreement (Triad Financial Special Purpose LLC), Insurance and Indemnity Agreement (Triad Financial Special Purpose LLC)
Change in Processing Bank. Except as provided in a Blocked Account Agreement, it shall not permit a change in the Lockbox Account or any Processing Bank designated in a Blocked Account Agreement without the prior written consent of the Insurer, which consent shall not be unreasonably withheld; provided, however, that without limiting the foregoing, it shall be deemed reasonable for the Insurer to withhold its consent if the long term senior unsecured debt of any new Processing Bank is not rated at least "A" by S&P and "A2" by Xxxxx'xMoody's.
Appears in 1 contract
Samples: Insurance and Indemnity Agreement (Triad Automobile Receivables Trust 2006-A)
