Common use of Credit Enhancement Facilities, Demand Purchase Agreements and Swap Agreements Clause in Contracts

Credit Enhancement Facilities, Demand Purchase Agreements and Swap Agreements. The Corporation may from time to time enter into or obtain the benefit of any Credit Enhancement Facility, any Demand Purchase Agreement or any Swap Agreement with respect to any Class A Notes or Class B Notes of any series; provided that (i) a Supplemental Indenture is entered into in accordance with the provisions of Section 8.01(i) hereof, and (ii) any such Credit Enhancement Facility, Demand Purchase Agreement or Swap Agreement satisfies any conditions specified in a prior Supplemental Indenture. No Supplemental Indenture shall authorize the execution of a Swap Agreement unless, as of the date the Corporation enters into such Swap Agreement, either the Swap Counterparty or the Person executing a Swap Counterparty Guarantee relating thereto has outstanding obligations rated by each Rating Agency not lower than in its third highest Specific Rating Category (or each Rating Agency has a comparable other rating with respect to such Swap Counterparty Guarantee, such as a comparable rating of claims paying ability or deposits) and no such Swap Agreement shall be designated as a Senior Swap Agreement unless, as of the date the Corporation enters into such Swap Agreement, the Senior Asset Requirement will be met and, if Unenhanced Notes are Outstanding, the Trustee shall have received written confirmation from each Rating Agency that the execution and delivery of the Swap Agreement will not cause the reduction or withdrawal of any rating or ratings then applicable to any Unenhanced Notes. Notwithstanding anything in this Indenture to the contrary, (1) any Supplemental Indenture authorizing the execution by the Corporation of a Senior Swap Agreement, Subordinate Swap Agreement, Senior Credit Enhancement Facility, Subordinate Credit Enhancement Facility, Senior Demand Purchase Agreement or Subordinate Demand Purchase Agreement may include provisions with respect to the application and use of all amounts to be paid thereunder, (2) no amounts paid under any such Credit Enhancement Facility or Demand Purchase Agreement shall be part of the Trust Estate except to the extent, if any, specifically provided in such Supplemental Indenture and no Beneficiaries shall have any rights with respect to any such amounts so paid except as may be specifically provided in such Supplemental Indenture, (3) Notes of one or more series or any portions thereof may be secured by a pledge of any or all amounts payable pursuant to such Credit Enhancement Facility or Demand Purchase Agreement, in the manner and to the extent provided in such Supplemental Indenture, and such Notes may be either Class A Notes or Class B Notes for purposes hereof, and (4) the Corporation's obligations under any such Credit Enhancement Facility, Demand Purchase Agreement or Swap Agreement shall be limited obligations, payable solely from the revenues and assets of the Corporation pledged therefor under this Indenture.