Credit Support Default. (1) Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed by it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed;
(2) the expiration or termination of such Credit Support Document or the failing or ceasing of such Credit Support Document to be in full force and effect for the purpose of this Agreement (in either case other than in accordance with its terms) prior to the satisfaction of all obligations of such party under each Transaction to which such Credit Support Document relates without the written consent of the other party; or
(3) the party or such Credit Support Provider disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, such Credit Support Document;
Credit Support Default. (1) Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed by it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed;
(2) the expiration or termination of such Credit Support Document or the failing or ceasing of such Credit Support Document, or any security interest granted by such party or such Credit Support Provider to the other party pursuant to any such Credit Support Document, to be in full force and effect for the purpose of this Agreement (in each case other than in accordance with its terms) prior to the satisfaction of all obligations of such party under each Transaction to which such Credit Support Document relates without the written consent of the other party; or
(3) the party or such Credit Support Provider disaffirms, disclaims, repudiates or rejects, in whole or in part, or challenges the validity of, such Credit Support Document (or such action is taken by any person or entity appointed or empowered to operate it or act on its behalf);
Credit Support Default. Failure by the party or any Credit Support Provider of such party to comply with or perform any agreement or obligation to be complied with or performed by it in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elapsed;
Credit Support Default. Subparagraph (3) of Section 5(a)(iii) is hereby amended by adding in the second line thereof after the word "Document" and before the semicolon the words "(or such action is taken by any person or entity appointed or empowered to operate it or act on its behalf)."
Credit Support Default. Section 5(a)(iii) will apply to Party A and will not apply to Party B.
Credit Support Default. Section 5(a)(iii)(1) of this Agreement is hereby deleted and replaced with the following:
(1) The occurrence of an Event of Default under any Credit Support Document if such Event of Default is continuing after any applicable grace period has elapsed;"
Credit Support Default. Section 5(a)(iii) will apply to Party A, Section 5(a)(iii)(1) will apply to Party B only if such failure is the failure by Party B to transfer to Party A Equivalent Credit Support specified by Party A in a demand duly made under Paragraph 2(b) of the ISDA Credit Support Annex dated as of the date hereof and Section 5(a)(iii)(2) and (3) will not apply to Party B.
Credit Support Default. The "Credit Support Default" provision of Section 5(a)(iii) is hereby amended by adding, at the end thereof, the following: "provided that, not withstanding anything to the contrary contained in this Agreement or this Section 5, an Event of Default relative to the Credit Support Provider will not constitute an Event of Default with respect to Party B."
Credit Support Default. Section 5(a)(iii) of this Agreement is hereby amended by the addition of “or if there is no applicable grace period, three Local Business Day after notice of such failure is given to the party or Credit Support Provider (as the case may be)” after “elapsed” in the fourth line thereof.
Credit Support Default. (1) Failure by the party or any applicable Specified Entity to comply with or perform any agreement or obligation to be complied with or performed by the party or such Specified Entity in accordance with any Credit Support Document if such failure is continuing after any applicable grace period has elasped;
(2) the expiration or termination of such Credit Support Document, or the ceasing of such Credit Support Document to be in full force and effect, prior to the final Scheduled Payment Date of each Swap Transaction to which such Credit Support Document relates without the written consent of the other party; or
(3) the party or such Specified Entity repudiates, or challenges the validity of, such Credit Support Document;
