Common use of CREDIT SUPPORT PROVIDER TRANSACTIONS Clause in Contracts

CREDIT SUPPORT PROVIDER TRANSACTIONS. (a) The Credit Support Provider may give a Substitution Notice to Party B specifying a Transaction which shall be substituted under this Section 21 (a "Replaced Transaction"), but only on the condition that a Credit Event has occurred in respect of Party A. (b) If the Credit Support Provider gives a Substitution Notice under paragraph 21(a), then either: (i) a Substitute Transaction shall become effective and the Effective Date shall be the date specified in the Substitution Notice; or (ii) both: (A) Party B, the Credit Support Provider and the Trust Manager must enter into an Equivalent Transaction with a suitably rated counterparty procured by the Credit Support Provider and accepted by Party B, the Trust Manager and the Note Trustee (the "New Currency Swap Provider") and the Effective Date shall be the date specified in the Substitution Notice as the Effective Date for the Equivalent-Other Transaction; and (B) an Equivalent-Other Transaction shall become effective and the Effective Date shall be the date specified in the Substitution Notice. The New Currency Swap Provider must sign, and Party B, the Credit Support Provider and the Trust Manager must countersign, an accession as provided for in the Confirmation for the Equivalent-Other Transaction. For the avoidance of doubt, a Substitution Notice may specify that a Substitution Transaction will become effective in accordance with paragraph (b)(i) or that an Equivalent Transaction and an Equivalent Other Transaction will become effective in accordance with paragraphs (b)(ii)(A) and (B), or that either a Transaction under paragraph (b)(i) or Transactions under paragraphs (b)(ii)(A) and (B) shall become effective as alternatives. If the Substitution Notice specifies that, as alternatives, the Transaction or Transactions under paragraphs (b)(i) or (b)(ii)(A) and (B) shall become effective, and if a suitably rated counterparty is not procured by the Credit Support Provider under paragraph (b)(ii)(A), the Substitute Transaction must become effective in accordance with paragraph (b)(i). (c) On the date on which the Transactions become effective in accordance with a Substitution Notice under either paragraph (b)(i) or (b)(ii): (i) the Replaced Transaction shall terminate; and (ii) the Other Transaction shall terminate. (d) No Settlement Amount or other amount under section 6 or section 11 shall be payable by, or to, Party B (as the case may be) upon the termination of the Transactions under paragraphs (c)(i) and (ii), because the Transactions specified in paragraphs (b)(i), or (b)(ii)(A) and (B), as the case may be, shall have the effect of preserving for Party B the economic equivalent of the payments under the Transactions which are being terminated.

CREDIT SUPPORT PROVIDER TRANSACTIONS. (a) The Credit Support Provider may give a Substitution Notice to Party B specifying a Transaction which shall be substituted under this Section 21 (a "Replaced Transaction"), but only on the condition that a Credit Event has occurred in respect of Party A. (b) If the Credit Support Provider gives a Substitution Notice under paragraph 21(a), then either: (i) a Substitute Transaction shall become effective and the Effective Date shall be the date specified in the Substitution Notice; or (ii) both: (A) Party B, the Credit Support Provider and the Trust Manager must enter into an Equivalent Transaction with a suitably rated counterparty procured by the Credit Support Provider and accepted by Party B, the Trust Manager and the Note Trustee (the "New Currency Swap Provider") and the Effective Date shall be the date specified in the Substitution Notice as the Effective Date for the Equivalent-Other Transaction; and (B) an Equivalent-Other Transaction shall become effective and the Effective Date shall be the date specified in the Substitution Notice. The New Currency Swap Provider must sign, and Party B, the Credit Support Provider and the Trust Manager must countersign, an accession as provided for in the Confirmation for the Equivalent-Other Transaction. For the avoidance of doubt, a Substitution Notice may specify that a Substitution Transaction will become effective in accordance with paragraph (b)(i) or that an Equivalent Transaction and an Equivalent Other Transaction will become effective in accordance with paragraphs (b)(ii)(A) and (B), or that either a Transaction under paragraph (b)(i) or Transactions under paragraphs (b)(ii)(A) and (B) shall become effective as alternatives. If the Substitution Notice specifies that, as alternatives, the Transaction or Transactions under paragraphs (b)(i) or (b)(ii)(A) and (B) shall become effective, and if a suitably rated counterparty is not procured by the Credit Support Provider under paragraph (b)(ii)(A), the Substitute Transaction must become effective in accordance with paragraph (b)(i). (c) On the date on which the Transactions become effective in accordance with a Substitution Notice under either paragraph (b)(i) or (b)(ii): (i) the Replaced Transaction shall terminate; and and (ii) the Other Transaction shall terminate. (d) No Settlement Amount or other amount under section 6 or section 11 shall be payable by, or to, Party B (as the case may be) upon the termination of the Transactions under paragraphs (c)(i) and (ii), because the Transactions specified in paragraphs (b)(i), or (b)(ii)(A) and (B), as the case may be, shall have the effect of preserving for Party B the economic equivalent of the payments under the Transactions which are being terminated.

CREDIT SUPPORT PROVIDER TRANSACTIONS. (a) The Credit Support Provider may give a Substitution Notice to Party B specifying a Transaction which shall be substituted under this Section 21 (a "Replaced Transaction"), but only on the condition that a Credit Event has occurred in respect of Party A. (b) If the Credit Support Provider gives a Substitution Notice under paragraph 21(a), then either: (i) a Substitute Transaction shall become effective and the Effective Date shall be the date specified in the Substitution Notice; or (ii) both: (A) Party B, the Credit Support Provider and the Trust Manager must enter into an Equivalent Transaction with a suitably rated counterparty procured by the Credit Support Provider and accepted by Party B, the Trust Manager and the Note Trustee (the "New Currency Swap Provider") and the Effective Date shall be the date specified in the Substitution Notice as the Effective Date for the Equivalent-Other Transaction; and (B) an Equivalent-Other Transaction shall become effective and the Effective Date shall be the date specified in the Substitution Notice. The New Currency Swap Provider must sign, and Party B, the Credit Support Provider and the Trust Manager must countersign, an accession as provided for in the Confirmation for the Equivalent-Other Transaction. For the avoidance of doubt, a if the Substitution Notice may specify that a Substitution Transaction will become effective in accordance with paragraph (b)(i) or that an Equivalent Transaction and an Equivalent Other Transaction will become effective in accordance with paragraphs (b)(ii)(A) and (B), or specifies that either a the Transaction under paragraph (b)(i) or the Transactions under paragraphs (b)(ii)(A) and (B) shall become effective as alternatives. If the Substitution Notice specifies that, as alternatives, the Transaction or Transactions under paragraphs (b)(i) or (b)(ii)(A) and (B) shall become effective, and if a suitably rated counterparty is not procured by the Credit Support Provider under paragraph (b)(ii)(A), the Substitute Transaction must become effective in accordance with paragraph (b)(i). (c) On the date on which the Transactions become effective in accordance with a Substitution Notice under either paragraph (b)(i) or (b)(ii): (i) the Replaced Transaction shall terminate; and (ii) the Other Transaction shall terminate. (d) No Settlement Amount or other amount under section 6 or section 11 shall be payable by, or to, Party B (as the case may be) upon the termination of the Transactions under paragraphs (c)(i) and (ii), because the Transactions specified in paragraphs (b)(i), or (b)(ii)(A) and (B), as the case may be, shall have the effect of preserving for Party B the economic equivalent of the payments under the Transactions which are being terminated.

CREDIT SUPPORT PROVIDER TRANSACTIONS. (a) The Credit Support Provider may give a Substitution Notice to Party B specifying a Transaction which shall be substituted under this Section 21 21 (a "" Replaced Transaction"), but only on the condition that a Credit Event has occurred in respect of Party A. (b) If the Credit Support Provider gives a Substitution Notice under paragraph 21(a), then either: (i) a Substitute Transaction shall become effective and the Effective Date shall be the date specified in the Substitution Notice; or (ii) both: (A) Party B, the Credit Support Provider and the Trust Manager must enter into an Equivalent Transaction with a suitably rated counterparty procured by the Credit Support Provider and accepted by Party B, the Trust Manager and the Note Trustee (the "New Currency Swap Provider") and the Effective Date shall be the date specified in the Substitution Notice as the Effective Date for the Equivalent-Other Transaction; and (B) an Equivalent-Other Transaction shall become effective and the Effective Date shall be the date specified in the Substitution Notice. The New Currency Swap Provider must sign, and Party B, the Credit Support Provider and the Trust Manager must countersign, an accession as provided for in the Confirmation for the Equivalent-Other Transaction. For the avoidance of doubt, a if the Substitution Notice may specify that a Substitution Transaction will become effective in accordance with paragraph (b)(i) or that an Equivalent Transaction and an Equivalent Other Transaction will become effective in accordance with paragraphs (b)(ii)(A) and (B), or specifies that either a the Transaction under paragraph (b)(i) or the Transactions under paragraphs (b)(ii)(A) and (B) shall become effective as alternatives. If the Substitution Notice specifies that, as alternatives, the Transaction or Transactions under paragraphs (b)(i) or (b)(ii)(A) and (B) shall become effective, and if a suitably rated counterparty is not procured by the Credit Support Provider under paragraph (b)(ii)(A), the Substitute Transaction must become effective in accordance with paragraph (b)(i). (c) On the date on which the Transactions become effective in accordance with a Substitution Notice under either paragraph (b)(i) or (b)(ii): (i) the Replaced Transaction shall terminate; and (ii) the Other Transaction shall terminate. (d) No Settlement Amount or other amount under section 6 or section 11 shall be payable by, or to, Party B (as the case may be) upon the termination of the Transactions under paragraphs (c)(i) and (ii), because the Transactions specified in paragraphs (b)(i), or (b)(ii)(A) and (B), as the case may be, shall have the effect of preserving for Party B the economic equivalent of the payments under the Transactions which are being terminated.