Common use of Downgrading Clause in Contracts

Downgrading. The Sponsor will not engage in any activity which would result in a downgrading or withdrawal of the ratings on the Notes without regard to the effect of the Policy.

Downgrading. The Sponsor will not engage in any activity which would result in a downgrading or withdrawal of the ratings on the Notes Securities without regard to the effect of the PolicyPolicy or the Guarantee.

Downgrading. The Sponsor will not engage in any activity which would result in a downgrading or withdrawal of the ratings on the Notes Securities without regard to the effect of the Policy.