Event of Default/Additional Termination Event. Failure by Xxxxxx to comply with the requirement of this Part 6(1)II to use commercially reasonable efforts to obtain an Eligible Guarantee in respect of all Xxxxxx’x present and future obligations under this Agreement or Qualifying Novation shall constitute an Event of Default with respect to Xxxxxx. If Xxxxxx has not, within 10 Business Days of the occurrence of a Ratings Event II, obtained an Eligible Guarantee in respect of all Xxxxxx’x present and future obligations under this Agreement or effected a Qualifying Novation, it shall constitute an Additional Termination Event in respect of which Xxxxxx is the sole Affected Party and all Transactions are Affected Transactions, but only if:
Appears in 9 contracts
Samples: Master Agreement (J.P. Morgan Alternative Loan Trust 2007-A1), Isda Master Agreement (C-Bass 2007-Cb1 Trust), Isda Master Agreement (Jpmac 2007-Ch2)
