Common use of Exposed Party's Rights and Remedies Clause in Contracts

Exposed Party's Rights and Remedies. If at any time (i) an Event of Default or Termination Event with respect to the Non-Exposed Party has occurred and is continuing or (ii) an Early Termination Date has occurred or been designated as a result of an Event of Default or Termination Event with respect to the Non-Exposed Party, then the Exposed Party may do any one or more of the following: (x) exercise any of the rights and remedies of a secured party with respect to the Performance Assurance provided by the Non-Exposed Party to it hereunder, including any such rights and remedies under law then in effect; (y) exercise its rights of setoff against any and all property of the Non-Exposed Party in the possession of the Exposed Party or its agent; or (z) draw on any outstanding Letter of Credit issued for its benefit. The Exposed Party shall either (y) apply the proceeds of the Performance Assurance realized upon the exercise of any such rights or remedies to reduce the Non-Exposed Party's obligations under the Confirmation and all outstanding Swaps (the Non-Exposed Party remaining liable for any amounts owing to the Exposed Party after such application), subject to the Exposed Party's obligation to return any surplus proceeds remaining after such obligations are satisfied in full or (z) hold such proceeds as collateral security for the Non-Exposed Party's obligations to the Exposed Party under the Confirmation and all outstanding Swaps.

Exposed Party's Rights and Remedies. If at any time (i) an Event of Default or Termination Event with respect to the Non-Exposed Party has occurred and is continuing or (ii) an Early Termination Date has occurred or been designated as a result of an Event of Default or Termination Event with respect to the Non-Exposed Party, then the Exposed Party may do any one or more of the following: (x) exercise any of the rights and remedies of a secured party with respect to the Performance Assurance provided by the Non-Exposed Party to it hereunder, including any such rights and remedies under law then in effect; (y) exercise its rights of setoff against any and all property of the Non-Exposed Party in the possession of the Exposed Party or its agent; or (z) draw on any outstanding Letter of Credit issued for its benefit. The Exposed Party shall either (y) apply the proceeds of the Performance Assurance realized upon the exercise of any such rights or remedies to reduce the Non-Exposed Party's ’s obligations under the Confirmation and all outstanding Swaps (the Non-Exposed Party remaining liable for any amounts owing to the Exposed Party after such application), subject to the Exposed Party's ’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full or (z) hold such proceeds as collateral security for the Non-Exposed Party's ’s obligations to the Exposed Party under the Confirmation and all outstanding Swaps.

Exposed Party's Rights and Remedies. If at any time (i) an Event of Default or Termination Event with respect to the Non-Exposed Party has occurred and is continuing or (ii) an Early Termination Date has occurred or been designated as a result of an Event of Default or Termination Event with respect to the Non-Exposed Party, then the Exposed Party may do any one or more of the following: (x) exercise any of the rights and remedies of a secured party with respect to the Performance Assurance provided by the Non-Exposed Party to it hereunderAssurance, including any such rights and remedies under law then in effect; (y) exercise its rights of setoff against any and all property of the Non-Exposed Party in the possession of the Exposed Party or its agent; or and (z) draw on any outstanding Letter of Credit issued for its benefit. The Exposed Party shall either (y) apply the proceeds of the Performance Assurance realized upon the exercise of any such rights or remedies to reduce the Non-Exposed Party's obligations under the Confirmation and all outstanding Swaps Agreement or this Annex (the Non-Exposed Party remaining liable for any amounts owing to the Exposed Party after such application), subject to the Exposed Party's obligation to return any surplus proceeds remaining after such obligations are satisfied in full or (z) hold such proceeds as collateral security for the Non-Exposed Party's ’s obligations to the Exposed Party under the Confirmation and all outstanding SwapsAgreement or this Annex.

Exposed Party's Rights and Remedies. If at any time (i) an Event of Default or Termination Event of Change with respect to the Non-Exposed Party has occurred and is continuing or (ii) an Early Termination Date or Accelerated Termination Date has occurred or been designated as a result of an Event of Default or Termination an Event of Change with respect to the Non-Exposed Party, then the Exposed Party may do any one or more of the following: (x) exercise any of the rights and remedies of a secured party with respect to the Performance Assurance provided by the Non-Exposed Party to it hereunderAssurance, including any such rights and remedies under law then in effect; (y) exercise its rights of setoff against any and all property of the Non-Exposed Party in the possession of the Exposed Party or its agent; or and (z) draw on any outstanding Letter of Credit issued for its benefit. The Exposed Party shall either (y) apply the proceeds of the Performance Assurance realized upon the exercise of any such rights or remedies to reduce the Non-Exposed Party's obligations under the Confirmation and all outstanding Swaps Agreement or this Annex (the Non-Exposed Party remaining liable for any amounts owing to the Exposed Party after such application), subject to the Exposed Party's obligation to return any surplus proceeds remaining after such obligations are satisfied in full or (z) hold such proceeds as collateral security for the Non-Exposed Party's ’s obligations to the Exposed Party under the Confirmation and all outstanding SwapsAgreement or this Annex.

Exposed Party's Rights and Remedies. If at any time (i) an Event of Default or Termination Event with respect to the Non-Exposed Party has occurred and is continuing or (ii) an Early Termination Date has occurred or been designated as a result of an Event of Default or Termination Event with respect to the Non-Exposed Party, then the Exposed Party may do any one or more of the following: (x) exercise any of the rights and remedies of a secured party with respect to the Performance Assurance provided by the Non-Exposed Party to it hereunder, including any such rights and remedies under law then in effect; (y) exercise its rights of setoff against any and all property of the Non-Exposed Party in the possession of the Exposed Party or its agent; or (z) draw on any outstanding Letter of Credit issued for its benefit. The Exposed Party shall either (y) apply the proceeds of the Performance Assurance realized upon the exercise of any such rights or remedies to reduce the Non-Exposed Party's ’s obligations under the Confirmation and all outstanding Swaps (the Non-Exposed Party remaining liable for any amounts owing to the Exposed Party after such application), subject to the Exposed Party's ’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full or (z) hold such proceeds as collateral security for the Non-Exposed Party's ’s obligations to the Exposed Party under the Confirmation and all outstanding Swaps.

Exposed Party's Rights and Remedies. If at any time (i) an Event of Default or Termination Event with respect to the Non-Exposed Party has occurred and is continuing or (ii) an Early Termination Date has occurred or been designated as a result of an Event of Default or Termination Event with respect to the Non-Exposed Party, then the Exposed Party may do any one or more both of the following: (x) exercise any of the rights and remedies of a secured party with respect to the Performance Assurance provided by the Non-Exposed Party to it hereunder, including any such rights and remedies under law then in effect; effect or (y) exercise its rights of setoff against any and all property of the Non-Exposed Party in the possession of the Exposed Party or its agent; or (z) draw on any outstanding Letter of Credit issued for its benefit. The Exposed Party shall either (y) apply the proceeds of the Performance Assurance realized upon the exercise of any such rights or remedies to reduce the Non-Exposed Party's ’s obligations under the Confirmation and all outstanding Swaps (the Non-Exposed Party remaining liable for any amounts owing to the Exposed Party after such application), subject to the Exposed Party's ’s obligation to return any surplus proceeds remaining after such obligations are satisfied in full or (z) hold such proceeds as collateral security for the Non-Exposed Party's ’s obligations to the Exposed Party under the Confirmation and all outstanding Swaps.