Common use of External Verification Clause in Contracts

External Verification. Notwithstanding the definition of Valuation Agent and Valuation Date, at any time while the long-term unsecured debt or counterparty rating of Party A's Credit Support Provider is not above "BBB", the calculations of Exposure and the Value of any Eligible Credit Support or Posted Credit Support must be verified by an external mark monthly. Thx xxternal mark must be obtained by an indepexxxxt third party, and cannot be verified by the same entity more than four times in any 12-month period. In addition, the external mark-to-market valuations should rxxxxct the higher of two bids from counterparties that would be eligible and willing to provide the swap in the absence of the current provider. The Value of any Eligible Credit Support or Posted Credit Support and Exposure should be based on the greater of the calculations of the Valuation Agent and the external marks, and any deficiencies in Value and Exposure must be cured within three days.

External Verification. Notwithstanding the definition of Valuation Agent and Valuation Date, at any time while the long-term unsecured debt or counterparty rating of Party A's Credit Support Provider is not above "BBB", the calculations of Exposure and the Value of any Eligible Credit Support or Posted Credit Support must be verified by an external mark monthlyxxxx quarterly. Thx xxternal mark The external xxxx must be obtained by an indepexxxxt independent third party, and cannot be verified by the same entity more than four times in any 12-month period. In addition, the external markxxxx-to-market valuations should rxxxxct reflect the higher of two bids from counterparties that would be eligible and willing to provide the swap in the absence of the current provider. The Value of any Eligible Credit Support or Posted Credit Support and Exposure should be based on the greater of the calculations of the Valuation Agent and the external marks, and any deficiencies in Value and Exposure must be cured within three days.

External Verification. Notwithstanding the definition of Valuation Agent and Valuation Date, at any time while the long-term unsecured debt or counterparty rating of Party A's ’s Credit Support Provider is not above "“BBB"”, the calculations of Exposure and the Value of any Eligible Credit Support or Posted Credit Support must be verified by an external mark monthlyquarterly. Thx xxternal The external mark must be obtained by an indepexxxxt independent third party, and cannot be verified by the same entity more than four times in any 12-month period. In addition, the external mark-to-market valuations should rxxxxct reflect the higher of two bids from counterparties that would be eligible and willing to provide the swap in the absence of the current provider. The Value of any Eligible Credit Support or Posted Credit Support and Exposure should be based on the greater of the calculations of the Valuation Agent and the external marks, and any deficiencies in Value and Exposure must be cured within three days.

External Verification. Notwithstanding the definition of Valuation Agent and Valuation Date, at any time while the long-term unsecured debt or counterparty rating of Party A's ’s Credit Support Provider is not above "“BBB"”, the calculations of Exposure and the Value of any Eligible Credit Support or Posted Credit Support must be verified by an external mark monthlyxxxx quarterly. Thx xxternal mark The external xxxx must be obtained by an indepexxxxt independent third party, and cannot be verified by the same entity more than four times in any 12-month period. In addition, the external markxxxx-to-market valuations should rxxxxct reflect the higher of two bids from counterparties that would be eligible and willing to provide the swap in the absence of the current provider. The Value of any Eligible Credit Support or Posted Credit Support and Exposure should be based on the greater of the calculations of the Valuation Agent and the external marks, and any deficiencies in Value and Exposure must be cured within three days.