FAILURE TO MAINTAIN MINIMUM REQUIRED RATING. If any Lender has either (a) had its long-term deposit rating reduced below the Minimum Required Rating by either Rating Agency, or (b) in the case of a Lender that is a party to this Agreement on the Closing Date and has, on such date, a long-term deposit rating from the Rating Agencies below the applicable Minimum Required Rating, such Lender has received from either Rating Agency a reduction in its long-term deposit rating from the rating in effect on the Closing Date, such Lender, will, upon the request of the Administrative Agent, assign at par its Commitment and all of its right, title and interest in and to any Loans outstanding thereunder, to an Eligible Assignee designated by the Administrative Agent and acceptable to Intermet in accordance with the terms of this Agreement.
FAILURE TO MAINTAIN MINIMUM REQUIRED RATING. If any Revolving Loan Lender has either (a) had its long-term deposit rating reduced below the Minimum Required Rating by either Rating Agency, or (b) in the case of a Revolving Loan Lender that is a party to this Agreement on the Effective Date and has, on such date, a long-term deposit rating from the Rating Agencies below the applicable Minimum Required Rating, such Revolving Loan Lender has received from either Rating Agency a reduction in its long-term deposit rating from the rating in effect on the Effective Date, such Revolving Loan Lender, will, upon the request of the Administrative Agent, assign at par its Commitments and all of its right, title and interest in and to any Letters of Credit or Loans outstanding thereunder, to an Eligible Assignee designated by the Administrative Agent and acceptable to the Borrower in accordance with the terms of this Agreement.
FAILURE TO MAINTAIN MINIMUM REQUIRED RATING. If any Domestic Lender has either (A) had its long- term deposit rating reduced below the Minimum Required Rating by either Rating Agency, or (B) in the case of a Domestic Lender that is a party to this Agreement on the Closing Date and has, on such date, a long-term deposit rating from the Rating Agencies below the applicable Minimum Required Rating, such Domestic Lender has received from either Rating Agency a reduction in its long-term deposit rating from the rating in effect on the Closing Date, such Domestic Lender, will, upon the request of the Agent, assign its Letter of Credit Commitment and all of its right, title and interest in and to any Letters of Credit outstanding thereunder, to an Eligible Assignee designated by the Agent and acceptable to Intermet in accordance with the terms of this Agreement.
