Common use of FAILURE TO MAINTAIN MINIMUM REQUIRED RATING Clause in Contracts

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 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 L/C Advances outstanding thereunderhereunder, to an Eligible Assignee designated by the Administrative Agent and acceptable to the Borrower Company 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 Closing 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 Closing Date, such Revolving Loan Lender, will, upon the request of the Administrative Agent, assign at par its Commitments Commitment 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 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 Closing 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 Closing Date, such Revolving Loan Lender, will, upon the request of the Administrative Agent, assign at par its Commitments Commitment 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 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 Closing 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 Closing Date, such Revolving Loan Lender, will, upon the request of the Administrative Agent, assign at par its Commitments Commitment 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 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 Closing 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 Closing Date, such Revolving Loan Lender, will, upon the request of the Administrative Agent, assign at par its Commitments Commitment 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 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 Closing 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 Closing Date, such Revolving Loan Lender, will, upon the request of the Administrative Agent, assign at par its Commitments Commitment 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 Intermet in accordance with the terms of this Agreement.