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

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 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 Effective 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 Effective Date, such Lender, will, upon the request of the Administrative Agent, assign at par its Commitment Commitments and all of its right, title and interest in and to any Loans Letters of Credit or L/C Advances outstanding thereunderhereunder, to an Eligible Assignee designated by the Administrative Agent and acceptable to Intermet the Company in accordance with the terms of this Agreement.

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 Letters of Credit or 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 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 Letters of Credit or 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 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 Letters of Credit or Loans outstanding thereunder, to an Eligible Assignee designated by the Administrative Agent and acceptable to Intermet the Borrower in accordance with the terms of this Agreement.