Common use of Guaranty Agreement Clause in Contracts

Guaranty Agreement. If Seller’s Performance Assurance obligation is satisfied by a Guaranty Agreement, it shall be in the form of Exhibit I executed by a Guarantor reasonably acceptable to SCE meeting the Credit Rating requirements for the Guarantor set forth immediately below. The Guarantor shall maintain a Credit Rating of at least: (i) “BBB-” from S&P and “Baa3” from Xxxxx’x, if it is rated by both S&P and Xxxxx’x; or (ii) “BBB-” from S&P or “Baa3” from Xxxxx’x if it is rated by either S&P or Xxxxx’x but not by both. If at any time the Guarantor fails to maintain such Credit Ratings, the Seller shall provide to SCE Performance Assurance, or a replacement Guaranty Agreement from a Guarantor acceptable to SCE, within ten (10) Business Days.

Guaranty Agreement. If Seller’s Performance Assurance obligation is satisfied by a Guaranty Agreement, it such agreement shall be in the form of Exhibit I K executed by a the Guarantor reasonably identified in Section 1.06(d) or other party, in each case acceptable to SCE Buyer and meeting the Credit Rating requirements for the Guarantor set forth immediately below. The Guarantor shall maintain a Credit Rating of at least: (i) “BBB-” from S&P and “Baa3” from Xxxxx’x, if it is rated by both S&P and Xxxxx’x; or (ii) “BBB-” from S&P or “Baa3” from Xxxxx’x if it is rated by either S&P or Xxxxx’x but not by both. If at any time the Guarantor fails to maintain such Credit Ratings, the Seller shall provide to SCE Buyer Performance AssuranceAssurance in the form of cash or a Letter of Credit, or a replacement Guaranty Agreement from a Guarantor party acceptable to SCEBuyer, within ten (10) five Business DaysDays of such failure by the Guarantor.

Guaranty Agreement. If Seller’s Performance Assurance obligation is satisfied by a Guaranty Agreement, it shall be in the form of Exhibit I executed by a Guarantor reasonably acceptable to SCE meeting the Credit Rating requirements for the a Guarantor set forth immediately below. The Guarantor shall maintain a Credit Rating of at least: (i) “BBB-” from BBB-“from S&P and “Baa3” from Xxxxx’x, if it is rated by both S&P and Xxxxx’x; or (ii) “BBB-” “ from S&P or “Baa3” from Xxxxx’x if it is rated by either S&P or Xxxxx’x but not by both. If at any time the Guarantor fails to maintain such Credit Ratings, the Seller shall provide to SCE Performance AssuranceAssurance in the form of cash or a Letter of Credit, or a replacement Guaranty Agreement from a Guarantor party acceptable to SCE, within ten five (105) Business Days.