Common use of Guaranty Agreement Clause in Contracts

Guaranty Agreement. If Seller’s Performance Assurance obligation is satisfied by a Guaranty Agreement, such agreement shall be in the form of Exhibit O executed by the Guarantor identified in Section 1.07(b)(i) or other party, in each case acceptable to Buyer and meeting the Credit Rating requirements for the Guarantor set forth immediately below. The Guarantor shall maintain a Credit Rating of at least: “BBB-” from S&P, “Baa3” from Xxxxx’x, and “BBB-” from Fitch, if Guarantor is rated by all three ratings agencies; The lower of “BBB-” by S&P, “Baa3” by Xxxxx’x, or “BBB-” by Fitch if Guarantor is rated by only two of the three ratings agencies; or

Guaranty Agreement. If Seller’s Performance Assurance obligation is satisfied by a Guaranty Agreement, such agreement shall be in the form of Exhibit O executed by the Guarantor identified in Section 1.07(b)(i) or other party, in each case acceptable to 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, “Baa3” from Xxxxx’x, and “BBB-” from Fitch, if Guarantor is rated by all three ratings agencies; ; (ii) The lower of “BBB-” by S&P, “Baa3” by Xxxxx’x, or “BBB-” by Fitch if Guarantor is rated by only two of the three ratings agencies; or (iii) “BBB-” by S&P, “Baa3” by Xxxxx’x, or “BBB-” by Fitch if Guarantor is rated by only one of the ratings agency.