Common use of Moody's Implications Clause in Contracts

Moody's Implications. Notwithstanding any other provision of this Agreement, an Event of Default will occur with respect to Party A if on any Valuation Date, the Second Rating Trigger Requirements apply and at least 30 Local Business Days have elapsed since the last time the Second Rating Trigger Requirements did not apply, and Party A fails to post sufficient collateral to satisfy its obligations under the Credit Support Annex and such failure is not remedied on or before the third Local Business Day after notice of such failure is given to Party A.