Moody’s Second Rating Trigger Replacement Sample Clauses
The Moody’s Second Rating Trigger Replacement clause establishes a requirement for the replacement of a party or entity if Moody’s, a credit rating agency, downgrades their credit rating to a specified lower threshold for a second time. In practice, this clause typically applies to financial agreements where the creditworthiness of a counterparty is crucial, such as in securitizations or derivatives transactions. If the affected party’s rating falls below the agreed level, they must be replaced or take remedial actions to maintain the integrity of the agreement. The core function of this clause is to protect the other parties from increased credit risk by ensuring that only entities with sufficient credit quality remain involved in the transaction.
Moody’s Second Rating Trigger Replacement. If (A) a Moody’s Second Trigger Ratings Event has occurred and been continuing for 30 or more Local Business Days and (B) (i) at least one Eligible Replacement has made a Firm Offer to be the transferee of all of Party A’s rights and obligations under this Agreement (and such Firm Offer remains an offer that will become legally binding upon such Eligible Replacement upon acceptance by the offeree) and/or (ii) an Eligible Guarantor has made a Firm Offer to provide an Eligible Guarantee (and such Firm Offer remains an offer that will become legally binding upon such Eligible Guarantor immediately upon acceptance by the offeree), then an Additional Termination Event shall have occurred with respect to Party A, Party A shall be the sole Affected Party with respect to such Additional Termination Event and all Transactions hereunder shall be Affected Transactions.
Moody’s Second Rating Trigger Replacement. The ▇▇▇▇▇’▇ Second Rating Trigger Requirements apply and 30 or more Local Business Days have elapsed since the last time the Moody’s Second Rating Trigger Requirements did not apply and (y) at least one Eligible Replacement has made a Firm Offer that would, assuming the occurrence of an Early Termination Date, qualify as a Market Quotation (on the basis that paragraphs (i) and (ii) of Part 1(m) above apply) and which remains capable of becoming legally binding upon acceptance. For the purpose of sub-paragraph (A), (C) and (D) above:
Moody’s Second Rating Trigger Replacement. It shall be a▇ Additional termination Event with respect to Party A as sole Affected Party if (x) the Moody's Second Rating Trigger Requirements a▇▇▇▇ ▇▇d 30 or more Local Business Days have elapsed since the last time the Moody's Second Rating Trigger Requirements did not apply and (y)
(i) at least one Eligible Replacement has made a Firm Offer (which remains capable of becoming legally binding upon acceptance) to be the transferee of a transfer to be made in accordance with Part 5(m)(ii) below and/or (ii) at least one entity with the Moody's First Trigger Required Ratings and/o▇ ▇▇▇ ▇oody's Second Trigger Required Ratings has ▇▇▇▇ ▇ Firm Offer (which remains capable of becoming legally binding upon acceptance by the offeree) to provide an Eligible Guarantee in respect of all of Party A's present and future obligations under this Agreement. For the purpose of sub-paragraph (B) and (C) above:
Moody’s Second Rating Trigger Replacement. If (A) Party A has failed to comply with the Second Trigger Conditions and 30 or more Local Business Days have elapsed since the last time a Moody's Second Trigger Ratings Event did not apply and (B) (i) at least one Eligible Replacement has made a Firm Offer to be the transferee of all of Party A's rights and obligations under this Agreement in accordance with the definition of "Permitted Transfer" and/or (ii) at least one entity that maintains the Moody's First Trigger Ratings Threshold has made a Firm Offer to provide an Eligible Guarantee, in respect of all of Party A's present and future obligations under this Agreement, then an Additional Termination Event shall have occurred with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event.