Common use of Most Favored Nations Clause Clause in Contracts

Most Favored Nations Clause. If the Authority shall ever allow a provider of a loan, credit or liquidity for any of the Authority’s obligations on parity with the Notes to have the benefit of any type of “most favored nations” or “most favored lender” provision then the Bank shall immediately have the benefit of such provision and such provision shall be considered incorporated into this Agreement for the benefit of the Bank; provided however, that prior to the effectiveness of any such provision, the Bank shall obtain written confirmation from the Rating Agencies then rating the Notes that such provision is not the basis for such rating agency to reduce, withdraw, suspend or place on negative credit watch the ratings on the Notes. The Authority hereby confirms that no current loan, credit or liquidity facility for its obligations on parity with the Note contains a “most favored nations” or “most favored lender” clause. Notwithstanding anything herein to the contrary, this Section 6.20 shall not apply to any agreements now in effect or hereinafter entered into with the Texas Comptroller of Public Accounts or its affiliates.

Most Favored Nations Clause. If the Authority shall ever allow a provider of a loan, credit or liquidity for any of the Authority’s obligations on parity with the Notes to have the benefit of any type of “most favored nations” or “most favored lender” provision then the Bank shall immediately have the benefit of such provision and such provision shall be considered incorporated into this Agreement for the benefit of the Bank; provided provided, however, that prior to the effectiveness of any such provision, the Bank shall obtain written confirmation from the Rating Agencies then rating the Notes that such provision is not the basis for such rating agency to reduce, withdraw, suspend or place on negative credit watch the ratings on the Notes. The Authority hereby confirms that no current loan, credit or liquidity facility for its obligations on parity with the Note contains a “most favored nations” or “most favored lender” clause. Notwithstanding anything herein to the contrary, this Section 6.20 7.20 shall not apply to any agreements now in effect or hereinafter entered into with the Texas Comptroller of Public Accounts or its affiliates.

Most Favored Nations Clause. If the Authority shall ever allow a provider of a loan, credit or liquidity for any of the Authority’s obligations on parity with the Notes to have the benefit of any type of “most favored nations” or “most favored lender” provision then the Bank shall immediately have the benefit of such provision and such provision shall be considered incorporated into this Agreement for the benefit of the Bank; provided however, that prior to the effectiveness of any such provision, the Bank or the Authority shall obtain written confirmation from the Rating Agencies then rating the Notes that such provision is not the basis for such rating agency to reduce, withdraw, suspend or place on negative credit watch the ratings on the Notes. The Authority hereby confirms that no current loan, credit or liquidity facility for its obligations on parity with the Note Notes contains a “most favored nations” or “most favored lender” clause. Notwithstanding anything herein to the contrary, this Section 6.20 shall not apply to any agreements now in effect or hereinafter entered into with the Texas Comptroller of Public Accounts or its affiliates.