Common use of No Amendment without Prior Confirmation by Rating Agencies Clause in Contracts

No Amendment without Prior Confirmation by Rating Agencies. Section 9(b) of this Agreement is hereby amended by adding the following immediately before the period at the end thereof: “, and unless each Rating Agency confirms that such amendment will not cause the reduction, suspension or withdrawal of the then-current rating of any of the Investor Notes, unless such amendment (i) clarifies any term or provision, corrects any inconsistency, cures any ambiguity, or corrects any typographical error in this Agreement or (ii) amends the notional amount or the other terms of a confirmation to satisfy the requirements of the Indenture (in which case written copies of such proposed amendment will be provided to the Rating Agencies prior to the effectiveness of such amendment)”.

Appears in 6 contracts

Samples: Master Agreement (PHH Corp), Master Agreement (PHH Corp), Master Agreement (PHH Corp)

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No Amendment without Prior Confirmation by Rating Agencies. Section 9(b) of this Agreement is hereby amended by adding the following immediately before the period at the end thereofof such Section: “, and unless each the Rating Agency confirms Agencies confirm that such amendment will not cause the reduction, suspension or withdrawal of the then-then current rating of on any of the Investor Notes, unless such amendment (i) clarifies any term or provision, corrects any inconsistency, cures any ambiguity, or corrects any typographical error in this the Agreement or (ii) amends the notional amount or the other terms of a confirmation to satisfy the requirements of the Indenture (in which case written copies of such proposed amendment will be provided to the Rating Agencies prior to the effectiveness of such amendment)..

Appears in 2 contracts

Samples: Isda Master Agreement (CNH Equipment Trust 2006-B), Isda Master Agreement (CNH Capital Receivables LLC)

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