Common use of Notice of Rating Change Clause in Contracts

Notice of Rating Change. In the event that the Class A-3 Certificates are not rated "AAA" by S&P and "Aaa" by Xxxxx'x, respectively, on the Closing Date, the Servicer shall give written notice to the Auction Agent and the Insurer of the initial ratings on the Class A-3 Certificates by S&P and Xxxxx'x substantially in the form of the Notice of Ratings. If there is a change in any of the ratings of the Certificates at any time, the Servicer shall give written notice to the Auction Agent and the Insurer or if the Class A-3 Certificates are no longer maintained as Book-Entry Certificates by the Depository, to the Trustee, substantially in the form of the Notice of Ratings within three (3) Business Days of its receipt of notice of such change, but not later than the close of business on the Business Day immediately preceding an Auction Date (as defined in Schedule I) if the Servicer has received written notice of such change in a rating or ratings prior to 12:00 noon on such Business Day, and the Auction Agent or the Trustee, as applicable, shall take into account such change in rating or ratings for purposes hereof and any Auction, so long as such Notice of Ratings is received by the Auction Agent or Trustee no later than the close of business on such Business Day.

Notice of Rating Change. In the event that the Class A-3 A-2 Certificates are not rated "AAA" by S&P and "Aaa" by Xxxxx'x, respectively, on the Closing Date, the Servicer shall give written notice to the Auction Agent and the Insurer of the initial ratings on the Class A-3 A-2 Certificates by S&P and Xxxxx'x substantially in the form of the Notice of Ratings. If there is a change in any of the ratings of the Certificates at any time, the Servicer shall give written notice to the Auction Agent and the Insurer or if the Class A-3 A-2 Certificates are no longer maintained as in Book-Entry Certificates Form by the Depository, to the Trustee, substantially in the form of the Notice of Ratings within three (3) Business Days of its receipt of notice of such change, but not later than the close of business on the Business Day immediately preceding an Auction Date (as defined in Schedule I) if the Servicer has received written notice of such change in a rating or ratings prior to 12:00 noon on such Business Day, and the Auction Agent or the Trustee, as applicable, shall take into account such change in rating or ratings for purposes hereof and any Auction, so long as such Notice of Ratings is received by the Auction Agent or Trustee no later than the close of business on such Business Day.

Notice of Rating Change. In the event that any of the Class A-3 A Certificates are not rated "AAA" by S&P and "Aaa" by Xxxxx'x, respectively, on the Closing Date, the Servicer shall give written notice to the Auction Agent and the Insurer of the initial ratings on the Class A-3 A Certificates by S&P and Xxxxx'x substantially in the form of the Notice of Ratings. If there is a change in any of the ratings of the Certificates at any time, the Servicer shall give written notice to the Auction Agent and the Insurer or if the Class A-3 A Certificates are no longer maintained as in Book-Entry Certificates Form by the Depository, to the Trustee, substantially in the form of the Notice of Ratings within three (3) Business Days of its receipt of notice of such change, but not later than the close of business on the Business Day immediately preceding an Auction Date (as defined in Schedule I) if the Servicer has received written notice of such change in a rating or ratings prior to 12:00 noon on such Business Day, and the Auction Agent or the Trustee, as applicable, shall take into account such change in rating or ratings for purposes hereof and any Auction, so long as such Notice of Ratings is received by the Auction Agent or Trustee no later than the close of business on such Business Day.

Notice of Rating Change. In the event that the Class A-3 Certificates Notes are not rated "AAA" in the highest rating category by S&P and "Aaa" by Xxxxx'x, respectively, the Rating Agencies on the Closing Date, the Servicer shall give written notice to the Auction Agent and the Insurer of the initial ratings on the Class A-3 Certificates Notes by S&P and Xxxxx'x substantially in the form of the Notice of Ratings. If there is a change in any of the ratings of the Certificates Notes at any time, the Servicer shall give written notice to the Auction Agent and the Insurer or if the Class A-3 Certificates Notes are no longer maintained as in Book-Entry Certificates Form by the Depository, to the Indenture Trustee, substantially in the form of the Notice of Ratings within three (3) Business Days of its receipt of notice of such change, but not later than the close of business on the Business Day immediately preceding an Auction Date (as defined in Schedule I) if the Servicer has received written notice of such change in a rating or ratings prior to 12:00 noon on such Business Day, and the Auction Agent or the Indenture Trustee, as applicable, shall take into account such change in rating or ratings for purposes hereof and any Auction, so long as such Notice of Ratings is received by the Auction Agent or Indenture Trustee no later than the close of business on such Business Day.

Notice of Rating Change. In the event that the Class A-3 II A-2 Certificates are not rated "AAA" by S&P and "Aaa" by Xxxxx'x, respectively, on the Closing Date, the Servicer shall give written notice to the Auction Agent and the Insurer of the initial ratings on the Class A-3 II A-2 Certificates by S&P and Xxxxx'x substantially in the form of the Notice of Ratings. If there is a change in any of the ratings of the Certificates at any time, the Servicer shall give written notice to the Auction Agent and the Insurer or if the Class A-3 II A-2 Certificates are no longer maintained as in Book-Entry Certificates Form by the Depository, to the Trustee, substantially in the form of the Notice of Ratings within three (3) Business Days of its receipt of notice of such change, but not later than the close of business on the Business Day immediately preceding an Auction Date (as defined in Schedule I) if the Servicer has received 66 written notice of such change in a rating or ratings prior to 12:00 noon on such Business Day, and the Auction Agent or the Trustee, as applicable, shall take into account such change in rating or ratings for purposes hereof and any Auction, so long as such Notice of Ratings is received by the Auction Agent or Trustee no later than the close of business on such Business Day.

Notice of Rating Change. In the event that the Class A-3 A-2 Certificates are not rated "AAA" by S&P and "Aaa" by Xxxxx'x, respectively, on the Closing Date, the Servicer shall give written notice to the Auction Agent and the Insurer of the initial ratings on the Class A-3 A-2 Certificates by S&P and Xxxxx'x substantially in the form of the Notice of Ratings. If there is a change in any of the ratings of the Certificates at any time, the Servicer shall give written notice to the Auction Agent and the Insurer or if the Class A-3 A-2 Certificates are no longer maintained as in Book-Entry Certificates Form by the Depository, to the Trustee, substantially in the form of the Notice of Ratings within three (3) Business Days of its receipt of notice of such change, but not later than the close of business on the Business Day immediately preceding an Auction Date (as defined in Schedule I) if the Servicer has received written notice of such change in a rating or ratings prior to 12:00 noon on such Business Day, and the Auction Agent or the Trustee, as applicable, shall take into account such change in rating or ratings for purposes hereof and any Auction, so long as such Notice of Ratings is received by the Auction Agent or Trustee no later than the close of business on such Business Day.