Common use of Notices to CMHC re: Swap Agreements Clause in Contracts

Notices to CMHC re: Swap Agreements. (1) The Partnership shall provide notice to CMHC of the termination (or novation) of each Swap Agreement contemporaneously with the earlier of (i) notice of such termination (or novation) to a Rating Agency, (ii) notice of such termination (or novation) being provided to or otherwise made available to Covered Bondholders and (iii) five Canadian Business Days following such termination (or novation). Any such notice shall include the reasons for the termination (or novation) and, if the applicable Swap Agreement has been novated, all information relating to the replacement Swap Provider required by the CMHC Guide and the documentation governing such novated Swap Agreement. (2) In the event that a Ratings Trigger under a Swap Agreement is breached and the obligations of the applicable Swap Provider are guaranteed by another entity, the Partnership shall forthwith notify CMHC of the identity of such guarantor and the ratings by each of the Rating Agencies of the short-term, unsecured, unsubordinated and unguaranteed debt obligations of such guarantor.

Notices to CMHC re: Swap Agreements. (1a) The Partnership Guarantor shall provide notice to CMHC of the termination (or novation) of each Swap Agreement contemporaneously with the earlier of (i) notice of such termination (or novation) to a Rating Agency, (ii) notice of such termination (or novation) being provided to or otherwise made available to Covered Bondholders and (iii) five Canadian Business Days following such termination (or novation). Any such notice shall include the reasons for the termination (or novation) and, if the applicable Swap Agreement has been novated, all information relating to the replacement Swap Provider required by the CMHC Guide and the documentation governing such novated Swap Agreement. (2b) In the event that a Ratings Trigger under a Swap Agreement is breached and the obligations of the applicable Swap Provider are guaranteed by another entity, the Partnership Guarantor shall forthwith notify CMHC of the identity of such guarantor and the ratings by each of the Rating Agencies of the short-term, unsecured, unsubordinated and unguaranteed debt obligations of such guarantor.

Notices to CMHC re: Swap Agreements. (1a) The Partnership Guarantor shall provide notice to CMHC of the termination (or novation) of each Swap Agreement contemporaneously with the earlier of (i) notice of such termination (or novation) to a Rating Agency, (ii) notice of such termination (or novation) being provided to or otherwise made available to Covered Bondholders and (iii) five Canadian Business Days following such termination (or novation). Any such notice shall include the reasons for the termination (or novation) and, if the applicable Swap Agreement has been novated, all information relating to the replacement Swap Provider required by the CMHC Guide and the documentation governing such novated Swap Agreement. (2b) In the event that a Ratings Trigger under a Swap Agreement is breached and the obligations of the applicable Swap Provider are guaranteed by another entity, the Partnership Guarantor shall forthwith notify CMHC of the identity of such guarantor and the ratings by each of the Rating Agencies of the short-term, unsecured, unsubordinated and unguaranteed debt obligations obligations, and issuer default ratings, of such guarantor.

Notices to CMHC re: Swap Agreements. (1a) The Partnership Guarantor shall provide notice to CMHC of the termination (or novation) of each Swap Agreement contemporaneously with the earlier of (i) notice of such termination (or novation) to a Rating Agency, (ii) notice of such termination (or novation) being provided to or otherwise made available to Covered Bondholders and (iii) five Canadian Montreal Business Days following such termination (or novation). Any such notice shall include the reasons for the termination (or novation) and, if the applicable Swap Agreement has been novated, all information relating to the replacement Swap Provider required by the CMHC Guide and the documentation governing such novated Swap Agreement. (2b) In the event that a Ratings Trigger under a Swap Agreement is breached and the obligations of the applicable Swap Provider are guaranteed by another entity, the Partnership Guarantor shall forthwith notify CMHC of the identity of such guarantor and the ratings by each of the Rating Agencies of the short-term, unsecured, unsubordinated and unguaranteed debt obligations of such guarantor.