Common use of PRIMACY OF CREDIT RATINGS Clause in Contracts

PRIMACY OF CREDIT RATINGS. Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 13, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 13.1.1 to 13.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 13.3 to 13.6; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 13.3.2(b).  [Rating Agency 1] [Rating Agency 2] Entity Credit rating (long term) Credit Rating Threshold Supplier [Panel Guarantor/ [and Call Off Guarantor] In this Panel Agreement Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier’s Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Panel Agreement Schedule 17 applies. Without prejudice to the Authority's obligation to disclose Information in accordance with FOIA or Clause 27.4 (Freedom of Information), the Authority will, in its sole discretion, acting reasonably, seek to apply the relevant exemption set out in the FOIA to the following Information: In this Panel Agreement Schedule 18, the following definitions shall apply:

PRIMACY OF CREDIT RATINGS. Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 13142, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 13.1.1 142.1.1 to 13.1.6142.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 13.3 to 13.6142.3to 142.6; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 13.3.2(b142.3.2(b).    [Rating Agency 1] – Xxx & Xxxxxxxxxx [Rating Agency 2] Entity Credit rating (long term) Credit Rating Threshold - Experian Supplier [Panel Guarantor/ to be populated with the Supplier’s D&B and Experian ratings as at the point of award] D&B Risk Indicator 2 – Lower than average risk Experian - Fair Framework Guarantor [to be populated with the Framework Guarantor’s D&B and Call Off GuarantorExperian ratings as at the point of award] D&B Risk Indicator 2 – Lower than average risk Experian - Good In this Panel Agreement Framework Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier’s 's Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Panel Agreement Framework Schedule 17 applies. Without prejudice to the Authority's obligation to disclose Information in accordance with FOIA or Clause 27.4 24.4 (Freedom of Information), the Authority will, in its sole discretion, acting reasonably, seek to apply the relevant exemption set out in the FOIA to the following Information: In this Panel Agreement Schedule 18, the following definitions shall apply:

PRIMACY OF CREDIT RATINGS. Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 13, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 13.1.1 to 13.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 13.3 3.2 to 13.63.5; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 13.3.2(b)3.2.2.2.    [Rating Agency 1] [Rating Agency 2] Entity Credit rating (long term) Credit Rating Threshold Supplier [Panel Guarantor/ [and Call Off Guarantor] Framework Guarantor In this Panel Agreement Framework Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier’s 's Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Panel Agreement Framework Schedule 17 applies. Without prejudice to the Authority's obligation to disclose Information in accordance with FOIA or Clause 27.4 25.4 (Freedom of Information), the Authority will, in its sole discretion, acting reasonably, seek to apply the relevant exemption set out in the FOIA to the following Information: In this Panel Agreement Schedule 18, the following definitions shall apply:

PRIMACY OF CREDIT RATINGS. Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 13136, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 13.1.1 136.1.1 to 13.1.6136.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 13.3 136.3 to 13.6136.6; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 13.3.2(b136.3.2(b).    [Rating Agency 1] [Rating Agency 2] Entity Credit rating (long term) Credit Rating Threshold Supplier [Panel Guarantor/ [and Call Off Guarantor] Guarantor In this Panel Agreement Framework Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier’s 's Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Panel Agreement Framework Schedule 17 applies. Without prejudice to the Authority's obligation to disclose Information in accordance with FOIA or Clause 27.4 26.4 (Freedom of Information), the Authority will, in its sole discretion, acting reasonably, seek to apply the relevant exemption set out in the FOIA to the following Information: In this Panel Agreement Schedule 18, the following definitions shall apply:

PRIMACY OF CREDIT RATINGS. Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 13131, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 13.1.1 131.1.1 to 13.1.6131.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 13.3 131.3 to 13.6131.6; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 13.3.2(b131.3.2(b).  [Rating Agency 1] [Rating Agency 2] - Xxxx and Bradstreet Entity Credit rating (long term) Credit Rating Threshold Supplier 51 51 [Panel Framework Guarantor/ [and Call Off Guarantor] 51 51 In this Panel Agreement Framework Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier’s 's Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Panel Agreement Framework Schedule 17 applies. Without prejudice to the Authority's obligation to disclose Information in accordance with FOIA or Clause 27.4 27.3 (Transparency and Freedom of Information), the Authority will, in its sole discretion, acting reasonably, seek to apply the relevant exemption set out in the FOIA to the following Information: In this Panel Agreement Schedule 18, the following definitions shall apply:

PRIMACY OF CREDIT RATINGS. Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 13132, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 13.1.1 132.1.1 to 13.1.6132.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 13.3 to 13.6132.3to 132.6; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 13.3.2(b132.3.2(b).    [Rating Agency 1] – Xxx & Xxxxxxxxxx [Rating Agency 2] Entity Credit rating (long term) Credit Rating Threshold - Experian Supplier [Panel Guarantor/ to be populated with the Supplier’s D&B and Experian ratings as at the point of award] D&B Risk Indicator 2 – Lower than average risk Experian – Fair Framework Guarantor [to be populated with the Framework Guarantor’s D&B and Call Off GuarantorExperian ratings as at the point of award] D&B Risk Indicator 2 – Lower than average risk Experian – Good In this Panel Agreement Framework Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier’s 's Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Panel Agreement Framework Schedule 17 applies. Without prejudice to the Authority's obligation to disclose Information in accordance with FOIA or Clause 27.4 24.4 (Freedom of Information), the Authority will, in its sole discretion, acting reasonably, seek to apply the relevant exemption set out in the FOIA to the following Information: In this Panel Agreement Schedule 18, the following definitions shall apply:

PRIMACY OF CREDIT RATINGS. Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 13116, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 13.1.1 116.1.1 to 13.1.6116.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 13.3 116.3 to 13.6116.6; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 13.3.2(b116.3.2(b).  [Rating Agency 1] [Rating Agency 2] Entity Credit rating (long term) Credit Rating Threshold Supplier [Panel Guarantor/ [and Call Off Guarantor] In this Panel Agreement Framework Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier’s 's Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Panel Agreement Framework Schedule 17 applies. Without prejudice to the Authority's obligation to disclose Information in accordance with FOIA or Clause 27.4 (Freedom of Information), the Authority will, in its sole discretion, acting reasonably, seek to apply the relevant exemption set out in the FOIA to the following Information: In this Panel Agreement Schedule 18, the following definitions shall apply:

PRIMACY OF CREDIT RATINGS. Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 13127, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 13.1.1 127.1.1 to 13.1.6127.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 13.3 to 13.6127.3to 127.6; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 13.3.2(b127.3.2(b).  [Rating Agency 1] [Rating Agency 2] Entity Credit rating (long term) Credit Rating Threshold - Experian Supplier [Panel Guarantor/ to be populated with the Supplier’s Experian ratings as at the point of award] Experian - Fair Framework Guarantor [and Call Off to be populated with the Framework Guarantor’s Experian ratings as at the point of award] Experian - Good In this Panel Agreement Framework Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier’s 's Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Panel Agreement Framework Schedule 17 applies. Without prejudice to the Authority's obligation to disclose Information in accordance with FOIA or Clause 27.4 24.4 (Freedom of Information), the Authority will, in its sole discretion, acting reasonably, seek to apply the relevant exemption set out in the FOIA to the following Information: In this Panel Agreement Schedule 18, the following definitions shall apply: