PRIMACY OF CREDIT RATINGS. 1Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under Paragraph 23 above, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 23.1.2 to 23.1.6 (inclusive) above, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then:
Appears in 2 contracts
Samples: Framework Agreement, Framework Agreement
PRIMACY OF CREDIT RATINGS. 1Without 6.1 Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under Paragraph 23 paragraphs 4 and 5 above, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 23.1.2 paragraphs 4.1.2 to 23.1.6 4.1.6 (inclusive) above, the Rating Agencies Agency review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then:then the Supplier shall be relieved automatically of its obligations under paragraphs 4.3 to 4.8 (inclusive) above.
Appears in 2 contracts
Samples: Wider Public Sector Travel Management Services Framework Agreement, Wider Public Sector Travel Management Services Framework Agreement
PRIMACY OF CREDIT RATINGS. 1Without Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under Paragraph 23 3 above, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 23.1.2 3.1.2 to 23.1.6 3.1.6 (inclusive) above, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then:
Appears in 1 contract
Samples: Framework Agreement
PRIMACY OF CREDIT RATINGS. 1Without Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under Paragraph 23 aboveparagraph 3, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 23.1.2 3.1.1 to 23.1.6 (inclusive) above3.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then:
Appears in 1 contract
Samples: Framework Agreement
PRIMACY OF CREDIT RATINGS. 1Without Without prejudice to the Supplier’s 's obligations and the Authority’s 's rights and remedies under Paragraph 23 aboveparagraph 2, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 23.1.2 any of paragraphs 3.1.2 to 23.1.6 (inclusive) above3.1.6, 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 3.3 to 3.6; and
Appears in 1 contract
Samples: Financial Distress Schedule
