Common use of Program Support Agreement Downgrade Provisions Clause in Contracts

Program Support Agreement Downgrade Provisions. Notwithstanding the other provisions of this Section 2.15, a Bank Investor shall not be required to make a Downgrade Draw (or provide for the issuance of a letter of credit in lieu thereof) pursuant to Section 2.15(a) at a time when such Bank Investor has a downgrade collateral account (or letter of credit in lieu thereof) established pursuant to the Program Support Agreement to which it is a party in an amount at least equal to its Commitment, and the related Managing Agent may apply monies in such downgrade collateral account in the manner described in Section 2.16(b) as if such downgrade collateral account were a Downgrade Collateral Account.

Program Support Agreement Downgrade Provisions. Notwithstanding the other provisions of this Section 2.152.14, a Bank Investor shall not be required to make a Downgrade Draw (or provide for the issuance of a letter of credit in lieu thereof) pursuant to Section 2.15(a2.14(a) at a time when such Bank Investor has a downgrade collateral account (or letter of credit in lieu thereof) established pursuant to the Program Support Agreement to which it is a party in an amount at least equal to its Commitment, and the related Managing Agent may apply monies in such downgrade collateral account in the manner described in Section 2.16(b2.15(b) as if such downgrade collateral account were a Downgrade Collateral Account.

Program Support Agreement Downgrade Provisions. Notwithstanding the other provisions of this Section 2.151.11, a Bank Investor Purchaser shall not be required to make a Downgrade Draw (or provide for the issuance of a letter of credit in lieu thereof) pursuant to Section 2.15(a1.11(a) at a time when such Bank Investor Purchaser has a downgrade collateral account (or letter of credit in lieu thereof) established pursuant to the its Program Support Agreement relating to the transactions contemplated by this Agreement to which it is a party in an amount at least equal to its unused Commitment, and the related Managing Agent Related Administrator may apply monies in such downgrade collateral account in the manner described in Section 2.16(b1.12(b) as if such downgrade collateral account were a Downgrade Collateral Account.