Common use of Qualifying Transfer Trigger Rating Clause in Contracts

Qualifying Transfer Trigger Rating. It shall constitute an Additional Termination Event in respect of which Party A shall be the sole Affected Party and all Transactions shall be Affected Transactions if (A) the Transfer Trigger Requirements apply and at least 30 or more Local Business Days have elapsed since the last time the Transfer Trigger Requirements did not apply and (B) at least one Eligible Replacement has made a Firm Offer that would, assuming the occurrence of an Early Termination Date, qualify as a Market Quotation (on the basis that paragraphs (i) and (ii) of Part 6(c) (Termination Amounts) below apply) and which remains capable of becoming legally binding upon acceptance.

Qualifying Transfer Trigger Rating. It shall constitute an Additional Termination Event in respect of which Party A shall be the sole Affected Party and all Transactions shall be Affected Transactions if if (A) the Transfer Trigger Requirements apply and at least 30 or more Local Business Days have elapsed since the last time the Transfer Trigger Requirements did not apply and (B) at least one Eligible Replacement has made a Firm Offer that would, assuming the occurrence of an Early Termination Date, qualify as a Market Quotation (on the basis that paragraphs (i) and (ii) of Part 6(c) (Termination Amounts) below apply) and which remains capable of becoming legally binding upon acceptance.