Common use of Rating Agency Downgrade Clause in Contracts

Rating Agency Downgrade. If a Ratings Event (as defined below) occurs with respect to Party A (or any applicable credit support provider), then Party A shall at its own expense, (i) assign this Transaction hereunder to a third party within (30) days of such Ratings Event that meets or exceeds, or as to which any applicable credit support provider meets or exceeds, the Approved Ratings Thresholds (as defined below) on terms substantially similar to this Confirmation or (ii) deliver collateral, in an amount equal to the Exposure (as defined below), and an executed ISDA Credit Support Annex within (30) days of such Ratings Event and subject to S&P's and Moody's written confirmation that delivery of such collateral in the context of such downgrade will not result in a withdrawal, qualification or downgrade of the then current ratings assigned to the Certificates . For avoidance of doubt, a downgrade of the rating on the Certificates could occur in the event that Party A does not post sufficient collateral. For purposes of this Transaction, a "Ratings Event" shall occur with respect to Party A (or any applicable credit support provider), if its short-term unsecured and unsubordinated debt ceases to be rated at least "A-1" by S&P and at least "P-1"

Rating Agency Downgrade. If a Ratings Event (as defined below) occurs with respect to Party A (or any applicable credit support provider), then Party A shall at its own expense, (i) assign this Transaction hereunder to a third party within (30) days of such Ratings Event that meets or exceeds, or as to which any applicable credit support provider meets or exceeds, the Approved Ratings Thresholds (as defined below) on terms substantially similar to this Confirmation or (ii) deliver collateral, in an amount equal to the Exposure (as defined below), and an executed ISDA Credit Support Annex within (30) days of such Ratings Event and subject to S&P's and Moody's written confirmation that delivery of such collateral in the context ix xxx xontext of such downgrade will not result in a withdrawal, qualification or downgrade of the then current ratings assigned to the Certificates . For avoidance of doubt, a downgrade of the rating on the Certificates could occur in the event that Party A does not post sufficient collateral. For purposes of this Transaction, a "Ratings Event" shall occur with respect to Party A (or any applicable credit support provider), if its short-term unsecured and unsubordinated debt ceases to be rated at least "A-1" by S&P and at least "P-1" by Moody's (including in connection with a merger, consolidation ox xxxxx similar transaction by Party A or any applicable credit support provider) such ratings being referred to herein as the "Approved Ratings Thresholds," (unless, within 30 days thereafter, each of Moody's and S&P has reconfirmed the ratings of the Certificates, as xxplicable, which was in effect immediately prior thereto. Only with respect to such Ratings Event, "

Rating Agency Downgrade. If a Ratings Event (as defined below) occurs with respect to Party A (or any applicable credit support provider), then Party A shall at its own expense, (i) assign this Transaction hereunder to a third party satisfactory to the Trustee within (30) days of such Ratings Event that meets or exceeds, or as to which any applicable credit support provider meets or exceeds, the Approved Ratings Thresholds (as defined below) on terms substantially similar to this Confirmation or (ii) deliver collateral, in an amount equal to which will satisfy the Exposure (as defined below)then current rating agency criteria, and an executed ISDA Credit Support Annex within (30) days of such Ratings Event and subject to S&P's ’s and Moody's ’s written confirmation that delivery of such collateral in the context of such downgrade will not result in a withdrawal, qualification or downgrade of the then current ratings assigned to the Certificates Securities. For avoidance of doubt, a downgrade of the rating on the Certificates Securities could occur in the event that Party A does not post sufficient collateral. For purposes of this Transaction, a "“Ratings Event" ” shall occur with respect to Party A (or any applicable credit support provider), if its short-term unsecured and unsubordinated debt ceases to be rated at least "“A-1" ” by S&P and at least "“P-1"” by Moody’s (including in connection with a merger, consolidation or other similar transaction by Party A or any applicable credit support provider) such ratings being referred to herein as the “Approved Ratings Thresholds” (unless, within 30 days thereafter, each of S&P and Moody’s has reconfirmed the ratings of the Securities, as applicable, which was in effect immediately prior thereto).

Rating Agency Downgrade. If a Ratings Event (as defined below) occurs with respect to Party A (or any applicable credit support provider)A, then Party A shall shall, at its own expense, (i) assign this Transaction Transactions hereunder to a third party within thirty (30) days of such Ratings Event that meets or exceeds, or as to which any applicable credit support provider meets or exceeds, the Approved Ratings Thresholds (as defined below) on terms substantially similar to this Confirmation or (ii) deliver collateral, in an amount equal to the Exposure (as defined below), and an executed ISDA Credit Support Annex within thirty (30) days of such Ratings Event and subject to S&P's and Moody's written confirmation that delivery of such collateral in the context of such downgrade will not result in a withdrawal, qualification or downgrade of the then current ratings assigned to the Certificates Certificates. For avoidance of doubt, a downgrade of the rating on the Certificates could occur in the event that Party A does not post sufficient collateral. For purposes of this Transaction, a "Ratings Event" shall occur with respect to Party A (or any applicable credit support provider)A, if its short-term unsecured and unsubordinated debt ceases certificates of deposit cease to be rated at least "A-1" by S&P S&P, and at least "P-1" by Moody's (including in connection with a merger, consolidation or other similar transaction by Party A) such ratings being referred to herein as the "Approved Ratings Thresholds," (unless, within 30 days after such withdrawal or downgrade, each of Moody's and S&P has reconfirmed the rating of the Certificates, which was in effect immediately prior to such withdrawal or downgrade) Only with respect to such Ratings Event, "

Rating Agency Downgrade. If a Ratings Event (as defined below) occurs with respect to Party A (or any applicable credit support provider)Cap Provider, then Party A shall Cap Provider shall, at its is own expense, (i) assign this Transaction hereunder to a third party within thirty (30) days of such Ratings Event that meets or exceeds, or as to which any applicable credit support provider meets or exceeds, the Approved Ratings Thresholds (as defined below) on terms substantially similar to this Confirmation or (ii) deliver collateral, collateral acceptable in an a form and amount equal acceptable to the Exposure Standard and Poor's (as defined below"S&P"), Fitch Ratings ("Fitch") and Xxxxx'x Investors Service, Inc. ("Moody's"), an executed ISDA Credit Support Annex (reasonably satisfactory to the Counterparty and S&P, Fitch and Xxxxx'x), within thirty (30) days of such Ratings Event and subject to written confirmation from S&P's , Fitch and Moody's written confirmation that delivery of such collateral in the context of such downgrade will not result in a withdrawal, qualification or downgrade of the then current ratings assigned to the Certificates Certificates. For the avoidance of doubt, a downgrade of the rating on the Certificates certificates issued by the Chase Funding Trust, Series 2004-2 (the "Certificates") could occur in the event that Party A Cap Provider does not post sufficient collateral. For purposes of this Transaction, a "Ratings Event" shall occur with respect to Party A (or any applicable credit support provider), the Cap Provider if its short-long term unsecured and unsubordinated debt rating ceases to be rated at least "A-1A+" by S&P S&P, at least "A+" by Fitch Ratings and at least "P-1A1"

Rating Agency Downgrade. If a Ratings Event (as defined below) occurs with respect to Party A (or any applicable credit support provider), then Party A shall at its own expense, (i) assign this Transaction hereunder to a third party within (30) days of such Ratings Event that meets or exceeds, or as to which any applicable credit support provider meets or exceeds, the Approved Ratings Thresholds (as defined below) on terms substantially similar to this Confirmation or (ii) deliver collateral, in an amount equal to the Exposure (as defined below), and an executed ISDA Credit Support Annex within (30) days of such Ratings Event and subject to S&P's and Moody's written confirmation that delivery of such collateral in the context of such downgrade will not result in a withdrawal, qualification or downgrade of the then current ratings assigned to the Certificates Securities. For avoidance of doubt, a downgrade of the rating on the Certificates Securities could occur in the event that Party A does not post sufficient collateral. For purposes of this Transaction, a "Ratings Event" shall occur with respect to Party A (or any applicable credit support provider), if its short-term unsecured and unsubordinated debt ceases to be rated at least "A-1" by S&P and at least "P-1" by Moody's (including in connection with a merger, consolidation or other similar transaction by Party A or any applicable credit support provider) such ratings being referred to herein as the "Approved Ratings Thresholds," (unless, within 30 days thereafter, each of Moody's and S&P has reconfirmed the ratings of the Securities, as applicable, which was in effect immediately prior thereto. Only with respect to such Ratings Event, "

Rating Agency Downgrade. If a Ratings Event (as defined below) occurs with respect to Party A (or any applicable credit support provider), then Party A shall at its own expense, (i) assign this Transaction hereunder to a third party within (30) days of such Ratings Event that meets or exceeds, or as to which any applicable credit support provider meets or exceeds, the Approved Ratings Thresholds (as defined below) on terms substantially similar to this Confirmation or (ii) deliver collateral, in an amount equal to the Exposure (as defined below), and an executed ISDA Credit Support Annex within (30) days of such Ratings Event and subject to S&P's and Moody's written confirmation that delivery of such collateral in the context of such downgrade will not result in a withdrawal, qualification or downgrade of the then current ratings assigned to the Certificates . For avoidance of doubt, a downgrade of the rating on the Certificates could occur in the event that Party A does not post sufficient collateral. For purposes of this Transaction, a "Ratings Event" shall occur with respect to Party A (or any applicable credit support provider), if its short-term unsecured and unsubordinated debt ceases to be rated at least "A-1" by S&P and at least "P-1" by Moody's (including in connection with a merger, consolidatxxx xx other similar transaction by Party A or any applicable credit support provider) such ratings being referred to herein as the "Approved Ratings Thresholds," (unless, within 30 days thereafter, each of Moody's and S&P has reconfirmed the ratings of the Certificates, as applicable, which was in effect immediately prior thereto. Only with respect to such Ratings Event, "