Common use of Ratings Event Clause in Contracts

Ratings Event. If a Ratings Event (as defined below) occurs with respect to BSFP, then BSFP shall, at is own expense, (i) subject to the Rating Agency Condition (as defined below), 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), (ii) deliver collateral, and an executed ISDA Credit Support Annex, within thirty (30) days of such Ratings Event and subject to each of Standard and Poor's Ratings Services, Inc. ("S&P's") and Xxxxx'x Investors Service, Inc. ("Moody's" and together with S&P, the "Rating Agencies") 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, (iii) within thirty (30) days of such Ratings Event, obtain a guaranty subject to the Rating Agency Condition, of another person with the Approved Rating Thresholds, to honor, BSFP's obligations under this Agreement, or (iv) take any other action that satisfies the Rating Agency Condition within thirty (30) days of such Ratings Event.

Ratings Event. If a Ratings Event (as defined below) occurs with respect to BSFP, then BSFP shall, at is own expense, (i) subject to the Rating Agency Condition (as defined below), 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), (ii) deliver collateral, and an executed ISDA Credit Support Annex, within thirty (30) days of such Ratings Event and subject to each of Standard and Poor's Ratings Services, Inc. ("S&P's") and Xxxxx'x Investors Service, Inc. ("Moody's" and together with S&P, the "Rating Agencies") 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, or (iii) within thirty (30) days of such Ratings Event, obtain a guaranty subject to the Rating Agency Condition, of another person with the Approved Rating Thresholds, to honor, BSFP's obligations under this Agreement, or (iv) take any other action that satisfies the Rating Agency Condition within thirty (30) days Condition. For the avoidance of such Ratings Event.doubt, a downgrade of the rating on the Certificates could occur in the event that BSFP does not post sufficient collateral. For purposes of this

Ratings Event. If a Ratings Event (as defined below) occurs with respect to BSFP, then BSFP shall, at is own expense, (i) subject to the Rating Agency Condition (as defined below), 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), (ii) deliver collateral, and an executed ISDA Credit Support Annex, within thirty (30) days of such Ratings Event and subject to each of Standard and Poor's Ratings Services, Inc. ("S&P's") and Xxxxx'x Investors Service, Inc. ("Moody's" and together with S&P, the "Rating Agencies") 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, or (iii) within thirty (30) days of such Ratings Event, obtain a guaranty subject to the Rating Agency Condition, of another person with the Approved Rating Thresholds, to honor, BSFP's obligations under this Agreement, or (iv) take any other action that satisfies the Rating Agency Condition within thirty (30) days Condition. For the avoidance of such Ratings Event.doubt, a downgrade of the rating on the Certificates could occur in the event that BSFP does not post sufficient collateral. For purposes of this Transaction, a "RATINGS EVENT" shall occur with respect to BSFP, if its long-

Ratings Event. If a Ratings Event (as defined below) occurs with respect to BSFP, then BSFP shall, at is own expense, (i) subject to the Rating Agency Condition (as defined below), 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), ) or (ii) deliver collateral, and an executed ISDA Credit Support Annex, within thirty (30) days of such Ratings Event and subject to each of Standard S&P's and PoorMoody's Ratings Services, Inc. ("S&P's") and Xxxxx'x Investors Service, Inc. ("Moody's" and together with S&P, the "Rating Agencies") written confirmation that delivery of such collateral in the context xxx xxxtext of such downgrade will not result in a withdrawal, qualification or downgrade of the then current ratings assigned to the CertificatesNotes. For the avoidance of doubt, a downgrade of the rating on the Notes could occur in the event that BSFP does not post sufficient collateral. For purposes of this Transaction, a "Ratings Event" shall occur with respect to BSFP, if its counterparty credit rating ceases to be rated at least "AA-" by S&P, and at least "Aa3" by Moody's Reference Number: LaSalle Bank, National Association, as Trxxxxx xor Merrill Lynch Mortgage Investors, Inc., Series 2006-RM1 March 21, 2006 Xxxx 01 xx 04 (including in connection with a merger, consolidation or other similar transaction by BSFP) such ratings being referred to herein as the "Approved Ratings Thresholds", (iii) unless, within thirty (30) 30 days after such withdrawal or downgrade, each of Moody's and S&P has reconfirmed the rating of the Notes, as applixxxxx, which was in effect immediately prior to such Ratings Event, obtain a guaranty subject to the Rating Agency Condition, of another person with the Approved Rating Thresholds, to honor, BSFP's obligations under this Agreement, withdrawal or (iv) take any other action that satisfies the Rating Agency Condition within thirty (30) days of such Ratings Eventdowngrade.

Ratings Event. If a Ratings Event (as defined below) occurs with respect to BSFP, then BSFP shall, at is own expense, (i) subject to the Rating Agency Condition (as defined below), 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), (ii) deliver collateral, and an executed ISDA Credit Support Annex, within thirty (30) days of such Ratings Event and subject to each of Standard and Poor's Ratings Services, Inc. ("S&P's") and Xxxxx'x Investors Service, Inc. ("Moody's" and together with S&P, the "Rating Agencies") 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, or (iii) within thirty (30) days of such Ratings Event, obtain a guaranty subject to the Rating Agency Condition, of another person with the Approved Rating Thresholds, to honor, BSFP's obligations under this Agreement, or (iv) take any other action that satisfies the Rating Agency Condition within thirty Condition. For the avoidance of doubt, a downgrade of the rating on the Certificates could occur in the event that BSFP does not post sufficient collateral. For purposes of this Transaction, a "RATINGS EVENT" shall occur with respect to BSFP, if its long-term unsecured and unsubordinated debt rating ceases to be rated at least "AA-" by S&P, and at least "Aa3" by Moody's (30including in connection with a merger, consolidation or other similar transaction by BSFP) days of such Ratings Event.ratings

Ratings Event. If a Ratings Event (as defined below) occurs with respect to BSFP, then BSFP shall, at is own expense, (i) subject to the Rating Agency Condition (as defined below), 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), (ii) deliver collateral, and an executed ISDA Credit Support Annex, within thirty (30) days of such Ratings Event and subject to each of Standard and Poor's Ratings Services, Inc. ("S&P's") and Xxxxx'x Investors Service, Inc. ("Moody's" and together with S&P, the "Rating Agencies") 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, or (iii) within thirty (30) days of such Ratings Event, obtain a guaranty subject to the Rating Agency Condition, of another person with the Approved Rating Thresholds, to honor, BSFP's obligations under this Agreement, or (iv) take any other action that satisfies the Rating Agency Condition Condition. For the avoidance of doubt, a downgrade of the rating on the Certificates could occur in the event that BSFP does not post sufficient collateral. For purposes of this Transaction, a "RATINGS EVENT" shall occur with respect to BSFP, if its long-term unsecured and unsubordinated debt rating ceases to be rated at least "AA-" by S&P, and at least "Aa3" by Moody's (including in connection with a merger, consolidation or other similar transaction by BSFP) such ratings being referred to herein as the "APPROVED RATINGS THRESHOLDS", (unless, within thirty (30) 30 days after such withdrawal or downgrade, each of such Ratings Event.Moody's and S&P has reconfirmed the rating of the Certificates, as

Ratings Event. If a Ratings Event (as defined below) occurs with respect to BSFP, then BSFP shall, at is own expense, (i) subject to the Rating Agency Condition (as defined below), 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), ) or (ii) deliver collateral, and an executed ISDA Credit Support Annex, within thirty (30) days of such Ratings Event and subject to each of Standard S&P's and PoorMoody's Ratings Services, Inc. ("S&P's") and Xxxxx'x Investors Service, Inc. ("Moody's" and together with S&P, the "Rating Agencies") 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 CertificatesNotes. For the avoidance of doubt, a downgrade of the rating on the Notes could occur in the event that BSFP does not post sufficient collateral. For purposes of this Transaction, a "RATINGS EVENT" shall occur with respect to BSFP, if its counterparty credit rating ceases to be rated at least "AA-" by S&P, and at least "Aa3" by Moody's (including in connection with a merger, consolidation or other similar transaction by BSFP) such ratings being referred to herein as the "Approved Ratings Thresholds", (iii) unless, within thirty (30) 30 days after such withdrawal or downgrade, each of Moody's and S&P has reconfirmed the rating of the Notes, as applicable, which was in effect immediately prior to such Ratings Event, obtain a guaranty subject to the Rating Agency Condition, of another person with the Approved Rating Thresholds, to honor, BSFP's obligations under this Agreement, withdrawal or (iv) take any other action that satisfies the Rating Agency Condition within thirty (30) days of such Ratings Eventdowngrade.

Ratings Event. If a Ratings Event (as defined below) occurs with respect to BSFP, then BSFP shall, at is own expense, (i) subject to the Rating Agency Condition (as defined below), 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), (ii) deliver collateral, and an executed ISDA Credit Support Annex, within thirty (30) days of such Ratings Event and subject to each of Standard and Poor's Ratings Services, Inc. ("S&P's") and Xxxxx'x Investors Service, Inc. ("Moody's" and together with S&P, the "Rating Agencies") 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, or (iii) within thirty (30) days of such Ratings Event, obtain a guaranty subject to the Rating Agency Condition, of another person with the Approved Rating Thresholds, to honor, BSFP's obligations under this Agreement, or (iv) take any other action that satisfies the Rating Agency Condition within thirty (30) days Condition. For the avoidance of such Ratings Event.doubt, a downgrade of the rating on the Certificates could occur in the event that BSFP does not post sufficient collateral. For purposes of this Transaction, a "RATINGS EVENT" shall occur with respect to BSFP, if its long-term unsecured and unsubordinated debt rating ceases to be rated at least "AA-" by S&P, and at

Ratings Event. If a Ratings Event (as defined below) occurs with respect to BSFP, then BSFP shall, at is own expense, (i) subject to the Rating Agency Condition (as defined below), 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), ) or (ii) deliver collateral, and an executed ISDA Credit Support Annex, within thirty (30) days of such Ratings Event and subject to each of Standard S&P's and PoorMoody's Ratings Services, Inc. ("S&P's") and Xxxxx'x Investors Service, Inc. ("Moody's" and together with S&P, the "Rating Agencies") written confirmation that delivery of Reference Number: LaSxxxx Xxnk, National Association, as Trustee for Merrill Lynch Mortgage Investors, Inc., Series 2006-RM1 March 21, 2006 Xxxx 01 xx 04 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 CertificatesNotes. For the avoidance of doubt, a downgrade of the rating on the Notes could occur in the event that BSFP does not post sufficient collateral. For purposes of this Transaction, a "RATINGS EVENT" shall occur with respect to BSFP, if its counterparty credit rating ceases to be rated at least "AA-" by S&P, and at least "Aa3" by Moody's (including in connection with a merger, consolidation or other xxxxxxr transaction by BSFP) such ratings being referred to herein as the "Approved Ratings Thresholds", (iii) unless, within thirty (30) 30 days after such withdrawal or downgrade, each of Moody's and S&P has reconfirmed the rating of the Notes, as applicable, xxxxx was in effect immediately prior to such Ratings Event, obtain a guaranty subject to the Rating Agency Condition, of another person with the Approved Rating Thresholds, to honor, BSFP's obligations under this Agreement, withdrawal or (iv) take any other action that satisfies the Rating Agency Condition within thirty (30) days of such Ratings Eventdowngrade.