Common use of Second Rating Trigger Replacement Clause in Contracts

Second Rating Trigger Replacement. The occurrence of any event described in this Part 5(c)(ii) shall constitute an Additional Termination Event with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event. (A) A Xxxxx’x Second Trigger Downgrade Event has occurred and been continuing for 30 or more Local Business Days and 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 1(f) (Payments on Early Termination) apply) and which remains capable of becoming legally binding upon acceptance. (B) An S&P Required Ratings Downgrade Event has occurred and been continuing for 60 or more calendar days. (C) A Fitch Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days. (D) A DBRS Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days.

Second Rating Trigger Replacement. The occurrence of any event described in this Part 5(c)(ii) shall constitute an Additional Termination Event with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event. (A) A Xxxxx’x Moody's Second Trigger Downgrade Event has occurred and been continuing for 30 or more Local Business Days and 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 1(f) (Payments on Early Termination) apply) and which remains capable of becoming legally binding upon acceptance. (B) An S&P Required Ratings Downgrade Event has occurred and been continuing for 60 or more calendar days. (C) A Fitch Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days. (D) A DBRS Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days.

Second Rating Trigger Replacement. The occurrence of any event described in this Part 5(c)(ii) shall constitute an Additional Termination Event with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event. (A) A Xxxxx’x [Rating Agency 1] Second Trigger Downgrade Event has occurred and been continuing for 30 or more Local Business Days and 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 1(f) (Payments on Early Termination) apply) and which remains capable of becoming legally binding upon acceptance. (B) An S&P [Rating Agency 2] Required Ratings Downgrade Event has occurred and been continuing for 60 or more calendar days. (C) A Fitch [Rating Agency 3] Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days. (D) A DBRS Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days.

Second Rating Trigger Replacement. The occurrence of any event described in this Part 5(c)(ii) shall constitute an Additional Termination Event with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event. (A) A Xxxxx’x Second Trigger Downgrade Event has occurred and been continuing for 30 or more Local Business Days and 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 1(f) (Payments on Early Termination) apply) and which remains capable of becoming legally binding upon acceptance. (B) An S&P Required Ratings Downgrade Event has occurred and been continuing for 60 or more calendar days. (C) A Fitch Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days. (D) A DBRS Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days.

Second Rating Trigger Replacement. The occurrence of any event described in this Part 5(c)(ii) shall constitute an Additional Termination Event with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event. (A) A Xxxxx’x Moody's Second Trigger Downgrade Event has occurred and been continuing for 30 or more Local Business Days and 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 1(f) (Payments on Early Termination) apply) and which remains capable of becoming legally binding upon acceptance. (B) An S&P Required Ratings Downgrade Event has occurred and been continuing for 60 or more calendar days. (C) A Fitch Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days. (D) A DBRS Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days.

Second Rating Trigger Replacement. The occurrence of any event described in this Part 5(c)(ii) shall constitute an Additional Termination Event with respect to Party A and Party A shall be the sole Affected Party with respect to such Additional Termination Event. (A) A Xxxxx’x Mxxxx’x Second Trigger Downgrade Event has occurred and been continuing for 30 or more Local Business Days and 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 1(f) (Payments on Early Termination) apply) and which remains capable of becoming legally binding upon acceptance. (B) An S&P Required Ratings Downgrade Event has occurred and been continuing for 60 or more calendar days. (C) A Fitch Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days. (D) A DBRS Required Ratings Downgrade Event has occurred and been continuing for 30 or more calendar days.