Second Trigger Failure Condition. So long as a Second Trigger Failure Condition has occurred and is continuing, Party A shall use commercially reasonable efforts to, as soon as reasonably practicable, either (i) furnish an Eligible Guarantee of Party A’s obligations under this Agreement from a guarantor that satisfies the Hedge Counterparty Ratings Requirement, or (ii) transfer its obligations under this Agreement in accordance with Part 5(e) below.
Appears in 4 contracts
Samples: Master Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2006-He5), Master Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2007-He1), Master Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2007-He2)
Second Trigger Failure Condition. So long as a Second Trigger Failure Condition has occurred and is continuing, Party A shall use commercially reasonable efforts to, as soon as reasonably practicable, either (i) furnish an Eligible Guarantee of Party A’s 's obligations under this Agreement from a guarantor that satisfies the Hedge Counterparty Ratings Requirement, or (ii) transfer its obligations under this Agreement in accordance with Part 5(e) below.
Appears in 1 contract
Samples: Master Agreement (Long Beach Mortgage Loan Trust 2006-11)
