Common use of S&P Ratings Event Clause in Contracts

S&P Ratings Event. Party A fails to comply with the downgrade provisions as set forth in Part 5(b)(iii), after giving effect to the relevant time frame specified therein. With respect to the foregoing Additional Termination Event, Party A shall be the sole Affected Party and all Transactions shall be Affected Transactions.

Appears in 5 contracts

Samples: Master Agreement (Santander Drive Auto Receivables LLC), Master Agreement (Santander Drive Auto Receivables LLC), Master Agreement (Santander Drive Auto Receivables LLC)

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