Subsequent Fitch Rating Event. In the event that neither Party A (or its successor or assignee) nor any Credit Support Provider from time to time in respect of Party A has a short-term IDR, a long-term IDR, or, if assigned, a DCR at least as high as the corresponding Supported Minimum Counterparty Ratings (a "Subsequent Fitch Rating Event") then Party A will:
(A) at its own cost and expense, use its reasonable endeavours to take any of the actions set out in subparagraphs (i)(B)(1), (i)(B)(2) or (i)(B)(3) of this Part 5(g) (Ratings Event) within 30 calendar days of the occurrence of such Subsequent Fitch Rating Event; and
(B) pending taking any of the actions set out in subparagraphs (i)(B)(1), (i)(B)(2) or (i)(B)(3) of this Part 5(g) (Ratings Event), Party A will, at its own cost and expense, within ten calendar days of the occurrence of the Subsequent Fitch Rating Event post collateral to the extent required to do so in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex.
Subsequent Fitch Rating Event. In the event that the Long-Term Fitch Rating and the short-term IDR of Party A (or its successor or assignee) and any Credit Support Provider (that is a Fitch Eligible Guarantor) from time to time in respect of Party A cease to be rated at least as high as the corresponding Supported Minimum Counterparty Rating (such event being a "Subsequent Fitch Rating Event"):
(a) Party A will on a reasonable efforts basis within the Fitch Non-Collateral Remedy Period, at its own cost, attempt to take any of the measures set out in sub-paragraphs (II)(b)(i), (II)(b)(ii) or (II)(b)(iii) of this Part 5(d); and
(b) pending taking any of the measures set out in sub-paragraphs (II)(b)(i), (II)(b)(ii) or (II)(b)(iii) of this Part 5(d) above, Party A will within the Fitch Collateral Remedy Period and at its own cost, in accordance with this Agreement, post collateral in accordance with the provisions of the Credit Support Annex. If any of sub-paragraphs (II)(b)(i), (II)(b)(ii) or (II)(b)(iii) of this Part 5(d) are satisfied at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to sub-paragraph (III)(b) above will, unless otherwise required by virtue of the operation of sub-paragraph (II)(b)(iii) of this Part 5(d), be transferred to Party A subject to, and in accordance with, the terms of the Credit Support Annex, and, for so long as no other Subsequent Fitch Rating Event occurs, Party A will not be required to transfer any additional collateral pursuant to this Part 5(d)(III).
Subsequent Fitch Rating Event. A Subsequent Fitch Rating Event has commenced and is continuing and:
(1) Party A fails to comply with Part 6(a)(1)(ii)(B)(1) and has not implemented at least one of the remedies described in Part 6(a)(1)(ii)(B)(2) within the Subsequent Fitch Collateral Remedy Period; or
(2) Party A fails to implement at least one of the remedies described in Part 6(a)(1)(ii)(B)(2) within the Subsequent Fitch Remedy Period.
Subsequent Fitch Rating Event. In the event that no Relevant Entity has the Subsequent Fitch Required Rating (such circumstance a “Subsequent Fitch Rating Event”), then:
(1) Party A shall, within the Subsequent Fitch Collateral Remedy Period, at its own cost, transfer collateral in accordance with and to the extent required by the Credit Support Annex; and
(2) Party A shall, within the Subsequent Fitch Remedy Period use commercially reasonable efforts to, at its own cost:
(a) subject to Part 6(b)(i) (Transfers by Party A) below, transfer all of its rights and obligations with respect to this Agreement to a Fitch Eligible Counterparty; or
(b) procure a Fitch Eligible Counterparty to become a co-obligor or guarantor in respect of the obligations of Party A under this Agreement pursuant to a Fitch Compliant Guarantee; or
(c) take such other action (which may include no action) which will result in the ratings assigned by Fitch to the Notes being maintained at, or restored to, the level at which the Notes were rated immediately prior to the date on which the relevant Subsequent Fitch Rating Event commenced,
Subsequent Fitch Rating Event. If, following a Subsequent Fitch Rating Event, Party A has provided collateral under the Credit Support Annex pursuant to Part 5(e)(iii)(A) above and fails to continue to post collateral pending compliance with Part 5(e)(iv)(A) above, such failure will not be or give rise to an Event of Default but will constitute an Additional Termination Event with respect to Party A and will be deemed to have occurred on the later of the next Local Business Day after the fourteenth calendar day following such Subsequent Fitch Rating Event and the next Business Day after the thirtieth calendar day following any prior Initial Fitch Rating Event with Party A as the sole Affected Party and all Transactions as Affected Transactions. Further, it will constitute an Additional Termination Event with respect to Party A, even if Party A continues to post collateral as required by Part 5(e)(iv)(B) above, and notwithstanding Section 5(a)(ii), Party A does not take the measures described in Part 5(e)(iv)(A) above (and regardless of whether reasonable endeavours have been used to implement any of those measures). Such Additional Termination Event will be deemed to have occurred on the next Local Business Day after the thirtieth calendar day following the Subsequent Fitch Rating Event with Party A as the sole Affected Party and all Transactions as Affected Transactions.
Subsequent Fitch Rating Event. If:
(a) the long-term IDR of Party A (or its successor or permitted transferee) and each Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "BBB -" (or its equivalent) by Fitch; or
(b) the short-term IDR of Party A (or its successor or permitted transferee) and each Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "F3" (or its equivalent) by Fitch (each of (a) and (b) a Subsequent Fitch Rating Event), Party A will:
Subsequent Fitch Rating Event. In the event that neither Party A (nor its successor nor permitted assignee) nor any Credit Support Provider from time to time in respect of Party A has the Supported Minimum Counterparty Ratings (such event being "Subsequent Fitch Rating Event") then Party A will:
(A) at its own expense, use reasonable endeavours to take any of the actions set out in Part 5(e)(iii)(B) above within 30 calendar days of the occurrence of such Subsequent Fitch Rating Event; and
(B) pending taking any of the actions set out in Part 5(e)(iii)(B) above, Party A will at its own cost and expense, within 14 calendar days of the occurrence of such Subsequent Fitch Rating Event, post collateral in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex.
Subsequent Fitch Rating Event. In the event that the long-term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "BBB-" (or its equivalent) by Fitch or the short- term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "F3" (or its equivalent) by Fitch (each a "Subsequent Fitch Rating Event") then Party A will:
(A) at its own cost and expense, use reasonable endeavours to take any of the actions set out in subparagraphs (ii)(B)(I), (ii)(B)(II) or (ii)(B)(III) of this Part 5(g) within 30 calendar days of (but excluding) the occurrence of such Subsequent Fitch Rating Event; and
(B) pending taking any of the actions set out in subparagraphs (ii)(B)(I), (ii)(B)(II) or (ii)(B)(III) of this Part 5(g), Party A will, at its own cost and expense, within 14 calendar days of (but excluding) the occurrence of the Subsequent Fitch Rating Event post collateral in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex.
Subsequent Fitch Rating Event. In the event that either (x) neither Party A (or its successor or assignee) nor any Credit Support Provider from time to time in respect of Party A has a long-term IDR at least as high as "BBB-" (or its equivalent) by Fitch or (y) neither Party A (or its successor or assignee) nor any Credit Support Provider from time to time in respect of Party A has a short-term IDR at least as high as "F3" (or its equivalent) by Fitch (each of (x) and (y) a "Subsequent Fitch Rating Event") then Party A will:
(A) at its own cost and expense, use its reasonable endeavours to take any of the actions set out in subparagraphs (i)(B)(1), (i)(B)(2) or (i)(B)(3) of this Part 5(g) (Ratings Event) within 30 calendar days of the occurrence of such Subsequent Fitch Rating Event; and
(B) pending taking any of the actions set out in subparagraphs (i)(B)(1), (i)(B)(2) or (i)(B)(3) of this Part 5(g) (Ratings Event), Party A will, at its own cost and expense, within ten days of the occurrence of the Subsequent Fitch Rating Event post collateral to the extent required to do so in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex.
Subsequent Fitch Rating Event. If a Subsequent Fitch Rating Event occurs then Party A will:
(A) at its own expense, use reasonable endeavours to take any of the actions set out in Part 5(e)(iii)(B) above within 60 calendar days (if the Fitch Highly Rated Thresholds apply) or 30 calendar days (if the Fitch Highly Rated Thresholds do not apply) of the occurrence of such Subsequent Fitch Rating Event; and
(B) pending taking any of the actions set out in Part 5(e)(iii)(B) above, Party A will at its own cost and expense, within 60 calendar days (if the Fitch Highly Rated Thresholds apply) or 14 calendar days (if the Fitch Highly Rated Thresholds do not apply) of the occurrence of such Subsequent Fitch Rating Event, post collateral in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex.
