Common use of Thresholds Clause in Contracts

Thresholds. (i) Independent Amount means, for Party A and Party B, with respect to each Transaction, zero. (ii) Threshold means, for Party A: infinity, unless (A) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and Party A has not taken Back to Contents alternative action as contemplated by paragraphs 7.1(b)(i), 7.1(b)(ii) or 7.1(b)(iii) of Part 5 of the Schedule to the Agreement or if paragraph 7.2(b) of Part 5 of the Schedule applies (S&P Threshold), (B) an Initial Fitch Rating Event, a First Subsequent Fitch Rating Event or a Second Subsequent Fitch Rating Event has occurred and is continuing and Party A has not taken alternative action as contemplated by paragraphs 7.5(ii), (iii), or (iv), or 7.6(b) of Part 5 of the Schedule to the Agreement or if paragraph 7.7(b) of Part 5 of the Schedule applies (Fitch Threshold) or (C) the Moody’s Threshold is zero, in which case the Threshold for Party A shall be zero; and Threshold means, for Party B: infinity Moody’s Threshold means, (A) so long as the First Rating Trigger Requirements apply and either (I) the First Rating Trigger Requirements have applied since this Annex was executed or (II) at least 30 Local Business days have elapsed since the last time the First Rating Trigger Requirements did not apply, zero and (B) at any other time, infinity. (iii) Minimum Transfer Amount means, with respect to Party A, and Party B, GBP 50,000; provided, that if (A) an Event of Default has occurred and is continuing in respect of which Party A or Party B is the Defaulting Party, or (B) an Additional Termination Event has occurred in respect of which Party A or Party B is an Affected Party, the Minimum Transfer Amount with respect to Party A or Party B, as applicable, shall be zero.

Thresholds. (i) Independent Amount means, for Party A and Party B, with respect to each Transaction, zero. (ii) Threshold means, for Party A: infinity, unless (A1) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and Party A has not taken Back to Contents alternative action as contemplated by paragraphs 7.1(b)(i), 7.1(b)(ii) or 7.1(b)(iii) of Part 5 of the Schedule to the Agreement or if paragraph 7.2(b) of Part 5 of the Schedule applies (S&P Threshold), (B2) an Initial Fitch Rating Event, a First Subsequent Fitch Rating Event or a Second Subsequent Fitch Rating Event has occurred and is continuing and Party A has not taken alternative action as contemplated by paragraphs 7.5(ii7.5(b), (iii), or (iv), or 7.6(b7.6(ii) of Part 5 of the Schedule to the Agreement or if paragraph 7.7(b) of Part 5 of the Schedule applies (Fitch Threshold) or (C3) the Moody’s Xxxxx’x Threshold is zero, in which case the Threshold for Party A shall be zero; and Threshold means, for Party B: infinity Moody’s Xxxxx’x Threshold means, (A) so long as the First Rating Trigger Requirements apply and either (Ii) the First Rating Trigger Requirements have applied since this Annex was executed or (IIii) at least 30 Local Business days have elapsed since the last time the First Rating Trigger Requirements did not apply, zero and (B) at any other time, infinity. (iii) Minimum Transfer Amount means, with respect to Party A, and Party B, GBP 50,000; provided, that if (A) an Event of Default has occurred and is continuing in respect of which Party A or Party B is the Defaulting Party, or (B) an Additional Termination Event has occurred in respect of which Party A or Party B is an Affected Party, the Minimum Transfer Amount with respect to Party A or Party B, as applicable, shall be zero.

Thresholds. (i) Independent Amount means, for Party A and Party B, with respect to each Transaction, zero. (ii) Threshold means, for Party A: infinity, unless (A) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and Party A has not taken Back to Contents alternative action as contemplated by paragraphs 7.1(b)(i), 7.1(b)(ii) or 7.1(b)(iii) of Part 5 of the Schedule to the Agreement or if paragraph 7.2(b) of Part 5 of the Schedule applies (S&P Threshold), (B) an Initial Fitch Rating Event, a First Subsequent Fitch Rating Event or a Second Subsequent Fitch Rating Event has occurred and is continuing and Party A has not taken alternative action as contemplated by paragraphs 7.5(ii), (iii), or (iv), or 7.6(b) of Part 5 of the Schedule to the Agreement or if paragraph 7.7(b) of Part 5 of the Schedule applies (Fitch Threshold) or (C) the Moody’s Xxxxx’x Threshold is zero, in which case the Threshold for Party A shall be zero; and Back to Contents Threshold means, for Party B: infinity Moody’s Xxxxx’x Threshold means, (A) so long as the First Rating Trigger Requirements apply and either (I) the First Rating Trigger Requirements have applied since this Annex was executed or (II) at least 30 Local Business days have elapsed since the last time the First Rating Trigger Requirements did not apply, zero and (B) at any other time, infinity. (iii) Minimum Transfer Amount means, with respect to Party A, and Party B, GBP 50,000; provided, that if (A) an Event of Default has occurred and is continuing in respect of which Party A or Party B is the Defaulting Party, or (B) an Additional Termination Event has occurred in respect of which Party A or Party B is an Affected Party, the Minimum Transfer Amount with respect to Party A or Party B, as applicable, shall be zero.

Thresholds. (i) Independent Amount means, for Party A and Party B, with respect to each Transaction, zero. (ii) Threshold means, for Party A: infinity, unless (A) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and Party A has not taken Back to Contents alternative action as contemplated by paragraphs 7.1(b)(i), 7.1(b)(ii) or 7.1(b)(iii) of Part 5 of the Schedule to the Agreement or if paragraph 7.2(b) of Part 5 of the Schedule applies (S&P Threshold), (B) an Initial Fitch Rating Event, a First Subsequent Fitch Rating Event or a Second Subsequent Fitch Rating Event has occurred and is continuing and Party A has not taken alternative action as contemplated by paragraphs 7.5(iiparagraphs7.5(ii), (iii), or (iv), or 7.6(b7.6(ii) of Part 5 of the Schedule to the Agreement or if paragraph 7.7(b7.7(ii) of Part 5 of the Schedule applies (Fitch Threshold) or (C) the Moody’s Xxxxx’x Threshold is zero, in which case the Threshold for Party A shall be zero; and Back to Contents Threshold means, for Party B: infinity Moody’s Xxxxx’x Threshold means, (A) so long as the First Rating Trigger Requirements apply and either (Ii) the First Rating Trigger Requirements have applied since this Annex was executed or (IIii) at least 30 Local Business days have elapsed since the last time the First Rating Trigger Requirements did not apply, zero and (B) at any other time, infinity. (iii) Minimum Transfer Amount means, with respect to Party A, and Party B, GBP 50,000; provided, that if (A) an Event of Default has occurred and is continuing in respect of which Party A or Party B is the Defaulting Party, or (B) an Additional Termination Event has occurred in respect of which Party A or Party B is an Affected Party, the Minimum Transfer Amount with respect to Party A or Party B, as applicable, shall be zero.

Thresholds. (i) Independent Amount means, for Party A and Party B, with respect to each Transaction, zero. (ii) Threshold means, for Party A: infinity, unless (A1) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and Party A has not taken Back to Contents alternative action as contemplated by paragraphs 7.1(b)(i), 7.1(b)(ii) or 7.1(b)(iii) of Part 5 of the Schedule to the Agreement or if paragraph 7.2(b) of Part 5 of the Schedule applies (S&P Threshold), (B2) an Initial Fitch Rating Event, a First Subsequent Fitch Rating Event or a Second Subsequent Fitch Rating Event has occurred and is continuing and Party A has not taken alternative action as contemplated by paragraphs 7.5(iiparagraphs7.5(b)(ii), (iii), or (iv), or 7.6(b7.2(b) of Part 5 of the Schedule to the Agreement or if paragraph 7.7(b) of Part 5 of the Schedule applies (Fitch Threshold) or (C3) the Moody’s Xxxxx’x Threshold is zero, in which case the Threshold for Party A shall be zero; and Back to Contents Threshold means, for Party B: infinity Moody’s Xxxxx’x Threshold means, (A) so long as the First Rating Trigger Requirements apply and either (Ii) the First Rating Trigger Requirements have applied since this Annex was executed or (IIii) at least 30 Local Business days have elapsed since the last time the First Rating Trigger Requirements did not apply, zero and (B) at any other time, infinity. (iii) Minimum Transfer Amount means, with respect to Party A, and Party B, GBP 50,000; provided, that if (A1) an Event of Default has occurred and is continuing in respect of which Party A or Party B is the Defaulting Party, or (B2) an Additional Termination Event has occurred in respect of which Party A or Party B is an Affected Party, the Minimum Transfer Amount with respect to Party A or Party B, as applicable, shall be zero.

Thresholds. (i) Independent Amount means, for Party A and Party B, with respect to each Transaction, zero. (ii) Threshold means, for Party A: infinity, unless (A1) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and Party A has not taken Back to Contents alternative action as contemplated by paragraphs 7.1(b)(i), 7.1(b)(ii) or 7.1(b)(iii) of Part 5 of the Schedule to the Agreement or if paragraph 7.2(b) of Part 5 of the Schedule applies (S&P Threshold), (B2) an Initial Fitch Rating Event, a First Subsequent Fitch Rating Event or a Second Subsequent Fitch Rating Event has occurred and is continuing and Party A has not taken alternative action as contemplated by paragraphs 7.5(ii7.5(b), (iii), or (iv), or 7.6(b) of Part 5 of the Schedule to the Agreement or if paragraph 7.7(b) of Part 5 of the Schedule Back to Contents applies (Fitch Threshold) or (C3) the Moody’s Xxxxx’x Threshold is zero, in which case the Threshold for Party A shall be zero; and Threshold means, for Party B: infinity Moody’s Xxxxx’x Threshold means, (A) so long as the First Rating Trigger Requirements apply and either (Ii) the First Rating Trigger Requirements have applied since this Annex was executed or (IIii) at least 30 Local Business days have elapsed since the last time the First Rating Trigger Requirements did not apply, zero and (B) at any other time, infinity. (iii) Minimum Transfer Amount means, with respect to Party A, and Party B, GBP 50,000; provided, that if (A1) an Event of Default has occurred and is continuing in respect of which Party A or Party B is the Defaulting Party, or (B2) an Additional Termination Event has occurred in respect of which Party A or Party B is an Affected Party, the Minimum Transfer Amount with respect to Party A or Party B, as applicable, shall be zero.

Thresholds. Back to Contents (i) Independent Amount means, for Party A and Party B, with respect to each Transaction, zero. (ii) Threshold means, for Party A: infinity, unless (A) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and Party A has not taken Back to Contents alternative action as contemplated by paragraphs 7.1(b)(i), 7.1(b)(ii) or 7.1(b)(iii) of Part 5 of the Schedule to the Agreement or if paragraph 7.2(b) of Part 5 of the Schedule applies (S&P Threshold), (B) an Initial Fitch Rating Event, a First Subsequent Fitch Rating Event or a Second Subsequent Fitch Rating Event has occurred and is continuing and Party A has not taken alternative action as contemplated by paragraphs 7.5(ii), (iii), or (iv), or 7.6(b7.6(ii) of Part 5 of the Schedule to the Agreement or if paragraph 7.7(b7.7(ii) of Part 5 of the Schedule applies (Fitch Threshold) or (C) the Moody’s Xxxxx’x Threshold is zero, in which case the Threshold for Party A shall be zero; and Threshold means, for Party B: infinity Moody’s Xxxxx’x Threshold means, (A) so long as the First Rating Trigger Requirements apply and either (I) the First Rating Trigger Requirements have applied since this Annex was executed or (II) at least 30 Local Business days have elapsed since the last time the First Rating Trigger Requirements did not apply, zero and (B) at any other time, infinity. (iii) Minimum Transfer Amount means, with respect to Party A, and Party B, GBP 50,000; provided, that if (A) an Event of Default has occurred and is continuing in respect of which Party A or Party B is the Defaulting Party, or (B) an Additional Termination Event has occurred in respect of which Party A or Party B is an Affected Party, the Minimum Transfer Amount with respect to Party A or Party B, as applicable, shall be zero.

Thresholds. (i) Independent Amount means, for Party A and Party B, with respect to each Transaction, zero. (ii) Threshold means, for Party A: infinity, unless (A1) an Initial S&P Rating Event or a Subsequent S&P Rating Event has occurred and is continuing and Party A has not taken Back to Contents alternative action as contemplated by paragraphs 7.1(b)(i7.1(b), 7.1(b)(ii) or 7.1(b)(iii) of Part 5 of the Schedule to the Agreement or if paragraph 7.2(b) of 7.5(b)(ii) Part 5 of the Schedule applies (S&P Threshold), (B2) an Initial Fitch Rating Event, a First Subsequent Fitch Rating Event or a Second Subsequent Fitch Rating Event has occurred and is continuing and Party A has not taken alternative action as contemplated by paragraphs 7.5(ii), (iii), or (iv), or 7.6(b7.6(ii) of Part 5 of the Schedule to the Agreement or if paragraph 7.7(b7.7(ii) of Part 5 of the Schedule applies (Fitch Threshold) or (C3) the Moody’s Xxxxx’x Threshold is zero, in which case the Threshold for Party A shall be zero; and Threshold means, for Party B: infinity Moody’s Xxxxx’x Threshold means, (A) so long as the First Rating Trigger Requirements apply and either (Ii) the First Rating Trigger Requirements have applied since this Annex was executed or (IIii) at least 30 Local Business days have elapsed since the last time the First Rating Trigger Requirements did not apply, zero and (B) at any other time, infinity. (iii) Minimum Transfer Amount means, with respect to Party A, and Party B, GBP 50,000; provided, that if (A1) an Event of Default has occurred and is continuing in respect of which Party A or Party B is the Defaulting Party, or (B2) an Additional Termination Event has occurred in respect of which Party A or Party B is an Affected Party, the Minimum Transfer Amount with respect to Party A or Party B, as applicable, shall be zero.