Common use of Trust Declaration of Designated Event Clause in Contracts

Trust Declaration of Designated Event. If the circumstances potentially giving rise to a Designated Event are those set forth in clause (a) of the definition of “Designated Event,” then the Trust shall elect to declare a Designated Event (i) if any one of the Events of Default under the Primary Swap Agreement with respect to the Primary Swap Counterparty as the Defaulting Party is the result of a breach by the Primary Swap Counterparty of Section 5(a)(i) of the Primary Swap Agreement or (ii) otherwise, if and only if, at the time of such election, the long-term unsecured debt obligations of the Contingent Swap Counterparty are rated at least “AA-” by S&P and at least “Aa3” by Moody’s.

Trust Declaration of Designated Event. If the circumstances potentially giving rise to a Designated Event are those set forth in clause (a) of the definition of “"Designated Event,” " then the Trust shall elect to declare a Designated Event (i) if any one of the Events of Default under the Primary Swap Agreement with respect to the Primary Swap Counterparty as the Defaulting Party is the result of a breach by the Primary Swap Counterparty of Section 5(a)(i) of the Primary Swap Agreement or (ii) otherwise, if and only if, at the time of such election, the long-term unsecured debt obligations of the Contingent Swap Counterparty are rated at least “"AA-” " by S&P and at least “"Aa3” " by Moody’s's.

Trust Declaration of Designated Event. If the circumstances potentially giving rise to a Designated Event are those set forth in clause (a) of the definition of “Designated Event,” then the Trust shall elect to declare a Designated Event (i) if any one of the Events of Default under the Primary Swap Agreement with respect to the Primary Swap Counterparty as the Defaulting Party is the result of a breach by the Primary Swap Counterparty of Section 5(a)(i) of the Primary Swap Agreement or (ii) otherwise, if and only if, at the time of such election, the long-term unsecured debt obligations of the Contingent Swap Counterparty are rated at least “AA-” by S&P and at least “Aa3” by Moody’s.S&P.

Trust Declaration of Designated Event. If the circumstances potentially giving rise to a Designated Event are those set forth in clause (a) of the definition of “Designated Event,” then the Trust shall elect to declare a Designated Event (i) if any one of the Events of Default under the Primary Swap Agreement with respect to the Primary Swap Counterparty as the Defaulting Party is the result of a breach by the Primary Swap Counterparty of Section 5(a)(i) of the Primary Swap Agreement or (ii) otherwise, if and only if, at the time of such election, the long-term unsecured debt obligations of the Contingent Swap Counterparty are rated at least “AA-” by S&P and at least “Aa3” by in the case of Moody’s.

Trust Declaration of Designated Event. If the circumstances potentially giving rise to a Designated Event are those set forth in clause (a) of the definition of “"Designated Event,” " then the Trust shall elect to declare a Designated Event (i) if any one of the Events of Default under the Primary Swap Agreement with respect to the Primary Swap Counterparty as the Defaulting Party is the result of a breach by the Primary Swap Counterparty of Section 5(a)(i) of the Primary Swap Agreement or (ii) otherwise, if and only if, at the time of such election, the long-term unsecured debt obligations of the Contingent Swap Counterparty are rated at least “"AA-” " by S&P and at least “Aa3” "AA-" by Moody’sFitch.