Common use of Xxxxx’x Second Rating Trigger Event Clause in Contracts

Xxxxx’x Second Rating Trigger Event. (A) A Xxxxx’x Second Rating Trigger Event (as defined in Part 5(i)) has occurred and been continuing for 30 or more Local Business Days and (B) (i) at least one Eligible Replacement (as defined in Part 5(i)) has made a Firm Offer to be the transferee of a transfer to be made in accordance with Part 5(i)(iii) below and/or (ii) at least one entity with the Acceptable Ratings (as defined in Part 5(i)) has made a Firm Offer to provide an Eligible Guarantee in respect of all of Party A’s present and future obligations under this Agreement. For purposes of this Additional Termination Event, Party A shall be the sole Affected Party.

Appears in 2 contracts

Samples: Master Agreement (HarborView 2007-5), Master Agreement (HarborView 2007-5)

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Xxxxx’x Second Rating Trigger Event. (A) A Xxxxx’x Second Rating Trigger Event (as defined in Part 5(i)) with respect to Xxxxx’x has occurred occurred, and been continuing for 30 or more Local Business Days have elapsed and (B) (i) at least one Eligible Replacement (as defined in Part 5(i5(g)) has made a Firm Offer to be the transferee of a transfer to be made in accordance with Part 5(i)(iii5(g)(iii) below and/or (ii) at least one entity with the Acceptable Ratings (as defined in Part 5(i5(g)) has made a Firm Offer to provide an Eligible Guarantee in respect of all of Party A’s present and future obligations under this Agreement. For purposes of this Additional Termination Event, Party A shall be the sole Affected Party.

Appears in 2 contracts

Samples: Master Agreement (HarborView 2007-3), Master Agreement (HarborView 2007-1)

Xxxxx’x Second Rating Trigger Event. (A) A Xxxxx’x Second Rating Trigger Event (as defined in Part 5(i)) with respect to Xxxxx'x has occurred occurred, and been continuing for 30 or more Local Business Days have elapsed and (B) (i) at least one Eligible Replacement (as defined in Part 5(i5(j)) has made a Firm Offer to be the transferee of a transfer to be made in accordance with Part 5(i)(iii5(j)(iii) below and/or (ii) at least one entity with the Acceptable Ratings (as defined in Part 5(i5(j)) has made a Firm Offer to provide an Eligible Guarantee in respect of all of Party A’s 's present and future obligations under this Agreement. For purposes of this Additional Termination Event, Party A shall be the sole Affected Party.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-He6), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2007-Ffa)

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Xxxxx’x Second Rating Trigger Event. (A) A Xxxxx’x Second Rating Trigger Event (as defined in Part 5(i)) with respect to Xxxxx’x has occurred occurred, and been continuing for 30 or more Local Business Days have elapsed and (B) (i) at least one Eligible Replacement (as defined in Part 5(i)) has made a Firm Offer to be the transferee of a transfer to be made in accordance with Part 5(i)(iii) below and/or (ii) at least one entity with the Acceptable Ratings (as defined in Part 5(i)) has made a Firm Offer to provide an Eligible Guarantee in respect of all of Party A’s present and future obligations under this Agreement. For purposes of this Additional Termination Event, Party A shall be the sole Affected Party.

Appears in 1 contract

Samples: Master Agreement (Thornburg Mortgage Securities Trust 2007-1)

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