Common use of First Subsequent Fitch Rating Event Clause in Contracts

First Subsequent Fitch Rating Event. If: (A) the long-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "BBB+" (or its equivalent) by Fitch; or (B) the rating of the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "F2" (or its equivalent) by Fitch (each a FIRST SUBSEQUENT FITCH RATING EVENT), Party A will at its own cost and expense use its best endeavours to: (1) provide collateral under the Credit Support Annex within 10 days of such First Subsequent Fitch Rating Event (provided that the mark-to-market calculations and the correct and t▇▇▇▇y posting of collateral thereunder are verified by an independent third party (with the costs of such independent verification being borne by Party A)); or (2) take any of the actions set out in subparagraphs 7.5(ii), 7.5(iii) or 7.5(iv) above within 30 days of the occurrence of such First Subsequent Fitch Rating Event. If any of the actions set out in subparagraph 7.6(ii) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.5(i) or subparagraph 7.6(i) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such First Subsequent Fitch Rating Event.

First Subsequent Fitch Rating Event. If: (Aa) the long-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "“BBB+" ” (or its equivalent) by Fitch; or (Bb) the rating of the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "“F2" ” (or its equivalent) by Fitch (each a FIRST SUBSEQUENT FITCH RATING EVENTFirst Subsequent Fitch Rating Event), Party A will at its own cost and expense use its best endeavours to: (1i) provide collateral under the Credit Support Annex within 10 30 days of such First Subsequent Fitch Rating Event (provided that in accordance with Paragraph 11.8(g) of the mark-to-market calculations and the correct and t▇▇▇▇y posting of collateral thereunder are verified by an independent third party (with the costs of such independent verification being borne by Party A))Credit Support Annex) ; or (2ii) take any of the actions set out in subparagraphs 7.5(ii), 7.5(iii) or 7.5(iv) above within 30 days of the occurrence of such First Subsequent Fitch Rating Event. Back to Contents If any of the actions set out in subparagraph 7.6(ii) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.5(i) or subparagraph 7.6(i) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such First Subsequent Fitch Rating Event.

First Subsequent Fitch Rating Event. If: (Ai) the long-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "BBB+" (or its equivalent) by Fitch; or (Bii) the rating of the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "F2" (or its equivalent) by Fitch (each a FIRST SUBSEQUENT FITCH RATING EVENT), Party A will at its own cost and expense use its best endeavours to: (1A) provide collateral under the Credit Support Annex within 10 days of such First Subsequent Fitch Rating Event (provided that the mark-to-market calculations and the correct and t▇▇▇▇y posting of collateral thereunder are verified by an independent third party (with the costs of such independent verification being borne by Party A)); or (2B) take any of the actions set out in subparagraphs 7.5(ii), 7.5(iii) or 7.5(iv) above within 30 days of the occurrence of such First Subsequent Fitch Rating Event. If any of the actions set out in subparagraph 7.6(ii) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.5(i) or subparagraph 7.6(i) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such First Subsequent Fitch Rating Event.

First Subsequent Fitch Rating Event. If: (A) the long-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "BBB+" (or its equivalent) by Fitch; or (B) the rating of the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "F2" (or its equivalent) by Fitch (each a FIRST SUBSEQUENT FITCH RATING EVENT), Party A will at its own cost and expense use its best endeavours to: (1A) provide collateral under the Credit Support Annex within 10 days of such First Subsequent Fitch Rating Event (provided that the mark-to-market calculations and the correct and tti▇▇▇▇y ▇ posting of collateral thereunder are verified by an independent third party (with the costs of such independent verification being borne by Party A)); or (2B) take any of the actions set out in subparagraphs 7.5(ii), 7.5(iii) or 7.5(iv) above within 30 days of the occurrence of such First Subsequent Fitch Rating Event. If any of the actions set out in subparagraph 7.6(ii) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.5(i) or subparagraph 7.6(i) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such First Subsequent Fitch Rating Event.

First Subsequent Fitch Rating Event. If: (Aa) the long-term, unsecured and unsubordinated debt obligations term IDR of Party A (or its successor or permitted transferee) or any and each Credit Support Provider from time to time in respect of Party A cease ceases to be rated at least as high as "BBB+" (or its equivalent) by Fitch or, if Fitch has placed such IDR on Rating Watch Negative, at least as high as "A-" (or its equivalent) by Fitch; or (Bb) the rating of the short-term, unsecured and unsubordinated debt obligations term IDR of Party A (or its successor or permitted transferee) or any and each Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "F2" (or its equivalent) by Fitch or, if Fitch has placed such IDR on Rating Watch Negative, at least as high as "F1" (or its equivalent) by Fitch (each of (a) and (b) a FIRST SUBSEQUENT FITCH RATING EVENTFirst Subsequent Fitch Rating Event), Party A will on a reasonable efforts basis and at its own cost and expense use its best endeavours toexpense: (1i) provide collateral under the Credit Support Annex within 10 14 calendar days of such First Subsequent Fitch Rating Event (provided that the mark-to-market calculations and the correct and t▇▇▇▇y posting of collateral thereunder are verified by an independent third party (in accordance with the costs terms of such independent verification being borne by Party A)the Credit Support Annex); or (2ii) take any of the actions set out in subparagraphs 7.5(ii), 7.5(iii7.4(ii)(A) (B) or 7.5(iv(C) above within 30 calendar days of the occurrence of such First Subsequent Fitch Rating Event. If , provided that, pending the taking of any such action, Party A will, on a reasonable efforts basis and at its own expense within 14 days of the actions set out in subparagraph 7.6(ii) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.5(i) or subparagraph 7.6(i) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect occurrence of such First Subsequent Fitch Rating Event, post collateral as provided in sub-paragraph (i) above.

First Subsequent Fitch Rating Event. If: In the event that (Ax) the long-term, unsecured and unsubordinated debt obligations term IDR of Party A (or its successor or permitted transfereeassignee) or any Credit Support Provider from time to time in respect of Party A cease ceases to be rated at least as high as "BBB+A-" (or its equivalent) by Fitch; or Fitch or (By) the rating of the short-term, unsecured and unsubordinated debt obligations short- term IDR of Party A (or its successor or permitted transfereeassignee) or any Credit Support Provider from time to time in respect of Party A cease ceases to be rated at least as high as "F2" (or its equivalent) by Fitch (each of (x) and (y) a FIRST SUBSEQUENT FITCH RATING EVENT), "First Subsequent Fitch Rating Event") then Party A will will, on a reasonable efforts basis and at its own cost and expense use its best endeavours toexpense, either: (1A) provide collateral under the Credit Support Annex within 10 14 days of such a First Subsequent Fitch Rating Event (provided that Event, post collateral in the mark-to-market calculations and the correct and t▇▇▇▇y posting form of collateral thereunder are verified by an independent third party (cash or securities or both in support of its obligations under this Agreement in accordance with the costs terms of such independent verification being borne by Party A))the Credit Support Annex; or (2B) take any of the actions set out in subparagraphs 7.5(ii(iii)(B)(I), 7.5(iii(iii)(B)(II) or 7.5(iv(iii)(B)(III) above of this Part 5(f) within 30 calendar days of the occurrence of such First Subsequent Fitch Rating Event provided that, pending the taking of any such action, Party A will, on a reasonable efforts basis and at its own expense within 14 days of the occurrence of such First Subsequent Fitch Rating Event. If any of the actions set out , post collateral as provided in subparagraph 7.6(iisub-paragraph (A) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.5(i) or subparagraph 7.6(i) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such First Subsequent Fitch Rating Eventabove.

First Subsequent Fitch Rating Event. If: (A) the long-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "BBB+" (or its equivalent) by Fitch; or (B) the rating of the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "F2" (or its equivalent) by Fitch (each a FIRST SUBSEQUENT FITCH RATING EVENTFirst Subsequent Fitch Rating Event), Party A will at its own cost and expense use its best endeavours to: (1) provide collateral under the Credit Support Annex within 10 days of such First Subsequent Fitch Rating Event (provided that the mark-to-market calculations and the correct and tti▇▇▇▇y ▇ posting of collateral thereunder are verified by an independent third party (with the costs of such independent verification being borne by Party A)); or (2) take any of the actions set out in subparagraphs 7.5(ii), 7.5(iii) or 7.5(iv) above within 30 days of the occurrence of such First Subsequent Fitch Rating Event. If any of the actions set out in subparagraph 7.6(ii) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.5(i) or subparagraph 7.6(i) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such First Subsequent Fitch Rating Event.

First Subsequent Fitch Rating Event. If: (A) the long-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "BBB+" (or its equivalent) by Fitch; or (B) the rating of the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "F2" (or its equivalent) by Fitch (each a FIRST SUBSEQUENT FITCH RATING EVENT), Party A will at its own cost and expense use its best endeavours to: (1) provide collateral under the Credit Support Annex within 10 days of such First Subsequent Fitch Rating Event (provided that the mark-to-market calculations and the correct and tcorre▇▇ ▇▇▇y nd timely posting of collateral thereunder are verified by an independent third party (with the costs of such independent verification being borne by Party A)); or (2) take any of the actions set out in subparagraphs 7.5(ii), 7.5(iii) or 7.5(iv) above within 30 days of the occurrence of such First Subsequent Fitch Rating Event. If any of the actions set out in subparagraph 7.6(ii) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.5(i) or subparagraph 7.6(i) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such First Subsequent Fitch Rating Event.

First Subsequent Fitch Rating Event. If: (A) the long-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "BBB+" (or its equivalent) by Fitch; or (B) the rating of the short-term, unsecured and unsubordinated debt obligations of Party A (or its successor or permitted transferee) or any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "F2" (or its equivalent) by Fitch (each a FIRST SUBSEQUENT FITCH RATING EVENT), Party A will at its own cost and expense use its best endeavours to: (1) provide collateral under the Credit Support Annex within 10 days of such First Subsequent Fitch Rating Event (provided that the mark-to-market calculations and the correct and tti▇▇▇▇y ▇ posting of collateral thereunder are verified by an independent third party (with the costs of such independent verification being borne by Party A)); or (2) take any of the actions set out in subparagraphs 7.5(ii), 7.5(iii) or 7.5(iv) above within 30 days of the occurrence of such First Subsequent Fitch Rating Event. If any of the actions set out in subparagraph 7.6(ii) above is taken at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to subparagraph 7.5(i) or subparagraph 7.6(i) above will be transferred to Party A and Party A will not be required to transfer any additional collateral in respect of such First Subsequent Fitch Rating Event.