Common use of Rating Events Clause in Contracts

Rating Events. (i) ▇▇▇▇▇’▇ Rating Event First Rating Trigger Collateral. It shall constitute an Additional Termination Event in respect of which Party A shall be the sole Affected Party if Party A fails to comply with or perform any obligation to be complied with or performed by Party A in accordance with the Credit Support Annex and either (A) the First Rating Trigger Requirements apply but the Second Rating Trigger Requirements do not apply or (B) less than 30 Local Business Days have elapsed since the last time the Second Rating Trigger Requirements did not apply. (i) and (iii) of Part 5(o) (Calculations) below apply) and which remains capable of becoming legally binding upon acceptance. So long as the Second Rating Trigger Requirements apply, Party A will at its own cost use commercially reasonable efforts to, as soon as reasonably practicable, procure either (A) an Eligible Guarantee in respect of all of Party A’s present and future obligations under this Agreement is provided by a guarantor with the First Trigger Required Ratings and/or the Second Trigger Required Ratings or (B) a transfer in accordance with Part 5(r) (Transfer) below.

Rating Events. (i) ▇▇▇▇▇’▇ Rating Event First Rating Trigger Collateral. It shall constitute an Additional Termination Event in respect of which Party A shall be the sole Affected Party if Party A fails to comply with or perform any obligation to be complied with or performed by Party A in accordance with the Credit Support Annex and either (A) the First Rating Trigger Requirements apply but the Second Rating Trigger Requirements do not apply or (B) less than 30 Local Business Days have elapsed since the last time the Second Rating Trigger Requirements did not apply. (i) and (iii) of Part 5(o) (Calculations) below apply) and which remains capable of becoming legally binding upon acceptance. So long as the Second Rating Trigger Requirements apply, Party A will at its own cost use commercially reasonable efforts to, as soon as reasonably practicable, procure either (A) an Eligible Guarantee in respect of all of Party A’s present and future obligations under this Agreement is provided by a guarantor with the First Trigger Required Ratings and/or the Second Trigger Required Ratings or (B) a transfer in accordance with Part 5(r) (TransferTransfers) below.