Common use of Second Subsequent Fitch Rating Event Clause in Contracts

Second Subsequent Fitch Rating Event. In the event that (x) the long-term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "BBB-" (or its equivalent) by Fitch or (y) the short-term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "F3" (or its equivalent) by Fitch (each of (x) and (y) a "Second Subsequent Fitch Rating Event") then Party A will: (A) at its own cost and expense, use its best endeavours to take any of the actions set out in subparagraphs (iii)(B)(I) or (iii)(B)(II) of this Part 5(f) within 30 calendar days of the occurrence of such Second Subsequent Fitch Rating Event; and (B) pending taking any of the actions set out in subparagraphs (iii)(B)(I) or (iii)(B)(II) of this Part 5(f), Party A will, at its own cost and expense, within 10 days of the occurrence of the Second Subsequent Fitch Rating Event post collateral in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex (provided that the mark-to-market calculations and the correct and timely posting of collateral thereunder are verified by an independent third party on a weekly basis (with the costs of such independent verification being borne by Party A)).

Second Subsequent Fitch Rating Event. In the event that If: (xa) the long-term IDR term, unsecured and unsubordinated debt obligations of Party A (or its successor or assigneepermitted transferee) or any Credit Support Provider from time to time in respect of Party A ceases cease to be rated at least as high as "“BBB-" ” (or its equivalent) by Fitch or Fitch; or (yb) the rating of the short-term IDR term, unsecured and unsubordinated debt obligations of Party A (or its successor or assigneepermitted transferee) or any Credit Support Provider from time to time in respect of Party A ceases cease to be rated at least as high as "“F3" ” (or its equivalent) by Fitch (each of (x) and (y) a "Second Subsequent Fitch Rating Event and together with the First Subsequent Fitch Rating Events the Subsequent Fitch Rating Events and each a Subsequent Fitch Rating Event") then ), Party A will: (Ai) at its own cost and expense, use its best endeavours to take any of the actions set out in subparagraphs (iii)(B)(I7.5(ii), 7.5(iii) or (iii)(B)(II7.5(iv) of this Part 5(f) above within 30 calendar days of the occurrence of such Subsequent Fitch Rating Event; and (ii) if, at the time such Second Subsequent Fitch Rating Event occurs, Party A has provided collateral under the Credit Support Annex pursuant to subparagraph 7.5(i) or 7.6(i) above following a Fitch Rating Event or a First Subsequent Fitch Rating Event, as the case may be, continue to post collateral notwithstanding the occurrence of such Second Subsequent Fitch Rating Event; and Event (Bin accordance with Paragraph 11.8(g) pending taking of the Credit Support Annex) until such time as the action set out in subparagraph 7.7(i) above has been taken. If any of the actions set out in subparagraphs (iii)(B)(Isubparagraph 7.7(i) or (iii)(B)(II) of this Part 5(f)above is taken at any time, Party A will, at its own cost and expense, within 10 days will not be required to transfer any additional collateral in respect of the occurrence of the such Second Subsequent Fitch Rating Event post collateral in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex (provided that the mark-to-market calculations and the correct and timely posting of collateral thereunder are verified by an independent third party on a weekly basis (with the costs of such independent verification being borne by Party A))Event.

Second Subsequent Fitch Rating Event. In the event that If: (xa) the long-term IDR term, unsecured and unsubordinated debt obligations of Party A (or its successor or assigneepermitted transferee) or any Credit Support Provider from time to time in respect of Party A ceases cease to be rated at least as high as "“BBB-" ” (or its equivalent) by Fitch or Fitch; or (yb) the rating of the short-term IDR term, unsecured and unsubordinated debt obligations of Party A (or its successor or assigneepermitted transferee) or any Credit Support Provider from time to time in respect of Party A ceases cease to be rated at least as high as "“F3" ” (or its equivalent) by Fitch (each of (x) and (y) a "Second Subsequent Fitch Rating Event and together with the First Subsequent Fitch Rating Events the Subsequent Fitch Rating Events and each a Subsequent Fitch Rating Event") then ), Party A will: (Ai) at its own cost and expense, use its best endeavours to take any of the actions set out in subparagraphs (iii)(B)(I7.5(ii), 7.5(iii) or (iii)(B)(II7.5(iv) of this Part 5(f) above within 30 calendar days of the occurrence of such Subsequent Fitch Rating Event; and (ii) if, at the time such Second Subsequent Fitch Rating Event occurs, Party A has provided collateral under the Credit Support Annex pursuant to subparagraph 7.5(i) or 7.6(i) above following a Fitch Rating Event or a First Subsequent Fitch Rating Event, as the case may be, continue to post collateral notwithstanding the occurrence of such Second Subsequent Fitch Rating Event; and Event (Bin accordance with Paragraph 11(h)(vii) pending taking of the Credit Support Annex) until such time as the action set out in subparagraph 7.7(i) above has been taken. If any of the actions set out in subparagraphs (iii)(B)(Isubparagraph 7.7(i) or (iii)(B)(II) of this Part 5(f)above is taken at any time, Party A will, at its own cost and expense, within 10 days will not be required to transfer any additional collateral in respect of the occurrence of the such Second Subsequent Fitch Rating Event post collateral in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex (provided that the mark-to-market calculations and the correct and timely posting of collateral thereunder are verified by an independent third party on a weekly basis (with the costs of such independent verification being borne by Party A))Event.

Second Subsequent Fitch Rating Event. In the event that (x) the long-term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "BBB-" (or its equivalent) by Fitch or (y) the short-term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "F3" (or its equivalent) by Fitch (each of (x) and (y) a "Second Subsequent Fitch Rating Event") then Party A will: (A) at its own cost and expense, use its best endeavours to take any of the actions set out in subparagraphs (iii)(B)(I), (iii)(B)(II) or (iii)(B)(IIiii)(B)(III) of this Part 5(f) within 30 calendar days of the occurrence of such Second Subsequent Fitch Rating Event; and (B) pending taking any of the actions set out in subparagraphs (iii)(B)(I), (iii)(B)(II) or (iii)(B)(IIiii)(B)(III) of this Part 5(f), Party A will, at its own cost and expense, within 10 days of the occurrence of the Second Subsequent Fitch Rating Event post collateral in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex (provided that the mark-to-market calculations and the correct and timely posting of collateral thereunder are verified by an independent third party on a weekly basis (with the costs of such independent verification being borne by Party A))Annex.

Second Subsequent Fitch Rating Event. In the event that (x) the long-term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "BBB-BBB+" (or its equivalent) by Fitch or (y) the short-term IDR of Party A (or its successor or assignee) or any Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "F3F2" (or its equivalent) by Fitch (each of (x) and (y) a "Second Subsequent Fitch Rating Event") then Party A will: (A) at its own cost and expense, use its best endeavours to take any of the actions set out in subparagraphs (iii)(B)(I), (iii)(B)(II) or (iii)(B)(IIiii)(B)(III) of this Part 5(f) within 30 calendar days of the occurrence of such Second Subsequent Fitch Rating Event; and (B) pending taking any of the actions set out in subparagraphs (iii)(B)(I), (iii)(B)(II) or (iii)(B)(IIiii)(B)(III) of this Part 5(f), Party A will, at its own cost and expense, within 10 days of the occurrence of the Second Subsequent Fitch Rating Event post collateral in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex (provided that the mark-to-market calculations and the correct and timely posting of collateral thereunder are verified by an independent third party on a weekly basis (with the costs of such independent verification being borne by Party A))Annex.

Second Subsequent Fitch Rating Event. In the event that If: (xa) the long-term IDR of Party A (or its successor or assigneepermitted transferee) or any and each Credit Support Provider from time to time in respect of Party A 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 "BBB" (or its equivalent) by Fitch; or (yb) the short-term IDR of Party A (or its successor or assigneepermitted transferee) or any and each Credit Support Provider from time to time in respect of Party A ceases to be rated at least as high as "F3" (or its equivalent) by Fitch or, if Fitch has placed such IDR on Rating Watch Negative, at least as high as "F2" (or its equivalent) by Fitch (each of (xa) and (yb) a "Second Subsequent Fitch Rating Event") then ), Party A will: (Ai) at its own cost and expense, use its best endeavours to take any of the actions set out in subparagraphs 7.4(ii)(A) (iii)(B)(IB) or (iii)(B)(IIC) of this Part 5(f) above within 30 calendar days of the occurrence of such Second Subsequent Fitch Rating Event; and (Bii) pending taking any of the actions set out in subparagraphs 7.4(ii)(A) (iii)(B)(IB) or (iii)(B)(IIC) of this Part 5(f)above, Party A will, at its own cost and expense, within 10 calendar days of the occurrence of the such Second Subsequent Fitch Rating Event Event, post collateral in the form of cash or securities or both in support of its obligations under this Agreement in accordance with the terms of the Credit Support Annex (provided that the mark-to-market calculations and the correct and timely posting of collateral thereunder are verified by an independent third party on a weekly basis (with the costs of such independent verification being borne by Party A))Annex.