S&P Implications Clause Samples

The 'S&P Implications' clause outlines how a transaction or agreement may affect the credit ratings assigned by Standard & Poor's (S&P). It typically requires parties to consider or disclose the potential impact of their actions on S&P ratings, such as whether a particular event or change could trigger a downgrade or review. This clause helps ensure that all parties are aware of and manage the risk of adverse rating actions, which can affect borrowing costs, investor confidence, and contractual obligations tied to credit ratings.
S&P Implications. (1) If Party A fails to post collateral as required by sub-paragraphs (f)(i)(x)(A) or (f)(i)(y)(A) above, such failure will not be or give rise to an Event of Default but will constitute an Additional Termination Event with respect to Party A which will be deemed to have occurred on the next Business Day (as defined in the Confirmation in respect of the Transaction under this Agreement other than the Transaction constituted by the Credit Support Annex) following the last day of the Initial Remedy Period or the Subsequent Collateral Remedy Period (as applicable) with Party A as the sole Affected Party and all Transactions as Affected Transactions. (2) If Party A does not take any of the measures described in sub- paragraph (f)(i)(y)(B) above, notwithstanding that reasonable efforts may have been used (irrespective of whether Party A continues to post collateral as required by sub-paragraphs (f)(i)(x)(A) or (f)(i)(y)(A), and notwithstanding Section 5(a)(ii)) such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A, which shall be deemed to have occurred on the next Business Day (as defined in the Confirmation in respect of the transaction under this Agreement) following the last day of the Subsequent Remedy Period with Party A as the sole Affected Party and all Transactions as Affected Transactions. (3) If Paragraph 11(h)(xi) of the Credit Support Annex is applicable and if Party A does not provide to S&P the External Mark Statement (as defined in the Credit Support Annex) in accordance with the provisions of the Credit Support Annex, such failure will not be or give rise to an Event of Default but will constitute an Additional Termination Event, which will be deemed to have occurred on the date on which Party A was obliged to provide to S&P the External Mark Statement in accordance with the provisions of the Credit Support Annex, with respect to Party A, with Party A as the sole Affected Party and all Transactions as Affected Transactions.
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S&P Implications. If, Party A fails to post collateral as required by Part 5(f)(i)(a) or Part 5(f)(ii)(a) of this Schedule above, such failure will not be or give rise to an Event of Default but will constitute an Additional Termination Event with respect to Party A which will be deemed to have occurred on (x) the next London Business Day following the last day of the Initial Remedy Period or the Replacement Option 3 Collateral Remedy Period or (y) the occurrence of such failure in accordance with the terms of the Credit Support Annex in respect of a failure to post collateral as required by Part 5(f)(ii)(a) other than where Replacement Option 3 applies (as applicable) with Party A as the sole Affected Party and all Transactions as Affected Transactions.
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S&P Implications. If, at the time an Initial S&P Rating Event occurs and is continuing, Party A does not post collateral or take any other action pursuant to sub-paragraph (i)(A) of this Part 5(g) above, such failure shall not be or give rise to an Event of Default but shall constitute an Additional Termination Event with respect to Party A which shall be deemed to have occurred on the last day of the Initial Remedy Period with Party A as the sole Affected Party and all Transactions as Affected Transactions.
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Related to S&P Implications

  • Tax Implications Without limitation, we do not accept liability for any adverse tax implications of any Transaction whatsoever.

  • FINANCIAL IMPLICATIONS There are no budget implications. The applicant will be responsible for all costs, expenses, liabilities and obligations imposed under or incurred in order to satisfy the terms of this proposed development agreement. The administration of the proposed development agreement can be carried out within the approved 2019- 2020 budget and with existing resources.

  • No Third Party Rights Except as expressly provided in this Agreement, this Agreement is intended solely for the benefit of the parties hereto and is not intended to confer any benefits upon, or create any rights in favor of, any Person other than the parties hereto.

  • Illegal or Unauthorized Payments; Political Contributions Neither the Company nor any of its Subsidiaries nor, to the best of the Company’s knowledge (after reasonable inquiry of its officers and directors), any of the officers, directors, employees, agents or other representatives of the Company or any of its Subsidiaries or any other business entity or enterprise with which the Company or any Subsidiary is or has been affiliated or associated, has, directly or indirectly, made or authorized any payment, contribution or gift of money, property, or services, whether or not in contravention of applicable law, (i) as a kickback or bribe to any Person or (ii) to any political organization, or the holder of or any aspirant to any elective or appointive public office except for personal political contributions not involving the direct or indirect use of funds of the Company or any of its Subsidiaries.

  • Benefits of Agreement; No Third-Party Rights The provisions of this Agreement are intended solely to benefit the Member and, to the fullest extent permitted by applicable law, shall not be construed as conferring any benefit upon any creditor of the Company (and no such creditor shall be a third-party beneficiary of this Agreement), and the Member shall have no duty or obligation to any creditor of the Company to make any contributions or payments to the Company.