Common use of Subsequent Fitch Rating Event Clause in Contracts

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: (i) provide collateral under the Credit Support Annex within 10 days of such First Subsequent Fitch Rating Event (provided that the ▇▇▇▇-to-market calculations and the correct and 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 (ii) 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.

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+BBB-" (or its equivalent) by Fitch; or Fitch or (by) the rating of the short-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 "F2F3" (or its equivalent) by Fitch (each of (x) and (y) a First "Subsequent Fitch Rating Event), ") then Party A will will: (A) at its own cost and expense expense, use its best endeavours to:to take any of the actions set out in subparagraphs (ii)(B)(I) or (ii)(B)(II) of this Part 5(f) within 30 calendar days of the occurrence of such Subsequent Fitch Rating Event; and (iB) provide pending taking any of the actions set out in subparagraphs (ii)(B)(I) or (ii)(B)(II) of this Part 5(f), Party A will, at its own cost and expense, within 10 days of the occurrence of the 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 within 10 days of such First Subsequent Fitch Rating Event (provided that the ▇▇▇▇-tomark-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)); or (ii) 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.

Subsequent Fitch Rating Event. If: (a) In the event that the long-term, unsecured and unsubordinated debt obligations term IDR of Party A (or its successor or permitted transfereeassignee) or and any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "BBB+BBB-" (or its equivalent) by Fitch; or (b) Fitch or the rating of the short-term, unsecured and unsubordinated debt obligations short- term IDR of Party A (or its successor or permitted transfereeassignee) or and any Credit Support Provider from time to time in respect of Party A cease to be rated at least as high as "F2F3" (or its equivalent) by Fitch (each a First "Subsequent Fitch Rating Event), ") then Party A will will: (A) at its own cost and expense expense, use its best endeavours to:to take any of the actions set out in subparagraphs (ii)(B)(I), (ii)(B)(II) or (ii)(B)(III) of this Part 5(f) within 30 calendar days of the occurrence of such Subsequent Fitch Rating Event; and (iB) provide pending taking any of the actions set out in subparagraphs (ii)(B)(I), (ii)(B)(II) or (ii)(B)(III) of this Part 5(f), Party A will, at its own cost and expense, within 10 days of the occurrence of the 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 within 10 days of such First Subsequent Fitch Rating Event (provided that the ▇▇▇▇-tomark-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)); or (ii) 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 measures described in subparagraph 7.6(iiparagraphs subparagraphs (ii)(B)(I), (ii)(B)(II) above is taken or (ii)(B)(III) of this Part 5(f) are satisfied 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 that Subsequent Fitch Rating Event.

Subsequent Fitch Rating Event. If: (axxviii) 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 (bxxix) 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: (ixxx) provide collateral under the Credit Support Annex within 10 days of such First Subsequent Fitch Rating Event (provided that the ▇▇▇▇-to-market calculations and the correct and 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 (iixxxi) take any of the actions set out in subparagraphs 7.5(ii7.5(vi), 7.5(iii7.5(vii) or 7.5(iv7.5(viii) 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.