Common use of Subsequent Fitch Rating Event Clause in Contracts

Subsequent Fitch Rating Event. In the event that the Long-Term Fitch Rating and the short-term IDR of Party A (or its successor or assignee) and any Credit Support Provider (that is a Fitch Eligible Guarantor) from time to time in respect of Party A cease to be rated at least as high as the corresponding Supported Minimum Counterparty Rating (such event being a "Subsequent Fitch Rating Event"): (a) Party A will on a reasonable efforts basis within the Fitch Non-Collateral Remedy Period, at its own cost, attempt to take any of the measures set out in sub-paragraphs (II)(b)(i), (II)(b)(ii) or (II)(b)(iii) of this Part 5(d); and (b) pending taking any of the measures set out in sub-paragraphs (II)(b)(i), (II)(b)(ii) or (II)(b)(iii) of this Part 5(d) above, Party A will within the Fitch Collateral Remedy Period and at its own cost, in accordance with this Agreement, post collateral in accordance with the provisions of the Credit Support Annex. If any of sub-paragraphs (II)(b)(i), (II)(b)(ii) or (II)(b)(iii) of this Part 5(d) are satisfied at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to sub-paragraph (III)(b) above will, unless otherwise required by virtue of the operation of sub-paragraph (II)(b)(iii) of this Part 5(d), be transferred to Party A subject to, and in accordance with, the terms of the Credit Support Annex, and, for so long as no other Subsequent Fitch Rating Event occurs, Party A will not be required to transfer any additional collateral pursuant to this Part 5(d)(III).

Subsequent Fitch Rating Event. In the event that the Longlong-Term 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 Rating and or the short-term IDR of Party A (or its successor or assignee) and or any Credit Support Provider (that is a Fitch Eligible Guarantor) from time to time in respect of Party A cease ceases to be rated at least as high as the corresponding Supported Minimum Counterparty Rating "F3" (such event being or its equivalent) by Fitch (each, a "" Subsequent Fitch Rating Event"):), then Party A will: (aA) Party A will on a reasonable efforts basis within the Fitch Non-Collateral Remedy Period, at its own costcost and expense, attempt use its best endeavours to take any of the measures actions set out in sub-paragraphs subparagraphs (II)(b)(iiii)(B)(I), (II)(b)(iiiii)(B)(II) or (II)(b)(iiiiii)(B)(III) of this Part 5(d)5(f) within 30 calendar days of the occurrence of such Subsequent Fitch Rating Event; and (bB) pending taking any of the measures actions set out in sub-paragraphs subparagraphs (II)(b)(iiii)(B)(I), (II)(b)(iiiii)(B)(II) or (II)(b)(iiiiii)(B)(III) of this Part 5(d) above5(f), Party A will within the Fitch Collateral Remedy Period and will, at its own costcost and expense, in accordance with this Agreementwithin 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 if required in accordance with the provisions of the Credit Support Annex. If any of sub-paragraphs (II)(b)(i), (II)(b)(ii) or (II)(b)(iii) of this Part 5(d) are satisfied at any time, all collateral (or the equivalent thereof, as appropriate) transferred by Party A pursuant to sub-paragraph (III)(b) above will, unless otherwise required by virtue of the operation of sub-paragraph (II)(b)(iii) of this Part 5(d), be transferred to Party A subject to, and in accordance with, the terms of the Credit Support Annex, and, for so long as no other Subsequent Fitch Rating Event occursAnnex (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)). If any of the actions set out in Part 5(f)(iv)(A) is taken at any time, Party A will not be required to transfer any additional collateral pursuant to this in respect of such Second Subsequent Fitch Rating Event. To the extent a Notice Date has occurred, the obligations of Party A under Part 5(d)(III).5(f)(iii) and