the Supplier fails to notify the Authority of a Financial Distress Event in accordance with paragraph 2.4; the Parties fail to agree a Financial Distress Service Continuity Plan (or any updated Financial Distress Service Continuity Plan) in accordance with paragraphs 3.3 to 3.5; and/or the Supplier fails to comply with the terms of the Financial Distress Service Continuity Plan (or any updated Financial Distress Service Continuity Plan) in accordance with paragraph 3.6.3. PRIMACY OF CREDIT RATINGS Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 3, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 3.1.1 to 3.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 3.3 to 3.6; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 3.3.2(b). ANNEX 1: RATING AGENCIES Rating Agency - Dunn and Bradstreet ANNEX 2: CREDIT RATINGS & CREDIT RATING THRESHOLDS Entity Credit rating (long term) Credit Rating Threshold Supplier 51 51 [Framework Guarantor/ 51 51 [and Call Off Guarantor] FRAMEWORK SCHEDULE 17: COMMERCIALLY SENSITIVE INFORMATION INTRODUCTION In this Framework Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier's Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Framework Schedule 17 applies.
the Supplier fails to notify the Authority of a Financial Distress Event in accordance with paragraph 2.4; the Parties fail to agree a Financial Distress Service Continuity Plan (or any updated Financial Distress Service Continuity Plan) in accordance with paragraphs 3.3 to 3.5; and/or the Supplier fails to comply with the terms of the Financial Distress Service Continuity Plan (or any updated Financial Distress Service Continuity Plan) in accordance with paragraph 3.6.3. PRIMACY OF CREDIT RATINGS Without prejudice to the Supplier’s obligations and the Authority’s rights and remedies under paragraph 3, if, following the occurrence of a Financial Distress Event pursuant to Paragraphs 3.1.1 to 3.1.6, the Rating Agencies review and report subsequently that the credit ratings do not drop below the relevant Credit Rating Threshold, then: the Supplier shall be relieved automatically of its obligations under paragraphs 3.3 to 3.6; and the Authority shall not be entitled to require the Supplier to provide financial information in accordance with paragraph 3.3.2(b). ANNEX 1: RATING AGENCIES Rating Agency - Dunn and Bradstreet ANNEX 2: CREDIT RATINGS & CREDIT RATING THRESHOLDS Entity Credit rating (long term) Credit Rating Threshold Supplier 51 51 [Framework Guarantor/ [and Call Off Guarantor] 51 51 FRAMEWORK SCHEDULE 17: COMMERCIALLY SENSITIVE INFORMATION INTRODUCTION In this Framework Schedule 17 (Commercially Sensitive Information) the Parties have sought to identify the Supplier's Confidential Information that is genuinely commercially sensitive and the disclosure of which would be the subject of an exemption under the FOIA. Where possible, the Parties have sought to identify when any relevant Information will cease to fall into the category of Information to which this Framework Schedule 17 applies.
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