Lisa Palmer and I had a conference call with the Xerox lawyer and commercial  person.
The main issues are the following:  No CSA (claim to have over 40 ISDA Masters none of which contain CSA's!
and  not set up to handle collateral) Rating downgrade is a Termination Event.
(Maybe they'll agree to our posting  L/C's  MUST have cross-acceleration (POLICY).
Guess what else?
NO NETTING (can't handle netting internally)  Otherwise, Xerox is cool.

Xerox Corporation