Action if Liquidity Agreement Amortization Event Sample Clauses

Action if Liquidity Agreement Amortization Event. If any Liquidity Agreement Amortization Event set forth in Sections 9.1.1, 9.1.5, 9.1.7, 9.1.9, 9.1.10 or 9.1.11 shall have occurred and be continuing, the Collateral Agent, upon having actual knowledge thereof, without the request or consent of the Liquidity Agent or the Majority Banks, in every such event and at any time thereafter during the continuance of such event, shall, and if any Liquidity Agreement Amortization Event has occurred, the Collateral Agent, at the request or with the consent of the Majority Banks conveyed through the Liquidity Agent, shall, in every such event and at any time thereafter during the continuance of such event, by notice to DTFC and DTAG, at the same or different times, notify the Depositary and the Dealers of the occurrence of such Liquidity Agreement Amortization Event, and instruct DTFC and the Depositary to cease issuing Commercial Paper Notes and the right of DTFC to issue Commercial Paper Notes shall automatically terminate. If any Liquidity Agreement Amortization Event occurs under Section 9.1.6, without giving effect to any grace periods included in the definition of Event of Bankruptcy, the Liquidity Agent will instruct the Depositary and DTFC in writing to cease issuing Commercial Paper Notes. In addition, the Liquidity Agent shall, (i) upon the occurrence of any Liquidity Agreement Amortization Event, terminate the Liquidity Commitments hereunder if such Liquidity Agreement Amortization Event is pursuant to Section 9.1.6 with respect to DTFC; (ii) upon the occurrence of any event specified in Sections 9.1.1 through 9.1.10 at the request, or with the consent, of Liquidity Lenders then holding, in the aggregate, Liquidity Commitments in excess of 50% of the Aggregate Liquidity Commitment (or, if the Aggregate Liquidity Commitment shall have been terminated, Liquidity Lenders then holding, in the aggregate, in excess of 50% of the principal amount of Liquidity Advances then outstanding), by notice to DTFC, declare the aggregate principal amount of any Liquidity Advances then outstanding, together with accrued interest and all fees and other Obligations hereunder, immediately due and payable whereupon all such principal, accrued interest, fees and other Obligations hereunder shall become and be forthwith due and payable, without presentment, demand, protest or further notice of any kind, all of which are hereby expressly waived by DTFC; provided, however, that in the case of any Liquidity Agreement Amortization Eve...
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Related to Action if Liquidity Agreement Amortization Event

  • Rapid Amortization Events If any one of the following events occurs during the Managed Amortization Period:

  • Early Amortization Events If any one of the following events shall occur:

  • Amortization Events or Potential Amortization Events The occurrence of each Amortization Event and each Potential Amortization Event, by a statement of an Authorized Officer of such Seller Party.

  • Additional Amortization Events If any one of the following events shall occur:

  • Amortization Events The occurrence of any one or more of the following events shall constitute an Amortization Event:

  • Allocations During the Early Amortization Period During the Early Amortization Period, an amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that after the date on which an amount of such Collections equal to the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series 1997-1 Certificateholders, such amount shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.

  • Supplemental Credit Enhancement Event Upon the occurrence of a Supplemental Credit Enhancement Event, Greenwood as Servicer shall, within 60 days of notice from Standard & Poor's of the withdrawal or downgrade (or such longer period as may be agreed to by Standard & Poor's), arrange for the payment of the Supplemental Credit Enhancement Amount, if any, by a Person other than Greenwood (or from Series Excess Servicing) to the Trustee as administrator of the Credit Enhancement for application in accordance with the provisions of the Credit Enhancement Agreement. Both the form and the provider of the Supplemental Credit Enhancement Amount, if any, shall be determined at the time it is to be paid; provided, that the Master Servicer shall have received confirmation from Standard & Poor's that the arrangements with respect to the Supplemental Credit Enhancement Amount, if any, will not result in the rating of the Investor Certificates of the Series established hereby being withdrawn or lowered. In addition to the foregoing, the Master Servicer shall notify Moodx'x xx the occurrence of a Supplemental Credit Enhancement Event as soon as practicable after such occurrence, and shall notify Moodx'x xx advance of its implementation of the form and provider of the Supplemental Credit Enhancement Amount, if any.

  • Negative Amortization To the extent any Mortgage Loan provides for negative amortization, such as a GPM or GPARM Loan, the Servicer must assure that the Unpaid Principal Balance of such Mortgage Loan never exceeds the related Maximum Negative Amortization Amount, and that the related Monthly Payment is recast as provided for in the Mortgage Note such that the balance fully amortizes within the remaining term of such Mortgage Loan.

  • Collateral Event In the event that either (a) the Advisor does not make the Fund Reimbursement Payment due in connection with a particular calendar month by the tenth day of the following calendar month or (b) the Board enacts a resolution calling for the liquidation of the Fund (either (a) or (b), a “Collateral Event”), then, in either event, the Board shall have absolute discretion to redeem any shares or other Collateral held in the Collateral Account and utilize the proceeds from such redemptions or such other Collateral to make any required Fund Reimbursement Payment, or to cover any costs or expenses which the Board, in its sole and absolute discretion, estimates will be required in connection with the liquidation of the Fund (the “Liquidation Expenses”). Pursuant to the terms of Paragraph 6 of this Agreement, upon authorization from the Board, but subject to the provisions of the Control Agreement, no further instructions shall be required from the Advisor for the Securities Intermediary to transfer any Collateral from the Collateral Account to the Fund. The Advisor acknowledges that in the event the Collateral available in the Collateral Account is insufficient to cover the full cost of any Fund Reimbursement Payment or Liquidation Expenses, the Fund shall retain the right to receive from the Advisor any costs in excess of the value of the Collateral.

  • Liquidity Test The Borrower will not permit the aggregate Value of the Eligible Portfolio Investments that can be converted to Cash in fewer than 10 Business Days without more than a 5% change in price to be less than 10% of the Covered Debt Amount for more than 30 Business Days during any period when the Adjusted Covered Debt Balance is greater than 90% of the Adjusted Borrowing Base.

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