Cap Agreement. Promptly following the termination of the Cap Agreement due to an “Event of Default” or “Termination Event” (as each such term is defined in the Cap Agreement), the Issuer will use reasonable efforts to enter into a replacement cap agreement on terms similar to those of the terminated Cap Agreement with an Eligible Replacement Cap Counterparty unless the Indenture Trustee sells the Collateral pursuant to Section 5.6(a)(ii).
Appears in 14 contracts
Samples: Transfer and Servicing Agreement (Verizon Owner Trust 2020-A), Indenture (Verizon Owner Trust 2019-C), Transfer and Servicing Agreement (Vzot 2018-A)