CHANGES IN THE AUCTION DATE Sample Clauses
The "Changes in the Auction Date" clause establishes the rules and procedures for modifying the scheduled date of an auction. Typically, this clause outlines who has the authority to change the auction date, the required notice period to inform participants, and the acceptable reasons for rescheduling, such as unforeseen circumstances or regulatory requirements. Its core practical function is to provide flexibility in the auction process while ensuring all parties are adequately informed and prepared, thereby minimizing confusion and potential disputes arising from unexpected changes.
CHANGES IN THE AUCTION DATE. The applicable Broker-Dealer, and, if applicable, upon receipt of the opinion of counsel as required below, may specify a different Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1.01 of this Appendix A-2 with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate borne on the Auction Rate Notes. The applicable Broker-Dealer shall deliver a written direction to such change in the length of the Auction Date to the Issuer at least 14 days prior to the effective date of such change. If the Issuer shall have delivered such written direction of the applicable Broker-Dealer, such Broker-Dealer shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Indenture Trustee, the Auction Agent, the Issuer, each Rating Agency and the Clearing Agency. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G attached hereto. In connection with any change described in this Section 2.02(h), the Auction Agent shall provide such further notice to such parties as is specified in Section 2.03 of the Auction Agent Agreement.
CHANGES IN THE AUCTION DATE. The Market Agent, with the written consent of an Authorized Officer of the Corporation, may specify an earlier Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 of this Third Supplemental Indenture with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Series 2001-1 Note Interest Rate borne by the Series 2001-1 Notes. The Market Agent shall deliver a written request for consent to such change in the Auction Date to the Corporation not less than three days nor more than twenty (20) days prior to the effective date of such change. The Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Corporation and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G to this Third Supplemental Indenture. In connection with any change described in this Section 11, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.
CHANGES IN THE AUCTION DATE. The Market Agent may specify an earlier or later Auction Date (but in no event more than five Business Days earlier or later) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Article 1 of these Auction Procedures with respect to one or more specified Interest Accrual Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Class A-3 Pass-Through Rate. The Market Agent shall provide notice of its determination to specify an earlier or later Auction Date for one or more Interest Accrual Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Servicer and the Depository. In connection with any change described in this Section 2.1.7, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.
CHANGES IN THE AUCTION DATE. The Remarketing Agent, at the written direction of the Representative, may specify an earlier Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate borne on the Pool I Auction Rate Certificates. The Representative will not consent to such change in the Auction Date unless the Representative will have received from the Remarketing Agent not less than three days nor more than 20 days prior to the effective date of such change a written request for consent together with a certificate demonstrating the need for change in reliance on such factors. The Remarketing Agent will provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Trustee, the Remarketing Agent, the Certificate Insurer and the Representative. Subject to the prior written consent of the Certificate Insurer, the changes in Auction terms described above may be made with respect to any Class of Pool I Auction Rate Certificates. In connection with any change in Auction Terms described above, the Remarketing Agent is to provide such further notice to such parties as is specified in the Interest Rate Services Agreement. ANNEX A THE MONEY STORE ASSET BACKED CERTIFICATES SERIES 1997-D, CLASS AF-6 NOTICE OF CERTIFICATE INSURER DEFAULT NOTICE IS HEREBY GIVEN that a Certificate Insurer Default has occurred and is continuing with respect to the Certificates identified above. The next Auction for the Series 1997- D, Class AF-6 Certificates will not be held. The Auction Rate for the Series 1997-D, Class AF-6 Certificates for the next succeeding Interest Period shall be the Non-Payment Rate. THE BANK OF NEW YORK, as Trustee Dated: By: ____________________________ Name: Title: ANNEX B THE MONEY STORE ASSET BACKED CERTIFICATES SERIES 1997-D, CLASS AF-6 NOTICE OF CURE OF CERTIFICATE INSURER DEFAULT NOTICE IS HEREBY GIVEN that a Certificate Insurer Default with respect to the Certificates identified above has been waived or cured. The next Remittance Dat...
CHANGES IN THE AUCTION DATE. The Market Agent, with the written consent of a Responsible Officer of the Representative, and the written consent of the Certificate Insurer, may specify an earlier or later Auction Date (but in no event more than five Business Days earlier or later) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Article I of these Auction Procedures with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Class Remittance Rate borne on a Class of Auction Rate Certificates. The Market Agent shall deliver a written request for consent to such change in the Auction Date to the Representative and the Certificate Insurer not less than three days nor more than 20 days prior to the effective date of such change together with a certificate demonstrating the need for change in reliance on such factors. The Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Representative, the Rating Agencies, the Certificate Insurer and the Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Annex C to these Auction Procedures. In connection with any change described in this Section 2.1.7, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.
CHANGES IN THE AUCTION DATE. The Market Agent:
(i) in order to conform with then-current market practice with respect to similar securities, shall; or
(ii) in order to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the interest rate borne on an Auction Rate Note and with the written consent of an Authorized Representative of the Issuer, may specify an earlier Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1.01 of this Appendix B with respect to one or more specified Auction Periods. The Authorized Representative of the Issuer shall not consent to such change in the Auction Date, if such consent is required in subparagraph (b)(ii) above, unless he or she shall have received from the Market Agent not less than three days nor more than 25 days prior to the effective date of such change a written request for consent together with a certificate demonstrating the need for change in reliance on such factors. The Market Agent shall provide notice of any determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Issuer and the Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Appendix I to the Indenture.
CHANGES IN THE AUCTION DATE. The applicable Market Agent, with the written consent of an Authorized Officer of the Issuer specify an earlier Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 of this _____ Supplement with respect to one or more specified Auction Periods for one or more series of Series 200_-_ Notes, designate a Series Auction Date different than as set forth in the definition of Interest Period in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Applicable Interest Rate borne by the Series 200_-_ Notes of such series. The applicable Market Agent shall deliver a written request for consent to such change in the Auction Date to the Issuer not less than three days nor more than twenty days prior to the effective date of such change. The applicable Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least three days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Issuer and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G to this _____ Supplement. In connection with any change described in this Section 11, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.
CHANGES IN THE AUCTION DATE. The Auction Agent may specify an earlier or later Auction Date for a Class of Auction Rate Certificates (but in no event more than five Business Days earlier or later) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Article 1 of these Auction Procedures with respect to one or more specified Interest Accrual Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date or the determination of the Auction Rate. The Auction Agent shall provide notice of its determination to specify an earlier or later Auction Date for one or more Interest Accrual Periods by means of a written notice delivered at least 10 days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Depositor and the Depository. In connection with any change described in this Section 2.1.6, the Auction Agent shall provide such further notice to such parties as is specified in the Auction Agent Agreement.
CHANGES IN THE AUCTION DATE. The Market Agent, with the --------------------------- written consent of an Authorized Officer of the Corporation, may specify an earlier Auction Date (but in no event more than five Business Days earlier) than the Auction Date that would otherwise be determined in accordance with the definition of "Auction Date" in Section 1 of this Second Supplemental Indenture with respect to one or more specified Auction Periods in order to conform with then current market practice with respect to similar securities or to accommodate economic and financial factors that may affect or be relevant to the day of the week constituting an Auction Date and the Series 2000-1 Note Interest Rate borne by the Series 2000-1 Notes. The Market Agent shall deliver a written request for consent to such change in the Auction Date to the Corporation not less than three days nor more than twenty (20) days prior to the effective date of such change. The Market Agent shall provide notice of its determination to specify an earlier Auction Date for one or more Auction Periods by means of a written notice delivered at least ten (10) days prior to the proposed changed Auction Date to the Trustee, the Auction Agent, the Corporation and the Securities Depository. Such notice shall be substantially in the form of, or contain substantially the information contained in, Exhibit G to this Second Supplemental Indenture. In connection with any change described in this Section 11, the Auction Agent shall provide such further notice to such parties as is specified in Section 2.5 of the Auction Agent Agreement.