Common use of Conditions Precedent and Secured Party’s Rights and Remedies Clause in Contracts

Conditions Precedent and Secured Party’s Rights and Remedies. For purposes of Paragraph 8, each Termination Event will be a “Specified Condition” for that party if the other party has designated an Early Termination Date in connection with the Termination Event. For all other purposes of this Annex, each Termination Event specified below with respect to a party will be a “Specified Condition” for that party: Party A Party B Illegality [ ] [ ] Tax Event [ ] [ ] Tax Event Upon Merger [ ] [ ] Credit Event Upon Merger [ ] [ ] The Additional Termination Events specified in Part 1(m) of the Schedule to this Agreement. [X] [ ] The Additional Termination Event specified in Part 1(n) of the Schedule to this Agreement. [ ] [X]

Appears in 8 contracts

Samples: Master Agreement, 2002 Master Agreement (Verizon Owner Trust 2020-A), 2002 Master Agreement (Verizon Owner Trust 2019-C)

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Conditions Precedent and Secured Party’s Rights and Remedies. For purposes of Paragraph 88 of this Annex, each Termination Event will be a “Specified Condition” for that party if the other party has designated an Early Termination Date in connection with the Termination Event. For all other purposes of this Annex, each Termination Event specified below with respect to a party will be a “Specified Condition” for that party: Party A Party B Illegality [ ] [ ] Tax Event [ ] [ ] Tax Event Upon Merger [ ] [ ] Credit Event Upon Merger [ ] [ ] The Additional Termination Events Event specified in Part 1(m1(k) of the Schedule to this Agreement. Agreement [ ] [X] [ ] The Additional Termination Event specified in Part 1(n1(l) of the Schedule to this Agreement. [ ] Agreement [X] [ ]

Appears in 2 contracts

Samples: 2002 Master Agreement (Verizon Master Trust), 2002 Master Agreement (Verizon Master Trust)

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