Common use of Determination of Clean-Up Settlement Date Clause in Contracts

Determination of Clean-Up Settlement Date. If CBA advises the Manager pursuant to clause 23.2 that it requires to exercise the rights of the Sellers pursuant to this clause 23: (a) (Clean-Up Settlement Date to Coincide with redemption of Securities): if any Securities have been issued and have not then been redeemed, the Manager must, subject to clause 23.4(b), in accordance with Conditions 7.3 or 7.4 (as applicable) of the Class A-1 Note Conditions direct the Trustee to give a notice in accordance with such Condition (which the Trustee must give) that on the Quarterly Distribution Date nominated by CBA pursuant to clause 23.2 (which must be a complying Quarterly Distribution Date in accordance with such Condition) a redemption of the Securities will occur pursuant to such Condition (in which case, such nominated and complying Quarterly Distribution Date will be the Clean-Up Settlement Date); or (b) (Otherwise, date nominated by Seller): otherwise, the Clean-Up Settlement Date will be the Quarterly Distribution Date nominated by CBA as the Clean-Up Settlement Date pursuant to clause 23.2.

Appears in 2 contracts

Samples: Series Supplement (Securitisation Advisory Services Pty LTD), Series Supplement (Securitisation Advisory Services Pty LTD)

AutoNDA by SimpleDocs

Determination of Clean-Up Settlement Date. If CBA advises the Manager pursuant to clause 23.2 that it requires to exercise the rights of the Sellers pursuant to this clause 23: (a) (CleanCLEAN-Up Settlement Date to Coincide with redemption of SecuritiesUP SETTLEMENT DATE TO COINCIDE WITH REDEMPTION OF SECURITIES): if any Securities have been issued and have not then been redeemed, the Manager must, 100 subject to clause 23.4(b), in accordance with Conditions 7.3 or 7.4 (as applicable) of the Class A-1 US Dollar Note Conditions direct the Trustee to give a notice in accordance with such Condition (which the Trustee must give) that on the Quarterly Distribution Date nominated by CBA pursuant to clause 23.2 (which must be a complying Quarterly Distribution Date in accordance with such Condition) a redemption of the Securities will occur pursuant to such Condition (in which case, such nominated and complying Quarterly Distribution Date will be the Clean-Up Settlement Date); or (b) (OtherwiseOTHERWISE, date nominated by SellerDATE NOMINATED BY CBA): otherwise, the Clean-Up Settlement Date will be the Quarterly Distribution Date nominated by CBA as the Clean-Up Settlement Date pursuant to clause 23.2.

Appears in 1 contract

Samples: Series Supplement (Securitisation Advisory Services Pty LTD)

AutoNDA by SimpleDocs

Determination of Clean-Up Settlement Date. If CBA advises the Manager pursuant to clause 23.2 that it requires to exercise the rights of the Sellers pursuant to this clause 23: (a) (Clean-Up Settlement Date to Coincide with redemption of Securities): if any Securities have been issued and have not then been redeemed, the Manager must, subject to clause 23.4(b), in accordance with Conditions 7.3 or 7.4 (as applicable) of the Class A-1 US Dollar Note Conditions direct the Trustee to give a notice in accordance with such Condition (which the Trustee must give) that on the Quarterly Distribution Date nominated by CBA pursuant to clause 23.2 (which must be a complying Quarterly Distribution Date in accordance with such Condition) a redemption of the Securities will occur pursuant to such Condition (in which case, such nominated and complying Quarterly Distribution Date will be the Clean-Up Settlement Date); or (b) (Otherwise, date nominated by SellerCBA): otherwise, the Clean-Up Settlement Date will be the Quarterly Distribution Date nominated by CBA as the Clean-Up Settlement Date pursuant to clause 23.2.

Appears in 1 contract

Samples: Series Supplement (Securitisation Advisory Services Pty LTD)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!