Common use of Early Amortization Event Clause in Contracts

Early Amortization Event. The occurrence during the Revolving Period of one or more of the following: (i) the amount on deposit in the Reserve Account is less than the Specified Reserve Account Balance on two consecutive Distribution Dates after payment of the Aggregate Additional Receivables Principal Balance; (ii) the amount on deposit in the Accumulation Account is less than the Target Reinvestment Amount on two consecutive Distribution Dates after payment of the Aggregate Additional Receivables Principal Balance; (iii) after payment of the Aggregate Additional Receivables Principal Balance on three consecutive Distribution Dates, the amount on deposit in the Accumulation Account exceeds 0.10% of the Initial Aggregate Receivables Principal Balance; (iv) an Event of Default occurs; or (v) a Servicer Default occurs.