Payout Events Sample Clauses

Payout Events. If any of the following events ("Payout Events") shall occur: (a) as of any Reporting Date, the Delinquency Ratio for the preceding Determination Date exceeds 3.0%; (b) as of any Reporting Date, the Default Ratio for the preceding Determination Date exceeds 2.75%; (c) the passage of 60 days following receipt by the Purchaser of a written notification of the Seller's intent to terminate the revolving period; (d) a Restricting Event has occurred.

Payout Events. The Executive shall be entitled to the full and complete rights afforded under Section 5 of this Agreement upon the occurrence of a Payout Event. A “Payout Event” shall be deemed to have occurred upon a Change in Control provided that the Executive is then employed by the Company or the Successor Employer.

Payout Events. The Executive, without waiving any contractual rights afforded elsewhere in this Agreement, shall be entitled to the full and complete rights afforded by this section if, during the period that begins six (6) months prior to the Closing Date of a Change in Control event and that ends twelve (12) months following the Closing Date of a Change in Control event, the Executive: (a) is involuntarily terminated by the Employer or the Successor Employer, unless such termination is for Cause, as such term is defined in this Employment Agreement; or (b) resigns from employment with the Employer or the Successor Employer following a reduction in the Executive’s base salary or bonus opportunity; or (c) is required by the Employer or the Successor Employer to relocate the Executive’s place of employment to a location more than 25 miles from the Executive’s current place of employment. “Closing Date” shall mean the date on which such transaction or stock purchase is signed and finalized.

Payout Events. The Executive shall be entitled to the full and complete rights afforded by this section if, during the period that begins nine (9) months prior to the Closing Date of a Change in Control event and that ends twelve (12) months following the Closing Date of a Change in Control event: (a) Executive’s employment is terminated by Employer (or the Successor Employer) Without Cause under Section 4.3; (b) Executive’s employment is terminated by Employer (or the Successor Employer) Due to Non-Renewal under Section 4.4; (c) Executive resigns from employment with Employer or Successor Employer within 90 days after receiving a reduction in the Executive’s base salary or bonus opportunity; or Executive is required by Employer or Successor Employer to relocate the Executive’s place of employment to a location more than 25 miles from the Banks headquarters in Reston, Virginia; or (d) the Successor Employer reassigns Executive to a different position or title, changes or eliminates any of the positions or titles guaranteed to Executive under Section 1.1, or appoints or assigns another person to share any of the positions or titles guaranteed to Executive under Section 1.1 of this Agreement, or changes Executive’s Manager to any individual or body other than the Board of Directors of Employer or any Successor Employer. “Closing Date” shall mean the date on which such transaction or stock purchase is signed and finalized.

Payout Events. If any of the following events ("Payout Events") shall occur: (a) as of any Reporting Date, the Delinquency Ratio for the preceding Determination Date exceeds 4.5%; (b) as of any Reporting Date, the Default Ratio for the preceding Determination Date exceeds 3.0%; (c) the Reinvestment Termination Date shall have occurred; (d) the level of Capital exceeds the Capital Limit and the Seller does not, within one Business Day, contribute Eligible Contracts and/or cash collateral sufficient to cause the Capital to comply with the Capital Limit; (e) the Seller is not in compliance with the Portfolio Concentration Criteria; (f) a Servicer Default occurs and is continuing; (g) (i) failure on the part of the Seller to make any payment or deposit required by the terms of this Agreement on the day such payment or deposit is required to be made or

Payout Events. The Executive, without waiving any contractual rights afforded elsewhere in this Agreement, shall be entitled to the full and complete rights afforded by this section if, during the period that begins six (6) months prior to the Closing Date of a Change in Control event and that ends twelve (12) months following the Closing Date of a Change in Control event, the Executive: (a) is involuntarily terminated by the Employer or the Successor Employer, unless such termination is for Cause, as such term is defined in this Employment Agreement; or (b) resigns from employment with the Employer or the Successor Employer following a reduction in the Executive’s base salary or bonus opportunity; or (c) is required by the Employer or the Successor Employer to relocate the Executive’s place of employment to a location more than 25 miles from the Executive’s current place of employment; or (d) the Successor Employer reassigns Executive to a different position or title, changes or eliminates any of the positions or titles guaranteed to Executive under Section 1.1, or appoints or assigns another person to share any of the positions or titles guaranteed to Executive under Section 1.1 of this Agreement. “Closing Date” shall mean the date on which such transaction or stock purchase is signed and finalized.