Common use of Securitization Events Clause in Contracts

Securitization Events. There shall occur any breach of any covenant by any Credit Party, any Restricted Subsidiary or any Permitted Securitization Subsidiary contained in any agreement relating to Permitted Securitization Transaction causing or permitting the acceleration of the obligations thereunder or requiring the prepayment of such obligations or termination of such securitization program prior to its stated maturity or term; provided, however, such breach shall not constitute an Event of Default unless a Credit Party shall have any material liability or payment obligation under such Permitted Securitization Transaction; or

Securitization Events. There shall occur any breach of any covenant by any Credit Partythe Borrower, any Restricted Subsidiary or any Permitted Securitization Subsidiary contained in any agreement relating to Permitted Securitization Transaction causing or permitting the acceleration of the obligations thereunder or requiring the prepayment of such obligations or termination of such securitization program prior to its stated maturity or term; provided, however, such breach shall not constitute an Event of Default unless a Credit Party the Borrower or any Restricted Subsidiary shall have any material Material liability or payment obligation under such Permitted Securitization Transaction; or.

Securitization Events. There shall occur any breach of any covenant by any Credit Partythe a Borrower, any Restricted Subsidiary or any Permitted Securitization Subsidiary contained in any agreement relating to Permitted Securitization Transaction causing or permitting the acceleration of the obligations thereunder or requiring the prepayment of such obligations or termination of such securitization program prior to its stated maturity or term; provided, however, such breach shall not constitute an Event of Default unless a Credit Party shall have any material Material liability or payment obligation under such Permitted Securitization Transaction; or