ABS Payment Requirement definition

ABS Payment Requirement means 10,000 units of the Settlement Currency or such lesser amount (as determined by the Calculation Agent) as equals 10% of the relevant ABS Scheduled Periodic Payment with respect to ABS Failure to Pay Interest or 1% of the outstanding principal amount of the relevant Obligation with respect to ABS Failure to Pay Principal (or in respect of Obligations denominated other than in the Settlement Currency, its equivalent in the relevant currency at the relevant time, based on then current exchange rates).
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ABS Payment Requirement means USD 10,000 or its equivalent in the relevant Obligation Currency as of the occurrence of the ABS Failure to Pay or Potential Failure to Pay, as applicable.Any determination of a failure to pay will be made without giving effect to any limited recourse (or equivalent) provision of the Obligation which purports, upon the final realisation of the assets available for making payments in respect of the Obligation and/or any security or collateral relating thereto, to extinguish (in whole or in part) any liability to pay amounts unpaid in respect of an Obligation or to limit the amount payable in respect of an Obligation to the amount of funds or assets available to or received by the relevant ABS Reference Entity or any trustee or receiver in respect thereof (or, if applicable, the guarantor or insurer of such Obligation) for making such payment or to extinguish (in whole or in part) any right to pursue the payment of amounts unpaid in respect of an Obligation due to any insufficiency of such funds or assets. A failure to pay in respect of an Obligation of an ABS Reference Entity will not constitute an ABS Failure to Pay if, priorto delivering a Credit Event Notice, the Portfolio Swap Counterparty determines that the failure to make such payment will be corrected (with interest) on or before the earlier of the Termination Date and the next scheduled interest payment date of such obligation and is so corrected on or before such date.Pursuant to the "Deferment Proviso" where the terms of an Obligation (in effect as of the later of the Trade Date or the date that the related ABS Reference Entity or ABS Reference Obligation was included in the Reference Portfolio) provide for Interest Deferments (as defined below), any such Interest Deferment made in accordance with such terms will not constitute an ABS Failure to Pay (but may constitute an ABS Deferment Event). For the avoidance of doubt, where such terms do not provide for Interest Deferments, the occurrence of an Interest Deferment may constitute an ABS Failure to Pay.ABS Deferment Event: "ABS Deferment Event" means with respect to an Obligation, the addition of accrued interest to the principal amount of the Obligation, the issuance of an additional security or certificate or the separate recording of interest as capitalised interest, in each case in lieu of a cash payment of interest (an "Interest Deferment") where:
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ABS Payment Requirement means US$10,000.
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Related to ABS Payment Requirement

  • Payment Requirement means the amount specified as being applicable to the Reference Entity in the Standard or its equivalent in the relevant Obligation Currency (or, if no such amount is specified, USD 1,000,000 or its equivalent in the relevant Obligation Currency) in either case as of the occurrence of the relevant Failure to Pay or Potential Failure to Pay, as applicable.

  • Periodic Payment Requirement for any Calculation Period means the total dollar amount of Securitization Charge Collections reasonably calculated by the Servicer in accordance with Section 4.01 of the Servicing Agreement as necessary to be received during such Calculation Period (after giving effect to the allocation and distribution of amounts on deposit in the Excess Funds Subaccount at the time of calculation and that are projected to be available for payments on the Securitization Bonds at the end of such Calculation Period and including any shortfalls in Periodic Payment Requirements for any prior Calculation Period) in order to ensure that, as of the last Payment Date occurring in such Calculation Period, (a) all accrued and unpaid interest on the Securitization Bonds then due shall have been paid in full on a timely basis, (b) the Outstanding Amount of the Securitization Bonds is equal to the Projected Unpaid Balance on each Payment Date during such Calculation Period, (c) the balance on deposit in the Capital Subaccount equals the Required Capital Level and (d) all other fees and expenses due and owing and required or allowed to be paid under Section 8.02 of the Indenture as of such date shall have been paid in full; provided, that, with respect to any Annual True-Up Adjustment or Interim True-Up Adjustment occurring after the date that is one year prior to the last Scheduled Final Payment Date for the Securitization Bonds, the Periodic Payment Requirements shall be calculated to ensure that sufficient Securitization Charges will be collected to retire the Securitization Bonds in full as of the next Payment Date.

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $4,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).

  • Default Requirement means the amount specified as being applicable to the Reference Entity in the Standard, or its equivalent in the relevant Obligation Currency (or, if no such amount is specified, U.S.$ 10,000,000 or its equivalent in the relevant Obligation Currency) in either case, as of the occurrence of the relevant Credit Event.

  • Reserve Account Requirement means, with respect to the Closing Date and any Distribution Date, an amount equal to the lesser of: (A) 2.0% of the sum of (x) the initial Class A Note Balance, (y) the initial Class B Note Balance and (z) the initial Class C Note Balance; and (B) the sum of (x) the Class A Note Balance on such Distribution Date, (y) the Class B Note Balance on such Distribution Date and (z) the Class C Note Balance on such Distribution Date, after giving effect to the payment of principal on such Distribution Date.

  • Relevant Requirements means all applicable Law relating to bribery, corruption and fraud, including the Bribery Act 2010 and any guidance issued by the Secretary of State for Justice pursuant to section 9 of the Bribery Act 2010;

  • performance requirement means a requirement that:

  • End Client Requirements means the specific requirements of the End Client, as notified to the Supplier in writing;

  • Payment request means any request for contract financing payment or invoice payment submitted by the contractor under this contract.

  • Minimum Balance Requirements The minimum balance to open the account is $5.00. If the balance falls below $5 at any time, the account may be closed. See Balance Computation Method above. Fees and Charges; Other Requirements: See our Schedule of Fees at xxxxxxx.xxx/xxxx. Dividends: See Disclosures Concerning Dividends above. Current rates are disclosed on the Credit Union’s website.

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Payment Condition shall be deemed to be satisfied in connection with a Restricted Payment, Restricted Debt Payment, investment or Permitted Acquisition if:

  • Performance Requirements The ordering entity reserves the right to inspect and verify that all deliveries are in accordance with specifications, both at the point of delivery and at the point of use. For orders that specify an “authorized party” to receive and inspect deliveries and/or installations, acceptance and inspection procedures must be performed by the” authorized party” to be considered and accepted by the ordering entity. Products inspected at the time of use are subject to refusal and return requirements for issues of quality such as defects in manufacturing and/or workmanship. Products will not be considered accepted by the ordering entity until the installation is complete for the applicable products.

  • Project Requirements means the statement included in the Request for Proposal detailing the technical and other requirements of Canada which are to be met by the successful Bidder, and which are to be addressed in the Bid;

  • Minimum Payment Due means the least payment amount, specified in the “Statement of Account”, required to be paid by the “Principal Cardholder” on or before the “Payment Due Date” in order to keep the “Card Account” active. “Past Due Amount” from previous “Billing Cycle” will form part of the “Minimum Payment Due”.

  • Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Milestone Payment Date has the meaning set forth in Section 2.4(a).

  • Payment Conditions means, at the time of determination with respect to a proposed payment to fund a Specified Transaction, that:

  • Erroneous Payment Return Deficiency has the meaning assigned thereto in Section 10.12(d).

  • Reporting Requirement By January 31, 2017, the District will provide for OCR’s review and approval the Web Accessibility Policy drafted consistent with Item 1.

  • Alternative Compliance Payment or "ACP" means a payment of a certain dollar amount per megawatt hour, which a Retail Electricity Supplier may submit in lieu of supplying the minimum percentage of RECs required under Section 3.3.4 of this Regulation.

  • Minimum Requirements means the minimum requirements for available commercial structures. The minimum requirements may be found at this link: https://portlandgeneral.com/energy- choices/renewable-power/green-future-impact The minimum requirements may be updated from time to time to reflect PGE’s criteria from its latest Commission accepted renewable request for proposals.

  • Pretreatment requirements means any substantive or procedural requirement related to pretreatment, other than a pretreatment standard, imposed on an industrial user.

  • Performance Condition means any performance condition imposed under rule 4.1 (Performance Conditions);

  • Deferred Sales Charge Payment Date means October 10, 2013 and the tenth day of each month thereafter through February 10, 2014.