Amortisation Threshold Date means the first Cut-Off Date as of which the Aggregate Outstanding Note Principal Amount is equal to or less than 50 % of the initial Aggregate Outstanding Note Principal Amount as of the Note Issuance Date;
Amortisation Threshold Date means the first Cut-Off Date as of which the Aggregate Outstanding Note Principal Amount is less than 50% of the aggregate initial Note Principal Amounts of all Notes.
Amortisation Threshold Date means the first Cut-Off Date as of which the Aggregate Outstanding Note Principal Amount is equal to or less than 50 % of the initial Aggregate Outstanding Note Principal Amount as of the Note Issuance Date. After all amounts of interest and principal due in respect of the Notes have been paid, the Reserve Fund will be reduced to zero. Commingling ReserveIf, at any time as long as the Seller is the Servicer, a Commingling Reserve Trigger Event occurs, the Seller is required to transfer, within fourteen (14) calendar days, the Commingling Reserve Amount to an account of the Issuer held with the Account Bank (the "Commingling Reserve Account"). If, at any time as long as the Seller is the Servicer, the balance credited to the Commingling Reserve Account as of any Cut-Off Date following the occurrence of a Commingling Reserve Trigger Event is less than the Commingling Reserve Amount as calculated as of such Cut-Off Date, taking into account any amounts to be credited to the Commingling Reserve Account on the immediately following Payment Date pursuant to the Pre-Enforcement Priority of Payments, the Servicer will be required to transfer an amount equal to such shortfall (as determined as of such Cut-Off Date) on the immediately following Payment Date to the Commingling Reserve Account. A "Commingling Reserve Trigger Event" will have occurred if, at any time, (i) Santander Consumer Finance, S.A. ceases to have the Commingling Required Rating, (ii) Santander Consumer Finance, S.A. ceases to own, directly or indirectly, at least 75 % of the share capital of the Seller or (iii) S&P notifies any of the Seller, the Issuer or the Transaction Security Trustee in writing that the Seller is no longer deemed eligible under the then current applicable rating criteria of S&P unless in each case of (i) and (ii) the Seller has at least the Commingling Required Rating.
More Definitions of Amortisation Threshold Date
Amortisation Threshold Date means the first CUT-OFF DATE as of which the AGGREGATE OUTSTANDING NOTE PRINCIPAL AMOUNT is less than the initial REQUIRED RESERVE AMOUNT on the NOTE ISSUANCE DAY;
Amortisation Threshold Date means the first Calculation Date as of which the Aggregate Note Principal Amount Outstanding is less than 50 per cent. of the Aggregate Note Principal Amount Outstanding on the Closing Date;
Amortisation Threshold Date means the first Cut-Off Date as of which the Aggregate Note Principal Amount is less than 50% of the Initial Aggregate Note Principal Amount;