Approved Obligor Termination Event definition

Approved Obligor Termination Event means, with respect to a particular Approved Obligor, (i) the failure of the United States House of Representatives to appropriate sufficient funds to the applicable agency or department of the U.S. Government of which such Approved Obligor is a part (thereby preventing such Approved Obligor from making payments to the relevant Seller or the Administrative Agent (for the ratable benefit of the Purchasers)); or (ii) the occurrence of a Non-Payment Event.
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Approved Obligor Termination Event means, with respect to a particular Approved Obligor, (i) the occurrence of a Shutdown of the U.S. Government affecting such Approved Obligor that lasts at least five (5) Business Days or (ii) the occurrence of a Non-Payment Event.
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Approved Obligor Termination Event means, with respect to a particular Approved Obligor, (i) if such Approved Obligor is an Approved State and Local Obligor, a Shutdown of the applicable State and Local Obligor that lasts at least one (1) Business Day, (ii) if such Approved Obligor is not an Approved State and Local Obligor, a Shutdown of the U.S. Government affecting such Approved Obligor that lasts at least one (1) Business Day, or (iii) the occurrence of a Non-Payment Event.
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Examples of Approved Obligor Termination Event in a sentence

  • Following the occurrence of an Approved Obligor Termination Event, the Administrative Agent may, and shall, at the direction of the Required Purchasers, revoke its approval of the relevant Approved Obligor without providing any prior written notice to the Seller Representative or any other Person.

  • Following the occurrence of an Approved Obligor Termination Event, the Purchaser may revoke its approval of the relevant Approved Obligor without providing any prior written notice to the Seller Representative or any other Person.

  • The Purchaser may, in its sole discretion, by providing at least 30 days prior written notice to the Seller Representative, revoke its approval of any Approved Obligor; provided, however, that following the occurrence of an Approved Obligor Termination Event, the Purchaser may revoke its approval of the relevant Approved Obligor without providing any prior written notice to the Seller Representative or any other Person.


More Definitions of Approved Obligor Termination Event

Approved Obligor Termination Event means, with respect to a particular Approved Obligor, (i) if such Approved Obligor is an Approved State and Local Obligor, a Shutdown of the applicable State
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Approved Obligor Termination Event means, with respect to a particular Approved Obligor, (i) the failure of the United States House of Representatives to appropriate sufficient funds to the applicable agency or department of the U.S. Government of which such Approved Obligor is a part (thereby preventing such Approved Obligor from making payments to the relevant Seller or the Purchaser); or (ii) the occurrence of a Non-Payment Event.
Sample 1
Approved Obligor Termination Event means, with respect to a particular Approved Obligor, (i) the occurrence of a Shutdown of theU.S. Government affecting such Approved Obligor that lasts at least five (5) Business Days or (ii) the occurrence of a Non-Payment Event. “Asset Interest” as defined in Section 2.1(b).
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Related to Approved Obligor Termination Event

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Term SOFR Transition Event means the determination by the Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance with Section 2.14 that is not Term SOFR.

  • Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark:

  • Early Termination Event has the meaning specified in Section 9.2.

  • Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.