Assignment Event definition

Assignment Event means the occurrence of any of the following:

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Assignment Event shall have occurred if (a) Lender ceases doing business or Lender's existence is terminated by sale, dissolution, merger or otherwise, (b) any assignment is made for the benefit of Lender's creditors, (c) any receiver of Lender is appointed, (d) any insolvency, liquidation or reorganization proceeding under the U.S. Bankruptcy Code or otherwise shall be filed by or against Lender, or (e) an event of default shall have occurred under, and the payment of any indebtedness of Lender shall have been accelerated under, the terms of any loan agreement pursuant to which Lender has incurred debt. Upon an Assignment Event, Lender shall execute and deliver or cause to be executed and delivered such further instruments of conveyance, assignment and transfer and shall take such other action as Participant may reasonably request to give effect to the foregoing assignment.

Assignment Event has the meaning set forth in Section 4.07(a).

Examples of Assignment Event in a sentence

Lender hereby assigns and transfers to Participant all right, title and interest of Lender, if any, in and to Participant's Participation interest in the Participation Loan; provided, however, that, notwithstanding anything to the contrary herein, such assignment shall become effective only upon the occurrence of an Assignment Event (as defined below).
Upon an Assignment Event, Lender shall execute and deliver or cause to be executed and delivered such further instruments of conveyance, assignment and transfer and shall take such other action as Participant may reasonably request to give effect to the foregoing assignment.
The Seller acknowledges that the Indenture Trustee is required to review the Mortgage Notes and Related Documents in the case of any delivery required upon the occurrence of an Assignment Event pursuant to Sections 2.01(d) and (e) of the Sale and Servicing Agreement and if the Indenture Trustee finds any document or documents not to have been properly executed, or to be missing or to be defective in any material respect, the Indenture Trustee is required to notify the Seller.
For clarity, this Section 12.7(e) shall apply only one time after the first occurrence of the Assignment Event.
In the event of an Assignment Event, Licensee shall have the right to provide Ganeden and the escrow agent appropriate notice and obtain a release of such assignment agreements.

More Definitions of Assignment Event

Assignment Event. The 30th day following either (i) the occurrence and continuance of an Event of Default, (ii) the Seller's long-term unsecured debt rating is reduced below A2 by Moody's or A by Standard & Poor's or (iii) the suspension, termination or withdrawal of the Seller's long-term unsecured debt rating by Moody's and Standard & Poor's.

Assignment Event. The 30th day following either (i) the Seller's long-term unsecured debt rating being reduced to below "A2" by Mood▇'▇ ▇▇▇estors Service, Inc. or (ii) the suspension, termination or withdrawal of the Seller's long-term unsecured debt rating by Mood▇'▇ ▇▇▇estors Service, Inc. (provided, however, that if such suspension, termination or withdrawal is for reasons other than credit reasons, the Seller shall have 90 days to provide a substitute rating agency acceptable to the Trustee).

Assignment Event. The 15th day following the day on which the senior, unsecured long-term debt rating of AGFC is less than "Baa3" by Moody's or "BBB-" by S&P.

Assignment Event. As defined in the Asset Sale Agreement.

Assignment Event. OHC's long term unsecured senior debt rating is below "Baa3" by ▇▇▇▇▇'▇ or "BBB-" by Standard & Poor's or is withdrawn by ▇▇▇▇▇'▇ or Standard & Poor's.

Assignment Event. The occurrence of any of the following (unless otherwise waived by the Note Insurer): (i) a Servicer Default occurs and continues for 30 days; (ii) FUNB's long-term unsecured debt rating is reduced below A2 by Moody's or A by S&P; (iii) the suspension, termination or withdrawal ▇▇ ▇▇▇B's long-term unsecured debt rating by Moody's and S&P's; (iv)

Assignment Event. The occurrence of any of the following: (i) an Event of Default occurs and continues for 30 days; (ii) FUNB's long-term unsecured debt rating is reduced below "A3" by Moody's, or "A-" by S&P; (iii) the suspension, termination or withdra▇▇▇ ▇▇ FUNB's long-term unsecured debt rating by Moody's; or (iv) FUNB is no longer acting as Custodian.