Auction Termination definition

Auction Termination. The termination of the Trust Fund hereunder pursuant to Section 9.01(a)(i) hereof.
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Examples of Auction Termination in a sentence

  • The Trustee shall accept the highest such bid, provided that such bid equals or exceeds the amount described in the definition of "Auction Termination Price." Any sale pursuant to such auction process must occur no earlier than the second day of the calendar month that includes the Distribution Date on which the proceeds of such sale will be distributed to the Certificateholders.

  • Any purchase shall be accomplished by deposit into the Certificate Account of the amount paid by the winning bidder if an Auction Termination has occurred or the amount described in the definition of "Clean Up Call Price" and only following the delivery of an Opinion of Counsel in form and substance acceptable to the Trustee that such termination is a "Qualified Liquidation" under Section 860F of the Code.

  • Any purchase shall be accomplished by deposit into the Certificate Account of the Auction Termination Amount paid by the winning bidder if an Auction Termination has occurred or the Clean Up Call Price in the event the Servicer exercises a Clean Up Call and only following the delivery of an Opinion of Counsel in form and substance acceptable to the Trustee that such termination is a "Qualified Liquidation" under Section 860F of the Code.

  • Notwithstanding anything herein to the contrary, only an amount equal to the Auction Termination Price or the Clean Up Call Price, reduced in each case by the portion thereof consisting of any Swap Termination Payment (such portion, the "Swap Optional Termination Payment"), shall be made available for distribution to the Certificates.

  • Notwithstanding anything to the contrary herein, the Auction Termination Amount received by the Trustee upon the completion of a successful auction or the Clean Up Call Price paid by the Servicer shall be deposited by the Trustee directly into the Certificate Account promptly upon receipt of such amount by the Trustee.

  • Notwithstanding anything to the contrary herein, the Auction Termination Amount received by the Trustee or the Clean Up Call Price paid by the NIM Insurer or the Servicer shall be deposited by the Trustee directly into the Certificate Account promptly upon receipt of such amount by the Trustee.

  • Notwithstanding anything to the contrary herein, the Auction Termination Amount received by the Trustee or the Clean Up Call Price paid by the Servicer shall be deposited by the Trustee directly into the Certificate Account promptly upon receipt of such amount by the Trustee.

  • If upon the Auction Termination Date, the Investor is the Successful Investor, the Company shall thereafter provide the Investor with copies of all material written materials received from any taxing authority in respect of any material Tax Contests, shall consult with the Investor in good faith regarding the conduct of such Tax Contest, and shall consider in good faith suggestions made by the Investor and its Representatives regarding the conduct of such Tax Contests.

  • Seller agrees that it will use its reasonable best efforts to obtain entry by the Bankruptcy Court of (i) the Bidding Procedures Order within ten (10) days of the date of execution of this Agreement and (ii) the Approval Order promptly following the Auction Termination Date.

  • In the event the Trustee is not so reimbursed by the highest Qualified Bidder or the Auction Termination does not take place, the Depositor will reimburse the Trustee for such fees and expenses.

Related to Auction Termination

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • Accretion Termination Date As defined in the Series Supplement.

  • Restriction Termination Date means the first day on which the Board of Directors of the Corporation determines that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.

  • Special Termination Notice means the Notice of Special Termination substantially in the form of Annex VII to this Agreement.

  • Partial Termination has the meaning set forth in the Section 6.3(a).

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of (1) two years following such Change in Control or (2) the Executive’s death.

  • Lease Termination Date means the last day of the Lease Term.

  • Potential Termination Event means an event which, with the passage of time or the giving of notice, or both, would constitute a Termination Event.

  • Event Termination Date See Section 2(e) hereof.

  • Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.

  • Servicer Termination Test With respect to any Distribution Date, the Servicer will fail the Servicer Termination Test if the Realized Loss Percentage for the Mortgage Loans exceeds the applicable percentages set forth below with respect to such Distribution Date: January 2006 through December 2007 2.75% January 2008 through December 2008 3.25% January 2009 through December 2009 3.75% January 2010 and thereafter 4.50%

  • Company Termination Fee has the meaning set forth in Section 7.3(a).

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Termination After Change in Control means either of the following events occurring within twelve (12) months after a Change in Control:

  • Loan Termination Date means the earliest to occur of the following: (a) November , 2009, (b) the date the Obligations are accelerated pursuant to this Agreement or the Revolving Note and (c) the date the Bank has received (i) notice in writing from the Borrower of the Borrower’s election to terminate this Agreement or the Revolving Note or (ii) indefeasible payment in full of the Obligations.

  • Initial Termination Date has the meaning set forth in Section 9.1(b)(i).

  • Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.

  • Normal Termination means termination of employment or service with the Company and Affiliates: (i) by the Optionee; (ii) upon retirement; (iii) on account of death or Disability; or (iv) by the Company, a Subsidiary or Affiliate without Cause.

  • Company Termination Event has the meaning set forth in Section 10 hereof.

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).

  • Servicer Termination Notice Defined in Section 6.15.

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

  • Termination Fee Event has the meaning ascribed thereto in Section 8.2(2).

  • Purchase Termination Date means the date upon which the Transferor shall cease, for any reason whatsoever, to make purchases of Receivables from the Seller under the Receivables Purchase Agreement or the Receivables Purchase Agreement shall terminate for any reason whatsoever.

  • Automatic Termination shall have the meaning set forth in Section 2.3.2.

  • Extended Termination Date has the meaning specified in Section 2.16(c).