Cash Reserve Event definition

Cash Reserve Event means as of any Settlement Date, (i) the arithmetic average of the Net Spread for [*], (ii) the Delinquency Ratio is greater than [*], or (iii) the average Payment Rate for [*], or [*]; provided, however, that following each occurrence of a Cash Reserve Event, such trigger shall remain in effect until [*]";
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Cash Reserve Event means as of any Settlement Date, (i) the arithmetic average of the Net Spread for [**], (ii) the Delinquency Ratio is greater than [**], or (iii) the arithmetic average of the Payment Rate for [**]; provided, however, that following each occurrence of a Cash Reserve Event, such trigger shall remain in effect until [**];
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Cash Reserve Event shall occur in respect of the Series 2023-2 Ownership Interest if, on a Calculation Day, the number, expressed as a percentage (the “Excess Spread Percentage”), equal to twelve times:
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Examples of Cash Reserve Event in a sentence

  • Following the occurrence and during the continuation of a Cash Reserve Event, the Trust shall have the right to require the Seller or the Servicer to, and upon such request the Seller or the Servicer, as applicable, shall, assemble copies of all of the Contracts and make the same available to the Backup Servicer or other third-party custodian specified by, and at a place selected by, the Trust within 30 days.

  • The Seller may, provided that the Rating Agency Condition has been satisfied, provide Additional Property equal to, and in lieu of, any amount required to be deposited to the Cash Reserve Account within 15 days following the occurrence of a Cash Reserve Event.

  • No Termination Event and no Cash Reserve Event and no event that, with the giving of notice or the passing of time, or both, would constitute either a Termination Event or a Cash Reserve Event shall have occurred and be continuing.

  • If deposits are required to be made in respect of both a Cash Reserve Event and the Pre-Accumulation Reserve Period, they shall be deemed to have been made, firstly, in respect of the Pre- Accumulation Reserve Period and, once all required deposits in respect thereof have been made, then in respect of the Cash Reserve Event.

  • Following the occurrence and during the continuation of a Cash Reserve Event, the Financial Services Agent shall have the right to require the Seller or the Servicer to, and upon such request the Seller or the Servicer, as applicable, shall, assemble copies of all of the Contracts and make the same available to the Backup Servicer or other third-party custodian specified by, and at a place selected by, the Financial Services Agent within 30 days.


More Definitions of Cash Reserve Event

Cash Reserve Event means [*];
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Related to Cash Reserve Event

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Non-Synchronized Reserve Event means a request from the Office of the Interconnection to generation resources able and assigned to provide Non-Synchronized Reserve in one or more specified Reserve Zones or Reserve Sub-zones, within ten minutes to increase the energy output by the amount of assigned Non-Synchronized Reserve capability.

  • Capital Reserve Fund means the reserve fund created and established by the Authority in

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.