Cash Trapping Condition definition

Cash Trapping Condition means, with reference to any Payment Date, the event which occurs when the Cumulative Net Default Ratio is equal to or higher than 4%.
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Cash Trapping Condition means, with reference to any Payment Date, the event which occurs when the Cumulative Net Default Ratio is equal to or higher than 4%. On each Payment Date before the delivery of a Trigger Notice, and provided that the Cash Trapping Condition is not met, the positive difference (if any) between:
Sample 1
Cash Trapping Condition means, with reference to any Payment Date, the event which occurs when the Cumulative Gross Default Ratio is equal to or higher than 5%, provided that no Cash Trapping Condition shall be deemed to be met on the Final Maturity Date of the Notes or, if earlier, on the Payment Date on which the Rated Notes are redeemed in full. LIQUIDITY RESERVE Starting from the First Payment Date the Issuer will establish a liquidity reserve fund (the “Liquidity Reserve”) by crediting into each Liquidity Reserve Account the relevant Liquidity Reserve Amount in accordance with Pre-Acceleration Order of Priority (the Liquidity Reserve in relation to the BPB Liquidity Reserve Account, the “BPB Liquidity Reserve” and the Liquidity Reserve in relation to the CRO Liquidity Reserve Account, the “CRO Liquidity Reserve”). The Liquidity Reserve will be composed by the BPB Liquidity Reserve and the CRO Liquidity Reserve and (i) the BPB Liquidity Reserve will form part of the BPB Available Funds on each Payment Date (ii) the CRO Liquidity Reserve will form part of the CRO Available Funds on each Payment Date (iii) the Liquidity Reserve will form part of the Available Funds on each Payment Date on which the Acceleration Order of Priority applies, and (iv) the Issuer will, on each Payment Date on which the Pre- Acceleration Order of Priority applies and in accordance thereto, credit into each Liquidity Reserve Account an amount equal to the relevant Liquidity Reserve Amount due in respect of such Payment Date.
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More Definitions of Cash Trapping Condition

Cash Trapping Condition means, for so long as the Senior Notes are outstanding, the condition that will be deemed to be satisfied with reference to each Calculation Date if, during the relevant Collection Period, the Cumulative Net Default Ratio is lower than:
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Related to Cash Trapping Condition

  • Rating Condition has the meaning specified in Section 2.06(c)(ii).

  • Nonconforming zoning condition means a physical improvement on a property that does not conform with current zoning standards.

  • Qualifying condition means a condition described in Section 26-61a-104.

  • Payment Condition shall be deemed to be satisfied in connection with a Restricted Payment, Restricted Debt Payment, investment or Permitted Acquisition if:

  • Normal Operating Conditions means those Service conditions which are within the control of Grantee. Those conditions which are not within the control of Grantee include, but are not limited to, natural disasters, civil disturbances, power outages, telephone network outages, and severe or unusual weather conditions. Those conditions which are ordinarily within the control of Grantee include, but are not limited to, special promotions, pay-per-view events, rate increases, regular peak or seasonal demand periods, and maintenance or upgrade of the Cable System.

  • Funding Conditions With respect to any proposed Funding Date, the following conditions:

  • Liquidity Condition means an event of immediate termination or suspension as specified in a Liquidity Facility, upon the occurrence of which the Standby Purchaser is not obligated to purchase Multi-Modal Bonds, and, accordingly, such Bonds are not subject to tender for purchase.

  • Life-threatening condition means any disease or condition from which the likelihood of death is probable unless the course of the disease or condition is interrupted.

  • Change in condition means a change in physical condition of the employee as well as any change

  • Abnormal Condition means any condition on the Interconnection Facilities which, determined in accordance with Good Utility Practice, is: (i) outside normal operating parameters such that facilities are operating outside their normal ratings or that reasonable operating limits have been exceeded; and (ii) could reasonably be expected to materially and adversely affect the safe and reliable operation of the Interconnection Facilities; but which, in any case, could reasonably be expected to result in an Emergency Condition. Any condition or situation that results from lack of sufficient generating capacity to meet load requirements or that results solely from economic conditions shall not, standing alone, constitute an Abnormal Condition.

  • Abnormal Market Conditions means conditions contrary to Normal Markets Conditions e.g. when there is low liquidity in the market or rapid price movements in the market or Price Gaps.

  • Review Conditions means (i) the Delinquency Percentage for any Payment Date exceeds the Delinquency Trigger for that Payment Date and (ii) the Noteholders or Note Owners, as applicable, have voted, pursuant to Section 2.03(d) of the Receivables Purchase Agreement, to direct an Asset Representations Review of the Subject Receivables.

  • Acute condition means that the individual is medically unstable. Such an individual requires frequent monitoring by medical professionals, such as physicians and registered nurses, in order to maintain his or her health status.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Payment Conditions means, at the time of determination with respect to a proposed payment to fund a Specified Transaction, that:

  • Failed Remarketing Condition—Unpurchased VRDP Shares means that a Beneficial Owner (other than the Liquidity Provider or its affiliates) continues to hold VRDP Shares, that were subject to a valid Tender, after any Purchase Date as a result of the failure by the Liquidity Provider for any reason to purchase such VRDP Shares pursuant to the Purchase Obligation (whether as a result of an unsuccessful Remarketing or a Mandatory Purchase) ("Unpurchased VRDP Shares"), until such time as all Outstanding Unpurchased VRDP Shares are (i) successfully Remarketed, (ii) purchased by the Liquidity Provider pursuant to the Purchase Obligation, or (iii) if not successfully Remarketed or purchased by the Liquidity Provider pursuant to the Purchase Obligation, the subject of a validly tendered Notice of Revocation (or any combination of the foregoing); and any Unpurchased VRDP Shares shall be deemed tendered for Remarketing until the earliest to occur of the foregoing events (i), (ii) or (iii) with respect to such Unpurchased VRDP Shares.

  • Minimum Condition has the meaning set forth in Annex I.

  • Release Condition means the following:

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Failed Remarketing Condition means a Failed Remarketing Condition-Purchased VRDP Shares or a Failed Remarketing Condition-Unpurchased VRDP Shares.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Standard Listing Conditions has the meaning ascribed thereto in subsection 4(a)(iv);

  • Release Conditions mean the following conditions: (i) Company has received the Executive’s executed Release and (ii) any rescission period applicable to the Executive’s executed Release has expired.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Unsafe condition as used in this clause means the actual or potential exposure of contractor or Government employees to a hazardous material as defined in Federal Standard No. 313, and any revisions thereto during the term of this contract, or any other material or working condition designated by the Contracting Officer's Technical Representative (COTR) as potentially hazardous and requiring safety controls.

  • Trading Price Condition shall have the meaning specified in Section 14.01(b)(i).