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 3%.
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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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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:
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Examples of Cash Trapping Condition in a sentence

  • The Reserve Amount is equal to Euro 10,149,587.04, provided that (i) upon fulfillment of the Cash Trapping Condition, the Reserve Amount is increased by an amount equal to the Additional Reserve Amounts, and (ii) on the Payment Date on which all the Rated Notes are redeemed in full, the Reserve Amount is equal to 0 (zero).

  • The BCC Fornacette Reserve Amount is equal to Euro 3,707,273.42, the BCC Castagneto Reserve Amount is equal to Euro 3,391,652.82 and the BP Lajatico Reserve Amount is equal to Euro 3,050,660.80, provided that(i) upon fulfillment of the Cash Trapping Condition, each Relevant Reserve Amount will be increased by an amount equal to the Relevant Additional Reserve Amount, and (ii) on the Payment Date on which all the Rated Notes are redeemed in full, each Relevant Reserve Amount will be equal to 0 (zero).

  • The Reserve Amount is equal to Euro 17,318,104.05, provided that (i) upon fulfillment of the Cash Trapping Condition, the Reserve Amount is increased by an amount equal to the Additional Reserve Amounts, and (ii) on the Payment Date on which all the Rated Notes are redeemed in full, the Reserve Amount is equal to 0 (zero).

  • On each Payment Date on which the Pre-Acceleration Order of Priority applies, and provided that the Cash Trapping Condition is not met, the amount of the Issuer Available Funds available after their application on such Payment Date to all items of higher priority to the payment of principal on each Limited Recourse Loan under the relevant Order of Priority will be used towards redemption of such Limited Recourse Loan in an amount equal to the relevant Limited Recourse Loan Principal Payment.

  • On each Payment Date on which the Pre-Acceleration Order of Priority applies, and provided that the Cash Trapping Condition is not met, the amount of the Issuer Available Funds available after their application on such Payment Date to all items of higher priority to the payment principal on the Limited Recourse Loan will be used towards redemption of the Limited Recourse Loan in an amount equal to theLimited Recourse Loan Principal Payment.


More Definitions of Cash Trapping Condition

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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Related to Cash Trapping Condition

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

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

  • Payment Condition at any time of determination with respect to any Specified Transaction, that the following conditions are all satisfied: (x) (1) 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) and (2) the Specified Availability on the date of such Specified Transaction (divided by Availability as of such time of determination and expressed as a percentage), in each case exceed the applicable Availability Percentage (as defined below), (y) unless the Fixed Charge Condition (as defined below) is satisfied (to the extent applicable), the Parent Borrower shall be in Pro Forma Compliance with a minimum Consolidated Fixed Charge Coverage Ratio of at least 1.00:1.00 and (z) if reasonably requested by the Administrative Agent, the Borrower Representative shall have delivered to the Administrative Agent (i) a copy of calculations required by preceding clause (y) in reasonable detail and (ii) a calculation of Specified Unrestricted Cash. As used herein, the following terms shall have the following meanings: (i) “Availability Percentage” shall mean (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 12.5%; (b) in respect of (A) any investment or acquisition permitted pursuant to clause (u) of the definition of “Permitted Investments” or (B) clause (c)(i) of the definition of “Permitted Acquisitions,” 10.0%; (c) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 12.5%; (d) in respect of any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b), 10.0%; and (e) in respect of any Asset Sale that would otherwise have to comply with Subsection 8.5, 10.0%; and (ii) “Fixed Charge Condition” shall mean 30-Day Specified Excess Availability (divided by Availability as of such time of determination and expressed as a percentage) exceeds: (a) in respect of any Restricted Payment pursuant to Subsection 8.3(k), 17.5%; (b) in respect of any acquisition permitted pursuant to clause (c)(i) of the definition of “Permitted Acquisitions”, 15.0%; (c) in respect of any investment permitted pursuant to clause (u) of the definition of “Permitted Investments”, 15.0%; (d) in respect of any payment, repurchase or redemption pursuant to Subsection 8.6(a), 15.0%; and (e) in respect of (A) any merger, consolidation, amalgamation or asset sale pursuant to Subsection 8.2(a) or 8.2(b) or (B) any Asset Sale that would otherwise have to comply with Subsection 8.5, 15.0%.

  • 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.

  • Acute condition means a disease, illness or injury that is likely to respond quickly to treatment which aims to return the person to his or her state of health immediately before suffering the disease/ illness/ injury which leads to full recovery.

  • 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 any specified transaction or payment, 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 Tender in accordance with this Agreement, 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 pursuant to a Remarketing, (ii) purchased by the Liquidity Provider pursuant to the Purchase Obligation, or (iii) if not successfully remarketed pursuant to a Remarketing 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:

  • Poor foundation conditions means those areas where features exist which indicate that a natural or man-induced event may result in inadequate foundation support for the structural components of an SWLF unit.

  • 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 5(a)(v) hereof;

  • 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).

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).