Credit Enhancement Event definition

Credit Enhancement Event shall have the meaning set forth in the definition of "Class B Rate".
Sample 1Sample 2Sample 3
Credit Enhancement Event means any of the events and circumstances listed in Clause 16.1.
Sample 1
Credit Enhancement Event means (i) prior to May 15, 2009 the completion of one or more private equity financings or an Initial Public Offering in which Borrower receives gross cash proceeds of at least Thirty Five Million Dollars ($35,000,000) in the aggregate; or (ii) on May 15, 2009 Borrower (whether independently or in conjunction with a third party collaborator) shall have (x) three different compounds in FDA Phase I Clinical Studies (which shall mean a human clinical trial in any country that satisfies the requirements of 21 CFR §312.21 (a)) or a further state of development or (y) if there are only two different compounds in clinical trials, at least one compound must be in FDA Phase II Clinical Studies (which shall mean a human clinical trial in any country that satisfies the requirements of 21 CFR §312.21 (a)) or a further state of development with at least two distinct indications or medical conditions. For purposes of clarity, examples of indications include, but are not limited to: non-small cell lung cancer, prostate cancer, colon cancer, breast cancer, and cancerous conditions where treatment is based upon biomarker measurements independent of the cancer’s tissue of origin.
Sample 1

Examples of Credit Enhancement Event in a sentence

  • In the event that a Supplemental Credit Enhancement Event occurs, Greenwood as Servicer may cause the Supplemental Credit Enhancement Amount to be funded by Series Excess Servicing and other amounts paid to the Trustee as administrator of the Credit Enhancement to fund the Available Class B Credit Enhancement Amount, or may request that the Credit Enhancement Provider make an additional loan in the amount of the Supplemental Credit Enhancement Amount.

  • In the event that a Supplemental Credit Enhancement Event occurs, Discover Bank as Servicer may request that the Credit Enhancement Provider make an additional loan in the amount of the Supplemental Credit Enhancement Amount.

  • In the event that a Supplemental Credit Enhancement Event occurs, Discover Bank as Servicer may cause the Supplemental Credit Enhancement Amount to be funded by Series Excess Servicing and other amounts paid to the Trustee as administrator of the Credit Enhancement to fund the Available Class B Credit Enhancement Amount, or may request that the Credit Enhancement Provider make an additional loan in the amount of the Supplemental Credit Enhancement Amount.

  • In addition to the foregoing, the Master Servicer shall notify Moodx'x xx the occurrence of a Supplemental Credit Enhancement Event as soon as practicable after such occurrence, and shall notify Moodx'x xx advance of its implementation of the form and provider of the Supplemental Credit Enhancement Amount, if any.

  • Upon the occurrence of a Supplemental Credit Enhancement Event, Discover Bank as Servicer shall, within 60 days of notice from Standard & Poor’s of the withdrawal or downgrade (or such longer period as may be agreed to by Standard & Poor’s), arrange for the payment of the Supplemental Credit Enhancement Amount, if any, by a Person other than Discover Bank to the Trustee as administrator of the Credit Enhancement for application in accordance with the provisions of the Credit Enhancement Agreement.

  • In addition to the foregoing, the Master Servicer shall notify Mxxxx’x of the occurrence of a Supplemental Credit Enhancement Event as soon as practicable after such occurrence, and shall notify Mxxxx’x in advance of its implementation of the form and provider of the Supplemental Credit Enhancement Amount, if any.

  • In addition to the foregoing, the Master Servicer shall notify Moody's of the occurrence of a Supplemental Credit Enhancement Event ax xxxx as practicable after such occurrence, and shall notify Moody's in advance of its implementation of the form and provider of txx Xxxxlemental Credit Enhancement Amount, if any.

  • Upon the occurrence of a Credit Enhancement Event, the relevant Servicer shall ensure that all outstanding bills of exchange and promissory notes are endorsed to the Purchaser on behalf and at the expenses of the relevant Originator.

  • A "Supplemental Credit Enhancement Event" will occur the first time Standard & Poor's Ratings Services withdraws the long-term debt or deposit rating of Greenwood (or an additional seller, if any) or reduces this rating below BBB -.

  • Additional Credit Support Amount The lesser of (x)(i) $26,315,800 prior to the occurrence of a Supplemental Credit Enhancement Event or (ii) $23,684,220 following the occurrence of a Supplemental Credit Enhancement Event and (y) the difference between the Maximum Class B Credit Enhancement Amount (after giving effect to an Alternative Credit Support Election) and the Available Class B Credit Enhancement Amount (immediately before giving effect to the Alternative Credit Support Election).

Related to Credit Enhancement Event

  • Credit Enhancement means, with respect to this Confirmation or any other Relevant Agreement, any credit enhancement or other credit support arrangement in support of the obligations of Dealer or Counterparty hereunder or thereunder or with respect hereto or thereto, including any guarantee or collateral arrangement (including any pledge, charge, mortgage or other security interest in collateral or title transfer arrangement), trust or similar arrangement, letter of credit, transfer of margin or any similar arrangement.

  • Servicer Replacement Event means any one or more of the following that shall have occurred and be continuing:

  • Credit Enhancement Provider means, with respect to any Securities, any person issuing, funding or otherwise making available, for the benefit of Securityholders or any party to a Serviced Corporate Trust Contract, an asset as an enhancement of the credit quality or liquidity of any Securities or the mortgage assets or other assets pledged for or underlying such Securities, such as a letter of credit, surety bond, insurance policy, guaranty, reserve fund pledge or collateral undertaking.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Credit Enhancement Agreement means the Agreement among the Sellers, the Master Servicer, the Trustee and the Credit Enhancement Provider with respect to the Credit Enhancement.

  • Credit Enhancements means surety bonds, insurance policies, letters of credit, guarantees and other

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Replacement Event shall have the meaning specified in Section 11.16.

  • Swap Counterparty Trigger Event A Swap Counterparty Trigger Event shall have occurred if any of a Swap Default with respect to which the Swap Counterparty is a Defaulting Party, a Termination Event with respect to which the Swap Counterparty is the sole Affected Party or an Additional Termination Event with respect to which the Swap Counterparty is the sole Affected Party has occurred.

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Conduit Credit Enhancer shall have the meaning assigned to such term in Section 14(d).

  • Credit Enhancement Agreements means, collectively, any documents, instruments, guarantees or agreements entered into by the Issuer, any of its Restricted Subsidiaries or any Securitization Entity for the purpose of providing credit support (that is reasonably customary as determined by Issuer’s senior management) with respect to any Permitted Funding Indebtedness or Permitted Securitization Indebtedness.

  • Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.

  • Credit Enhancement Percentage For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the sum of the aggregate Certificate Principal Balances of the Mezzanine Certificates and the Class CE Certificates, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans, calculated after taking into account distributions of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date.

  • Payment Event means any of the following:

  • Downgrade Event means, unless otherwise specified on the Cover Sheet, for a Party means that Party’s Credit Rating falls below BBB- from S&P or Baa3 from Moody’s or becomes no longer rated by either S&P or Moody’s.

  • Liquidity Provider Ratings Event means the Liquidity Provider shall fail to maintain at any time short-term debt ratings in one of the two highest rating categories from the Requisite NRSROs.

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Special Servicer Termination Event shall have the meaning given to such term in the Lead Securitization Servicing Agreement.

  • Credit Enhancer means the Credit Enhancer identified in the Adoption Annex.

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

  • Reserve Account Funding Date means the Payment Date selected by the Servicer on behalf of the Issuer which occurs not later than the earliest of the Payment Date with respect to the Monthly Period which commences three months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to Section 4.13); provided, however, that if the Rating Agency Condition is satisfied, the Issuer may postpone the Reserve Account Funding Date.

  • Note Insurer Default The existence and continuance of any of the following: