Cumulative Step Up Event means the occurrence of all or a combination of (i) Scope 1 and 2 Emissions Event and/or (ii) Scope 3 Emissions Event and/or (iii) ECS Equipped Service Areas Event, as indicated as applicable in the relevant Final Terms and, in each case, as so specified as being the Cumulative Step Up Event in the relevant Final Terms.

Cumulative Step Up Event means the occurrence of both (a) a Scope 1 and Scope 2 GHG Emissions Event and (b) a Scope 3 GHG Emissions Event, it being understood that the occurrence of any such event shall not result in the occurrence of an Event of Default under these Conditions;

Cumulative Step Up Event means the occurrence of any of (a) a Net Energy Consumption Reduction Event; and/or (b) a Scope 1 and 2 market-based GHG Emissions Reduction Event; and/or

Examples of Cumulative Step Up Event in a sentence

Such notice shall be irrevocable and shall specify the Initial Rate of Interest (in the case of Fixed Rate Notes) or the Initial Margin (in the case of Floating Rate Notes) and the relevant Step Up Margin (or Cumulative Step Up Margin if the applicable Final Terms specifies that a Cumulative Step Up Event is applicable).
The occurrence of a Step Up Event (or a Step Up Event comprising the Cumulative Step Up Event if the applicable Final Terms specifies that a Cumulative Step Up Event is applicable) will be notified by the Issuer to the Agent and, in accordance with Condition 13 (Notices), the Noteholders as soon as reasonably practicable after such occurrence and, in respect of the relevant Step Up Event, no later than the relevant Step Up Event Notification Date.

More Definitions of Cumulative Step Up Event

Cumulative Step Up Event means the occurrence of any of (a) a Net Energy Consumption Reduction Event; and/or (b) a Scope 1 and 2 market-based GHG Emissions Reduction Event; and/or (c) a Scope 3 from supply chain GHG Emissions Reduction Event, as indicated as applicable in the relevant Final Terms and, in each case, as so specified as comprising the Cumulative Step Up Event in the relevant Final Terms, it being understood that the occurrence of any such event shall not result in the occurrence of an Event of Default under these Conditions. Cumulative Step Up Margin means the amount specified in the applicable Final Terms as being the Cumulative Step Up Margin.

Step-Up Date The first Distribution Date following the first Distribution Date on which the aggregate unpaid principal balance of the Mortgage Loans, and properties acquired in respect thereof, remaining in the Trust Fund has been reduced to less than or equal to 10% of the Aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.
Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.
Flip-Over Event means any event described in clause (x), (y) or (z) of Section 13(a) hereof.