Deemed Cured definition

Deemed Cured means with respect to Series 1998-C, (a) with respect to an event that has occurred pursuant to clause (A)(i) of the definition of Trigger Event, as of a Determination Date with respect to Series 1998-C, that no event as specified in clause (A)(i) of the definition thereof with respect to such Series shall have occurred as of such Determination Date or as of any of the two consecutively preceding Determination Dates, and (b) with respect to an event that has occurred pursuant to clause (A)(ii) or clause (A)(iii) of the definition of Trigger Event, as of the next Determination Date which occurs in a calendar month which is a multiple of three months succeeding the Series 1998-C Closing Date, that no event specified in clause (A)(ii) or clause (A)(iii) of the definition of Trigger Event with respect to such Series shall have occurred as of such Determination Date.

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Deemed Cured. With respect to the occurrence of a Performance Trigger or Rapid Amortization Trigger, when the condition that originally gave rise to the occurrence of such trigger has not continued for 20 consecutive days, or if the occurrence of such Performance Trigger or Rapid Amortization Trigger has been waived in writing by the Majority Noteholder.

Deemed Cured. Delinquency Ratio," "Net Losses," "Spread Account Shortfall" and "Spread Account Default Level."

Examples of Deemed Cured in a sentence

• In addition to the information set forth in the preceding sentence, the Servicer's Certificate shall also contain the following information: (a) the Delinquency Ratio and the Cumulative Net Loss Ratio for such Determination Date; (b) whether any Trigger Event has occurred as of such Determination Date; and (c) whether any Trigger Event that may have occurred as of a prior Determination Date is Deemed Cured as of such Determination Date.

• Upon the occurrence of an Event of Default or Default, the Note Purchaser may, in its sole discretion, terminate the Funding Period, provided that if the precipitating Default is cured before it becomes an Event of Default and no other Default or Event of Default, or any Performance Trigger Event that has not been Deemed Cured, then exists, the Funding Period shall be reinstated.

• If (i) the amount on deposit in the Reserve Account on any Payment Date (after giving effect to all deposits therein or withdrawals therefrom on such Payment Date) exceeds the Reserve Account Required Amount and (ii) (a) no Trigger Event has occurred or (b) all Trigger Events which have occurred have been Deemed Cured, the Trustee shall distribute an amount equal to any such excess pursuant to the Servicer's Certificate and Section 4.5(a)(viii).

• If (i) the amount on deposit in the Reserve Account on any Payment Date (after giving effect to all deposits therein or withdrawals therefrom on such Payment Date) exceeds the Reserve Account Required Amount and (ii) (a) no Trigger Event has occurred or (b) all Trigger Events which have occurred have been Deemed Cured, the Indenture Trustee shall distribute an amount equal to any such excess pursuant to the Servicer's Certificate and Section 4.5(a)(viii).

More Definitions of Deemed Cured

Deemed Cured has the meaning set forth in the Insurance Agreement.]

Deemed Cured means, as of a Determination Date, that no Spread Cap Event shall have occurred and be continuing as of such Determination Date and with respect to the two consecutively preceding Determination Dates.

Deemed Cured means, as of a Determination Date, (a) with respect to a Trigger Event that has occurred pursuant to clause (ii) of the definition thereof, that no such clause (ii) Trigger Event shall have occurred as of such Determination Date or as of either of the two consecutively preceding Determination Dates, and (b) with respect to a Trigger Event that has occurred pursuant to clause (i) or clause (iii) of the definition thereof, as of a Determination Date which occurs in a calendar month which is a multiple of three months succeeding the Closing Date, that no such clause (i) or clause (iii) Trigger Event shall have occurred as of such Determination Date, it being understood that a Trigger Event that has occurred pursuant to clause (i) or clause (iii) of the definition thereof, may not be cured on a Determination Date which occurs in a calendar month which is not a multiple of three months succeeding the Closing Date.

Deemed Cured means, with respect to Series 1994-B, Series 1994-A, Series 1993-D, Series 1993-C, Series 1993-B or Series 1993-A and each other Spread Account for which "Deemed Cured" is not defined in the related Series Supplement, (a) with respect to the occurrence of the events specified in clause (A)(i) or (ii) of the definition of Trigger Event, as of a Determination Date that no such event specified in clause (A)(i) or clause (A)(ii) with respect to such Series shall have occurred as of such Determination Date or as of any of the two consecutively preceding Determination Dates, and (b) with respect to the occurrence of the events specified in clause (A)(iii) or clause (A)(iv) of the definition thereof, as of the next Determination Date which occurs in a calendar month which is a multiple of three months succeeding the Closing Date, that no such event specified in clause (A)(iii) or clause (A)(iv) with respect to such Series shall have occurred as of such Determination Date.

Deemed Cured means, as of a Reporting Date, with respect to a Trigger Event that has occurred with respect to a Series, that no Trigger Event with respect to such Series shall have occurred as of such Reporting Date or as of any of the two consecutively preceding Reporting Dates.

Deemed Cured means, as of a Determination Date, (a) with respect to a ------------ Trigger Event that has occurred solely as a result of the occurrence of a Delinquency Test Failure, that no Trigger Event or any Insurance Agreement Event of Default shall have occurred as of such Determination Date or as of any of the three (3) next preceding Determination Dates; or (b) with respect to any other Trigger Event, that no Trigger Event or any Insurance Agreement Event of Default shall have occurred as of such Determination Date or as of any of the six (6) next preceding Determination Dates.

Deemed Cured. A Performance Trigger or Rapid Amortization Trigger shall be Deemed Cured on the 25th consecutive Business Day on which the condition that originally gave rise to such event has not continued.