Downgrade Draw definition

Downgrade Draw is defined in Section 3.2(a).

Downgrade Draw. As defined in Section 3.2(a).

Downgrade Draw. The meaning specified in Section 3.08(c).

Examples of Downgrade Draw in a sentence

• If any Committed Investor shall be required pursuant to Section 3.2(a) to fund a Downgrade Draw, then its Managing Agent shall apply the monies in the Downgrade Collateral Account applicable to such Committed Investor’s share of Investments and L/C Borrowings required to be made by the Committed Investors and to any Assignment Amount payable by such Committed Investor pursuant to Section 3.1 at the times, in the manner and subject to the conditions precedent set forth in this Agreement.

• If any Liquidity Bank shall be required pursuant to Section 15.2(a) to fund a Downgrade Draw, then the Agent shall apply the monies in the Downgrade Collateral Account applicable to such Liquidity Bank’s share of Loans required to be made by the Liquidity Banks and to any Assignment Amount payable by such Liquidity Bank pursuant to Section 15.1 at the times, in the manner and subject to the conditions precedent set forth in this Agreement.

• If any Committed Investor shall be required pursuant to Section 3.2(a) to fund a Downgrade Draw, then its Managing Agent shall apply the monies in the Downgrade Collateral Account applicable to such Committed Investor’s share of Investments required to be made by the Committed Investors and to any Assignment Amount payable by such Committed Investor pursuant to Section 3.1 at the times, in the manner and subject to the conditions precedent set forth in this Agreement.

• For so long as the conditions which caused a Downgrade Draw with respect to a Class A-1R Noteholder are in existence, no interest shall accrue on the amount which is held in the related Class A-1R Purchaser Collateral Account in connection with such Downgrade Draw; instead that amount will be included in the calculation of the Commitment Fees of the related Class A-1R Noteholder, subject to Section 3.08(d).

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More Definitions of Downgrade Draw

Downgrade Draw is defined in Section 2.11.

Downgrade Draw means the requirement for each of the Class A1-D Noteholders and Class A3 Noteholders to deposit cash with the Issuer in an amount equal to their respective Class A1-D Pro Rata Share of the Class A1-D Available Commitment or Class A3 Pro Rata Share of Class A3 Available Commitment, as applicable, upon failure by it to satisfy the A1-D Rating Criteria or A3 Rating Criteria,as applicable, in accordance with the terms of the Class A1-D Note Purchase Agreement or Class A3 Note Purchase Agreement;

Downgrade Draw has the meaning set forth in Section 15.2.

Downgrade Draw is defined in Section 7.2(a) hereof.

Downgrade Draw is defined in Clause 2.9(a)(ii) (Downgrade of Liquidity Risk) of the Liquidity Agreement.

Downgrade Draw means each cash deposit with the Issuer made by a Class A3 Noteholder in an amount equal to its Class A3 Pro rata Share of the Class A3 Available Commitment upon failure by it to satisfy the Class A3 Rating Criteria in accordance with the terms of the Class A3 Note Purchase Agreement;

Downgrade Draw is defined in Section 3.1(a).