Facility Early Amortization Event definition

Facility Early Amortization Event. Any of the following conditions or events, which is not waived by, together, Noteholders of at least 66⅔% of the Note Balance of the Outstanding Notes of each Series, measured by Voting Interests, and 100% of the VFN Noteholders:
View Source
Facility Early Amortization Event. Any of the following conditions or events, which is not waived by, together, the Series Required Noteholders of each Series:
View Source
Facility Early Amortization Event. “Event of Default” or “Target Amortization Event” under and as defined in each Servicing Advance Financing Agreement by or related to the Seller and the breach of any portfolio test therein (including, without limitation, any reimbursement rate trigger and/or any interest coverage trigger);
View Source

Examples of Facility Early Amortization Event in a sentence

  • Promptly after any waiver of a Facility Early Amortization Event pursuant to Section 4.12, or any rescission or annulment of a declaration of acceleration pursuant to Section 8.2(c), or any waiver of past default pursuant to Section 8.15, the Issuer will notify all related Note Rating Agencies in writing.

  • The occurrence of an event which with the giving of notice or the passage of time, or both, would constitute a Facility Early Amortization Event.

  • For the avoidance of doubt, the consent of the Servicer is not required for (i) the waiver of any Event of Default, Target Amortization Event or Facility Early Amortization Event or (ii) any other modification or amendment to any Event of Default, Target Amortization Event or Facility Early Amortization Event except those related to the actions and omissions of the Servicer.

  • The Administrator shall notify the Indenture Trustee and the Administrative Agent immediately upon the occurrence of any Facility Early Amortization Event or Target Amortization Event.

  • The Administrative Agent shall use commercially reasonable efforts to notify the Indenture Trustee and each Derivative Counterparty (as applicable in the case of any Target Amortization Event, with respect to the related Series of Notes) promptly upon becoming aware of the occurrence of any Facility Early Amortization Event or Target Amortization Event.

  • Prior to (i) the occurrence of a Facility Early Amortization Event or (ii) the receipt by the Indenture Trustee of a Cease Pre-Funding Notice, the Indenture Trustee shall apply the portion of the New Receivables Funding Amount requested by the Issuer (or the Servicer on its behalf) to “Noteholders’ Amounts” (as defined below) in accordance with this Section 4.3(e).

  • This MOU may be modified or amended upon written request of either party and written concurrence of the other party.

  • Investments held in Permitted Investments in the Trust Accounts (other than any Sinking Fund Account) shall not be sold or disposed of prior to their maturity (unless a Facility Early Amortization Event has occurred).

  • On any Payment Date after payment of principal on the Notes and when no Facility Early Amortization Event has occurred, the Indenture Trustee shall withdraw from each Series Reserve Account the amount by which the balance of the Series Reserve Account exceeds the related Series Reserve Required Amount and pay such amount to the Depositor as holder of the Owner Trust Certificate.

  • Notwithstanding anything to the contrary herein, any transaction that constitutes or results in the occurrence of a Change of Control shall be a Facility Early Amortization Event.