Examples of Guarantee Event in a sentence
Upon the occurrence of a Guarantee Cure Event, the Fund shall, on the Business Day following the date of the Guarantee Cure Event, provide the Treasury and its designee with a Guarantee Event Cure Notice in the form of Exhibit A-1 (“Guarantee Cure Event Notice”) and a Portfolio Schedule as of the date of the Guarantee Cure Event.
Further, the Trustee Collateral will only be enforced in accordance with the Trust Agreement and, in particular, upon the occurrence of a Note Event of Default (and not already upon the occurrence of a Guarantee Event).
Upon the occurrence of a Guarantee Event, the Guarantor is expected to make payments under the Guarantee.
As from the occurrence of a Guarantee Event, any proceeds received from the enforcement of the Related Collateral may be allocated pari passu and on a pro rata basis towards (i) satisfaction of such other claims of the respective Seller and (ii) towards satisfaction of the related Relevant Loan Receivable(s) with the consequence that only a portion of the proceeds received from the enforcement of the Related Collateral may be allocated to the Relevant Loan Receivable(s).
The relevant transfer events are that the respective Seller’s claim for the payment of the purchase price for the relevant Purchased Loan Receivables has been satisfied and, in addition, a Guarantee Event has occurred.