Liquidity Deficiency definition

Liquidity Deficiency is defined in the Certificate of Liquidity Demand attached as Annex B to the Series 1998-1 Letter of Credit.
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Liquidity Deficiency has the meaning specified in Section 503(b) of the Indenture.
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Liquidity Deficiency means with respect to a Borrower at any time that (a) the sum of (i) the principal amount of all outstanding Borrower Loans owing by such Borrower at such time plus (ii) in the case of any Borrower Loans bearing interest at a fixed rate (or floating rate if at such time the applicable floating rate has been determined for the period until the Weighted Average Assumed Payment Date of the relevant Borrower Loan), the aggregate of the interest to accrue on all such Borrower Loans through the Weighted Average Assumed Payment Dates of such Borrower Loans (assuming that such Borrower Loans remain outstanding through such Weighted Average Assumed Payment Dates), plus (iii) in the case of any Borrower Loans bearing interest at a floating rate which has been hedged to fixed rate, the aggregate amount of fixed rate payments payable by such Borrower under any interest hedge contract entered into in relation to such Borrower Loans, in each case through the Weighted Average Assumed Payment Dates of such Borrower Loans (without giving effect to any netting under such hedge contracts) plus (iv) the aggregate Floating Rate Interest Liquidity Amount in respect of such Borrower at such time not covered by incremental amounts under any support agreement, plus (v) the repurchase price (excluding any price differential) required to repurchase any Assets that have sold under any Committed Repurchase Agreement at such time, exceeds (b) the sum of (i) the maximum aggregate amount of Liquidity Support (excluding Committed Repurchase Facilities) available to be drawn in same day funds by such Borrower at such time, plus (ii) the Adjusted Asset Value at such time. For this purpose, "Assumed Payment Date" has the meaning given below under the heading "SUPPORT AGREEMENTS AND CREDIT ENHANCEMENT—Liquidity Support".
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Examples of Liquidity Deficiency in a sentence

  • The December 2022 Letter outlined two deficiencies (Resolution Planning Governance Deficiency and Liquidity Deficiency) identified by the Agencies.

  • The holders of X-Notes may not extend the maturity of any X-Notes if the CP Issuer Administrator has determined that, after giving effect to such extension, there would be a Borrower Liquidity Deficiency with respect to the relevant Borrower, there would be a Program Liquidity Deficiency, the Enhancement Test Amount is not maintained, or any other requirement under the CP Issuer Administration Agreement is not satisfied.

Related to Liquidity Deficiency

  • Daily Deficiency Rate means the rate employed to assess certain deficiency charges under Tariff, Attachment DD, section 7, Tariff, Attachment DD, section 8, Tariff, Attachment DD, section 9, or Tariff, Attachment DD, section 13.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Gas Supply Deficiency means any occurrence relating to Seller's gas supply which causes Seller to deliver less than the total requirements of its system, including failures of suppliers to deliver gas for any reason, requirement of gas for system storage, conservation of gas for future delivery, or any other occurrence which is not enumerated herein which affects Seller's gas supply.

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Borrowing Base Deficiency means, as of any date of determination, the positive amount, if any, by which (i) the aggregate Loans Outstanding exceeds (ii) the Borrowing Base.

  • Performing Note Deficiency means any time that less than 65% of the then aggregate outstanding principal amount of all Equipment Notes are Performing Equipment Notes.

  • Significant deficiency means a shortcoming in the system that materially affects the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.

  • Margin Deficit shall have the meaning assigned thereto in Section 6(a) hereof.

  • Authority Default shall have the meaning set forth in Clause 23.2;

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Servicer Event of Default wherever used herein, means any one of the following events:

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Funding Default as defined in Section 2.21.

  • Hedging Disruption Event means any event which, in the Issuer’s reasonable opinion, would make it illegal or commercially unfeasible for the Issuer to continue to hedge its obligations in relation to the Bond.

  • FX Disruption Event ' means the occurrence of any event on any day or any number of consecutive days as determined by the Calculation Agent in its sole and reasonable discretion that affects the Issuer’s currency hedging (if any) with respect to the Products.

  • Reduction Event means any of the following:

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Mental deficiency means mental deficiency as defined by appropriate clinical authorities to such extent that a person so afflicted is incapable of managing himself and his affairs, but shall not include mental illness as defined herein.

  • Class C Deficiency Amount is defined in Section 4.1(c).