Monthly Remittance Conditions definition

Monthly Remittance Conditions means, collectively, (i) TMCC is the Servicer, (ii) either (a) TMCC’s short-term unsecured debt is rated P-1 by Moody’s and A‑1 by S&P, or (b) certain arrangements are made that are acceptable to the Rating Agencies and (iii) no Event of Default or Servicer Default shall have occurred and be continuing (unless waived by the appropriate Noteholders).

Monthly Remittance Conditions shall have the meaning assigned to such term in Section 5.02.

Monthly Remittance Conditions means, collectively, (i) TMCC is the Servicer, (ii) either (a) TMCC’s short-term unsecured debt is rated A-1 by S&P and F2 by Fitch, (b) TMCC’s long-term unsecured debt is rated at least BBB by S&P and BBB by Fitch, (c) TMCC has such other unsecured debt ratings from S&P and Fitch in respect of which the Rating Agency Condition has been satisfied for such purpose or (d) certain arrangements are made that are acceptable to the Rating Agencies, and (iii) no Event of Default or Servicer Default shall have occurred and be continuing (unless waived by the appropriate Noteholders).

Examples of Monthly Remittance Conditions in a sentence

• At all times when all Monthly Remittance Conditions are satisfied, the Servicer shall remit collections received during a Monthly Period to the Collection Account in immediately available funds on or before the related Distribution Date.

• Notwithstanding the foregoing, if the Monthly Remittance Condition is unsatisfied, the Servicer may utilize an alternative remittance schedule (which may include a remittance schedule utilized by the Servicer at a time when the Monthly Remittance Conditions was satisfied), if the Servicer provides the ACOLT Indenture Trustee (x) written instruction to follow such alternative remittance schedule and (y) Rating Agency Condition is satisfied with respect to any Rated Notes.

• Within two (2) Business Days after the Closing Date the Seller shall transfer to the account or accounts designated by Ally Auto (or by the Issuing Entity under the Further Transfer and Servicing Agreements) all collections on the Receivables held by the Seller on the Closing Date, and conveyed to Ally Auto pursuant to Section 2.01; provided that so long as the Monthly Remittance Conditions are satisfied, such collections need not be transferred until the first Distribution Date.

• Within two (2) Business Days after the Closing Date, the Seller shall transfer to the account or accounts designated by XXXX (or by the Issuing Entity under the Further Transfer and Servicing Agreements) all collections on the Receivables held by the Seller on the Closing Date, and conveyed to XXXX pursuant to Section 2.01; provided that so long as the Monthly Remittance Conditions are satisfied, such collections need not be transferred until the first Distribution Date.

• Within two (2) Business Days after the Closing Date the Seller shall transfer to the account or accounts designated by CXXX (or by the Issuing Entity under the Further Transfer and Servicing Agreements) all collections on the Receivables held by the Seller on the Closing Date, and conveyed to CXXX pursuant to Section 2.01; provided that so long as the Monthly Remittance Conditions are satisfied, such collections need not be transferred until the first Distribution Date.

More Definitions of Monthly Remittance Conditions

Monthly Remittance Conditions. As defined in Section 2.12 of the Servicing Agreement.

Monthly Remittance Conditions shall have the meaning specified in Section 4.02(a).

Monthly Remittance Conditions means that (i) TMCC is the Servicer, (ii) either (a) TMCC's short-term unsecured debt is rated at least P-1 by Moody's and A-1 by Standard & Poor's (so long as Moody's and Standard & Poor's are Rating Agencies), or (b) certain arrangements are made that have been approved in writing by each Rating Agency that has rated any class of securities issued in connection with a Securitized Financing at the request of the Grantor and (iii) no Early Amortization Event or Event of Servicing Termination as defined in any SUBI Supplement shall have occurred and be continuing.

Monthly Remittance Conditions has the meaning assigned to such term in the 20[__]-[__] Servicing Supplement.

Monthly Remittance Conditions means, with respect to Series 1996-1 Collections, (i) Ford Credit is the Administrative Agent, (ii) the rating of Ford Credit's short-term unsecured debt is at least P-1 by Moody's Investors Service, Inc. and A-1 by Standard & Poor's Ratings Group and (iii) no Event of Default with respect to Series 1996-1 shall have occurred under the Administrative Agency Agreement.

Monthly Remittance Conditions. As defined in Section 2.12 of the Servicing Agreement. Moody’s: Xxxxx’x Investors Service or its successor.

Monthly Remittance Conditions means each of the following conditions: