Rapid Amortization Event definition

Rapid Amortization Event has the meaning given to it in Section 5.16.

Rapid Amortization Event has the meaning specified in Section 9.1 of the Base Indenture.

Rapid Amortization Event. As defined in Section 11.01.

Examples of Rapid Amortization Event in a sentence

• No delay or omission of the Trustee, the Control Party, the Controlling Class Representative, any Holder of any Note or any other Secured Party to exercise any right or remedy accruing upon any Potential Rapid Amortization Event, Rapid Amortization Event, Default or Event of Default shall impair any such right or remedy or constitute a waiver of any such Potential Rapid Amortization Event, Rapid Amortization Event, Default or Event of Default or an acquiescence therein.

• On or before the third (3rd) Business Day prior to each Quarterly Payment Date, the Manager shall deliver to the Trustee (with a copy to each of the Control Party and the Back-Up Manager) an Officer’s Certificate (each, a “Quarterly Compliance Certificate”) to the effect that, except as provided in a notice delivered pursuant to Section 8.8, no Potential Rapid Amortization Event, Rapid Amortization Event, Default or Event of Default has occurred or is continuing.

• Upon the occurrence of a Rapid Amortization Event, the Control Party (acting at the direction of the Controlling Class Representative) will deliver, to the applicable recording office for recordation, any Mortgage granted by a Securitization Party and held in escrow by the Control Party for the benefit of the Secured Parties, unless such requirement to record is waived by the Control Party, acting at the direction of the Controlling Class Representative.

• When the Trustee incurs expenses or renders services after an Event of Default or Rapid Amortization Event occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under the Bankruptcy Code.

• The Control Party within five (5) Business Days of receiving direction of the Controlling Class Representative will be required to deliver the Mortgages to the applicable recording office for recordation in the event that any Rapid Amortization Event occurs (or is continuing) on or following the 120th day following the occurrence of a Mortgage Preparation Event, unless such Mortgage Recordation Event is waived by the Control Party (at the direction of the Controlling Class Representative).

More Definitions of Rapid Amortization Event

Rapid Amortization Event means the occurrence of any of the following:

Rapid Amortization Event. Any one of the following events:

Rapid Amortization Event means any event specified in Section 9.01 of the Pooling and Servicing Agreement or in Section 17 hereof.

Rapid Amortization Event with respect to a Series, is defined in the related Series Supplement, if applicable.

Rapid Amortization Event. Any of those “Rapid Amortization Events” described in Section 7.01 of this Agreement.

Rapid Amortization Event means, with respect to the Series 2022-1 Notes, that the aggregate Outstanding Principal Balance of the Series 2022-1 Notes (after all payments on the Series 2022-1 Notes on the applicable Payment Date) exceeds zero on the Payment Date falling in May 2029.

Rapid Amortization Event. Any of those "Rapid Amortization Events" described in Section 12.1 of the Indenture.