Release Event Date definition
Examples of Release Event Date in a sentence
The Administrator will provide notice of any Release Event to the Registered Holders, each applicable Rating Agency and the Remarketing Agent concurrently with the applicable Release Event Date, provided any failure to provide such notice shall not affect the validity of any payment made pursuant to this Section.
Any Bond purchased on the related Release Event Date will be deemed purchased by the Sponsor at the Release Purchase Price from funds provided pursuant to the Credit Enhancement or, if applicable, by the Sponsor.
In addition, Hypothetical Gain Share, if any, as calculated by Xxxxxxx Mac, will be payable by the Administrator on the Release Event Date to the Holders of Class A Certificates on the Release Event Date from amounts provided by the Sponsor to the Administrator on such Release Event Date (and such Hypothetical Gain Share will be paid to the Class A Certificateholders in addition to the Release Purchase Price).
In addition, Hypothetical Gain Share, if any, as calculated by Fxxxxxx Mac, will be payable on the Release Event Date from amounts provided by the Sponsor to the Administrator on such Release Event Date (and such Hypothetical Gain Share will be paid to the Class A Certificateholders in addition to the Release Purchase Price).
If the Sponsor elects to exercise any such right by giving notice to Xxxxxxx Mac, the Sponsor shall provide or cause to be provided sufficient immediately available funds to Xxxxxxx Mac to fund the Total Release Price of the affected Bonds not later than 11:00 a.m. Washington, D.C. time, on the Business Day prior to the Release Event Date designated by Xxxxxxx Mac.
If the Sponsor elects to exercise any such right by giving notice to Fxxxxxx Mac, the Sponsor shall provide or cause to be provided sufficient immediately available funds to Fxxxxxx Mac to fund the Total Release Price of the affected Deposited Assets not later than 11:00 a.m. Washington, D.C. time, on the Business Day prior to the Release Event Date designated by Fxxxxxx Mac.
Prior to any exercise of such right, Freddie Mac shall provide written notice to the Sponsor (the “Xxxxxxx Xxx Xxxxxxxx Notice”) not less than fifteen (15) days prior to the proposed Release Event Date identifying each series of Bonds giving rise to a Release Event, the circumstances giving rise to such Release Event and the proposed purchase date and stating that the Sponsor may elect to fund or cause the funding of such purchase of the series of Bonds.
In addition, Hypothetical Gain Share, if any, as calculated by Xxxxxxx Mac, will be payable on the Release Event Date from amounts provided by the Sponsor to the Administrator on such Release Event Date (and such Hypothetical Gain Share will be paid to the Class A Certificateholders in addition to the Release Purchase Price).
Except for the Master Agreement and that certain Registration Rights Agreement, dated as of the Release Event Date, between the Company and the PBGC, this Agreement embodies the entire agreement and understanding among the parties and supersedes all prior agreements and understandings relating to the subject matter hereof.
If the Release Event occurs, the Equity Release Agreement must become effective and irrevocable within 2 days after the Release Event Date (the applicable deadline date is referred to as the “Release Deadline Date”).