Required Amortization Event definition

Required Amortization Event. The earliest to occur of any of the following: (i) the occurrence of an Event of Servicing Termination or an Event of
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Required Amortization Event. The earliest to occur of any of the following: (i) the occurrence of an "Event of Servicing Termination" under Article X hereof that has not been waived, (ii) the amount on deposit in the New Transferred Property Funding Account exceeds $2,000,000, (iii) any event of the type described in clauses (iv) through (vii), inclusive, of Section 10.01(a) having occurred with respect to the Contributor, the Transferor or the Depositor, (iv) as of any Determination Date, the three-month average ratio of the aggregate Lease Principal Balance of Delinquent Leases which are 61 days or more delinquent to the aggregate Lease Principal Balance of all Leases, exceeds 7.5% or (v) as of any Determination Date, the ratio of the aggregate Lease Principal Balances of all Defaulted Leases which became Defaulted Leases during the Interest-Only Period to the aggregate Lease Principal Balances of all leases, exceeds 6.5%.
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Required Amortization Event means the earliest to occur of the following:
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Examples of Required Amortization Event in a sentence

  • Principal in respect of this Class A Certificate is payable monthly as set forth herein, after an initial interest-only period which is scheduled to end on the December 1996 Payment Date, but which may end earlier if a Required Amortization Event occurs earlier.

  • The Initial Amortization Date is the earlier to occur of (x) the Payment Date occurring in December 1996 and (y) the Payment Date which immediately follows the Required Amortization Event.


More Definitions of Required Amortization Event

Required Amortization Event means (a) an Insurer Credit Event occurs which results in the Aggregate Insurer Credit Event Loss Amount being equal to or greater than $150,000,000 and each Insurer Credit Event thereafter or (b) an Insurable Interest Event occurs which results in the Aggregate Insurable Interest Event Loss Amount being equal to or greater than$150,000,000 and each Insurable Interest Event thereafter.
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Required Amortization Event. The earliest to occur of any of the following: (i) the occurrence of an Event of Servicing Termination or an Event of Default, (ii) the amount on deposit in the Additional Property Funding Account is more than $3,000,000, (iii) the bankruptcy of the Servicer or of either Series Obligor, (iv) as of any Calculation Date, the three-month average ratio of the aggregate Contract Balance Remaining of Series 1998-1 Contracts which are 31 or more days delinquent with respect to 90% or more of any Scheduled Payment to the Aggregate Contract Balance Remaining, exceeds 11.50%, (v) as of any Payment Date, the average over the related and two prior Collection periods of the Charge-Off Ratio exceeds 3.75%, (vi) the amount on deposit in the Reserve Account falls below $_________ and (vii) the percentage equivalent of a fraction, the numerator of which is Outstanding Principal Balances of the Class A Notes, the Class B Notes and the Class C Notes (after taking into account all payments of principal to be made on such Payment Date, but prior to taking into account any allocation of the Allocated Loss Amount, if any, for such Payment Date and the denominator of which is the sum of the Aggregate Contract Principal Balance as of the related Calculation Date plus the Available Reserve Amount at the end of such Payment Date plus the amount on deposit in the Additional Property Funding Account at the end of such Payment Date exceeds 96%.
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Related to Required Amortization Event

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

  • Early Amortization Event means any Early Amortization Event specified in Section 5.01 of the Indenture.

  • Potential Amortization Event means an event which, with the passage of time or the giving of notice, or both, would constitute an Amortization Event.

  • Amortization Event has the meaning specified in Article IX.

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • Early Amortization Period means the period commencing on the date on which a Trust Early Amortization Event or a Series 2009-VFN Early Amortization Event is deemed to occur and ending on the Series Termination Date.

  • Amortization Date means the earliest to occur of (i) the day on which any of the conditions precedent set forth in Section 6.2 are not satisfied, (ii) the Business Day immediately prior to the occurrence of an Event of Bankruptcy with respect to any Seller Party, (iii) the Business Day specified in a written notice from the Administrator following the occurrence of any other Amortization Event, and (iv) the date which is 30 days after the Administrator’s receipt of written notice from Seller that it wishes to terminate the facility evidenced by this Agreement.

  • Amortization Period means, with respect to any Series, or any Class within a Series, a period following the Revolving Period during which principal is distributed to Investor Certificateholders, which shall be the controlled amortization period, the principal amortization period, the rapid amortization period, or other amortization period, in each case as defined with respect to such Series in the related Supplement.

  • Rapid Amortization Period means the Amortization Period commencing on the Pay Out Commencement Date and ending on the earlier to occur of (a) the Series 2001-D Termination Date and (b) the termination of the Trust pursuant to Section 12.01 of the Agreement.

  • Amortization Amount shall have the meaning provided in Section 5.2(c).

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Negative Amortization That portion of interest accrued at the Note Rate in any month which exceeds the Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan.

  • Tax Event Repayment Date means the date set out in a notice from the Issuer to the Bondholders pursuant to Clause 10.4 (Early redemption option due to a tax event).

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Reduction Event means any of the following:

  • Expected Amortization Schedule means, with respect to any Tranche, the expected amortization schedule related thereto set forth in the Series Supplement.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Amortization rate means the amortization rate, as defined in Section 49-11-102, to be applied to the system that would have covered the retiree if the retiree's reemployed position were deemed to be an eligible, full-time position within that system.

  • Distribution Event means any insolvency, bankruptcy, receivership, liquidation, reorganization or similar proceeding (whether voluntary or involuntary) relating to the Company or its property, or any proceeding for voluntary or involuntary liquidation, dissolution or other winding up of the Company, whether or not involving insolvency or bankruptcy.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.

  • Remaining Amortization Period means, at any point in time, the number of consecutive calendar months equal to the number of months in the Amortization Period minus the number of scheduled monthly installments of principal and interest that have elapsed since the date of this Note.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.