Restricting Event definition

Restricting Event means the condition that exists on any Payment Date if any one of the following conditions exists: (i) a Delinquency Condition exists or (ii) an Indenture Event of Default has occurred and is then continuing.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Restricting Event. As defined in Section 7.2.

Restricting Event shall be deemed to exist on any Payment Date on which any of the following conditions has occurred and is continuing: (i) a Servicer Default exists hereunder, (ii) the average of the sum of the Discounted Lease Balances of Leases that are more than 90 days delinquent as of the six (6) preceding Determination Dates exceeds two percent (2%) of the average of the Aggregate Discounted Lease Balances as of such six (6) preceding Determination Dates, as reflected on the most recent Monthly Statement, or (iii) two (2) times the sum of the Discounted Lease Balances of Leases that became Defaulted Leases in the six (6) preceding Collection Periods exceeds five percent (5%) of the average of the Aggregate Discounted Lease Balances as of the Determination Dates related to such six (6) preceding Collection Periods, as reflected on the most recent Monthly Statement.

Examples of Restricting Event in a sentence

The provisions of this Section 2.9 shall apply during the term of this Agreement after the occurrence of a Restricting Event.
The provisions of this Section 2.8 shall apply during the term of this Agreement after the occurrence of a Payout Event provided that no Restricting Event has occurred.
The Liquidity Agent shall not be deemed to have knowledge of any Restricting Event unless the Liquidity Agent has received notice from the Seller, the Deal Agent or a Secured Party.
After the occurrence of an Event of Default or Restricting Event (as defined in the Sale and Servicing Agreement), no payments of principal of the Class D Notes shall be made until the principal on the Class A-1 Notes, Class A-2 Notes, Class B Notes and Class C Notes have been paid in full.
No Restricting Event shall apply to any such policies described in this Article Ten.

More Definitions of Restricting Event

Restricting Event means the event that shall be deemed to occur on a Payment Date on which (a) an Event of Servicing Termination has occurred under the Pooling and Servicing Agreement and is not cured within the grace period set forth in the Pooling and Servicing Agreement, (b) the Certificate Insurer makes an Insured Payment, (c) a Gross Charge-Off Event exists or (d) a Delinquency Trigger Event exists.

Restricting Event means the following:

Restricting Event shall have the meaning assigned to it in the Pooling Agreement.

Restricting Event means the occurrence of any of the following events: 5.

Restricting Event means any of the following events:

Restricting Event means any of the following events: (a) As of any Calculation Date occurring after the elapsing of six full Collection Periods since the Closing Date, the Average Cumulative Net Loss Ratio exceeds 1.00%; or

Restricting Event means, with respect to any Series, any of the following events and any other events specified as such in the related Supplement: