Reversible Loss Event Reference Obligation definition

Reversible Loss Event Reference Obligation means a Defaulted Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cashflows on any underlying assets) that all or part of the Principal Reduction of the Reference Obligation which constitutes a Loss Event may be reversed and any relevant amount paid, together with interest thereon and interest on interest which would have accrued or been paid in respect of such Loss Event. For the avoidance of doubt, a Reference Obligation shall not constitute a Reversible Loss Event Reference Obligation solely because the terms thereof provide for the reversal, re- determination or similar adjustment of any Principal Reduction of the Reference Obligation which has not been correctly determined or allocated in accordance with the terms thereof.
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Reversible Loss Event Reference Obligation means a Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cash flows on any underlying assets) that (a) in relation to a Reference Obligation which is a Cash ABS Asset, all or part of any reduction in the principal amount of the Reference Obligation which constitutes a Loss Event may be reversed or (b) in relation to a Reference Obligation which is a Synthetic ABS Asset, all or part of a settlement payment payable by the protection seller as the result of a Loss Event may be repaid by the protection buyer and the Maximum Liability Amount increased accordingly. For the avoidance of doubt, a Reference Obligation shall not constitute a Reversible Loss Event Reference Obligation solely because the terms thereof provide for the reversal, re-determination or similar adjustment of any principal reductions or, as the case may be, settlement payments, which have not been correctly determined or allocated in accordance with the terms thereof.
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Reversible Loss Event Reference Obligation means a Defaulted Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cashflows on any underlying assets) that all or part of the Principal Reduction of the Reference Obligation which constitutes a Loss Event may be reversed and any relevant amount paid, together with interest thereon and interest on interest which would have accrued or been paid in respect of such Loss Event.
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More Definitions of Reversible Loss Event Reference Obligation

Reversible Loss Event Reference Obligation means a Defaulted Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cashflows on any underlying assets) that all or part of the Principal Reduction of the Reference Obligation which constitutes a Loss Event may be reversed and any relevant amount paid, together with interest thereon and interest on interest which would have accrued or been paid in respect of such Loss Event. For the avoidance of doubt, a Reference Obligation shall not constitute a Reversible Loss Event Reference Obligation solely because the terms thereof provide for the reversal, re- determination or similar adjustment of any Principal Reduction of the Reference Obligation which has not been correctly determined or allocated in accordance with the terms thereof.S&P “S&P” means Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc or any successor rating agency thereto.S&P Recovery Rate “S&P Recovery Rate” means, with respect to aDefaulted Reference Obligation, the relevant figure (expressed as a percentage) determined by the Calculation Agent in accordance with S&P methodology in effect from time to time using the table set out in Schedule 2.Scheduled Distribution Date “Scheduled Distribution Date” means each date onwhich, under the terms of the relevant Reference Obligation, a Scheduled Interest Payment is scheduled to be paid (after giving effect to any applicable grace period).Scheduled Interest Payments “Scheduled Interest Payments” means the productof (i) the Scheduled Interest Rate; (ii) the relevant principal amount of the relevant Reference Obligation as used for such calculation of interest; and (iii) the day count fraction under the terms of the relevant Reference Obligation, provided that the outstanding principal amount of any such Reference Obligation will be adjusted for early payments of principal or write-downs of principal (except to the extent such write-downs would themselves constitute a Credit Event pursuant to this Transaction) and provided that Scheduled Interest Payments shall not include any interest that is not required to be paid under the terms of the Reference Obligation due to insufficient funds.Scheduled Interest Rate “Scheduled Interest Rate” means the applicablerate of interest or, with respect to the Reference Obligation that is not in the form of debt, the rate used to calculate periodic distributions, scheduled to be paid under the ter...
Sample 1
Reversible Loss Event Reference Obligation means a Defaulted Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cashflows on any underlying assets) that all or part of the Principal Reduction of the Reference Obligation which constitutes a Loss Event may be
Sample 1
Reversible Loss Event Reference Obligation means a Reference Obligation, the terms of which provide specifically in certain circumstances (including,
Sample 1
Reversible Loss Event Reference Obligation means a Reference Obligation, the terms of which provide specifically in certain circumstances (including, without limitation, where there are surplus cash flows on any underlying assets) that
Sample 1

Related to Reversible Loss Event Reference Obligation

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Contractor under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • Shared Loss Payment Trigger means when the sum of the Cumulative Loss Amount under this Single Family Shared-Loss Agreement and the Shared-Loss Amount under the Commercial and Other Assets Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.

  • Excess Concentration Amount means, as of any date of determination on which any one or more of the Concentration Limitations are exceeded, an amount (calculated by the Servicer and without duplication) equal to the Dollar Equivalent of the portion of the Adjusted Principal Balance of each Eligible Collateral Loan that causes such Concentration Limitation to be exceeded.

  • Cumulative Loss Trigger Event With respect to any Distribution Date, a Cumulative Loss Trigger Event exists if the quotient (expressed as a percentage) of (x) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Prepayment Period divided by (y) the Cut-off Date Pool Principal Balance exceeds the applicable cumulative loss percentages set forth below with respect to such Distribution Date: Distribution Date Occurring In Cumulative Loss Percentage ------------------------------ -------------------------- May 2008 through April 2009 1.400% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 2.250% in November 2008) May 2009 through April 2010 3.100% for the first month, plus an additional 1/12th of 1.700% for each month thereafter (e.g., 3.950% in November 2009) May 2010 through April 2011 4.800% for the first month, plus an additional 1/12th of 1.400% for each month thereafter (e.g., 5.500% in November 2010) May 2011 through April 2012 6.200% for the first month, plus an additional 1/12th of 0.700% for each month thereafter (e.g., 6.550% in November 2011) May 2012 and thereafter 6.900%

  • Property Loss Event means any loss of or damage to property of Group or any Subsidiary thereof that results in the receipt by such Person of proceeds of insurance in excess of $2,000,000 or any taking of property of Group or any Subsidiary thereof that results in the receipt by such Person of a compensation payment in respect thereof in excess of $2,000,000.

  • Total Loss Proceeds means the proceeds of any insurance or any compensation or similar payment arising in respect of a Total Loss.

  • from an Asset Disposition means cash payments received therefrom (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties or assets or received in any other noncash form), in each case net of:

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Final Shared-Loss Recovery Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Excluded Asset Disposition means, with respect to any Consolidated Party, any Asset Disposition consisting of (i) the sale, lease, license, transfer or other disposition of inventory or other assets in the ordinary course of such Consolidated Party's business, (ii) the sale, lease, license, transfer or other disposition of Property no longer used or useful in the conduct of such Consolidated Party's business, (iii) any Involuntary Disposition by such Consolidated Party, (iv) any sale, lease, license, transfer or other disposition of Property by such Consolidated Party to any Credit Party, PROVIDED that the Credit Parties shall cause to be executed and delivered such documents, instruments and certificates as the Agent may reasonably request so as to cause the Credit Parties to be in compliance with the terms of Section 7.12 after giving effect to such transaction, (v) any portion of an Asset Disposition by such Consolidated Party constituting a Permitted Investment, (vi) if such Consolidated Party is not a Credit Party, any sale, lease, license, transfer or other disposition of Property by such Consolidated Party to any Consolidated Party that is not a Credit Party, (vii) the sale or disposition of Cash Equivalents for fair market value, (viii) any sale of accounts receivable in connection with the compromise thereof, (ix) the assignment of past due accounts for collection or (x) the licensing of Intellectual Property to third Persons on customary terms as determined by the licensor's board of directors in good faith; PROVIDED, HOWEVER, that the term "Excluded Asset Disposition" shall not include any Asset Disposition to the extent of the portion of the proceeds of such Asset Disposition that would be required under any Junior Financing Documentation to be applied to permanently retire Indebtedness of the Consolidated Parties.

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Master Servicer Event of Default One or more of the events described in Section 7.01.

  • Erroneous Payment Deficiency Assignment has the meaning assigned to it in Section 10.10(d).

  • Excess Concentration means, without duplication, the sum of the following amounts:

  • Recovery Quarter has the meaning provided in Section 2.1(a)(ii) of this Commercial Shared-Loss Agreement.

  • Event of Loss Proceeds means, with respect to any proceeds from any Event of Loss, all Satellite insurance proceeds received by the Issuer or any of the Restricted Subsidiaries in connection with such Event of Loss, after

  • Penalty Charge Notice means a notice served by a Civil Enforcement Officer pursuant to the provisions of section 78 of the 2004 Act and supporting regulations;

  • Bankruptcy Loss Amount As of any Distribution Date prior to the first anniversary of the Cut-Off Date, the Bankruptcy Loss Amount will equal $100,000.00 minus the aggregate amount of Bankruptcy Losses allocated solely to the Class B Certificates in accordance with Section 4.02

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.

  • Excluded Amount means, as of any date of determination, with respect to any Asset: (a) any amount that is attributable to the reimbursement of payment by the applicable Borrower of any tax, fee or other charge imposed by any Governmental Authority on such Asset, (b) any interest or fees (including origination, agency, structuring, management or other up-front fees) that are for the account of the applicable Person from whom the applicable Borrower purchased such Asset, (c) any reimbursement of insurance premiums relating to such Asset, (d) any escrows relating to taxes, insurance and other amounts in connection with such Asset which are held in an escrow account for the benefit of the applicable Borrower pursuant to escrow arrangements under the Investment Documents and (e) any amount deposited into the Asset Account in error.

  • Net Loss Proceeds means, with respect to any Event of Loss, the proceeds in the form of (a) cash or Cash Equivalents and (b) insurance proceeds, condemnation awards or damages awarded by any judgment, in each case received by the Company from such Event of Loss net of:

  • Net Disposition Proceeds means, with respect to any sale, transfer or other disposition of any assets of the Borrower, any Parent Guarantor or any of their respective Subsidiaries (other than sales permitted pursuant to clause (a), (b) or (c) of Section 7.2.9), the excess of

  • Deliverable Obligation Characteristics means Not Subordinated, Specified Currency, Not Contingent, Assignable Loan, Consent Required Loan, Transferable, Not Bearer, Maximum Maturity – 30 years.

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Total Required Payment means, for a Payment Date, the sum of

  • Specified Asset Sale has the meaning specified in Section 2.05(b)(vi).