Run Off Day definition

Run Off Day for any Undivided Interest means any of (a) each day which occurs on or after the date designated by the Administrative Agent to Seller to be the "Run Off Commencement Date" during a time when any of the conditions precedent set forth in Section 5.02 are not satisfied, (b) each day which occurs on or after the Termination Date for such Undivided Interest or (c) each day which occurs on or after the Seller shall have given written notice to the Administrative Agent that it no longer wishes to sell Undivided Interests in the Receivables Pool to Purchaser.
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Run Off Day means any of (a) each day which occurs on or after the date designated by the Administrative Agent or the Required Purchasers to Seller to be the "Run Off Commencement Date" during a time when any of the conditions precedent set forth in Section 5.02 are not satisfied, (b) each day which occurs on or after the Termination Date or (c) each day which occurs on or after the Seller shall have given written notice to the Administrative Agent and each Bank Purchaser that it no longer wishes to sell the Undivided Interest in the Receivables Pool pursuant to this Agreement.
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Run Off Day. There shall be no Run Off Day for any Undivided Interest after it shall equal zero.
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Examples of Run Off Day in a sentence

  • If instructed by the Administrative Agent after the occurrence of a Termination Event or a Run Off Day, Servicer shall segregate and deposit with a bank (which may be BofA) designated by the Administrative Agent such allocable shares of Collections of Pool Receivables set aside for Purchasers within two Business Days following receipt by Servicer of such Collections in immediately available funds.

  • If requested by the Administrative Agent or any Bank Purchaser, Servicer shall prepare and forward Periodic Reports more frequently than once a month (but in no event more frequently than once per week unless such calendar month contains a Run Off Day), using the most current information available to Servicer.


More Definitions of Run Off Day

Run Off Day means (i) each day on which the conditions set forth in Section 2 of Exhibit II are not satisfied, (ii) each day which occurs on or after the Termination Date, and (iii) each day as to which the Issuer has indicated to the Seller pursuant to Section 1.1(a) that it will not reinvest in the Purchased Interest hereunder.
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Related to Run Off Day

  • Reference Cut-Off Date means the eighth Scheduled Trading Day immediately following the Scheduled Reference Date or, if earlier, the Scheduled Trading Day falling on or immediately preceding the second Business Day immediately preceding the due date on which payment of any amount or delivery of any assets may have to be made pursuant to any calculation or determination made on such Reference Date, provided that the Reference Cut-Off Date shall not fall prior to the original date on which such Reference Date was scheduled to fall.

  • Spin-Off Date means the date on which the Spin Off is consummated.

  • SOFR Rate Cut-Off Date means the date that is the second U.S. Government Securities Business Day prior to the Interest Payment Date in respect of the relevant Interest Accrual Period or such other date specified in the Final Terms;

  • Notice Cut-off Date means the date specified as such in the Conversion Shares Settlement Request Notice, which date shall be at least forty (40) Business Days following the Suspension Date.

  • TARGET2 Business Day means, a day in which the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) System or any successor is open.

  • Additional Cut-Off Date means (a) with respect to Lump Addition Accounts or Participation Interests, the date specified as such in the notice delivered with respect thereto pursuant to Section 2.09(d) and (b) with respect to New Accounts, the date on which such New Accounts are originated.

  • Initial Cut-Off Date With respect to any Initial Mortgage Loan, the later of (i) the date of origination of such Mortgage Loan and (ii) March 1, 2006. Initial Cut-off Date Pool Principal Balance: $517,241,872.77.

  • TARGET2 Day means a day that TARGET2 is open for the settlement of payments in euro.

  • Addition Cut-Off Date means, with respect to the Additional Accounts designated hereby, .

  • Subsequent Cut-off Date With respect to those Subsequent Mortgage Loans sold to the Trust Fund pursuant to a Subsequent Transfer Instrument, the later of (i) first day of the month in which the related Subsequent Transfer Date occurs or (ii) the date of origination of such Mortgage Loan.

  • Clearing System Business Day means in relation to an Index, any day on which the principal domestic clearing systems customarily used for settling trades in securities comprising such Index is (or, but for the occurrence of an event beyond the control of the Company or the Hedging Counterparty as a result of which such clearing system cannot clear the transfer of such securities, would have been) open for the acceptance and execution of settlement instructions.

  • CSD Business Day means a day on which the Book-Entry Securities System is open in accordance with the regulations of the CSD.

  • SOFR Business Day means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

  • Rate Cut-Off Date means the second U.S. Government Securities Business Day prior to a redemption date or the Maturity Date.

  • Removed Account means an Account which becomes a Removed Account as provided under the Pooling and Servicing Agreement; provided, however, that if the account is thereafter added as an Account, then such account shall no longer be a Removed Account, except if thereafter removed and not added.

  • Clearance System Business Day means, with respect to the Clearance System, any day (other than a Saturday or Sunday) on which the Clearance System is open for the acceptance and execution of settlement instructions.

  • Rebalance Business Day means any day which is a, Exchange Business Day and also a day on which commercial banks and foreign exchange markets settle payment in the country in which the relevant Reference Asset is admitted to trading or any other day designated as a Rebalance Business Day by the Issuer.

  • Additional Account means each New Account and each Aggregate Addition Account.

  • Cut-off Date With respect to each Original Mortgage Loan, December 1, 1998. With respect to all Qualified Substitute Mortgage Loans, their respective dates of substitution. References herein to the "Cut-off Date," when used with respect to more than one Mortgage Loan, shall be to the respective Cut-off Dates for such Mortgage Loans.

  • Excluded Day shall have the meaning set forth in Section 2.3.1(b).

  • Removed Accounts shall have the meaning specified in Section 2.10.

  • Grace Period Business Day means a day on which commercial banks and foreign exchange markets are generally open to settle payments in the place or places and on the days specified for that purpose in the relevant Obligation and if a place or places are not so specified, in the jurisdiction of the Obligation Currency.

  • RFR Business Day means as applicable, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to (i) Sterling, a day on which banks are open for general business in London and (ii) Euro, a TARGET Day.

  • Cut-off Date Pool Balance The aggregate Cut-off Date Principal Balance of all the Original Mortgage Loans.

  • MONTHLY KILOMETREAGE STATEMENT CUM BILL means the format specified by the Company.

  • Current Receivable means each Receivable that is not a Defaulted Receivable or a Liquidated Receivable.