Series Collateral Release definition

Series Collateral Release. As defined in the Property Management Agreement.
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Series Collateral Release. A release of Released Assets in connection with a full prepayment of one or more Series of Notes following or concurrent with repayment in full of the Series 2013-1 Notes, the Series 2013-2 Notes, the Series 2013-3 Notes, the Series 2014-1 Notes, the Series 2015-1 Notes and the Series 2016-1 Notes; provided, however, the release of such Released Assets to the related Issuer (i) shall not trigger an Indenture Event of Default or Early Amortization Period (including but not limited to the Issuers’ obligations to maintain the 3-month Average DSCR), (ii) shall result in the Rating Condition being satisfied, (iii) shall not cause a Maximum Property Concentration to be exceeded (or if, prior to such release, an existing Maximum Property Concentration is already exceeded, the release of such Released Assets will reduce the Maximum Property Concentration or such Maximum Property Concentration will remain unchanged after giving effect to such release), and (iv) shall not cause the Weighted Average Unit FCCR of the properties remaining in the Collateral Pool to be less than the Weighted Average Unit FCCR of the Collateral Pool prior to the Series Collateral Release.
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Series Collateral Release. The meaning specified in Section 7.10(a).
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Examples of Series Collateral Release in a sentence

  • For the avoidance of doubt, any Series Collateral Release Price received will be deposited into the Collection Account in accordance with the Indenture, and any excess proceeds remaining after prepaying the applicable Series of Notes in connection with a Series Collateral Release will be remitted to the Release Account as a Release Price.

  • Any Series Collateral Release Price received on a Series Collateral Release shall be deposited into the Collection Account and applied by the Indenture Trustee on the date of such Series Collateral Release, at the direction of the Issuers, (A) to repay certain outstanding Notes as designated by the Issuers, in whole or in part, in accordance with Section 7.01 of the Indenture and/or (B) as Unscheduled Proceeds.

  • Pursuant to the Indenture, any excess proceeds remaining after prepaying the applicable Series of Notes in connection with a Series Collateral Release will be remitted to the Release Account as a Release Price.

  • Any Series Collateral Release Price received in connection with a Series Collateral Release shall be deposited into the Collection Account and applied by the Indenture Trustee on the date of such Series Collateral Release, in accordance with the terms of the Indenture.

  • For the avoidance of doubt, AFOP or an Affiliate may elect to make a capital contribution to one or more Issuers for the purposes of paying the applicable Series Collateral Release Price and the related Released Properties may be distributed by the applicable Issuer to AFOP or an Affiliate.

  • Any Series Collateral Release Price received in connection with a Series Collateral Release will be deposited into the Collection Account and applied by the Indenture Trustee on the date of such Series Collateral Release, to prepay in full one or more Series of notes as designated by the Issuer in accordance with Section 7.01 of Indenture and the related Series Supplement.

  • For the avoidance of doubt, SCF Realty Capital may elect to make a capital contribution to one or more Issuers for the purposes of paying the applicable Series Collateral Release Price and the related Released Properties and/or Released Loans may be distributed by the applicable Issuer to SCF Realty Capital.

  • For the avoidance of doubt, any Series Collateral Release Price shall not be used for a Voluntary Prepayment in connection with a partial prepayment of the Series 2018-1 Notes or the Notes of any other Series pursuant to this Section 2.03.

  • For the avoidance of doubt, any Series Collateral Release Price shall not be used for a Voluntary Prepayment in connection with a partial prepayment of the Series 2019-1 Notes or the Notes of any other Series pursuant to this Section 2.03.

  • For the avoidance of doubt, proceeds from a Series Collateral Release shall not be used for a Voluntary Prepayment in connection with a partial prepayment of the Series 2019-1 Notes or the Notes of any other Series.