Examples of Series Event of Default in a sentence
If a Series Event of Default occurs while any Offered Notes are outstanding, the Series Security Trustee may, and if directed to do so by an Extraordinary Resolution of Series Secured Creditorsmust, enforce the Series Charge in accordance with the terms of each of the Series Master Security Trust Deed and the Series General Security Deed.
If a Series Event of Default occurs and the security interest granted under the Series General Security Deed is enforced prior to the Final Maturity Date, the amounts available to the Holders of the Offered Notes will be limited to the Series Assets.
Upon the occurrence of a Series Event of Default, the Series Security Trustee will be entitled to enforce the Series Charge and apply the Series Assets which are charged in favour of the Series Security Trustee for the benefit of the Series Secured Creditors of the Series (which term includes the Holders of the Offered Notes).
Prior to the occurrence of a Series Event of Default and the enforcement of the Series Charge under the Series General Security Deed, interest on the A$ Notes will be paid on each Payment Date in accordance with the order of priority described in section 17.2. After the occurrence of a Series Event of Default and the enforcement of the Series Charge under the Series General Security Deed, interest on the A$ Notes will be paid on in accordance with the order of priority described in section 17.6.
Similarly, upon the occurrence of a Series Event of Default and enforcement of the Security, holders of Registered Global Notes will be restricted to acting through Euroclear and Clearstream, Luxembourg unless and until Definitive Class A1c Notes are issued in accordance with the relevant provisions described in Section 14 (“Descriptions of the Class A1c Notes”) of this Offering Circular.
Upon the occurrence of a Series Event of Default which is continuing, the relevant Series Masse Meeting may declare the outstanding Notes of the concerned Series immediately due and payable.
So long as any part of the Notes remains outstanding the Issuer will, upon becoming aware of the occurrence of any Series Event of Default, give notice in writing thereof to the Series Note Trustee and any Series Hedge Provider in respect of that Series.
Prior to the occurrence of a Series Event of Default and the enforcement of the Series Charge under the Series General Security Deed, interest on the A$ Notes will be paid on each Payment Date in accordance with the order of priority described in section 16.2. After the occurrence of a Series Event of Default and the enforcement of the Series Charge under the Series General Security Deed, interest on the A$ Notes will be paid on in accordance with the order of priority described in section 16.6.
However, the failure of the Borrower or the Servicer to cooperate with the Lender in transferring servicing responsibilities to a replacement servicer following the failure of an Asset Series to comply with the 75% Test or to use reasonable best efforts to sell a requested portion of the Asset Series as required by Section 2.9(a) shall constitute a Loan Series Event of Default under this Agreement.
Similarly, upon the occurrence of a Series Event of Default and enforcement of the Security, holders of Registered Global Notes will be restricted to acting through Euroclear and Clearstream, Luxembourg unless and until Definitive Class A1c Notes are issued in accordance with the relevant provisions described in Section 13 (“Descriptions of the Class A1c Notes”) of this Offering Circular.