Special Amortization definition

Special Amortization. The meaning specified in Section 9.7 hereof.
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Special Amortization. The election of the Collateral Manager to amortize the Notes because it has determined, in its sole discretion, that investments in Additional Collateral Interests would either be impractical or not beneficial.
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Special Amortization. The amortization of the Notes in whole or in part sequentially in order of seniority by the Issuer on one or more Payment Dates during the Reinvestment Period after the occurrence of any event giving rise to a Special Amortization as set forth in Section 9.01(c).
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Examples of Special Amortization in a sentence

  • The Holders of the Notes also may not be able to reinvest the principal received due to a Special Amortization in one or more investments providing a return equal to or greater than the return the Holders of the Notes expected to obtain from their investment in the Notes which could adversely impact the returns to the Holders of the Notes.

  • No principal will be paid on any subordinate Class of Rated Notes in a Special Amortization unless each Class of Rated Notes senior to such subordinate Class of Rated Notes has been paid in full.

  • The holders of the Rated Notes also may not be able to reinvest the principal received due to a Special Amortization in one or more investments providing a return equal to or greater than the return the holders of the Rated Notes expected to obtain from their investment in the Rated Notes which could adversely impact the returns to the holders of the Rated Notes.

  • The Collateral Manager shall notify the Trustee, the Issuer, the Co-Issuer and each Hedge Counterparty (if any) of such election (a "Special Amortization") and the amount to be amortized (such amount, the "Special Amortization Amount").

  • No principal will be paid on any Subordinate Class of Notes in a Special Amortization unless each Class of Notes senior to such Subordinate Class of Notes has been paid in full.

  • In connection with any Special Amortization, the Class A-1AR Commitments will be reduced simultaneously as described in Section 18.1(e).

  • On the first Payment Date following the date on which such notice is given, the Special Amortization Amount will be applied as Principal Proceeds to the extent available in accordance with the Priority of Payments to redeem the Secured Notes, and may be applied pro rata among the Secured Notes if the Special Amortization Pro Rata Condition is met.

  • For any period, the sum of all Interest Expense and mandatory principal payments due and payable by the Borrowers during such period excluding any balloon payments due upon maturity of any indebtedness (including the "Stipulated Amortization Amount" but not any "Special Amortization Amount" (as such terms are defined in the Cash Collateral Account Agreement)).

  • To the extent that the Issuer fails to purchase or cause to be purchased a Hedge Agreement following a Special Amortization Event in the timeframe described above, the Administrative Agent is authorized to obtain such Hedge Agreement on behalf of the Issuer and to direct the Indenture Trustee to withdraw from the Hedge Reserve Account, to the extent of funds available therein, the applicable Hedge Agreement premium and to pay such amount to the related Qualified Hedge Counterparty.

  • On the first Payment Date following any date on which such notice is given, amounts remaining after giving effect to clauses (A) through (N) of the Principal Waterfall in an amount equal to the Special Amortization Amount will be applied to pay principal of the Secured Notes, sequentially in order of seniority.

Related to Special Amortization

  • Negative Amortization That portion of interest accrued at the Note Rate in any month which exceeds the Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan.

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Special Payment Date means each Distribution Date with respect to the Early Amortization Period.