Step-Down Date definition

Step-Down Date. The earliest of the Distribution Date in [MONTH/YEAR] or any succeeding Distribution Date on which the following conditions are satisfied as of the last day of the month preceding such Distribution Date:

Step-Down Date has the meaning set forth in the form of the Security contained in Section 202.

Step-Down Date. The later to occur of:

Examples of Step-Down Date in a sentence

• The Step-Down Date must not be a date earlier than the time the Processor’s variation under clause 14.2 occurs, in accordance with section 27 of the Code.

• As required by section 28(4)(c) of the Code, a Processor wishing to vary this Agreement under clause 14.2(a) must give the Farmer and the Australian Competition and Consumer Commission 30 days’ written notice of the following: (a) The Step-Down; and (b) the date the step-down will take effect (Step-Down Date).

• The Company shall provide the Trustee with written notice of the date of any Registration Default and the Step-Down Date.

• Within five days after any Step-Up, Subsequent Step-Up, Step-Down Date or Subsequent Step-Down Date, the Company shall deliver an Officers' Certificate to the Trustee stating the new interest rate and the date on which it became effective.

• The Step-Down Date must not be a date earlier than the time ADFC's variation under clause 13 occurs.

More Definitions of Step-Down Date

Step-Down Date. The later to occur of: (x) The earlier of:

Step-Down Date has the meaning set forth in the form of face of the Global Security in Section 2.02.

Step-Down Date the earlier of (A) the date on which the aggregate Class Note Balances of the Class A Notes have been reduced to zero and (B) the later to occur of:

Step-Down Date. The earlier to occur of (1) the Distribution Date on which the aggregate Outstanding Certificate Principal Balance of the Class A Certificates has been reduced to zero and (2) the later to occur of (x) the Distribution Date occurring in May 2010 and (y) the first Distribution Date on which the Senior Enhancement Percentage is greater than or equal to 10.80% (for the purpose of this definition only, the Senior Enhancement Percentage shall be calculated prior to the distribution of the Principal Distribution Amount to the Class M and Class B Certificates).

Step-Down Date has the meaning set forth in the form of the Security contained in Section 2.02.

Step-Down Date. The later of (i) the Payment Date in March 2005 and (ii) the first Payment Date on which the aggregate Stated Principal Balance of the Mortgage Loans (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the related Prepayment Period) is equal to or less than 50% of the Cut-off Date Principal Balance plus the Original Pre-Funded Amount.

Step-Down Date means September 30, 2022; provided that if a Specified Event shall have occurred, the Step-Down Date shall be the later of (x) June 30, 2021 and (y) the last day of the fiscal quarter ended after the date on which such Specified Event shall have occurred.