Total Loss Termination Event means an event or circumstance where (i) a Series comprises Lease Assets but does not also comprise Airtime Vouchers at such time (ii) a Total Loss Event has occurred and (iii) Axiata is unable, within 45 days of the Total Loss Event occurring, to lease new assets to the Trustee pursuant to a Supplemental Headlease Agreement or (in its capacity as Wakeel) purchase Airtime Vouchers pursuant to a Supplemental Airtime Purchase Agreement, in each case for an amount at least equal to the Takaful/Insurance Coverage Amount;

Total Loss Termination Event means an event or circumstances where:

Total Loss Termination Event means an event or circumstance where (i) a Total Loss Event has occurred and (ii) the Servicing Agent is unable within 30 days of the Total Loss Event occurring to arrange for the purchase of new Assets by the Trustee from Sime Darby Plantation for an amount at least equal to the Full Reinstatement Value (using the takaful/insurance proceeds and/or any Total Loss Shortfall Amount received as a result of such Total Loss Event) pursuant to a Supplemental Purchase Agreement.

Examples of Total Loss Termination Event in a sentence

Subject to Condition 8.5 (Cessation of Profit Entitlement), Condition 12.2 (Early Dissolution for Tax Reasons), Condition 12.3 (Dissolution following a Total Loss Termination Event) and Condition 16 (Dissolution Event), and unless otherwise specified in the applicable Pricing Supplement, each Periodic Distribution Amount will be paid in respect of the relevant Sukuk in arrear on each Periodic Distribution Date.
In relation to a Series which comprises Lease Assets, following the occurrence of a Total Loss Termination Event, the Sukuk will be redeemed and the Trust dissolved by the Trustee on the date notified by the Principal Paying Agent (the “Total Loss Dissolution Date”) in a notice given to the Sukukholders in accordance with Condition 18 (Notices).
Where the Wakala Sukuk Assets comprises Lease Assets, upon the occurrence of a Total Loss Termination Event, the Certificates will be redeemed and the Trust dissolved by the Trustee on the date notified by the Principal Paying Agent (the “Total Loss Dissolution Date”) in a notice given to the Certificateholders in accordance with Condition 17 (Notices).

More Definitions of Total Loss Termination Event

Total Loss Termination Event means an event or circumstance where:

Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.