Turbo Event definition

Turbo Event has the meaning set forth in Section 4.01(c) hereof.
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Turbo Event. The occurrence of an event described in Sections 10.1(a), 10.1(b), 10.1(c), 10.1(d), 10.1(k) (if such event arose under clause (a) of the definition of Material Adverse Effect), 10.1(u) or 10.1(x).
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Turbo Event means any of the following events or circumstances:
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Examples of Turbo Event in a sentence

  • In addition, no later than two Business Days following the Seller’s knowledge or notice of the occurrence of any Turbo Event, Termination Event or Unmatured Termination Event, the Seller will provide to the Administrative Agent a written statement of the chief financial officer or chief accounting officer of Seller setting forth the details of such event and the action that the Seller proposes to take with respect thereto.

  • The Servicer will provide the Administrative Agent with immediate written notice of the occurrence of each Turbo Event, Termination Event and each Unmatured Termination Event of which the Servicer has knowledge or has received notice.

  • In addition, no later than two Business Days following the Servicer’s knowledge or notice of the occurrence of any Turbo Event, Termination Event or Unmatured Termination Event, the Servicer will provide to the Administrative Agent a written statement of the chief financial officer or chief accounting officer of the Servicer setting forth the details of such event and the action that the Servicer proposes to take with respect thereto.

  • The Seller will provide the Administrative Agent with immediate written notice of the occurrence of each Turbo Event, Termination Event and each Unmatured Termination Event of which the Seller has knowledge or has received notice.

  • Promptly after receiving written notice of an event or circumstance that is likely to result in a Commitment Termination Event, a Servicer Termination Event, a Turbo Event or a Termination Event or have a Material Adverse Effect on it, the Collateral, the Lenders or the Certificateholders, notice of such event or circumstance.

  • The earliest of (a) the Advance Termination Date, (b) the occurrence of a Turbo Event, an Event of Default or a Servicer Default, or (c) an Optional Revolving Period Termination Date.

  • Prior to the occurrence of a Turbo Event of the type described in clause (b) or (c) of the definition thereof or of an Event of Default or Servicer Default, the initial Servicer shall be required to bear the expense of no more than two such reviews and audits within any twelve (12) month period and any additional reviews shall be at the expense of the Deal Agent.

  • On and after the occurrence of a Turbo Event of the type described in clause (b) or (c) of the definition thereof or of an Event of Default or Servicer Default, the initial Servicer shall be required to bear the expense of all such reviews.

  • CLASS B-3 TURBO EVENT The "Class B-3 Turbo Event" occurs once the sum of the O/C amount and the class principal balance of the Class B-3 Certificates equals 8.85% of the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date or 17.70% of the current aggregate principal balance of the Mortgage Loans after stepdown.

  • Upon the occurrence of a Class B-3 Turbo Event, the trust fund will apply all of the Excess Interest as principal payments on the Class B-3 Certificates until the Class B-3 Certificates have been paid down to zero.


More Definitions of Turbo Event

Turbo Event. The occurrence of any of the following shall be a Turbo Event:
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Turbo Event. The occurrence of any of the following: (i) as of any Settlement Date, the aggregate Principal Balance of all Eligible Receivables is less than [***]% of the aggregate Principal Balance of all Eligible Receivables as of the last day of the Commitment Period, (ii) applicable segmented Cumulative Net Losses exceed [***]% of the related Baseline Cumulative Net Loss, (iii) the failure of the Borrower and the Lenders to mutually agree to changes in the Advance Rate, the Advance Rate (Part AF) or the Advance Rate (Part S) within [***] days after the applicable segmented three month rolling Vintage Cumulative Net Loss with respect to the related Receivables acquired by the Borrower in each monthly period exceeds [***]% of the related Baseline Cumulative Net Loss, (iv) as of the last calendar day of any month, as reported on the applicable Settlement Report, or the last day of any calendar week, as reported on the applicable Funding Report, the Outstanding Loan Amount exceeds the Borrowing Base (including with reference to the Outstanding Loan Amount (Part AF) exceeding the portion of the Borrowing Base related to funding of Eligible Receivable (Part AF) or to the Outstanding Loan Amount (Part S) exceeding the portion of the [***] Redacted for confidentiality purposes Borrowing Base related to funding of Eligible Receivable (Part S)) and such shortfall remains outstanding for a period of two Business Days after the date of such report, (v) a Termination Event (other than as a result of clause (v) of the definition of Commitment Termination Date), (vi) the occurrence of a termination event (other than as a result of the exercise of an optional walk-a-away right), event of default, or servicer default under (A) the Flow Purchase Agreement or the Other Facility Transaction Documents, or (B) any other credit or purchase facility by the Lenders or any of their Affiliates to Carvana, the Borrower or any of their consolidated Affiliates that enables or permits the holder or holders of such indebtedness or any trustee or agent on its or their behalf to cause such indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity, or (vii) any indebtedness of Carvana or the Borrower or any of their consolidated Affiliates which exceeds [***] in aggregate principal or face amount becoming due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity.
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Turbo Event. The occurrence of the election of WFEFI in accordance with Section 5.7(b) of the Note Purchase Agreement.
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Turbo Event means either (a) the occurrence of the Termination Date pursuant to any of clauses (iii), (iv) or (v) of the definition thereof or (b) following the Termination Date, the occurrence of an Early Amortization Event.
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Related to Turbo Event

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Triggering Event means any Section 11(a)(ii) Event or any Section 13 Event.

  • Exclusion Event means an event or related events resulting in the exclusion of the Borrower or any Subsidiary from participation in any Medical Reimbursement Programs.

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Notification Event means (a) the occurrence of a “reportable event” described in Section 4043 of ERISA for which the 30-day notice requirement has not been waived by applicable regulations issued by the PBGC, (b) the withdrawal of any Loan Party or ERISA Affiliate from a Pension Plan during a plan year in which it was a “substantial employer” as defined in Section 4001(a)(2) of ERISA, (c) the termination of a Pension Plan, the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan amendment as a termination, under Section 4041 of ERISA, if the plan assets are not sufficient to pay all plan liabilities, (d) the institution of proceedings to terminate, or the appointment of a trustee with respect to, any Pension Plan by the PBGC or any Pension Plan or Multiemployer Plan administrator, (e) any other event or condition that would constitute grounds under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan, (f) the imposition of a Lien pursuant to the IRC or ERISA in connection with any Employee Benefit Plan or the existence of any facts or circumstances that could reasonably be expected to result in the imposition of a Lien, (g) the partial or complete withdrawal of any Loan Party or ERISA Affiliate from a Multiemployer Plan (other than any withdrawal that would not constitute an Event of Default under Section 8.12), (h) any event or condition that results in the reorganization or insolvency of a Multiemployer Plan under Sections of ERISA, (i) any event or condition that results in the termination of a Multiemployer Plan under Section 4041A of ERISA or the institution by the PBGC of proceedings to terminate or to appoint a trustee to administer a Multiemployer Plan under ERISA, (j) any Pension Plan being in “at risk status” within the meaning of IRC Section 430(i), (k) any Multiemployer Plan being in “endangered status” or “critical status” within the meaning of IRC Section 432(b) or the determination that any Multiemployer Plan is or is expected to be insolvent or in reorganization within the meaning of Title IV of ERISA, (l) with respect to any Pension Plan, any Loan Party or ERISA Affiliate incurring a substantial cessation of operations within the meaning of ERISA Section 4062(e), (m) an “accumulated funding deficiency” within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) or the failure of any Pension Plan or Multiemployer Plan to meet the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA), in each case, whether or not waived, (n) the filing of an application for a waiver of the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) with respect to any Pension Plan or Multiemployer Plan, (o) the failure to make by its due date a required payment or contribution with respect to any Pension Plan or Multiemployer Plan, (p) any event that results in or could reasonably be expected to result in a liability by a Loan Party pursuant to Title I of ERISA or the excise tax provisions of the IRC relating to Employee Benefit Plans or any event that results in or could reasonably be expected to result in a liability to any Loan Party or ERISA Affiliate pursuant to Title IV of ERISA or Section 401(a)(29) of the IRC, or (q) any of the foregoing is reasonably likely to occur in the following 30 days.

  • Put Event means the occurrence of any of the following:

  • Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark:

  • Event Date shall have the meaning set forth in Section 2(d).