Deposit Event definition

Deposit Event. The lowering of the Servicer’s short-term debt rating below “P-1” by Xxxxx’x, “A-1” by Standard & Poor’s or “F1” by Fitch or any time in which HSBC Finance shall cease to be the Servicer.

Deposit Event. The lowering of the Master Servicer's short-term debt rating below "P-1" by Moody's, "A-1" by Standard & Poor's or "F1" by Fitch or any time ix xxxxx HFC shall cease to be the Master Servicer. Depositor: HFC Revolving Corporation, a Delaware corporation.

Deposit Event. The lowering of the Master Servicer's short-term debt rating below "P-1" by Moody's, "A-1" by Standard & Poor's or "F1" by Fitch or any time in whicx XXX xhall cease to be the Master Servicer. Depositor: HFC Revolving Corporation, a Delaware corporation, and its successors in interest. Depository: The initial Depository shall be The Depository Trust Company, the nominee of which is Cede & Co., as the registered Holder of Class A and Class M Certificates. The Depository shall at all times be a "clearing corporation" as defined in Section 8-102(3) of the UCC of the State of New York.

Examples of Deposit Event in a sentence

• If on any Business Day a Current Spread Reserve Account Deposit Event is not then continuing and all outstanding indemnity payments payable to Purchaser Indemnitees have been paid in full, Seller may direct the Bank to distribute any remaining funds in the Current Spread Reserve Account to, or as directed by, Seller.

• If on any Business Day a Future Spread Reserve Account Deposit Event is not then continuing and all outstanding indemnity payments payable to Purchaser Indemnitees have been paid in full, Seller may direct the Bank to distribute any remaining funds in the Future Spread Reserve Account to, or as directed by, Seller.

• Upon any material breach of a representation, warranty or covenant by Seller hereunder or during the occurrence and continuance of a Current Spread Reserve Account Deposit Event, Purchaser may elect to exercise Control over the Third Party Controlled Current Spread Custodial Account.

• Upon any material breach of a representation, warranty or covenant by Seller hereunder or during the occurrence and continuance of a Future Spread Reserve Account Deposit Event, Purchaser may elect to exercise Control over the Third Party Controlled Future Spread Custodial Account.

• Seller shall immediately notify Purchaser in writing if a Current Spread Reserve Account Deposit Event is no longer continuing.

More Definitions of Deposit Event

Deposit Event means the non-occurrence of the Rainbow Consummation on or prior to December 30, 1997.

Deposit Event. The lowering of AGFC's short-term debt rating below "P-1" by Moody's or "A-1" by S&P.

Deposit Event. The lowering of the Master Servicer's short-term debt rating below "P-1" by Moodx'x xx "F-1" by Fitch.

Deposit Event. The lowering of the Servicer's short-term debt rating below "P-1" by Xxxxx'x, "A-1" by Standard & Poor's or "F1" by Fitch or any time in which COMPASS BANK shall cease to be the Servicer.

Deposit Event. Either (i) the short-term debt obligations of the Servicer not being rated at least "A-1" by Standard & Poor's and "P-1" by Moody's or (ii) the occurrence of an Event of Servicing Termination.

Deposit Event. The lowering of the Master Servicer's short-term debt rating below "P-1" by Xxxxx'x, "A-1" by Standard & Poor's or "F1" by Fitch or any time in which HFC shall cease to be the Master Servicer. DEPOSITOR: Household Mortgage Funding Corporation III, a Delaware corporation, and its successors in interest. DEPOSITORY: The initial Depository shall be The Depository Trust Company, the nominee of which is Cede & Co., as the registered Holder of Class A and Class M Certificates. The Depository shall at all times be a "clearing corporation" as defined in Section 8-102(3) of the UCC of the State of New York.

Deposit Event has the meaning assigned to it in Section 12.2(a).