Common use of Accelerated Payment Events Clause in Contracts

Accelerated Payment Events. If any one of the following events shall occur with respect to the Series 1997-1 Notes: (i) for any two (2) consecutive Distribution Dates after giving effect to all transactions and distributions to occur hereunder on such dates, the Adjusted Principal Amount on such dates shall exceed the Series Asset Base on such date; or (ii) for any two (2) consecutive Distribution Dates after giving effect to all transactions and distributions to occur hereunder on such dates, the Aggregate Adjusted Principal Amount on such dates shall exceed the Asset Base on such date; or (iii) on any Distribution Date after giving effect to all transactions and distributions to occur hereunder on such date, the aggregate Discounted Lease Balances shall be less than $20,000,000; or (iv) for any two (2) consecutive Distribution Dates after giving effect to all transactions and distributions to occur hereunder on such dates, the average of the Discounted Lease Balances of Included Leases that were classified as Delinquent Leases on the last day of each of the three preceding Monthly Periods exceeds 5% of the average Aggregate Pool Balance on the last day of such three preceding Monthly Periods; or (v) for any two (2) consecutive Distribution Dates after giving effect to all transactions and distributions to occur hereunder on such dates, the Discounted Lease Balances of Included Leases that became Defaulted Leases during the three preceding Monthly Periods exceeds 4% of the average Aggregate Pool Balance on the last day of such three preceding Monthly Periods; or (vi) for any two (2) consecutive Distribution Dates, Series 1997-1 Note Interest shall not have been paid with respect to the Series 1997-1 Notes; or (vii) an Accelerated Payment Event, as defined in the related Supplement, has occurred with respect to any other Series; then, and in any such event after the applicable grace period set forth in such subparagraphs, an accelerated payment event (an "Accelerated Payment Event") shall occur as of the date of such notice.

Accelerated Payment Events. If any one of the following events shall occur with respect to the Series 19971995-1 Notes: (i) for on any two (2) consecutive Distribution Dates after giving effect to all transactions and distributions to occur hereunder on such dates, the Adjusted Principal Amount on each such dates date shall exceed be less than the Series Asset Base on each such date; or (ii) for on any two (2) consecutive Distribution Dates after giving effect to all transactions and distributions to occur hereunder on such dates, the Aggregate Adjusted Principal Amount on each such dates date shall exceed the Asset Base on each such date; or (iii) on any Distribution Date after giving effect to all transactions and distributions to occur hereunder on such date, the aggregate Discounted Lease Balances shall be less than $20,000,000; or (iv) for any two (2) consecutive Distribution Dates after giving effect to all transactions and distributions to occur hereunder on such dates, the Series Subordinated Amount on each such date shall be less than the Required Series Subordinated Amount on each such date; or (iv) on any two consecutive Distribution Dates after giving effect to all transactions and distributions to occur hereunder on such dates, the product of (A) the average of the Discounted Lease Balances of Included Leases that were classified as Delinquent Leases on the last day of each of the three preceding Monthly Periods Periods, and (B) twelve, exceeds 5% of the average Aggregate Pool Balance on the last day of such three preceding Monthly Periods; or (v) for on any two (2) consecutive Distribution Dates after giving effect to all transactions and distributions to occur hereunder on such dates, the product of (A) the Discounted Lease Balances of Included Leases that became Defaulted Leases during the three preceding Monthly Periods Periods, and (B) four, exceeds 4% of the average Aggregate Pool Balance on the last day of such three preceding Monthly Periods; or (vi) for on any two (2) six consecutive Distribution Dates, Series 1997-1 Note Interest shall not have been paid with respect to the Series 1997-1 Class A Notes or the Class B Notes; or (vii) an Accelerated Payment Event, as defined in the related Supplement, has occurred with respect to any other Series; then, and in any such event after the applicable grace period set forth in such subparagraphs, an accelerated either the Administrative Agent or the Required Purchasers or the Required Class B Purchasers, by notice then given in writing to the Transferor and the Servicer (and to the Trustee if given by the Noteholders) may declare that a payment event (an "Accelerated Payment Event") shall occur has occurred as of the date of such notice.