Amortization Event. If an Amortization Event under Section 7.1(a), (b) or (d) of the Series 2018-1 Purchase Agreement occurs and is continuing, then the Trust shall deliver to CIBC, as initial servicer, and any Successor Servicer the notice referred to in Section 7.2(1) of the Series 2018-1 Purchase Agreement, unless the Trust is satisfied that such Amortization Event occurred as a result of inadvertence or error on the part of CIBC, as initial servicer, or a Successor Servicer and is capable of timely rectification without having a material adverse effect on the holders of Series 2018-1 Notes or unless the Trust is directed to rescind and annul such Amortization Event in accordance with Section 7.3 of the Series 2018-1 Purchase Agreement by a resolution passed by the holders of the Series 2018-1 Notes holding a majority of the aggregate principal amount of the Series 2018-1 Notes; provided that notwithstanding that the Amortization Event may have occurred as a result of such inadvertence or error, the Trust shall deliver to CIBC, as initial servicer and any Successor Servicer, such notice if directed to do so by a resolution passed by such holders.
Amortization Event. (i) Upon the occurrence of an Amortization Event with respect to one or more, but not all, Outstanding Series of Group II Notes, the Trustee shall exercise all remedies hereunder to the extent necessary to pay all interest on and principal of the related Series of Group II Notes up to the Principal Amount of each such Series of Group II Notes; provided that, any such actions shall not adversely affect in any material respect the interests of the Group II Noteholders of any Series of Group II Notes Outstanding with respect to which no Amortization Event shall have occurred.
Amortization Event. No Amortization Event shall have occurred and be continuing on such date or after giving effect to the purchases or substitutions to be made on such date.
Amortization Event. To the best of its knowledge, no Amortization Event has occurred or is continuing.
Amortization Event. Upon the occurrence of an Amortization Event with respect to one or more, but not all, Series of Notes Outstanding, the Trustee shall exercise all remedies hereunder to the extent necessary to pay all interest and principal on the related Series of Notes, provided that any such actions shall not adversely affect in any material respect the interests of the Noteholders of any Series of Notes Outstanding with respect to which no Amortization Event shall have occurred.
Amortization Event. Each of the following events or occurrences described in this Section 9.1 shall constitute an "Amortization Event".
Amortization Event. “Amortization Event” means the occurrence of any Amortization Event as specified in the related Supplement for any Series (whatever the reason for such Amortization Event and whether it shall be voluntary or involuntary or be affected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any Governmental Authority). Once an Amortization Event has occurred, such Amortization Event shall continue at all times thereafter unless such Amortization Event is waived or cured in accordance with the provisions of the related Supplement.
Amortization Event. The occurrence of any of the following events: (i) on any Payment Date after giving effect to all purchases of Additional Loans (or the funding of any additional Dealer Loan Contracts allocated to an open pool of Dealer Loan Contracts securing a Dealer Loan) on such date, the amount on deposit in the Principal Collection Account is greater than 5.0% of the Adjusted Collateral Amount for two (2) or more Business Days; (ii) on any Payment Date after giving effect to all purchases of Additional Loans, the Adjusted Collateral Amount is less than the Minimum Collateral Amount and such deficiency continues for two (2) or more Business Days; (iii) a Reserve Advance is made, except if on the date of such Reserve Advance, the Capital is zero; (iv) cumulative Collections through the end of the related Collection Period, expressed as a percentage of the cumulative Forecasted Collections though the end of the related Collection Period, are less than 90.0% for any three (3) consecutive Collection Periods; (v) on any Payment Date, the Weighted Average Spread Rate is less than the Minimum Weighted Average Spread Rate; (vi) the Borrower fails to make a payment or deposit when required under this Agreement or within any applicable grace or cure period; or (vii) the Commitment Termination Date.
Amortization Event. Upon the occurrence of an Amortization Event with respect to one or more, but not all, Series of Notes Outstanding, the Trustee shall, subject to Section 10.1 exercise all remedies hereunder to the extent necessary to pay all interest on and principal of the related Series of Notes and all other amounts owing hereunder with respect to such Series of Notes; provided that, subject to Section 9.5 and Section 10.1(d) and the other rights of the Trustee hereunder, any such actions shall not adversely affect in any material respect the interests of the Noteholders of any Series of Notes Outstanding with respect to which no Amortization Event shall have occurred and shall not adversely affect in any material respect the interests of the Segregated Noteholders of any Segregated Series of Notes Outstanding.
Amortization Event. As defined in Article IX.
