Special Amortization Sample Clauses

Special Amortization. The Notes may be amortized in part by the Issuer (at the election and direction of the Collateral Manager) if, at any time during the Reinvestment Period, the Collateral Manager has been unable, for a period of at least thirty (30) consecutive days, to identify Substitute Collateral Debt Securities that it determines would be appropriate and would meet the Eligibility 185 Criteria in sufficient amounts to permit the reinvestment of all or a portion of the Principal Proceeds on deposit in the Principal Collection Account and the amounts on deposit in the Unused Proceeds Account in Substitute Collateral Debt Securities. The Collateral Manager shall notify the Trustee, the Issuer, the Co-Issuer and each Hedge Counterparty of such election (a “Special Amortization”) and the amount to be amortized (such amount, the “Special Amortization Amount”). On the first Payment Date following the date on which such notice is given, the Special Amortization Amount will be applied to amortize the Notes in accordance with the Priority of Payments (i) on a pro rata basis (based on the Aggregate Outstanding Amount of each Class) among all Classes of Notes (without regard to any Capitalized Interest) if each of the S&P Special Amortization Pro Rata Condition and the Moody’s Special Amortization Pro Rata Condition is satisfied with respect to the related Payment Date and each of the Coverage Tests is satisfied as of such Payment Date (after giving effect to Mandatory Redemption Payments actually made, if any, on such Payment Date); or (ii) sequentially among all Classes of Notes, if either the S&P Special Amortization Pro Rata Condition or the Moody’s Special Amortization Pro Rata Condition is not satisfied with respect to the related Payment Date or any Coverage Test is not satisfied as of such Payment Date (after giving effect to Mandatory Redemption Payments actually made, if any, on such Payment Date); provided, however, that all amounts representing recoveries in respect of Defaulted Securities will be distributed sequentially in any event, in accordance with Section 11.1(a)(ii)(12).
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Special Amortization. The Notes may be amortized in part by the Issuer (at the election and direction of the Collateral Manager) if, at any time during the Reinvestment Period, the Collateral Manager has been unable, for a period of at least 30 consecutive days, to identify Collateral Debt Securities that it determines would be appropriate and would meet the Eligibility Criteria in sufficient amounts to permit the reinvestment of all or a portion of the Principal Proceeds then on deposit in the Principal Collection Account and the amounts on deposit in the Unused Proceeds Account in
Sample 1
Special Amortization. If the Collateral Manager notifies the Trustee in writing that it has determined, in its sole discretion, that investments in additional Collateral Interests would either be impractical or not beneficial, the amount of such Collateral Principal Collections available pursuant to Section 11.1(b)(22), as determined by the Collateral Manager (the Special Amortization Amount) shall be applied to the payment of principal of the Notes on the next succeeding Payment Date (a Special Amortization) in accordance with Section 11.1(b)(22)(ii) hereof. Payments of principal of the Notes pursuant to Section 11.1 (b)(22)(ii) shall be made:
Sample 1
Special Amortization. The Notes may be amortized in part by the Issuer (at the election and direction of the Collateral Manager) if, at any time during the Reinvestment Period, the Collateral Manager has been unable to identify Collateral Debt Securities that it determines would be appropriate and would meet the Eligibility Criteria in sufficient amounts to permit the reinvestment of all or a portion of the Principal Proceeds then on deposit in the Principal Collection Account and the amounts on deposit in the Unused Proceeds Account in
Sample 1
Special Amortization. During the Reinvestment Period, the Collateral Manager may direct the Issuer at least three Business Days prior to any Payment Date to effect a Special Amortization on one or more Payment Dates if, at any time during the related Due Period (A) the Collateral Manager has been unable, for a period of at least 30 consecutive days, to identify Collateral Debt Obligations that it determines would be appropriate and would meet the Reinvestment Criteria in sufficient amounts to permit the reinvestment of all or a portion of the Principal Collections then deposited in the Collection Accounts in Additional Collateral Debt Obligations and (B) the Collateral Manager elects, in its sole discretion, to designate all or a portion of such Principal Collections for payment of principal of the Secured Notes in order of seniority by notification to the Trustee, the Rating Agencies and the Issuer (the amount of such Principal Collections, the “Special Amortization Amount”). On the first Payment Date following any date on which such notice is given, amounts remaining after giving effect to clauses (A) through (N) of the Principal Waterfall in an amount equal to the Special Amortization Amount will be applied to pay principal of the Secured Notes, sequentially in order of seniority. The Collateral Manager may withdraw any notice designating Principal Collections as a Special Amortization Amount on or prior to the related Calculation Date. Any such Special Amortization resulting in a repayment of principal of the Class A-2 Notes shall also result in a permanent reduction of Class A-2 Commitments.
Sample 1

Related to Special Amortization

  • Rapid Amortization Events If any one of the following events occurs during the Managed Amortization Period:

  • Expected Amortization Schedule for Principal Unless an Event of Default shall have occurred and be continuing on each Payment Date, the Indenture Trustee shall distribute to the Holders of record as of the related Record Date amounts payable pursuant to Section 8.02(e) of the Indenture as principal, in the following order and priority: (1) to the holders of the Tranche A-[ ] Recovery Bonds, until the Outstanding Amount of such Tranche of Recovery Bonds thereof has been reduced to zero; (2) to the holders of the Tranche A-[ ] Recovery Bonds, until the Outstanding Amount of such Tranche of Recovery Bonds thereof has been reduced to zero; and (3) to the holders of the Tranche A-[ ] Recovery Bonds, until the Outstanding Amount of such Tranche of Recovery Bonds thereof has been reduced to zero; provided, however, that in no event shall a principal payment pursuant to this Section 3(c) on any Tranche on a Payment Date be greater than the amount necessary to reduce the Outstanding Amount of such Tranche of Recovery Bonds to the amount specified in the Expected Amortization Schedule set forth on Schedule A attached hereto for such Tranche and Payment Date.

  • Amortization Such Mortgage Loan does not provide for negative amortization unless such Mortgage Loan is an ARD Mortgage Loan, in which case it may occur only after the Anticipated Repayment Date.

  • Prepayment Premiums As of the applicable date of origination of each such Mortgage Loan, any prepayment premiums and yield maintenance charges payable under the terms of the Mortgage Loans, in respect of voluntary prepayments, constituted customary prepayment premiums and yield maintenance charges for commercial mortgage loans.

  • Early Amortization Events In addition to the events identified as Early Amortization Events in Article XII of the Indenture, the occurrence of any of the following events (each, an “Early Amortization Event”) shall result in an early amortization event for the Series [•] Notes:

  • Special Payments Any payroll adjustment due an employee in the bargaining unit as a result of working out of class, re-computation of hours, or other reasons other than procedural errors shall be made and a supplemental check issued not later than fifteen (15) working days following notice to the payroll department.

  • Prepayment Fees Borrower agrees to pay to each [New Term Loan Lender] the following prepayment fees, if any: [ ]. [Insert other additional prepayment provisions with respect to New Term Loans]

  • Special Payment If (1) you submit a Claim Notice in accordance with Paragraph B above on your own behalf (and not on behalf of any other party); (2) we refuse to provide you with the relief you request; and (3) an arbitrator subsequently determines that you were entitled to such relief (or greater relief), the arbitrator shall award you at least $5,100 (plus any fees and costs to which you are entitled).

  • Scheduled Payments As of the Cutoff Date, each Receivable had a first scheduled due date on or prior to the end of the third month immediately following the Cutoff Date.

  • Prepayment Premium Borrower will be required to pay a prepayment premium in connection with certain prepayments of the Indebtedness, including a payment made after Lender’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.

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