Acting Beneficiaries Upon Default definition

Acting Beneficiaries Upon Default means, as such term is used in Article Six hereof:
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Acting Beneficiaries Upon Default means as such term is used in Article VI of the Indenture:
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Acting Beneficiaries Upon Default means:
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Examples of Acting Beneficiaries Upon Default in a sentence

  • No delay or omission to exercise any right or power accruing upon any Event of Default shall impair any such right or power or shall be construed to be a waiver of any such Event of Default or acquiescence therein; and every such right and power may be exercised from time to time and as often as may be deemed expedient by the Trustee or the Acting Beneficiaries Upon Default, as the case may be.

  • In any judicial proceeding to which the Issuer is a party and which in the opinion of the Trustee and its Counsel has a substantial bearing on the interest of the Beneficiaries, the Trustee may intervene on behalf of Beneficiaries and shall do so if requested in writing by the Acting Beneficiaries Upon Default.

  • Whenever any Event of Default shall have occurred and be continuing, the Trustee may (and upon the written request of the Acting Beneficiaries Upon Default, the Trustee shall), by notice in writing delivered to the Issuer, declare the principal of and interest accrued on all Notes then Outstanding due and payable.

  • Remedies Whenever any Event of Default has occurred and is continuing, the Trustee may (and, upon the written request of the Acting Beneficiaries Upon Default, the Trustee will), by notice in writing delivered to the Issuer, declare the principal of and interest accrued on all Notes then Outstanding due and payable and such principal and interest will become immediately due and payable.

  • Forms may be modified if all of the content is included.All forms are posted on the Commerce CHG website.

  • Whenever any Event of Default described in Section 6.01 hereof shall have occurred and be continuing, the Trustee may (and upon the written request of the Acting Beneficiaries Upon Default, the Trustee shall), by notice in writing delivered to the Issuer, declare the principal of and interest accrued on all Notes then Outstanding due and payable.

  • Whenever any Event of Default described in Section 6.01 shall have occurred and be continuing, the Trustee may (and upon the written request of the Acting Beneficiaries Upon Default, the Trustee shall), by notice in writing delivered to the Issuer, declare the principal of and interest accrued on all Notes then Outstanding due and payable.

  • Direction of Proceedings by Acting Beneficiaries Upon Default 70 Section 6.05.

  • Upon the occurrence of a Servicer Default, Access Group may, or at the direction of the Acting Beneficiaries Upon Default affected by the Servicer Default, Access Group shall, transfer the servicing of the Financed Student Loans to a successor Servicer selected by Access Group.

  • Direction of Proceedings by Acting Beneficiaries Upon Default 72 Section 6.05.


More Definitions of Acting Beneficiaries Upon Default

Acting Beneficiaries Upon Default means: • at any time that any senior obligations are outstanding: • with respect to directing the trustee to accelerate the outstanding notes: • upon any of the first four events of default listed under “Description of the Indenture — Events of Default” in this prospectus, the holders of a majority in aggregate principal amount of senior notes outstanding and • upon any other event of default, the holders of a majority in aggregate principal amount of all offered notes outstanding; • with respect to requesting the trustee to exercise rights and powers under the indenture, directing the conduct of proceedings in connection with the enforcement of the indenture and requiring the trustee to waive events of default (other than with respect to directing the trustee to accelerate the outstanding notes): • the holders of a majority in aggregate principal amount of the senior notes outstanding unless the trustee receives conflicting requests or directions from any other senior beneficiary; or • any other senior beneficiary, unless the trustee determines that the requested action is not in the overall interest of the senior beneficiaries or receives conflicting requests or directions from any other senior beneficiary or the holders of a majority in aggregate principal amount of the senior notes outstanding; and • with respect to all other matters under the indenture, the holders of a majority in aggregate principal amount of senior notes outstanding or any other senior beneficiary; • at any time that no senior obligations are outstanding but subordinate obligations are outstanding: • with respect to directing the trustee to accelerate the outstanding notes: • upon any of the first four events of default listed under “Description of the Indenture — Events of Default” in this prospectus, the holders of a majority in aggregate principal amount of subordinate notes outstanding, and • upon any other event of default, the holders of a majority in aggregate principal amount of all offered notes outstanding;
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Related to Acting Beneficiaries Upon Default

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Automatic Early Redemption Event means that:

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Termination Upon a Change in Control means a termination of Officer’s employment with Corporation within 12 months following a “Change in Control” that constitutes a Termination Other Than For Cause described in Section 2.1(b).

  • Change of Control Redemption Price shall have the meaning set forth in Section 7.3;

  • Change of Control Redemption Date shall have the meaning set forth in Section 7.2;

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Early Termination Conditions means the types of conditions listed in Schedule A.

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

  • Event of Servicer Termination With respect to the Servicing Agreement, a Servicing Default as defined in Section 6.01 of the Servicing Agreement.

  • Change of Control Redemption Premium means 125%.

  • Automatic Early Redemption Date means each Automatic Early Redemption Date specified in the relevant Final Terms.

  • Credit Event Upon Merger has the meaning specified in Section 5(b).

  • Triggering Events means Triggering Event I, Triggering Event II and Triggering Event III, collectively.

  • Automatic Early Redemption Amount means the Automatic Early Redemption Amount specified in the relevant Final Terms.

  • Specified Event of Default means any Event of Default pursuant to Section 9.01(a), Section 9.01(f) or Section 9.01(g).

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Event of Servicing Termination means an event specified in Section 8.1 of the Sale and Servicing Agreement.

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Swap Provider Trigger Event A Swap Termination Payment that is triggered upon: (i) an Event of Default under the Interest Rate Swap Agreement with respect to which the Swap Provider is a Defaulting Party (as defined in the Interest Rate Swap Agreement), (ii) a Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party (as defined in the Interest Rate Swap Agreement) or (iii) an Additional Termination Event under the Interest Rate Swap Agreement with respect to which the Swap Provider is the sole Affected Party.

  • Acceleration Notice shall have the meaning specified in Section 6.2.

  • 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.

  • Non-Monetary Default shall have the meaning assigned to such term in Section 11(d).