Examples of Asset Monitor Agreement in a sentence
The Asset Monitor is required under the Asset Monitor Agreement to satisfy the applicable eligibility requirements of the Banking Act for a cover pool monitor and to perform the functions required to be performed by a cover pool monitor under the Banking Act.
Principal Transaction Documents: Asset Monitor Agreement and Administration Agreement.
The role of the Asset Monitor under the Asset Monitor Agreement is described further below under Overview of the Principal Documents – Asset Monitor Agreement.
To address this risk, it has been agreed in the Asset Monitor Agreement that an amount equal to the Construction Deposit will be deducted from the Current Balance of the Transferred Receivables for the purpose of the Asset Cover Test and the Amortisation Test.
Prior to the occurrence of an Issuer Event of Default, the Asset Monitor will, subject to receipt of the relevant information from the Cash Manager, carry out the arithmetic testing of, and report on the arithmetic accuracy of, the calculations performed by the Cash Manager in respect of the Asset Coverage Test and the OC Valuation once each year and more frequently in certain circumstances as required by the terms of the Asset Monitor Agreement.