Breakage Amounts definition

Breakage Amounts has the meaning specified in Section 2.8.

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Breakage Amounts. If (a) the Repurchase Date for this Transaction occurs prior to the scheduled Repurchase Date by reason of the occurrence of an Event of Default (where Seller is the Defaulting Party), a Mandatory Prepayment, a Voluntary Full Prepayment or an event described in paragraph 11(a) of the Agreement in respect of which Seller is the notifying party or (b) a Prepayment Date occurs in connection with a Voluntary Partial Prepayment, then, without limitation of any other payments or deliveries that become due as a result of such event but without duplication, on such Repurchase Date, Seller shall pay to Buyer an amount equal to the Breakage Amount for this Transaction or the applicable portion thereof. If an Event of Default occurs prior to the First Purchase Date (where Seller is the Defaulting Party), Seller shall pay to Buyer an amount equal to the Breakage Amount for this Transaction. For the avoidance of doubt, no Breakage Amount shall be payable by Seller in respect of any Repurchase Date occurring as a result of a Regulatory Event. “Breakage Amount” shall mean, with respect to the Transaction evidenced hereby (or, in the case of a Voluntary Partial Prepayment the applicable portion thereof that is the subject of such Voluntary Partial Prepayment), the present value of the Spread portion of the Transaction Fee Amounts (discounted using a LIBOR discount curve constructed by the Calculation Agent) that would have been payable to Buyer under such Transaction (or the applicable portion thereof) from (and including) the early Repurchase Date or applicable Prepayment Date (as applicable) to (but excluding) the scheduled Repurchase Date, as determined by the Calculation Agent assuming, solely for purposes of determining such amount, that (i) the Spread is equal to the Relevant Rate, (ii) the Repurchase Price payable upon such termination were to remain outstanding until the originally scheduled Repurchase Date and (iii) Seller has transferred to Buyer Securities on each Purchase Date with an aggregate Purchase Price applicable to each Purchase Date as set out in the “Purchase Price” provisions above.

Breakage Amounts means, for each Ownership Group for each funding period, to the extent that an Ownership Group is funding the maintenance of its investment in the Certificates during such funding period through the issuance of Commercial Paper or at the Funding Rate, during which the amount of such investment is reduced (in whole or in part) prior to the end of the period for which it was originally scheduled to remain outstanding (which shall be the maturity date of the related Commercial Paper to the extent then funded by Commercial Paper), whether as a result of a repayment of, or any assignment to another Conduit Purchaser, the Alternate Transferees, or the Program Support Providers of any interest therein (the amount of such reduction being referred to as the "Allocated Amount"), the excess of (a) the discount or interest that would have accrued on 3 the Allocated Amount during the remainder of such funding period if such reduction had not occurred over (b) the income, if any, received by such Ownership Group from investing the Allocated Amount for the remainder of such funding period, each as determined in good faith and on a reasonable basis by such Ownership Group, it being understood that (i) the investments into which the Allocated Amount for any funding period is placed shall mature no later than the date on which such funding period matures and (ii) in investing such Allocated Amount such Ownership Group will, but without limitation to its discretion, endeavor to minimize the associated Breakage Amounts.

Examples of Breakage Amounts in a sentence

• Such amounts shall be payable as Breakage Amounts by the Issuer pursuant to Section 9.04 of the Indenture.

• The Purchase Price Adjustment shall be calculated in accordance with the following formula (subject to any adjustment on account of any Breakage Amounts in accordance with Section 4(c)(ii)): Purchase Price Adjustment = BAB*(Term SOFR + M)*T/360 where: BAB = the Buyer Amount Balance as of such Settlement Date; Term SOFR = Adjusted Term SOFR for such Settlement Period; M = Applicable Margin; and T = the number of days in the applicable Settlement Period for which the Purchase Price Adjustment is calculated.

• On each Series 2022-1 Prepayment Date with respect to any Series 2022-1 Prepayment, the Series 2022-1 Prepayment Amount, the Series 2022-1 Class A-2 Make-Whole Prepayment Premium, if any, and any associated Series 2022-1 Class A-1 Breakage Amounts applicable to such Series 2022-1 Prepayment shall be due and payable.

• Any Breakage Amounts that are not paid on such first Settlement Date shall continue to be owing under this Agreement until paid in full.

• The Borrower shall pay all Interest, Fees and Breakage Amounts accrued during each Interest Period on each Settlement Date in accordance with the terms and priorities for payment set forth in Section 4.01.

• The Borrower shall pay all Interest, Fees and Breakage Amounts accrued during each Interest Period on each Settlement Date (or, in the case of any prepayment, on the date of such prepayment) in accordance with the terms and priorities for payment set forth in Section 3.01.

• On each Series 2017-1 Prepayment Date with respect to any Series 2017-1 Prepayment, the Series 2017-1 Prepayment Amount and the Series 2017-1 Class A-2 Make-Whole Prepayment Premium, if any, and any associated Series 2017-1 Class A-1 Breakage Amounts applicable to such Series 2017-1 Prepayment shall be due and payable.

• Any associated Series 2017-1 Class A-1 Breakage Amounts incurred as a result of such decrease (calculated in accordance with the Series 2017-1 Class A-1 Note Purchase Agreement) shall be deposited in the Collection Account for allocation pursuant to the Priority of Payments.

• On each Series 2015-1 Prepayment Date with respect to any Series 2015-1 Prepayment, the Series 2015-1 Prepayment Amount and the Series 2015-1 Class A-2 Make-Whole Prepayment Premium, if any, and any associated Series 2015-1 Class A-1 Breakage Amounts applicable to such Series 2015-1 Prepayment shall be due and payable.

• Borrower therefore agrees to pay any and all Breakage Amounts if any Loan is prepaid, whether voluntarily or by reason of acceleration, including acceleration upon any transfer or conveyance of any right, title or interest in the Project giving Administrative Agent on behalf of Lenders the right to accelerate the maturity of the Loans as provided in the Loan Documents.

More Definitions of Breakage Amounts

Breakage Amounts is defined in Section 9.05(c).

Breakage Amounts means any amount payable by the Class A-1 Trust, as borrower, under Section 2.10 of the Loan Agreement as a result of (a) the payment of any principal of any Series A-1 Equipment Note other than on the last day of the Interest Period applicable thereto (including as a result of an Event of Default) or (b) the failure to issue or redeem any Series A-1 Equipment Note on the date specified in any Closing Notice delivered under the Note Purchase Agreement or notice of redemption delivered pursuant hereto (including pursuant to the penultimate sentence of Section 1(e) in respect of any Delayed Aircraft, and regardless of whether such notice may be revoked under the Note Purchase Agreement or this Trust Indenture and is revoked in accordance therewith).

Breakage Amounts means any amounts due and owing pursuant to Section 2.10.

Breakage Amounts means, for the portion of the Series 2000-1 Invested Amount funded at (or, in the case of a requested Advance not made by a Purchaser for any reason other than its default, scheduled to be funded at) the CP Rate or the Eurodollar Rate, the cost to each Purchaser of a reduction or termination of such portion of the Series 2000-1 Invested Amount before the last day of the related Series 2000-1 Tranche Period (the amount of such Series 2000-1 Invested Amount so reduced or terminated being referred to as the "Prepaid Amount"), which cost equals the amount, if any, by which (a) the additional Series 2000-1 Interest Amount which would have accrued during such Series 2000-1 Tranche Period on such Prepaid Amount had such Prepaid Amount remained or become such portion of the Series 2000-1 Invested Amount exceeds (b) the income, if any, received by such Purchaser from reinvesting the Prepaid Amount in Permitted Investments during such Series 2000-1 Tranche Period.

Breakage Amounts means any amounts owed by the Issuer to the Purchaser or any assignee under Section 2.09 of the Note Purchase Agreement.

Breakage Amounts has the meaning specified in Section 2.5. “Business Day” means any day that DTC is open for business at its office in New York City and any day other than a Saturday, Sunday or other day on which banking institutions or trust companies in the States of California, Florida, Illinois, Missouri, New York or Texas are authorized or obligated by Law to be closed. “Calculation Agent” means the party designated as such by the Borrower from time to time, with the written consent of the Controlling Class; initially, the initial Servicer. “Capital Stock” means, with respect to any Person, any and all common shares, preferred shares, interests, participations, rights in or other equivalents (however designated) of such Person’s capital stock, partnership interests, limited liability company interests, membership interests or other equivalent interests and any rights (other than debt securities convertible into or exchangeable for capital stock), warrants or options exchangeable for or convertible into such capital stock or other equity interests. “Cash Equivalents” means (a) securities with maturities of one hundred twenty (120) days or less from the date of acquisition issued or fully guaranteed or insured by the United States government or any agency thereof, (b) certificates of deposit and eurodollar time deposits with maturities of one hundred twenty (120) days or less from the date of acquisition and overnight bank deposits of any commercial bank having capital and surplus in excess of $500,000,000, (c) repurchase obligations of any commercial bank satisfying the requirements of clause (b) of this definition, having a term of not more than seven (7) days with respect to securities issued or fully guaranteed or insured by the United States government, (d) commercial paper of a domestic issuer rated at least A-1 or the equivalent thereof by Standard and Poor’s or P-1 or the equivalent thereof by Moody’s and in either case maturing within ninety (90) days after the day of acquisition, (e) securities with maturities of ninety (90) days or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities of which state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are rated at least A by Standard & Poor’s or A by...