Collection Notice Event definition

Collection Notice Event means (a) the occurrence of any Potential Amortization Event under Section 9.1(d), (b) the occurrence with respect to Servicer or Performance Guarantor of any event of the type described in Section 9.1(d), but without regard to the 60 day grace period included in the last clause thereof, (c) the occurrence of any Amortization Event or (d) the occurrence of a Material Adverse Effect (as such term is defined herein, in the Receivables Sale Agreement or in any Xxxxxxx RPA).
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Collection Notice Event means (a) (i) the rating of Servicer’s long-term senior unsecured debt rating, as in effect on the date of this Agreement shall have been reduced by one notch by either Rating Agency and (ii) such Rating Agency shall have announced a negative outlook with respect to such reduced rating, and the event described in this clause (i) shall have continued for a period of ten days, or (ii) such rating shall have been reduced by two or more notches by either Rating Agency or shall have been withdrawn. (It is intended by the parties that a “notch” refers to a rating subcategory within a main rating category by a Rating Agency, e.g., a change from B1 to B2 by Xxxxx’x or from B+ to B by S&P each shall constitute a reduction of one notch.)
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Collection Notice Event means (a) the occurrence of any Potential Servicer Default under Section 9.1(e), (b) the occurrence with respect to the Originator of any event of the type described in Section 9.1(e) (but without regard to the 60-day grace period included in the last clause thereof) or (c) the occurrence of any Servicer Default.
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Examples of Collection Notice Event in a sentence

  • The Agent (on behalf of the Purchasers) may, and at the direction of the Required Financial Institutions shall, at any time following the occurrence of a Collection Notice Event, by notice to Xxxxxxx and Seller designate any Person to succeed Xxxxxxx as Servicer or any successor Servicer.

  • The Program Agent (acting with the consent or at the direction of the Required Committed Investors) is authorized at any time when an Amortization Event exists or a Collection Notice Event has occurred and is continuing, to date and to deliver to the Collection Banks the Collection Notices and thereafter to make transfers and payments from Blocked Accounts and the Collection Account in lieu of Servicer in accordance with Article II of this Agreement.

  • The Administrative Agent, for the benefit of the Purchasers, is authorized at any time after the occurrence of a Collection Notice Event to date and to deliver to the Collection Banks a Collection Notice under any Collection Agreement.

  • The Agent (on behalf of the Purchasers) may, and at the direction of the Required Financial Institutions shall, at any time following the occurrence of a Collection Notice Event, by notice to CH-23 and the Sellers designate any Person to succeed CH-23 as Servicer or any successor Servicer.

  • Unless and until the Agent gives notice to each bank maintaining a Servicer Account or the Lock-Box Account to the contrary following a Collection Notice Event, the available and collected funds in the Lock-Box Account and Servicer Accounts may continue to sweep into Cardinal’s master account no.

  • The Agent is authorized at any time after the occurrence of a Collection Notice Event to date and to deliver to the Collection Banks the Collection Notices.

  • The Agent (on behalf of the Purchasers) may, and at the direction of the Required Financial Institutions shall, at any time following the occurrence of a Collection Notice Event, by notice to Griffin and Seller designate any Person to succeed Griffin as Servicer or any successor Servicer.

  • In addition, prepayment penalties should expire six months, rather than the proposed 60 days, before the first interest rate change date for adjustable rate mortgages to give borrowers a better chance of refinancing out of their impending unaffordable or burdensome loans.


More Definitions of Collection Notice Event

Collection Notice Event means the delivery of a written notice by any Agent to the Indenture Trustee, the Servicer and each Seller that such Agent, in its sole discretion, is declaring the occurrence of a "Collection Notice Event".
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Collection Notice Event has the meaning specified in each Indenture Supplement.
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Related to Collection Notice Event

  • Collection Notice means a notice, in substantially the form of Annex A to Exhibit VI, from the Agent to a Collection Bank.

  • Notice Event means any of the events enumerated in paragraph (b)(5)(i)(C) of the Rule and listed in Section 4(a) of this Disclosure Agreement.

  • Servicer Termination Notice Defined in Section 6.15.

  • Allocation Notice shall have the meaning assigned to such term in Section 11.14(i) hereof.

  • Acquisition Notice has the meaning set forth in Section 2.6(a).

  • Confirmation Notice means a notice provided by the Issuer to an Investor in accordance with clause 1.3(c) of the Terms;

  • Addition Notice With respect to the transfer of Subsequent Mortgage Loans to the Trust Fund pursuant to Section 2.08, a notice of the Depositor's designation of the Subsequent Mortgage Loans to be sold to the Trust Fund and the aggregate principal balance of such Subsequent Mortgage Loans as of the Subsequent Cut-off Date. The Addition Notice shall be given not later than three Business Days prior to the related Subsequent Transfer Date and shall be substantially in the form attached hereto as Exhibit P.

  • Disposition Notice is defined in Section 5.2(a).

  • Determination Notice is defined in Section 6.1(b)(i) of the Agreement.

  • Transaction Notice means a written request of Seller to enter into a Transaction in a form attached as Exhibit C hereto or such other form as shall be mutually agreed upon between Seller and Purchaser, which is delivered to the Purchaser in accordance with Section 3(c) herein.

  • Auction Notice has the meaning assigned to such term in the definition of “Dutch Auction”.

  • Reduction Notice has the meaning set forth in Section 1.3.

  • Rejection Event means, in respect of the Benchmark, the relevant competent authority or other relevant official body rejects or refuses or will reject or refuse any application for authorisation, registration, recognition, endorsement, equivalence, approval or inclusion in any official register which, in each case, is required in relation to the Securities, the Benchmark or the administrator or sponsor of the Benchmark under any applicable law or regulation for the Issuer or any other entity to perform its obligations in respect of the Securities.

  • Termination Notice means the communication issued in accordance with this Agreement by one Party to the other Party terminating this Agreement;

  • Selection Notice means a notice substantially in the form set out in Part II of Schedule 3 (Requests) given in accordance with Clause 9 (Interest Periods).

  • Redemption Notice Date means, with respect to a Redemption, the date on which the Company sends the Redemption Notice for such Redemption pursuant to Section 4.03(F).

  • Election Notice has the meaning set forth in Section 11.01(b).

  • Non-Extension Notice Date has the meaning specified in Section 2.03(b)(iii).

  • Advance Notice Date means each date the Company delivers to the Investor an Advance Notice requiring the Investor to advance funds to the Company, subject to the terms of this Agreement. No Advance Notice Date shall be less than seven (7) Trading Days after the prior Advance Notice Date.

  • Valuation Notice means the notice given by the Partnership pursuant to Section 8.5(b) or Section 8.6(a) and stating the Initial Value at which a Purchase Right is to be exercised or at which a Repurchase Obligation is to be effected.

  • Early Termination Notice Date Any date as of which the aggregate Stated Principal Balance of the Mortgage Loans (including REO Mortgage Loans) is less than 1.0% of the sum of the aggregate Cut-Off Date Balance of the Mortgage Pool initially included in the Trust Fund.

  • Rejection Notice has the meaning specified in Section 2.05(b)(v).

  • Default Notice means the written notice of Default of the Agreement issued by one Party to the other.

  • Put Notice Date means the Trading Day, as set forth below, immediately following the day on which the Investor receives a Put Notice, however a Put Notice shall be deemed delivered on (a) the Trading Day it is received by facsimile or otherwise by the Investor if such notice is received prior to 9:00 am Eastern Time, or (b) the immediately succeeding Trading Day if it is received by facsimile or otherwise after 9:00 am Eastern Time on a Trading Day. No Put Notice may be deemed delivered on a day that is not a Trading Day.

  • Mandatory Purchase Event means, (i) in connection with the termination of the VRDP Shares Purchase Agreement due to its expiration as of a Scheduled Termination Date, by the fifteenth day prior to any such Scheduled Termination Date, (a) the Liquidity Provider shall not have agreed to an extension or further extension of the Scheduled Termination Date to a date not earlier than 364 days from the Scheduled Termination Date of the VRDP Shares Purchase Agreement then in effect, and (b) the Corporation shall not have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Shares Purchase Agreement with a termination date not earlier than 364 days from the Scheduled Termination Date of the VRDP Shares Purchase Agreement, or (ii) in connection with the termination of the VRDP Shares Purchase Agreement due to a Liquidity Provider Ratings Event or Related Party Termination Event, by the fifteenth day prior to the Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, the Corporation shall not have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Shares Purchase Agreement with a termination date not earlier than 364 days from the Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, of the VRDP Shares Purchase Agreement. The Mandatory Purchase Event shall be deemed to occur on such fifteenth day prior to any Scheduled Termination Date, Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be.

  • Special Termination Notice means the Notice of Special Termination substantially in the form of Annex VII to this Agreement.