Drawing Event definition

Drawing Event means an event on any Distribution Date where Party B, after giving effect to the subordination provisions of the Intercreditor Agreement and any Election Interest Payments made by the Policy Provider (but without regard to drawings under a Primary Liquidity Facility or withdrawals from the Cash Collateral Account or Above-Cap Account), shall not have sufficient funds for the payment of accrued interest due and owing on the Class G–2 Certificates other than any amount of interest due and payable on the Class G–2 Certificates on such Distribution Date that remains unpaid due to the failure of the Depositary to pay any amount of accrued interest on the Deposits on such Distribution Date.

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Drawing Event means any of the events set forth in Paragraphs 6(b)(iv) and (v).

Drawing Event means either the Junior Rent Reserve Drawing Event, the Senior Rent Reserve Drawing Event, the Well Maintenance Reserve Drawing Event or the Indemnity Reserve Drawing Event, as applicable, each as defined in the Depositary Agreement.

Examples of Drawing Event in a sentence

Drawing Event shall include the default by the pledging party on its Obligations or by another Group member under its Obligations under an Underlying Master Agreement.
We hereby undertake to honor Your demand hereunder at sight and under the SBLC upon our receipt of a certificate (a “Demand Certificate”) in the form attached hereto as Exhibit A notifying us of the occurrence of a Performance Bond Drawing Event pursuant to the SBLC, appropriately completed and signed by Your duly authorized officer, employee or signatory, if such Demand Certificate is presented as hereinafter specified on or before the Expiration Date (as hereinafter defined).
At the time of Closing, Taconic shall deposit into the Escrow Account the sum of One Million Dollars ($1,000,000) (the "Escrow Funds"'), where such funds shall remain during the Term of this Agreement or there shall be a Drawing Event, whichever shall first Occur.
Upon occurrence of a Drawing Event, the Agent may, and upon the instruction of the Required Lenders shall, draw under the Letters of Credit.
The definition of "Special Drawing Event" is hereby amended by deleting it in its entirety.

More Definitions of Drawing Event

Drawing Event means any deficiency in the Accounts under this Depositary Agreement other than the Loss Proceeds Account, the Special Rent Reserve Account and the Distribution Account.

Drawing Event means an event on any Distribution Date that is not a date on which Final Disposition proceeds are being distributed and where Party B, after giving effect to the subordination provisions of the Intercreditor Agreement and any Election Interest Payments made by the Policy Provider (but without regard to drawings under the Primary Liquidity Facility or withdrawals from the Primary Cash Collateral Account or Above-Cap Account or under the Policy (other than Election Interest Payments)), shall not have sufficient funds for the payment of any amounts due and owing in respect of accrued interest on the Class G Certificates.

Drawing Event means, in respect of each Purchaser, the occurrence and continuance of (a) an Act of Bankruptcy, or (b) the failure of such Purchaser (x) to replace or renew (when required pursuant to Section 7.20) an Acceptable Letter of Credit at least thirty (30) days prior to the expiration of the Acceptable Letter of Credit being replaced or renewed or (y) to replace (when required pursuant to Section 7.20) an Acceptable Letter of Credit within ten (10) days after the earlier of the day on which such Purchaser shall (A) have been given notice by Seller that the long-term, senior unsecured debt obligations of the Issuing Bank shall cease to have a rating of not less than A by S&P or ▇▇▇▇▇'▇ or (B) have Knowledge of such cessation.

Drawing Event has the meaning set forth in Section 3.1.

Drawing Event means (a) there has occurred, and is continuing at the time of reference, a Stabilization Failure with respect to a Covered Eligible Bond, or (b) the Expiration Date has occurred and at such time there remain any Covered Eligible Bonds that are secured by Properties which are not Stabilized Properties.

Drawing Event means the occurrence of any of the following: (i) if Buyer fails to obtain and deliver to the Escrow Agent a Replacement Letter of Credit within the time periods set forth in Paragraph 2(a) above; (ii) the receipt by Escrow Agent of conflicting, inconsistent or unilateral demands by Buyer or Seller regarding the disbursement of the ▇▇▇▇▇▇▇ Money to either Buyer or Seller; (iii) the receipt by Escrow Agent of any notice by Seller that Buyer is in default under this Agreement; or (iv) if at any time the Escrow Agent, in good faith, is in doubt as to the action it should take with respect to the Letter(s) of Credit under this Agreement. Notwithstanding any contrary provision in this Agreement, Seller and Buyer hereby irrevocably authorize and direct the Escrow Agent to immediately and completely draw upon any Letter(s) of Credit held by Escrow Agent upon the occurrence of any Drawing Event, in which event the proceeds of such Letter(s) of Credit shall be added to and become a part of the ▇▇▇▇▇▇▇ Money and disbursed to Buyer or Seller, or otherwise credited towards the Purchase Price, in the manner expressly provided in this Agreement.

Drawing Event means any of the following events: