Effective Date Requirement definition
Effective Date Requirement means the Collateral Manager (on behalf of the Issuer) having confirmed, by email and written notice to the Rating Agency, with a written copy to the Trustee, the Issuer and the Collateral Administrator, that a full settlement and perfection of the assignment of each of the Collateral Debt Obligations (which has been identified by the Collateral Manager for the Portfolio on the Issue Date) in the Portfolio to the Issuer has occurred (in connection with the transfer of the Collateral Debt Obligations to the Issuer on or just prior to the Issue Date under the Collateral Acquisition Agreements).
Examples of Effective Date Requirement in a sentence
The Company shall be further liable to the same extent for each subsequent 30 day period in which the Filing Date Requirement or the Effective Date Requirement, as the case may be, has not been met, subject to an overall limit of up to 15 months of partial liquidated damages.
The Company shall be further liable to the Investors and the May 29, 2007 Investors to the same extent for each subsequent 30 day period in which the Filing Date Requirement or the Effective Date Requirement, as the case may be, has not been met, subject to an overall limit of up to 15 months of partial liquidated damages.