Examples of Issuer Event of Default in a sentence
Subject as provided in the Trust Deed, the Bond Trustee must serve a Notice to Pay on the Covered Bond Guarantor following the occurrence of an Issuer Event of Default and service of an Issuer Acceleration Notice.
In respect of any Series, the Issuer undertakes to promptly inform the Rating Agencies, the Representative and the Administrator of the occurrence of any Issuer Event of Default.
Upon receipt of a written request to that effect from the Rating Agencies, the Representative or the Administrator, the Issuer shall confirm to the Rating Agencies, the Representative and the Administrator that, save as previously notified to each of them or as notified in such confirmation, no Issuer Event of Default has occurred or is continuing.
If an Asset Coverage Test Breach Notice has been served and is not revoked on or before the first Test Date immediately succeeding service of such Asset Coverage Test Breach Notice, then an Issuer Event of Default shall occur and the Bond Trustee shall be entitled (and in certain circumstances may be required), in each case subject to being indemnified, pre-funded and/or secured to its satisfaction, to serve an Issuer Acceleration Notice on the Issuer.