Mandatory Decrease Date means, with respect to any CP Conduit Purchaser with respect to which a CP Disruption Event is continuing, any day occurring at least 330 days and no more than 390 days after the initial occurrence of such CP Disruption Event upon which (i) the Commercial Paper with respect to such CP Conduit Purchaser is scheduled by its terms to mature and (ii) after giving effect to all payments to such CP Conduit Purchaser on or prior to such day pursuant to the Asset Purchase Agreement with respect to such CP Conduit Purchaser, the aggregate amount paid thereunder to such CP Conduit Purchaser will be equal to the Liquidity Amount with respect to the Purchaser Group of which such CP Conduit Purchaser is a member.
Examples of Mandatory Decrease Date in a sentence
Three (3) Business Days prior to any Mandatory Decrease Date with respect to a CP Conduit Purchaser, CRCF or the Administrator on behalf of CRCF, shall submit a written request to the Trustee for a principal payment to be made with respect to the Series 2006-2 Note registered in the name of the Funding Agent with respect to such CP Conduit Purchaser, to be made in accordance with Section 2.5(a)(ii), in an amount at least equal to the Mandatory Decrease Amount for such Mandatory Decrease Date.
Each Mandatory Decrease Amount will be due and payable by CRCF on the Mandatory Decrease Date and any failure to pay such amount shall constitute a failure to make a principal payment on the related Series 2006-2 Note.