Examples of Note Event of Default in a sentence
Likewise, any such action could prevent a Note Event of Default which would otherwise have occurred and therefore potentially result in the Notes continuing to be outstanding in circumstances where the Controlling Class may otherwise have had the right to direct the Trustee to accelerate the Notes.
Moreover, a breach of certain of these covenants may not give rise to a Note Event of Default and may not give rise to a claim against the Issuer or the Collateral Manager.
Consequently, it is anticipated that on the Issue Date the Collateral would be insufficient to redeem the Notes in full upon the occurrence of a Note Event of Default on or about that date.
Each prospective investor should consider the risk that a Note Event of Default and other adverse performance will result in a lower yield on the Subordinated Notes than that anticipated by such investor.
Consequently, it is anticipated that on the Issue Date the Portfolio would be insufficient to redeem all of the Notes in full if a Note Event of Default under the Trust Deed occurs.