Optional Reduction Date definition

Optional Reduction Date means the date on which an Optional Reduction Amount is paid.
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Optional Reduction Date is defined in Section 2.13.
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Optional Reduction Date means the date 5 Business Days after the delivery of a Reduction Notice made in accordance with Section 2.02(d) of the Receivables Purchase Agreement.
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Examples of Optional Reduction Date in a sentence

  • If the Seller has delivered an Optional Reduction Notice, then on the requested Optional Reduction Date, the Servicer shall apply Collections that would have been used for Reinvestment Purchases to pay the Facility Agents (for the benefit of their respective Purchasers) their ratable shares of the reduction amount, together with any applicable Break Funding Costs (unless such Optional Reduction Date is also a Settlement Date).

  • To reduce the Funding Amount, Party B shall provide an irrevocable written notice (the “Optional Reduction Notice”) to Party A 10 Business Days prior to the relevant Optional Reduction Date, specifying the relevant Optional Reduction Date and the amount to be reduced in US dollars (the “Reduction Amount”).

  • If the Seller has delivered such notice, then on the requested Optional Reduction Date, the Servicer shall apply Collections that would have been used for Reinvestment Purchases to pay the Facility Agents (for the benefit of their respective Purchasers) their ratable shares of the reduction amount, together with any applicable Break Funding Costs.


More Definitions of Optional Reduction Date

Optional Reduction Date means the date on which an Optional Reduction Amount is paid. “Optional Reduction Notice” shall have the meaning specified in Section 2.15(b) hereof. “Original Closing Date” shall mean July 31, 2013. “Originator” shall mean each of ▇▇▇▇▇▇▇▇ and each other Subsidiary of ▇▇▇▇▇▇▇▇ identified as such from time to time on the signature pages or an addendum hereto and which has not been removed as an Originator under Section 3.03 of the Purchase and Contribution Agreement; provided that each Subsidiary of ▇▇▇▇▇▇▇▇ which is not a party to this Agreement on May 19, 2021 shall become an Originator hereunder only upon satisfaction of the conditions precedent contained in Section 3.04 hereof.
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