Partial Expiration Event definition
Partial Expiration Event has the meaning specified in subsection 2.2(c) of this Agreement.
Partial Expiration Event means the occurrence of the election of one or more Non-Extending Lenders after the Commitment Termination Date to not extend its Commitment, unless such Non-Extending Lender is replaced pursuant to Section 2.04(b) or unless the Termination Date shall have occurred.
Partial Expiration Event means the occurrence of the election of one or more Non-Extending Lenders after its respective Commitment Termination Date to not extend its Commitment, unless such Non-Extending Lender is replaced pursuant to Section 2.04(b) or unless the Termination Date shall have occurred.
Examples of Partial Expiration Event in a sentence
The Issuer hereby requests an extension of the Commitment Termination Date under each Note Purchase Agreement for three years and agrees that if all Class A Purchasers, Class B Purchasers or Class C Purchasers, as the case may be, do not consent to such extension, then a Partial Expiration Event shall be deemed to have occurred with respect to all Class A Purchasers, Class B Purchasers or Class C Purchasers, as the case may be, under the related Note Purchase Agreement on the Commitment Termination Date.
For the avoidance of doubt, if a Partial Expiration Event has occurred with respect to a Tranched Lender Group but no Termination Event has occurred, principal amounts due pursuant to Section 2.08(viii) shall be applied to the Class A Notes and Class B Notes held by the related Lender Group Agent on behalf of such Tranched Lender Group in such amounts that the Designated Note Ratio is maintained following such payments and applications.
More Definitions of Partial Expiration Event
Partial Expiration Event has the meaning specified in Section 2.09(b).
Partial Expiration Event shall have the meaning specified in a ------------------------ Certificate Purchase Agreement.
Partial Expiration Event means the occurrence of the election of one or more Non-Extending Lenders after its respective Commitment Termination Date to not extend its Commitment, unless such Non-Extending Lender is replaced pursuant to Section 2.04(b) or unless the Termination Date shall have occurred. "Partial Expiration Event Amount" means the portion of Loans Outstanding payable pursuant to Section 2.06(vii) in connection with a Partial Expiration Event. "Participant Register" has the meaning given to such term in Section 11.01(e). "Patriot Act" means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)). "Payment" has the meaning assigned to it in Section 10.09. "Payment Date" means (i) prior to June 2021 the 15th day of each calendar month or, if any such day is not a Business Day, the next succeeding Business Day, commencing September 15, 2020 and (ii) thereafter, the 20th day of each calendar month, or if any such day is not a Business Day, the next succeeding Business Day, commencing June 21, 2021. or (ii) with respect to any calendar month in which the Borrower has provided the Administrative Agent, each Agent, the Servicer and the Backup Servicer at least ten Business Days' prior written notice of its intent to effect the related Take-out during such calendar month pursuant to Section 2.12(a) hereof, the related Take-out Date for such Take-out if agreed to in writing by the Borrower, the Administrative Agent, each Agent and the Servicer. "Payment Notice" has the meaning assigned to it in Section 10.09. "Payment-to-Income Ratio" means, with respect to any Receivable as of the date of underwriting, the ratio (expressed as a percentage) of (i) the monthly payment owed by the related Obligor pursuant to the related Contract to (ii) the sum of all of the related obligor's and any related co-obligor's (but no related guarantor's) monthly gross income for the calendar month immediately preceding the date such Receivable was originated, as determined by DFC in accordance with the Credit and Collection Policy in effect at such time. "Pension Plan" means an "employee pension benefit plan," as such term is defined in Section 3(2) of ERISA, maintained by the Borrower, DFC, Lithia, or any ERISA Affiliate, or in which employees of the Borrower are entitled to participate, as from time to time in effect. "Performance Guarantor" means Lithia. "Performance Guaranty" means the Amended and Restated Performance Guaranty, dated as of December 31, 2020, by the Pe...
Partial Expiration Event means the occurrence of the election of one or more Non-Extending Lenders after its respective Commitment Termination Date to not extend its Commitment, unless such Non-Extending Lender is replaced pursuant to Section 2.04(b) or unless the Termination Date shall have occurred. "Partial Expiration Event Amount" means the portion of Loans Outstanding payable pursuant to Section 2.06(vii) in connection with a Partial Expiration Event. "Participant Register" has the meaning given to such term in Section 11.01(e). "Patriot Act" means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)). "Payment" has the meaning assigned to it in Section 10.09. "Payment Date" means (i) the 20thwith respect to August 2024, August 20, 2024 and with respect to any calendar month thereafter, the 18th day of each calendar month, or if any such day is not a Business Day, the next succeeding Business Day, commencing June 21, 2021 or (ii) with respect to any calendar month in which the Borrower has provided the Administrative Agent, each Agent, the Servicer and the Backup Servicer at least ten Business Days' prior written notice of its intent to effect the related Take-out during such calendar month pursuant to Section 2.12(a) hereof, the related Take-out Date for such Take-out if agreed to in writing by the Borrower, the Administrative Agent, each Agent and the Servicer. "Payment Notice" has the meaning assigned to it in Section 10.09. "Payment-to-Income Ratio" means, with respect to any Receivable as of the date of underwriting, the ratio (expressed as a percentage) of (i) the monthly payment owed by the related Obligor pursuant to the related Contract to (ii) the sum of all of the related obligor's and any related co-obligor's (but no related guarantor's) monthly gross income for the calendar month 34
Partial Expiration Event means the occurrence of the election of one or more Non-Extending Lenders after its respective Commitment Termination Date to not extend its Commitment, unless such Non-Extending Lender is replaced pursuant to Section 2.04(b) or unless the Termination Date shall have occurred. "Partial Expiration Event Amount" means the portion of Loans Outstanding payable pursuant to Section 2.06(vi) in connection with a Partial Expiration Event. "Participant Register" has the meaning given to such term in Section 11.01(e). "Patriot Act" means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)). "Payment" has the meaning assigned to it in Section 10.09. "Payment Date" means (i) the 20th day of each calendar month, (or if any such day is not a Business Day, the next succeeding Business Day), commencing December 20, 2022. or (ii) with respect to any calendar month in which the Borrower has provided the Administrative Agent, each Agent, the Servicer and the Backup Servicer at least ten Business Days' prior written notice of its intent to effect the related Take-out during such calendar month pursuant to Section 2.12(a) hereof, the related Take-out Date for such Take-out if agreed to in writing by the Borrower, the Administrative Agent, each Agent and the Servicer. "Payment Notice" has the meaning assigned to it in Section 10.09. "Payment-to-Income Ratio" means, with respect to any Receivable as of the date of underwriting, the ratio (expressed as a percentage) of (i) the monthly payment owed by the related Obligor pursuant to the related Contract to (ii) the sum of all of the related obligor's and any related co-obligor's (but no related guarantor's) monthly gross income for the calendar month
Partial Expiration Event means the occurrence of a Lender Group’s Commitment Termination Date after the Lender Group Agent of such Lender Group has declined to extend such Commitment Termination Date, unless such Non-Extending Lenders are replaced pursuant to Section 2.04(b) or unless the Amortization Date shall have occurred.
Partial Expiration Event means the occurrence of the election of one or more Non-Extending Lenders after its respective Commitment Termination Date to not extend its Commitment, unless such Non-Extending Lender is replaced pursuant to Section 2.04(b) or unless the Termination Date shall have occurred. "Partial Expiration Event Amount" means the portion of Loans Outstanding payable pursuant to Section 2.06(vi) in connection with a Partial Expiration Event. "Participant Register" has the meaning given to such term in Section 11.01(e). "Patriot Act" means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)). "Payment" has the meaning assigned to it in Section 10.09. "Payment Date" means the 20th day of each calendar month, or if any such day is not a Business Day, the next succeeding Business Day, commencing December 20, 2022. "Payment Notice" has the meaning assigned to it in Section 10.09. "Payment-to-Income Ratio" means, with respect to any Receivable as of the date of underwriting, the ratio (expressed as a percentage) of (i) the monthly payment owed by the related Obligor pursuant to the related Contract to (ii) the sum of all of the related obligor's and any related co-obligor's (but no related guarantor's) monthly gross income for the calendar month immediately preceding the date such Receivable was originated, as determined by DFC in accordance with the Credit and Collection Policy in effect at such time. "Pension Plan" means an "employee pension benefit plan," as such term is defined in Section 3(2) of ERISA, maintained by the Borrower, DFC, Lithia, or any ERISA Affiliate, or in which employees of the Borrower are entitled to participate, as from time to time in effect. "Performance Guarantor" means Lithia.