Pay Out Commencement Date definition
Examples of Pay Out Commencement Date in a sentence
The Defeasance Reserve Account shall be terminated following the earliest to occur of (a) the termination of the Trust pursuant to the Agreement, (b) the date on which the ABC Invested Amount is paid in full, (c) prior to Defeasance, the Pay Out Commencement Date and (d) after Defeasance, the earlier of the first Transfer Date with respect to the Early Amortization Period and the CTO Expected Final Payment Date.
In addition, pursuant to Section 6.15 of the Agreement, the holders of this Certificate may from time to time be required, prior to the Pay Out Commencement Date, to purchase Additional Class A Invested Amounts on the terms and conditions specified therein.
If the Pay Out Commencement Date occurs during the Funding Period, the remaining Pre-Funded Amount will be applied to make principal payments with respect to the Certificates in accordance with subsection 4.9(c) of the Agreement.
If the Pay Out Commencement Date occurs during the Funding Period, the remaining Pre-Funded Amount will be applied in accordance with subsection 4.9(c) of the Agreement to make principal payments with respect to the Class A Securities.
If the Pay Out Commencement Date occurs during the Funding Period, the remaining Pre-Funded Amount will be applied to make principal payments with respect to the Certificates in accordance with subsec- tion 4.9(c) of the Agreement.