Examples of Pay-Out Event in a sentence
As of the date hereof, to the best knowledge of the undersigned, no Pay Out Event occurred on or prior to such Distribution Date.
Pay Out EventsA Pay Out Event under the pooling agreement will cause the early redemption of the notes.
No amendment, however, may be effective unless:• written confirmation has been received by the master trust trustee from each rating agency that the amendment will not result in the reduction, qualification or withdrawal of the respective ratings of each rating agency for any securities issued by the master trust; and• the applicable bank shall certify to the transferor that such bank reasonably believes that the amendment will not cause a Pay Out Event.
Rapid Amortization Period A Pay Out Event occurs, either automatically or after specified notice, if one of the adverse events described in "Description of Series Provisions--Pay Out Events" in this prospectus supplement occurs.
Unless a Pay Out Event has occurred, amounts in the principal funding account will be paid: .