Restricting Event definition

Restricting Event means the condition that exists on any Payment Date if any one of the following conditions exists: (i) a Delinquency Condition exists or (ii) an Indenture Event of Default has occurred and is then continuing.

Restricting Event. As defined in Section 7.2.

Restricting Event shall be deemed to exist on any Payment Date on which any of the following conditions has occurred and is continuing: (i) a Servicer Default exists hereunder, (ii) the average of the sum of the Discounted Lease Balances of Leases that are more than 90 days delinquent as of the six (6) preceding Determination Dates exceeds two percent (2%) of the average of the Aggregate Discounted Lease Balances as of such six (6) preceding Determination Dates, as reflected on the most recent Monthly Statement, or (iii) two (2) times the sum of the Discounted Lease Balances of Leases that became Defaulted Leases in the six (6) preceding Collection Periods exceeds five percent (5%) of the average of the Aggregate Discounted Lease Balances as of the Determination Dates related to such six (6) preceding Collection Periods, as reflected on the most recent Monthly Statement.

Examples of Restricting Event in a sentence

• No Event of Default or Restricting Event has occurred during the reporting period and none is continuing as at the end of the reporting period.

• The provisions of this Section 2.9 shall apply during the term of this Agreement after the occurrence of a Restricting Event.

• The provisions of this Section 2.8 shall apply during the term of this Agreement after the occurrence of a Payout Event provided that no Restricting Event has occurred.

• After the occurrence of an Event of Default or Restricting Event (as defined in the Sale and Servicing Agreement), no payments of principal of the Class B Notes shall be made until the principal on the Class A-1 Notes, Class A-2 Notes, Class A-3 Notes and Class A-4 Notes has been paid in full.

• The Deal Agent shall not be deemed to have knowledge of any Restricting Event unless the Deal Agent has received notice from the Seller or a Secured Party.

More Definitions of Restricting Event

Restricting Event means the event that shall be deemed to occur on a Payment Date on which (a) an Event of Servicing Termination has occurred under the Servicing Agreement and is not cured within the grace period set forth in the Servicing Agreement, (b) a Gross Charge-Off Event exists, (c) a Delinquency Trigger Event exists or (d) the Note Insurer makes an Insured Payment.

Restricting Event means the occurrence of any of the following events: 5.2.1 A change of control of the Corporation, as defined in 5.3 below; 5.2.2 The death of Employee while his wife is still living if there is no single life insurance coverage on the life of Employee then in force and owned by Policy Owner, as described in Article Ten below; or 5.2.3 The termination of Employee's employment by the Corporation.

Restricting Event is defined in Section 5(h).

Restricting Event means the event that shall occur on a Determination Date on which either (a) a Delinquency Trigger Event exists or (b) a Defaulted Contract Trigger Event exists, in each case, of which a responsible officer of the Indenture Trustee has actual knowledge.

Restricting Event means any of the following events: (a) As of any Calculation Date occurring after the elapsing of six full Collection Periods since the Closing Date, the Average Cumulative Net Loss Ratio exceeds 1.00%; or

Restricting Event shall have the meaning assigned to it in the Pooling Agreement.

Restricting Event means the condition that exists on any Payment ----------------- Date if any one of the following conditions has occurred and is continuing at any time: (i) a Trigger Event exists on such Payment Date or existed on any of the two (2) immediately preceding Payment Dates or (ii) an Indenture Event of Default has occurred and is then continuing.