Sequential Payment Date definition

Sequential Payment Date means any Payment Date (a) following the occurrence of a Servicer Default, an Event of Default, a Downgrade Event, the existence of any Class D Accrued Payable, the Sequential Pool Condition or a Ratings Confirmation Failure, (b) on which the Interest Distributable Test is not satisfied or (c) on which the CCC Excess Condition is not satisfied; provided that in the case of a Sequential Payment Date arising due to a Ratings Confirmation Failure, only the first Payment Date following such Ratings Confirmation Failure and each subsequent Payment Date prior to the earlier of (i) the date on which the Effective Date Ratings Confirmation is delivered and (ii) the date on which the Outstanding Principal Balance of each Class of Offered Notes has been reduced to zero shall be a Sequential Payment Date.
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Related to Sequential Payment Date

  • Initial Payment Date has the meaning specified in Section 3 of this Supplement.

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Principal Payment Dates means unless otherwise determined by the Fiscal Officer in the Certificate of Award, December 1 in the years from and including 2020 to and including 2035, provided that in no case shall the latest Principal Payment Date be later than the maximum maturity of the Bonds referred to in the preambles hereto.

  • Party B Payment Dates Each Quarterly Interest Payment Date from and including the Quarterly Interest Payment Date falling in December 2004 up to the Termination Date, and the Termination Date.

  • Final Payment Date means the "Final Payment Date" as specified in § 1 of the Product and Underlying Data.