Stepup Trigger definition

Stepup Trigger. As to any Distribution Date the existence of any of the following conditions as of the last day of the related Collection Period:
View Source

Examples of Stepup Trigger in a sentence

  • The Issuer shall give prompt written notice to the Trustee of the occurrence of the Step-up Trigger Date.

  • If the Trustee receives written notice from the Issuer of the occurrence of the Step-up Trigger Date pursuant to Section 13.17, the Trustee shall notify Holders of Notes of the occurrence of the Step-up Trigger Date within 60 days after notice is provided to the Trustee by the Issuer.

  • SC-1 Schedule D Overcollateralization Floor Step-up Trigger Percentages...................................

  • Beginning on the Step-up Trigger Date and continuing at all times thereafter, the provisions of Article 13 (other than Section 13.17) shall cease to apply to the Notes and the Notes and the Guarantees shall cease to be Subordinated Indebtedness and thereafter shall rank pari passu in right of payment with all Senior Indebtedness of the Issuer and the Guarantors.

  • The Trustee shall not be deemed to have knowledge or notice of the occurrence of the Step-up Trigger Date unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of such is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture.

  • Beginning on the Step-up Trigger Date and continuing at all times thereafter, the provisions of this Article 13 (other than this Section 13.17) shall cease to apply to the Notes and the Notes and the Guarantees will cease to be Subordinated Indebtedness and thereafter shall rank pari passu in right of payment with all Senior Indebtedness of the Issuer and the Guarantors (the “Step-up”).

  • Following the Step-up Trigger Date, the Guarantee issued by any Guarantor shall be a general unsecured senior obligation of such Guarantor and will rank pari passu in right of payment to all Senior Indebtedness of the relevant Guarantor, including such Guarantor’s guarantee of Senior Indebtedness under any Credit Facilities.

  • Prior to the Step-up Trigger Date, the Guarantee issued by any Guarantor shall be a general unsecured senior subordinated obligation of such Guarantor, and will rank pari passu in right of payment to all Senior Subordinated Indebtedness of the relevant Guarantor.