Turbo Event definition

Turbo Event has the meaning set forth in Section 4.01(c) hereof.
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Turbo Event. The occurrence of an event described in Sections 10.1(a), 10.1(b), 10.1(c), 10.1(d), 10.1(k) (if such event arose under clause (a) of the definition of Material Adverse Effect), 10.1(u) or 10.1(x).
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Turbo Event means any of the following events or circumstances:
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Examples of Turbo Event in a sentence

  • In addition, no later than two Business Days following the Servicer’s knowledge or notice of the occurrence of any Turbo Event, Termination Event or Unmatured Termination Event, the Servicer will provide to the Administrative Agent a written statement of the chief financial officer or chief accounting officer of the Servicer setting forth the details of such event and the action that the Servicer proposes to take with respect thereto.

  • The Seller will provide the Administrative Agent with immediate written notice of the occurrence of each Turbo Event, Termination Event and each Unmatured Termination Event of which the Seller has knowledge or has received notice.

  • The Servicer will provide the Administrative Agent with immediate written notice of the occurrence of each Turbo Event, Termination Event and each Unmatured Termination Event of which the Servicer has knowledge or has received notice.

  • In addition, no later than two Business Days following the Seller’s knowledge or notice of the occurrence of any Turbo Event, Termination Event or Unmatured Termination Event, the Seller will provide to the Administrative Agent a written statement of the chief financial officer or chief accounting officer of Seller setting forth the details of such event and the action that the Seller proposes to take with respect thereto.

  • Commission, expenses and any taxes payable on transactions entered into on behalf of the Mutual Fund, are not related to the management fee but are payable by the Mutual Fund under the terms of the business relationship between the undertakings performing the tasks and the Mutual Fund.

  • On and after the occurrence of a Turbo Event of the type described in clause (b) or (c) of the definition thereof or of an Event of Default or Servicer Default, the initial Servicer shall be required to bear the expense of all such reviews.

  • The earliest of (a) the Advance Termination Date, (b) the occurrence of a Turbo Event, an Event of Default or a Servicer Default, or (c) an Optional Revolving Period Termination Date.

  • Promptly after receiving written notice of an event or circumstance that is likely to result in a Commitment Termination Event, a Servicer Termination Event, a Turbo Event or a Termination Event or have a Material Adverse Effect on it, the Collateral, the Lenders or the Certificateholders, notice of such event or circumstance.

  • The amount deposited into the Collection Account (including any amounts that were offset against Outstanding Monthly Advances) as a result of a Turbo Event pursuant to Section 5.7(b) of the Note Purchase Agreement shall be deemed to be Recognized Losses.

  • The earliest of (a) the Advance Termination Date or (b) the occurrence of a Turbo Event, an Event of Default or a Servicer Default.


More Definitions of Turbo Event

Turbo Event. The occurrence of any of the following shall be a Turbo Event:
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Turbo Event. The occurrence of any of the following: (i) as of any Settlement Date, the aggregate Principal Balance of all Eligible Receivables is less than [***]% of the aggregate Principal Balance of all Eligible Receivables as of the last day of the Commitment Period, (ii) applicable segmented Cumulative Net Losses exceed [***]% of the related Baseline Cumulative Net Loss, (iii) the failure of the Borrower and the Lenders to mutually agree to changes in the Advance Rate, the Advance Rate (Part AF) or the Advance Rate (Part S) within [***] days after the applicable segmented three month rolling Vintage Cumulative Net Loss with respect to the related Receivables acquired by the Borrower in each monthly period exceeds [***]% of the related Baseline Cumulative Net Loss, (iv) as of the last calendar day of any month, as reported on the applicable Settlement Report, or the last day of any calendar week, as reported on the applicable Funding Report, the Outstanding Loan Amount exceeds the Borrowing Base (including with reference to the Outstanding Loan Amount (Part AF) exceeding the portion of the Borrowing Base related to funding of Eligible Receivable (Part AF) or to the Outstanding Loan Amount (Part S) exceeding the portion of the [***] Redacted for confidentiality purposes Borrowing Base related to funding of Eligible Receivable (Part S)) and such shortfall remains outstanding for a period of two Business Days after the date of such report, (v) a Termination Event (other than as a result of clause (v) of the definition of Commitment Termination Date), (vi) the occurrence of a termination event (other than as a result of the exercise of an optional walk-a-away right), event of default, or servicer default under (A) the Flow Purchase Agreement or the Other Facility Transaction Documents, or (B) any other credit or purchase facility by the Lenders or any of their Affiliates to Carvana, the Borrower or any of their consolidated Affiliates that enables or permits the holder or holders of such indebtedness or any trustee or agent on its or their behalf to cause such indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity, or (vii) any indebtedness of Carvana or the Borrower or any of their consolidated Affiliates which exceeds [***] in aggregate principal or face amount becoming due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity.
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Turbo Event. The occurrence of the election of WFEFI in accordance with Section 5.7(b) of the Note Purchase Agreement.
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Related to Turbo Event

  • ii) Event means any event described in Section 11(a)(ii) hereof.

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Term SOFR Transition Event means the determination by the Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance with Section 2.14 that is not Term SOFR.

  • Triggering Event means any Section 11(a)(ii) Event or any Section 13 Event.

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • Exclusion Event means an event or related events resulting in the exclusion of the Borrower or any Subsidiary from participation in any Medical Reimbursement Programs.

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • FX Disruption Event ' means the occurrence of any event on any day or any number of consecutive days as determined by the Calculation Agent in its sole and reasonable discretion that affects the Issuer’s currency hedging (if any) with respect to the Products.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Notification Event means (a) the occurrence of a “reportable event” described in Section 4043 of ERISA for which the 30-day notice requirement has not been waived by applicable regulations issued by the PBGC, (b) the withdrawal of any Loan Party or ERISA Affiliate from a Pension Plan during a plan year in which it was a “substantial employer” as defined in Section 4001(a)(2) of ERISA, (c) the termination of a Pension Plan, the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan amendment as a termination, under Section 4041 of ERISA, if the plan assets are not sufficient to pay all plan liabilities, (d) the institution of proceedings to terminate, or the appointment of a trustee with respect to, any Pension Plan by the PBGC or any Pension Plan or Multiemployer Plan administrator, (e) any other event or condition that would constitute grounds under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan, (f) the imposition of a Lien pursuant to the IRC or ERISA in connection with any Employee Benefit Plan or the existence of any facts or circumstances that could reasonably be expected to result in the imposition of a Lien, (g) the partial or complete withdrawal of any Loan Party or ERISA Affiliate from a Multiemployer Plan (other than any withdrawal that would not constitute an Event of Default under Section 8.12), (h) any event or condition that results in the reorganization or insolvency of a Multiemployer Plan under Sections of ERISA, (i) any event or condition that results in the termination of a Multiemployer Plan under Section 4041A of ERISA or the institution by the PBGC of proceedings to terminate or to appoint a trustee to administer a Multiemployer Plan under ERISA, (j) any Pension Plan being in “at risk status” within the meaning of IRC Section 430(i), (k) any Multiemployer Plan being in “endangered status” or “critical status” within the meaning of IRC Section 432(b) or the determination that any Multiemployer Plan is or is expected to be insolvent or in reorganization within the meaning of Title IV of ERISA, (l) with respect to any Pension Plan, any Loan Party or ERISA Affiliate incurring a substantial cessation of operations within the meaning of ERISA Section 4062(e), (m) an “accumulated funding deficiency” within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) or the failure of any Pension Plan or Multiemployer Plan to meet the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA), in each case, whether or not waived, (n) the filing of an application for a waiver of the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) with respect to any Pension Plan or Multiemployer Plan, (o) the failure to make by its due date a required payment or contribution with respect to any Pension Plan or Multiemployer Plan, (p) any event that results in or could reasonably be expected to result in a liability by a Loan Party pursuant to Title I of ERISA or the excise tax provisions of the IRC relating to Employee Benefit Plans or any event that results in or could reasonably be expected to result in a liability to any Loan Party or ERISA Affiliate pursuant to Title IV of ERISA or Section 401(a)(29) of the IRC, or (q) any of the foregoing is reasonably likely to occur in the following 30 days.

  • Company Triggering Event means: (i) the failure of the Board of Directors of the Company to recommend that the Company's stockholders vote to adopt this Agreement, or the withdrawal or modification of the Company Board Recommendation in a manner adverse to Parent, or the Board of Directors shall have taken any other action that is or becomes disclosed publicly or to a third party, which indicates that the Board of Directors of the Company does not support the Merger or does not believe that the Merger is in the best interests of the Company's stockholders; (ii) the Company shall have failed to include in the Proxy Statement the Company Board Recommendation or a statement to the effect that the Board of Directors of the Company has determined and believes that the Merger is in the best interests of the Company's stockholders; (iii) an Acquisition Proposal is publicly announced and the Board of Directors of the Company fails to reaffirm without qualification the Company Board Recommendation, or fails to publicly state without qualification, that the Merger is in the best interests of the Company's stockholders, within five business days after Parent requests in writing that such action be taken; (iv) the Board of Directors of the Company shall have approved, endorsed or recommended any Acquisition Proposal; (v) the Company shall have failed to comply with Section 5.04 in any material respect; (vi) a tender or exchange offer relating to securities of the Company shall have been commenced and the Company shall not have sent to its securityholders, within ten business days after the commencement of such tender or exchange offer, a statement disclosing that the Board of Directors recommends rejection of such tender or exchange offer; (vii) an Acquisition Proposal is publicly announced, and the Company fails to issue a press release announcing its opposition to such Acquisition Proposal within ten business days after such Acquisition Proposal is announced; or (viii) either the Company or any of its subsidiaries or any their Representatives shall have breached any of the provisions set forth in Section 5.04 (in any material respect) or Section 6.15.

  • Default under Specified Transaction provisions of Section 5(a)(v) will not apply to Party A and will not apply to Party B.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Notice Event means any of the events enumerated in paragraph (b)(5)(i)(C) of the Rule and listed in Section 4(a) of this Disclosure Agreement.

  • Application Event means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(iii) of this Agreement.

  • Put Event means the occurrence of any of the following:

  • Conversion Event means the cessation of use of (i) a Foreign Currency both by the government of the country or the confederation which issued such Foreign Currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community or (ii) any currency unit or composite currency for the purposes for which it was established.

  • Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark:

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

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • Substitution Event means, in respect of a Share, any Nationalization, Insolvency or Delisting in respect of such Share, or any Merger Event or Tender Offer in respect of such Share that is deemed by the Calculation Agent to be a Substitution Event, or an occurrence and continuation for at least eight consecutive applicable Exchange Business Days of a Market Disruption Event in respect of such Share.

  • Delay Event means any event set out at Clause 5.19.4 [Delay Events].