Purchase and Sale Termination Event definition

Purchase and Sale Termination Event has the meaning set forth in Section 8.1 of the Sale Agreement.

Purchase and Sale Termination Event has the meaning set forth in the Purchase and Sale Agreement.

Purchase and Sale Termination Event. (a) The Facility Termination Date (as defined in the Receivables Purchase Agreement) shall have occurred; or

Examples of Purchase and Sale Termination Event in a sentence

• The occurrence of a Purchase and Sale Termination Event under the Purchase and Sale Agreement.

• No event has occurred and is continuing, or would result from the transactions contemplated hereby, that constitutes a Purchase and Sale Termination Event, an Unmatured Purchase and Sale Termination Event, a Termination Event or an Unmatured Termination Event.

• Both before and immediately after giving effect to this Amendment and the transactions contemplated hereby, no Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event exists or shall exist.

• The occurrence of a Purchase and Sale Termination Event or an Unmatured Purchase and Sale Termination Event.

• Upon the occurrence and during the continuation of a Purchase and Sale Termination Event, the Buyer (and not the Servicer), with the prior written consent of the Administrative Agent shall have the option, by notice to the Originators (with a copy to the Administrative Agent and the Lenders), to declare the Purchase Facility terminated.

More Definitions of Purchase and Sale Termination Event

Purchase and Sale Termination Event means the occurrence of any of the following events or occurrences:

Purchase and Sale Termination Event. (a) A Termination Event (as defined in the Receivables Purchase Agreement) shall have occurred and, in the case of a Termination Event (other than one described in paragraph (f) of Exhibit V of the Receivables Purchase Agreement), the Administrator, shall have declared the Facility Termination Date to have occurred; or

Purchase and Sale Termination Event means with respect to an Originator, the occurrence of any Termination Event (as such term is defined in the Receivables Purchase Agreement) under clause (g) of the definition thereof, related to such Originator.

Purchase and Sale Termination Event has the meaning set forth in the Purchase and Sale Agreement. “Ratings Event” shall be deemed to have occurred on any day when the Parent does not have at least one of: (i) a rating of “B” or better by S&P on the Parent’s long-term senior unsecured and uncredit-enhanced debt securities or (ii) a rating of “B2” or better by Moody’s on the Parent’s long-term senior unsecured and uncredit-enhanced debt securities.

Purchase and Sale Termination Event with respect to an Originator:

Purchase and Sale Termination Event with respect to a Transferor:

Purchase and Sale Termination Event has the meaning set forth in Exhibit IV to the Purchase and Sale Agreement.