Examples of Series Pay Out Event in a sentence
If the APC Receivables Portfolio calculated on two consecutive Interest Payment Dates does not satisfy the APC Collateral Test, then a Series Pay Out Event will occur with respect to the Series 2009-1 APC Loan Notes (see further "The APC Loan Note Issue Deed – Schedule Redemption of the Series 2009-1 APC Loan Notes – Series Pay Out Events").
The Transferor shall immediately give notice to the Receivables Trustee of the occurrence of any Trust Pay Out Event or Series Pay Out Event, specifying where applicable that such event is also an Insolvency Event.
A "Pay Out Event" may be a Trust Pay Out Event or a Trust Series Pay Out Event.
Each Trust Series, including the De-Linked Trust Series, will have certain Pay Out Events that relate only to such Trust Series (such a Pay Out Event being for a Trust Series a "Trust Series Pay Out Event").