Additional Early Amortization Events. The occurrence ------------------------------------ of any of the following events shall, immediately upon the occurrence thereof without notice or other action on the part of the Trustee or the Holders of the Certificates, be deemed to be an "Early Amortization Event" solely with respect ------------------------ to the Certificates: (a) on any Distribution Date, the Available Subordinated Amount shall be less than the Required Subordinated Amount (after giving effect to the distributions to be made on such Distribution Date); or (b) on any Distribution Date, the balance of the Reserve Fund is less than the Reserve Fund Required Amount, in each case after giving effect to all deposits and distributions on such Distribution Date; or (c) any Servicer Default occurs; or
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Bombardier Receivables Master Trust I), Pooling and Servicing Agreement (Bombardier Credit Receivables Corp)
Additional Early Amortization Events. The occurrence ------------------------------------ of any of the following events shall, immediately upon the occurrence thereof without notice or other action on the part of the Trustee or the Holders of the Certificates, be deemed to be an "Early Amortization Event" solely with respect ------------------------ to the Certificates:
(a) on any Distribution Date, the Available Subordinated Amount shall be less than the Required Subordinated Amount (after giving effect to the distributions to be made on such Distribution Date); or
(b) on any Distribution Date, the balance of the Reserve Fund is less than the Reserve Fund Required Amount, in each case after giving effect to all deposits and distributions on such Distribution Date; or
(c) any Servicer Default occurs; or
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bombardier Credit Receivables Corp)