Common use of Collateral Event Clause in Contracts

Collateral Event. Party A fails to comply with or perform any obligation to be complied with or performed by Party A in accordance with the Credit Support Annex. With respect to the foregoing Additional Termination Event, Party A shall be the sole Affected Party and all Transactions shall be Affected Transactions.

Appears in 2 contracts

Sources: Isda Master Agreement (CarMax Auto Owner Trust 2008-1), Master Agreement (CarMax Auto Owner Trust 2007-3)