Common use of Early Amortization Event Clause in Contracts

Early Amortization Event. As of any date of determination, the existence of any one of the following events or conditions: (1) A Manager Default shall have occurred and then be continuing; (2) The Manager Report delivered for any Payment Date indicates that an Asset Base Deficiency exists; (3) The Manager Report delivered for any Payment Date indicates that the EBIT Ratio of the Issuer shall be less than 1.10:1.00; (4) The Manager Report delivered for any Payment Date indicates that the Weighted Average Age of the Eligible Container is greater than nine (9) years; (A) A breach of any financial covenant of CAL set forth in the documents governing any Indebtedness of CAI and/or its Subsidiaries (the “Funded Debt Documents”) in excess of $20,000,000 shall have occurred for such period of time as would permit (assuming the giving of appropriate notice if required) the holder or holders thereof or of any obligations issued thereunder to accelerate the maturity of all or part of such Indebtedness, or any such holder or holders shall rescind or shall have a right to rescind the purchase of any such obligations, or (B) any default, not described in clause (A), under any Funded Debt Document shall have occurred and as a result the required lenders under the affected financing transaction have accelerated all or part of such Indebtedness; or (6) An event or condition designated as an Early Amortization Event in any Supplement shall have occurred and then be continuing. If the Early Amortization Event described in clause (2) above has occurred, such Early Amortization Event shall be deemed no longer continuing if the Asset Base Deficiency is cured within thirty (30) days after the Payment Date on which such Asset Base Deficiency initially occurred; provided, that, no more than one cure of such event can occur during any two year period. If the Early Amortization Event described in clause (6) above has occurred, such Early Amortization Event shall be deemed no longer continuing immediately upon the waiver and/or cure of such Early Amortization Event in accordance with the terms of the applicable Supplement. Except as set forth in the immediately preceding paragraph, an Early Amortization Event shall be deemed to continue until the Business Day on which the Requisite Global Majority waives, in writing, such Early Amortization Event. The Indenture Trustee shall promptly provide notice of any such waiver to each Rating Agency.

Early Amortization Event. As of any date of determination, the The existence of any one of the following events or conditionsconditions shall constitute an Early Amortization Event: (1) A Manager An Event of Default shall have occurred and then be continuing; (2) The Manager Report delivered Aggregate Principal Balance exceeds the Aggregate Asset Base, and such condition is not remedied for any Payment Date indicates that an Asset Base Deficiency existsa period of ten (10) consecutive days; (3) The A Manager Report delivered for any Payment Date indicates that the EBIT Ratio of the Issuer shall be less than 1.10:1.00; (4) The Manager Report delivered for any Payment Date indicates that the Weighted Average Age of the Eligible Container is greater than nine (9) years; (A) A breach of any financial covenant of CAL set forth in the documents governing any Indebtedness of CAI and/or its Subsidiaries (the “Funded Debt Documents”) in excess of $20,000,000 shall have occurred for such period of time as would permit (assuming the giving of appropriate notice if required) the holder Default or holders thereof or of any obligations issued thereunder to accelerate the maturity of all or part of such Indebtedness, or any such holder or holders shall rescind or shall have a right to rescind the purchase of any such obligations, or (B) any default, not described in clause (A), default under any Funded Debt other Transaction Document shall have occurred and as a result the required lenders under the affected financing transaction have accelerated all or part of such Indebtedness; or (6) An event or condition designated as an Early Amortization Event in any Supplement shall have occurred and then be continuing; (4) The EBIT Ratio of the Borrower determined as of any Collection Period Date shall be less than 1.10 to 1.0; (5) The Weighted Average Age of all Eligible Containers as of any Collection Period Date is six (6) years or more; (6) The Borrower is required to register as an investment company under the Investment Company Act of 1940, as amended; or (7) Satisfactory Institutional Persons shall (i) fail to own in aggregate less than thirty-five percent (35%) of all of the issued and outstanding voting shares of the Borrower or (ii) reduce the amount of their respective equity investment in the Borrower after the Restatement Date. If the an Early Amortization Event described in clause (2) above has occurredexists, then such Early Amortization Event shall be deemed no longer continuing if the Asset Base Deficiency is cured within thirty (30) days after the Payment Date on which such Asset Base Deficiency initially occurred; provided, that, no more than one cure of such event can occur during any two year period. If the Early Amortization Event described in clause (6) above has occurred, such Early Amortization Event shall be deemed no longer continuing immediately upon the waiver and/or cure of such Early Amortization Event in accordance with the terms of the applicable Supplement. Except as set forth in the immediately preceding paragraph, an Early Amortization Event shall be deemed to continue until the earlier of (x) the Business Day immediately preceding the Payment Date on which no Early Amortization Event exists and (y) the Business Day on which the Requisite Global Majority waives, Lenders waives in writing, writing such Early Amortization Event. The Indenture Trustee Upon the occurrence of an Early Amortization Event, the Agent and each Lender shall, in addition to the rights provided in the Transaction Documents, have all rights and remedies provided under Applicable Law with respect to the occurrence of such event or condition. Upon the occurrence of an Early Amortization Event, the Agent shall promptly provide notice have the right to conduct an annual audit of any such waiver to each Rating Agencythe Borrower at Borrower’s expense.

Early Amortization Event. As With respect to the Series 2002-1 Notes, as of any date of determination, the existence of any one of the following events or conditionsconditions shall constitute an Early Amortization Event: (1i) An “event of default” under any Related Document (including an Event of Default) shall have occurred and then be continuing; (ii) A Manager Servicer Default shall have occurred and then be continuing; (2iii) The Manager Report delivered Aggregate Note Principal Balance of any Series exceeds the Asset Base for such Series on any Payment Date indicates that an Asset Base Deficiency exists(after giving effect to any payments of principal on such Payment Date) and such excess continues for a period of 10 consecutive days without being cured; (3iv) The Manager Report delivered for any Payment Date indicates that the EBIT Ratio of the Issuer shall be less than 1.10:1.00the Target EBIT Ratio; (4v) Prior to the date on which the Term Securitization is consummated, the Asset Base shall be less than or equal to $60,000,000, or, as of the close of business on the date on which the Term Securitization is consummated, either the Asset Base or the total Outstanding Obligations for Series 2002-1 shall be greater than $0; (vi) The Manager Report delivered occurrence of any other Early Amortization Event as specified in the Indenture; (vii) Outstanding Obligations exceed 90% of the aggregate Appraised Values of each Eligible Engine and such excess continues for a period of 10 consecutive days without being cured; (viii) The Quarterly Utilization Rate is less than 75%. (ix) The failure to pay in full on any Payment Date indicates that (a) interest accrued on the Weighted Average Age of the Eligible Container is greater than nine Notes, (9) years; (A) A breach of any financial covenant of CAL set forth in the documents governing any Indebtedness of CAI and/or its Subsidiaries (the “Funded Debt Documents”) in excess of $20,000,000 shall have occurred for such period of time as would permit (assuming the giving of appropriate notice if requiredb) the holder or holders thereof or of any obligations issued thereunder to accelerate Class A Minimum Principal Payment Amount and the maturity of all or part of such IndebtednessClass B Minimum Principal Payment Amount and, or any such holder or holders shall rescind or shall have a right to rescind the purchase of any such obligations, or (Bc) any default, not described in clause (A), under any Funded Debt Document shall have occurred and as a result the required lenders under the affected financing transaction have accelerated all or part of such Indebtedness; or (6) An event or condition designated as an Early Amortization Event in any Supplement shall have occurred and then be continuing. If the Early Amortization Event described in clause (2) above has occurred, such Early Amortization Event shall be deemed no longer continuing if the Asset Base Deficiency is cured within thirty (30) days after the Payment Date on which such Asset Base Deficiency initially occurred; providedConversion Date, that, no more than one cure of such event can occur during any two year period. If the Early Class A Note Distributable Amortization Event described in clause (6) above has occurred, such Early Amount and the Class B Note Distributable Amortization Event shall be deemed no longer continuing immediately upon the waiver and/or cure of such Early Amortization Event in accordance with the terms of the applicable Supplement. Except as set forth in the immediately preceding paragraph, an Early Amortization Event shall be deemed to continue until the Business Day on which the Requisite Global Majority waives, in writing, such Early Amortization Event. The Indenture Trustee shall promptly provide notice of any such waiver to each Rating AgencyAmount.

Early Amortization Event. As of any date of determination, the existence of any one of the following events or conditions: (1) An “event of default” or a material “default” by TL, TEML or the Issuer under any Related Document (including an Event of Default hereunder) shall have occurred and then be continuing; (2) A Manager Default shall have occurred and then be continuing; (23) The Manager Report delivered for If on any Payment Date indicates that an Asset Base Deficiency with respect to the Senior Notes exists; , and such condition remains unremedied for a period of ten (310) The Manager Report delivered for any Payment Date indicates that the EBIT Ratio of the Issuer shall be less than 1.10:1.00consecutive Business Days without having been cured; (4) The Manager Report delivered for amount of any scheduled payment of interest then due and owing on the Notes of any Series then Outstanding is not paid in full; (5) [Reserved]; (6) As of any Payment Date indicates that Date, the Weighted Average Age of the Eligible Container is greater than nine (9) years; (7) Any payment shall be made by a Series Enhancer under any Enhancement Agreement; (8) The occurrence of an additional Early Amortization Event as specified in the related Supplement for any Series; or (9) (A) A a breach of any financial covenant of CAL TGH set forth in the documents governing any Indebtedness of CAI and/or its Subsidiaries TGH in an aggregate principal amount of $10,000,000 or greater (the “Funded Debt Documents”) in excess of $20,000,000 shall have occurred for such period of time as would permit and shall not have been waived within sixty (assuming 60) days thereafter by the giving of appropriate notice if required) the holder or holders thereof or of any obligations issued thereunder to accelerate the maturity of all or part of such Indebtedness, or any such holder or holders shall rescind or shall have a right to rescind the purchase of any such obligationsapplicable lenders, or (B) any default, not described in clause (A), under any Funded Debt Document shall have occurred and as a result the required lenders under the affected financing transaction have accelerated all or part of such Indebtedness; or (6) An event or condition designated as an Early Amortization Event in any Supplement shall have occurred and then be continuing. If the Early Amortization Event described in clause (29)(A) above has occurred, such Early Amortization Event shall be deemed no longer continuing if the Asset Base Deficiency is cured within thirty (30) days after the Payment Date on which such Asset Base Deficiency initially occurred; provided, that, no more than one cure of such event can occur during any two year period. If the Early Amortization Event described in clause (6) above has occurred, such Early Amortization Event shall be deemed no longer continuing immediately upon the waiver and/or cure of such Early Amortization Event in accordance with within sixty (60) days thereafter by the terms required lenders under the affected financing transaction(s) of the applicable Supplementevent(s) or condition(s) described in such clause (A). Except as set forth in the immediately preceding paragraphsentences, if an Early Amortization Event exists on any Payment Date, then such Early Amortization Event shall be deemed to continue until the Business Day on which the Requisite Global Majority waives, in writing, such Early Amortization Event. The Indenture Trustee Promptly following any occurrence of and, if applicable, any cure of an Early Amortization Event, the Issuer shall promptly provide notice of any such waiver to notify each Rating AgencyInterest Rate Hedge Provider thereof.

Early Amortization Event. As of any date of determinationDetermination Date, the existence of any one of the following events or conditionsconditions shall constitute an Early Amortization Event and any undrawn amount of the Initial Commitment shall be cancelled: (1) An Event of Default shall have occurred and then be continuing; (2) The sum of the then unpaid principal balances of all Notes then Outstanding on any Payment Date (after giving effect to all payments of principal to be paid on such Payment Date) exceeds the Asset Base, and such condition is not remedied for a period of ten (10) consecutive days; provided, however, if such Asset Base imbalance is caused solely by the reduction in the advance rate from 65% to 55% due to the Weighted Average Age of the Containers exceeding seven (7) years, then the period of ten (10) consecutive days provided to remedy such condition shall be extended to six (6) months thereafter. (3) A Manager Default shall have occurred and then be continuing; (24) The Manager Report delivered for any Payment Date indicates that an Asset Base Deficiency exists; (3) The Manager Report delivered for any Payment Date indicates that the EBIT Interest Coverage Ratio of the Issuer determined as of any Payment Date occurring on or after the Effective Date shall be less than 1.10:1.001.1 to 1.0; (45) The Issuer, Manager Report delivered for or Guarantor shall fail to be in compliance with any Payment Date indicates that of their financial covenants set forth in this Agreement, the Management Agreement, the Guaranty or any other Transaction Document; E73 (6) The Weighted Average Age of the Eligible Container Equipment as of any Payment Date is greater than nine eight (9) 8) years; (A) A breach of any financial covenant of CAL set forth in the documents governing any Indebtedness of CAI and/or its Subsidiaries (the “Funded Debt Documents”) in excess of $20,000,000 shall have occurred for such period of time as would permit (assuming the giving of appropriate notice if required) the holder or holders thereof or of any obligations issued thereunder to accelerate the maturity of all or part of such Indebtedness, or any such holder or holders shall rescind or shall have a right to rescind the purchase of any such obligations, or (B) any default, not described in clause (A), under any Funded Debt Document shall have occurred and as a result the required lenders under the affected financing transaction have accelerated all or part of such Indebtedness; or (67) An event The Cronos Group shall have a Tangible Net Worth Leverage Ratio of greater than 4.5:1; (8) The Cronos Group shall have a Gearing Ratio of greater than 3.5:1; (9) The Cronos Group shall fail to maintain a Tangible Net Worth of at least an amount equal to the sum of (x) Forty-five Million Dollars ($45,000,000) plus (y) fifty percent (50%) of all consolidated net income (but no reduced for losses) for all periods beginning after December 31, 2002. (10) The Cronos Group shall have an Interest Coverage Ratio of less than 1.1 to 1.0. (11) The Cronos Group shall have a Debt Service Coverage Ratio of less than 1.25 to 1.0. (12) The Agent shall not have received all such documentation that it considers necessary or condition designated as desirable to perfect the security interest of the Agent on behalf of the Noteholders in the Patents; or (13) The Agent shall not have received all opinions set forth in Section 1001(e) hereof in form and substance satisfactory to it within five (5) Business Days after the Effective Date. If an Early Amortization Event in exists on any Supplement shall have occurred and Payment Date, then be continuing. If the Early Amortization Event described in clause (2) above has occurred, such Early Amortization Event shall be deemed no longer continuing if the Asset Base Deficiency is cured within thirty (30) days after the Payment Date on which such Asset Base Deficiency initially occurred; provided, that, no more than one cure of such event can occur during any two year period. If the Early Amortization Event described in clause (6) above has occurred, such Early Amortization Event shall be deemed no longer continuing immediately upon the waiver and/or cure of such Early Amortization Event in accordance with the terms of the applicable Supplement. Except as set forth in the immediately preceding paragraph, an Early Amortization Event shall be deemed to continue until the earlier of (x) the Business Day immediately preceding the Payment Date on which no Early Amortization Event exists and (y) the Business Day on which the Requisite Global Majority waives, of Holders waives in writing, writing such Early Amortization Event. The Indenture Trustee Upon the occurrence of an Early Amortization Event of the type set forth in clauses (1), (2), (3), (4), (6) or (7) of this Section 1101, the Agent shall promptly provide notice have the right to conduct an annual audit of any such waiver to each Rating Agencythe Issuer at Issuer's expense.

Early Amortization Event. As of any date of determinationDetermination Date, the existence of any one of the following events or conditionsconditions shall constitute an Early Amortization Event: (1) An Event of Default shall have occurred and then be continuing; (2) The sum of the then unpaid principal balances of all Notes then Outstanding on any Payment Date (after giving effect to all payments of principal to be paid on such Payment Date) exceeds the Asset Base, and such condition is not remedied for a period of ten (10) consecutive days; (3) A Manager Default shall have occurred and then be continuing; (24) The Manager Report delivered for any Payment Date indicates that an Asset Base Deficiency exists; (3) The Manager Report delivered for any Payment Date indicates that the EBIT Consolidated Interest Coverage Ratio of the Issuer determined as of any Payment Date occurring on or after the Closing Date shall be less than 1.10:1.001.1 to 1.0; (45) The Issuer, Manager Report delivered for or Guarantor shall fail to be in compliance with any Payment Date indicates that of their financial covenants set forth in this Agreement, the Management Agreement, the Guaranty or any other Transaction Document. (6) The Weighted Average Age of the Eligible Container Equipment as of any Payment Date is greater than nine ten (910) years; (A) A breach of any financial covenant of CAL set forth in the documents governing any Indebtedness of CAI and/or its Subsidiaries (the “Funded Debt Documents”) in excess of $20,000,000 shall have occurred for such period of time as would permit (assuming the giving of appropriate notice if required) the holder or holders thereof or of any obligations issued thereunder to accelerate the maturity of all or part of such Indebtedness, or any such holder or holders shall rescind or shall have a right to rescind the purchase of any such obligations, or (B) any default, not described in clause (A), under any Funded Debt Document shall have occurred and as a result the required lenders under the affected financing transaction have accelerated all or part of such Indebtedness; or (6) An event or condition designated as . If an Early Amortization Event in exists on any Supplement shall have occurred and Payment Date, then be continuing. If the Early Amortization Event described in clause (2) above has occurred, such Early Amortization Event shall be deemed no longer continuing if the Asset Base Deficiency is cured within thirty (30) days after the Payment Date on which such Asset Base Deficiency initially occurred; provided, that, no more than one cure of such event can occur during any two year period. If the Early Amortization Event described in clause (6) above has occurred, such Early Amortization Event shall be deemed no longer continuing immediately upon the waiver and/or cure of such Early Amortization Event in accordance with the terms of the applicable Supplement. Except as set forth in the immediately preceding paragraph, an Early Amortization Event shall be deemed to continue until the earlier of (x) the Business Day immediately preceding the Payment Date on which no Early Amortization Event exists and (y) the Business Day on which the Requisite Global Majority waives, of Holders waives in writing, writing such Early Amortization Event. The Indenture Trustee Upon the occurrence of an Early Amortization Event of the type set forth in clauses (1), (2), (3), (4) and (6) of this Section 1101, the Agent shall promptly provide notice have the right to conduct an annual audit of any such waiver to each Rating Agency.the Issuer at Issuer's expense. ARTICLE XII

Early Amortization Event. As of any date of determination, the existence of any one of the following events or conditions: (1) A An Event of Default or a Manager Default shall have occurred and then be continuing; (2) The Manager Report delivered for any Payment Date indicates that an Asset Base Deficiency exists; (3) The Manager Report delivered for any Payment Date indicates that the EBIT Ratio of the Issuer shall be is less than 1.10:1.00; (4) The Manager Report delivered for any Payment Date indicates that the Weighted Average Age of the Eligible Container is greater than nine (9) years; (A) A breach of any financial covenant of CAI or CAL set forth in the documents governing any Indebtedness of CAI and/or its Subsidiaries (the “Funded Debt Documents”) in excess of $20,000,000 shall have occurred for such period of time as would permit (assuming the giving of appropriate notice if required) the holder or holders thereof or of any obligations issued thereunder to accelerate the maturity of all or part of such Indebtedness, or any such holder or holders shall rescind or shall have a right to rescind the purchase of any such obligations, or (B) any default, not described in clause (A), under any Funded Debt Document shall have occurred and as a result the required lenders under the affected financing transaction have accelerated all or part of such Indebtedness; or (6) An event or condition designated as an Early Amortization Event in any Supplement shall have occurred and then be continuing. If the Early Amortization Event described in clause (2) above has occurred, such Early Amortization Event shall be deemed no longer continuing if the Asset Base Deficiency is cured within thirty (30) days after the Payment Date on which such Asset Base Deficiency initially occurred; provided, that, no more than one cure of such event can occur during any two year period. If the Early Amortization Event described in clause (6) above has occurred, such Early Amortization Event shall be deemed no longer continuing immediately upon the waiver and/or cure of such Early Amortization Event in accordance with the terms of the applicable Supplement. Except as set forth in the immediately preceding paragraph, an Early Amortization Event shall be deemed to continue until the Business Day on which the Requisite Global Majority waives, in writing, such Early Amortization Event. The Indenture Trustee shall promptly provide notice of any such waiver to each Rating Agency.

Early Amortization Event. As With respect to the Series 2002-1 Notes, as of any date of determination, the existence of any one of the following events or conditionsconditions shall constitute an Early Amortization Event: (1i) An “event of default” under any Related Document (including an Event of Default) shall have occurred and then be continuing; (ii) A Manager Servicer Default shall have occurred and then be continuing; (2iii) The Manager Report delivered Aggregate Note Principal Balance of any Series exceeds the Asset Base for such Series on any Payment Date indicates that an Asset Base Deficiency exists(after giving effect to any payments of principal on such Payment Date) and such excess continues for a period of 10 consecutive days without being cured; (3iv) The Manager Report delivered for any Payment Date indicates that the EBIT Ratio of the Issuer shall be less than 1.10:1.00the Target EBIT Ratio; (4v) Prior to the date on which the Term Securitization is consummated, the Asset Base shall be less than or equal to $60,000,000, or, as of the close of business on the date on which the Term Securitization is consummated, either the Asset Base or the total Outstanding Obligations for Series 2002-1 shall be greater than $0; (vi) The Manager Report delivered occurrence of any other Early Amortization Event as specified in the Indenture; (vii) Outstanding Obligations exceed 90% of the aggregate Appraised Values of each Eligible Engine and such excess continues for a period of 10 consecutive days without being cured; (viii) The Quarterly Utilization Rate is less than 75%. (ix) The failure to pay in full on any Payment Date indicates that (a) interest accrued on the Weighted Average Age of the Eligible Container is greater than nine Notes, (9) years; (A) A breach of any financial covenant of CAL set forth in the documents governing any Indebtedness of CAI and/or its Subsidiaries (the “Funded Debt Documents”) in excess of $20,000,000 shall have occurred for such period of time as would permit (assuming the giving of appropriate notice if requiredb) the holder or holders thereof or of any obligations issued thereunder to accelerate Class A Minimum Principal Payment Amount and the maturity of all or part of such IndebtednessClass B Minimum Principal Payment Amount, or any such holder or holders shall rescind or shall have a right to rescind the purchase of any such obligations, or (Bc) any default, not described in clause (A), under any Funded Debt Document shall have occurred and as a result the required lenders under the affected financing transaction have accelerated all or part of such Indebtedness; or (6) An event or condition designated as an Early Amortization Event in any Supplement shall have occurred and then be continuing. If the Early Amortization Event described in clause (2) above has occurred, such Early Amortization Event shall be deemed no longer continuing if the Asset Base Deficiency is cured within thirty (30) days after the Payment Conversion Date, the Class A Note Distributable Amortization Amount and the Class B Note Distributable Amortization Amount, and (d) after the Subclass A2/B2 Amortization Commencement Date on which such Asset Base Deficiency initially occurred; providedand before the Conversion Date, that, no more than one cure of such event can occur during any two year period. If the Early Subclass A-2 Amortization Event described in clause (6) above has occurred, such Early Amount and Subclass B-2 Amortization Event shall be deemed no longer continuing immediately upon the waiver and/or cure of such Early Amortization Event in accordance with the terms of the applicable Supplement. Except as set forth in the immediately preceding paragraph, an Early Amortization Event shall be deemed to continue until the Business Day on which the Requisite Global Majority waives, in writing, such Early Amortization Event. The Indenture Trustee shall promptly provide notice of any such waiver to each Rating AgencyAmount.

Early Amortization Event. As of any date of determinationDetermination Date, the existence of any one of the following events or conditionsconditions shall constitute an Early Amortization Event: (1) An Event of Default shall have occurred and then be continuing; (2) The sum of the then unpaid principal balances of all Notes then Outstanding on any Payment Date (after giving effect to all payments of principal to be paid on such Payment Date) exceeds the Asset Base, and such condition is not remedied for a period of ten (10) consecutive days; (3) A Manager Default shall have occurred and then be continuing; (24) The Manager Report delivered for any Payment Date indicates that an Asset Base Deficiency exists; (3) The Manager Report delivered for any Payment Date indicates that the EBIT Interest Coverage Ratio of the Issuer determined as of any Payment Date occurring on or after the Effective Date shall be less than 1.10:1.001.1 to 1.0; (45) The Issuer, Manager Report delivered for or Guarantor shall fail to be in compliance with any Payment Date indicates that of their financial covenants set forth in this Agreement, the Management Agreement, the Guaranty or any other Transaction Document; (6) The Weighted Average Age of the Eligible Container Equipment as of any Payment Date is greater than nine eight (9) 8) years; (A) A breach of any financial covenant of CAL set forth in the documents governing any Indebtedness of CAI and/or its Subsidiaries (the “Funded Debt Documents”) in excess of $20,000,000 shall have occurred for such period of time as would permit (assuming the giving of appropriate notice if required) the holder or holders thereof or of any obligations issued thereunder to accelerate the maturity of all or part of such Indebtedness, or any such holder or holders shall rescind or shall have a right to rescind the purchase of any such obligations, or (B) any default, not described in clause (A), under any Funded Debt Document shall have occurred and as a result the required lenders under the affected financing transaction have accelerated all or part of such Indebtedness; or (67) An event The Cronos Group shall have a Tangible Net Worth Leverage Ratio in excess of 5:1; (8) The Cronos Group shall have a Gearing Ratio in excess of 4:1; (9) The Agent shall not have received all such documentation that it considers necessary or condition designated as desirable to perfect the security interest of the Agent on behalf of the Noteholders in the Patents within the time frame set forth in Section 1003 hereof; or (10) The Agent shall not have received all opinions set forth in Section 1001(e) hereof in form and substance satisfactory to it within five (5) Business Days after the Effective Date. If an Early Amortization Event in exists on any Supplement shall have occurred and Payment Date, then be continuing. If the Early Amortization Event described in clause (2) above has occurred, such Early Amortization Event shall be deemed no longer continuing if the Asset Base Deficiency is cured within thirty (30) days after the Payment Date on which such Asset Base Deficiency initially occurred; provided, that, no more than one cure of such event can occur during any two year period. If the Early Amortization Event described in clause (6) above has occurred, such Early Amortization Event shall be deemed no longer continuing immediately upon the waiver and/or cure of such Early Amortization Event in accordance with the terms of the applicable Supplement. Except as set forth in the immediately preceding paragraph, an Early Amortization Event shall be deemed to continue until the earlier of (x) the Business Day immediately preceding the Payment Date on which no Early Amortization Event exists and (y) the Business Day on which the Requisite Global Majority waives, of Holders waives in writing, writing such Early Amortization Event. The Indenture Trustee Upon the occurrence of an Early Amortization Event of the type set forth in clauses (1), (2), (3), (4), (6) or (7) of this Section 1101, the Agent shall promptly provide notice have the right to conduct an annual audit of any such waiver to each Rating Agencythe Issuer at Issuer's expense.