Early Amortization Events. If any one of the following events shall occur: (a) any of the Seller, NITC, NIC or NFC shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or shall consent to the filing of any such petition, answer or consent; or the Seller or NFC shall appoint, or consent to the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or the Seller or NFC shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; (b) any order for relief against any of the Seller, NITC, NIC or NFC shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller or NFC under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of the Seller or NFC of any substantial part of their property, or for the winding up or liquidation of their affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days; or (c) the Master Trust shall become an "investment company" within the meaning of the Investment Company Act of 1940, as amended, and shall not be exempt from compliance with such Act; then, subject to applicable law, and after the applicable grace period, if any, an amortization event (an "Early Amortization Event") shall occur without any notice or other action on the part of the Master Trust Trustee, the Certificateholders or any other Beneficiary, immediately upon the occurrence of such event.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Navistar Financial Securities Corp)
Early Amortization Events. If Unless modified with respect to any Series of Notes by the Indenture Supplement for such Series, if any one of the following events shall occur:
(a) any of the Seller, NITC, NIC or NFC shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or Circuit City shall consent or fail to the filing of any such petition, answer or consent; or the Seller or NFC shall appoint, or consent object to the appointment of a custodian, receiver, liquidator, bankruptcy trustee, assigneeconservator, sequestrator receiver or other liquidator in any bankruptcy proceeding, insolvency, readjustment of debt, marshaling of assets and liabilities or similar official in bankruptcy proceeding of or insolvency of it relating to Circuit City or of any substantial part or relating to all or substantially all of its property, or a decree or order of a court, agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee, conservator, receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceeding, or for the winding-up or liquidation of its affairs, shall have been entered against Circuit City or an action seeking any such decree or order shall have been commenced and, notwithstanding an objection by Circuit City, shall have remained undischarged or unstayed for a period of sixty (60) days; or the Seller or NFC shall make an assignment for the benefit of creditors, or Circuit City shall admit in writing its inability to pay its debts generally as they become due, file or consent or fail to object (or object without dismissal of any such filing within sixty (60) days of such filing or the earlier entry of any order providing for such relief) to the filing of a petition to take advantage of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations;
(b) the Bank shall consent or fail to object to the appointment of a conservator, receiver or liquidator in any order for relief against any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceeding of or relating to the SellerBank or of or relating to all or substantially all of its property, NITC, NIC or NFC shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller or NFC under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court court, agency or supervisory authority having jurisdiction in the premises for the appointment of a custodianconservator, receiverreceiver or liquidator in any insolvency, liquidatorreadjustment of debt, trustee, assignee, sequestrator marshaling of assets and liabilities or other similar official in bankruptcy or insolvency of the Seller or NFC of any substantial part of their propertyproceeding, or for the winding winding-up or liquidation of their its affairs, shall have been enteredentered against the Bank; or the Bank shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations; or the Bank shall become unable for any reason to sell Receivables to the Transferor in accordance with the provisions of the Receivables Purchase Agreement;
(c) the Transferor shall consent or fail to object to the appointment of a bankruptcy trustee, conservator, receiver or liquidator in any bankruptcy proceeding, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceeding of or relating to the Transferor or of or relating to all or substantially all of its property, or a decree or order of a court, agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee, conservator, receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceeding, or for the winding-up or liquidation of its affairs, shall have been entered against the Transferor or an action seeking any such decree or order shall have been commenced and, notwithstanding an objection by the Transferor, shall have remained in force undischarged or unstayed for a period of 120 sixty (60) days; or
or the Transferor shall admit in writing its inability to pay its debts generally as they become due, file or consent or fail to object (or object without dismissal of any such filing within sixty (60) days of such filing or the earlier entry of any order providing for such relief) to the filing of a petition to take advantage of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations (any such event described in this clause (c) or in clause (a) or (b) above, an "Insolvency Event");
(d) the Master Trust Issuer shall become an "investment company" within the meaning of the Investment Company Act 1940 Act; or
(e) on or after the Certificate Trust Termination Date, the Transferor shall become unable for any reason to transfer Receivables to the Issuer in accordance with the provisions of 1940, as amended, the Transfer and shall not be exempt from compliance with such ActServicing Agreement; then, subject to applicable law, and after the applicable grace period, if any, an amortization event (an "Early Amortization Event") Event with respect to all Series then outstanding shall occur without any notice or other action on the part of the Master Trust Trustee, Indenture Trustee or the Certificateholders or any other Beneficiary, Noteholders immediately upon the occurrence of such event. Upon a Responsible Officer of the Indenture Trustee receiving actual notice thereof, the Indenture Trustee shall advise the Rating Agencies in writing of the occurrence of any Early Amortization Event.
Appears in 1 contract
Early Amortization Events. If Unless modified with respect to any Series of Investor Certificates by any related Supplement, if any one of the following events shall occur:
: (a) any of the SellerTransferor or Nordstrom Credit, NITC, NIC or NFC Inc. shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or shall consent to the filing of any such petition, answer or consent; or the Seller or NFC shall appoint, or consent to the appointment of a custodiantrustee, conserva- tor, receiver, liquidator, trustee, assignee, sequestrator custodian or other similar official in bankruptcy any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities, receiver- ship, conservatorship or insolvency similar proceedings of it or relat- ing to either the Transferor or Nordstrom Credit, Inc. or of any substantial part or relating to all or substantially all of its property; or the Seller or NFC shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due;
(b) any order for relief against any of the Seller, NITC, NIC or NFC shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller or NFC under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 daysproper- ty; or a decree or order of a court or agency or supervi- sory authority having jurisdiction in the premises for the appointment of a custodiantrustee, conservator, receiver, liquidator, trustee, assignee, sequestrator custodian or other similar official in bankruptcy any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities, receivership, conservatorship or insolvency of the Seller or NFC of any substantial part of their propertysimilar proceedings, or for the winding winding-up or liquidation liquida- tion of their its affairs, shall have been enteredentered against either the Transferor or Nordstrom Credit, and Inc. and, only in the case of Nordstrom Credit, Inc., such decree or order shall have remained in force undischarged or unstayed for a period of 120 sixty (60) days; or
either the Transferor or Nordstrom Credit, Inc. shall admit in writ- ing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable bankruptcy, insolvency, receivership, ▇▇▇▇▇▇- vatorship or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations; an involuntary petition shall be filed with respect to the Transferor or Nordstrom Credit, Inc. in a court of competent jurisdiction seeking to take advantage of any applicable bankruptcy, insolven- cy, receivership, conservatorship or reorganization stat- ute and, only in the case of Nordstrom Credit, Inc., such proceeding or petition shall continue undismissed for sixty (c60) days; or the Master Trust Transferor shall become an "investment company" within unable for any reason to transfer Receivables in accordance with the meaning provisions of the Investment Company Act of 1940, as amended, and shall not be exempt from compliance with such Actthis Agreement; then, subject to applicable law, and after the applicable grace period, if any, an amortization event (an "Early Amortization Event") shall occur without any notice or other action on the part of the Master Trust Trustee, the Certificateholders or any other Beneficiary, immediately upon the occurrence of such event.and
Appears in 1 contract
Sources: Master Pooling and Servicing Agreement (Nordstrom Inc)
Early Amortization Events. If any one of the following events (each, a "Trust Early Amortization Event") shall occur:
(a) the Transferor or any holder of an interest in the Seller, NITC, NIC or NFC Exchangeable Transferor Certificate shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or shall consent to the filing take advantage of any such petition, answer applicable insolvency or consent; or the Seller or NFC shall appoint, reorganization statute or consent to the appointment of a custodianconservator or receiver or liquidator in any insolvency, receiverreadjustment of debt, liquidatormarshalling of assets and liabilities or similar proceedings of or relating to the Transferor or any holder of an interest in the Exchangeable Transferor Certificate or all or substantially all of their respective property, trusteeor a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator or receiver or liquidator in any insolvency, assigneereadjustment of debt, sequestrator marshalling of assets and liabilities or other similar official in bankruptcy proceedings, or insolvency of it for the winding-up or of any substantial part liquidation of its propertyaffairs, shall have been entered against the Transferor or any holder of an interest in the Exchangeable Transferor Certificate (an "Insolvency Proceeding"); or the Seller Transferor or NFC shall make any holder of an assignment for interest in the benefit of creditors, or Exchangeable Transferor Certificate shall admit in writing its inability to pay its debts generally as they become due, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations (any such event, including an Insolvency Proceeding, an "Insolvency Event");
(b) the Transferor shall become unable for any order for relief against any reason to transfer Receivables to the Trust in accordance with the provisions of the Seller, NITC, NIC or NFC shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller or NFC under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of the Seller or NFC of any substantial part of their property, or for the winding up or liquidation of their affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 daysthis Agreement; or
(c) the Master Trust shall become subject to regulation by the Commission as an "investment company" within the meaning of the Investment Company Act of 1940, as amended, and shall not be exempt from compliance with such Act; then, subject to applicable law, and after the applicable grace period, if any, then an amortization event (an "Early Amortization Event") Event with respect to all Series of Certificates shall occur without any notice or other action on the part of the Master Trust Trustee, Trustee or the Investor Certificateholders or any other Beneficiary, immediately upon the occurrence of such event.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Bank Corporate Card Master Trust)
Early Amortization Events. If any one of the following events shall occur:
(a) any of the Depositor or the Servicer (or the Seller, NITC, NIC or NFC if it is not the Servicer) shall file a petition commencing a voluntary case under any chapter of the federal Federal bankruptcy laws; laws or the Seller Depositor or NFC the Servicer (or the Seller, as aforesaid) shall file a petition or answer or consent seeking reorganization, arrangement, adjustment adjustment, or composition under any other similar applicable federal Federal or state law, or shall consent to the filing of any such petition, answer or consent; or the Seller Depositor or NFC the Servicer (or the Seller, as aforesaid) shall appoint, or consent to the appointment of of, a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or the Seller Depositor or NFC the Servicer (or the Seller, as aforesaid) shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due;
(b) any order for relief against any of the Depositor or the Servicer (or the Seller, NITC, NIC or NFC if it is not the Servicer) shall have been entered by a court having jurisdiction in the premises under any chapter of the federal Federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller Depositor or NFC the Servicer (or the Seller, as aforesaid) under any other similar applicable federal Federal or state law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator sequestrator, or other similar official in bankruptcy or insolvency of the Seller Depositor or NFC the Servicer (or the Seller, as aforesaid) or of any substantial part of their property, its property or for the winding up or liquidation of their its affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days; or
(c) the Master occurrence of a Servicer Default; or (d) the Trust or the Depositor shall become an "investment company" within the meaning of the Investment Company Act of 1940, as amended, and shall not be exempt from compliance with such Act; . then, subject to applicable law, and after the applicable grace period, if any, an amortization event (an "Early Amortization Event") shall occur without any notice or other action on the part of the Master Trust Trustee, the Certificateholders Trustee or any other Beneficiary, immediately upon the occurrence of such event. The Trustee shall provide written notice to the Rating Agencies promptly after receipt of written notice of any such event.
Appears in 1 contract
Early Amortization Events. If any one of the following events (each, a "Trust Early Amortization Event") shall occur:
: the Transferor, the Originator, the Servicer (a) any if an Affiliate of the SellerOriginator) the Trust or Stage Stores, NITC, NIC or NFC Inc. shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or shall consent to the filing of any such petition, answer or consent; or the Seller or NFC shall appoint, or consent to the appointment of a custodianconservator or receiver or liquidator in any insolvency, receiverreadjustment of debt, liquidator, trustee, assignee, sequestrator marshalling of assets and liabilities or other similar official in bankruptcy proceedings of or insolvency of it relating to all or of any substantial part substantially all of its property, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Transferor, the Originator, the Servicer (if an Affiliate of the Originator) the Trust or Stage Stores, Inc.; or the Seller Transferor, the Originator, the Servicer (if an Affiliate of the Originator), the Trust or NFC shall make an assignment for the benefit of creditorsStage Stores, or Inc. shall admit in writing its inability to pay its debts generally as they become due;
, commence or have commenced against it (bunless dismissed within thirty days) any order for relief against any of the Seller, NITC, NIC or NFC shall have been entered by as a court having jurisdiction in the premises debtor a proceeding under any chapter applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations; the federal bankruptcy laws, and such order Originator shall have continued undischarged or unstayed become unable for a period of 120 daysany reason to Convey Receivables to SRLP pursuant to the Originator Purchase Agreement; SRLP shall become unable for any reason to Convey Receivables to the Transferor pursuant to the SRLP Purchase Agreement; or the Transferor shall become unable for any reason to Convey Receivables to the Trust in accordance with the provisions of this Agreement; the Trust at any time receives a decree final determination that the Trust will be treated as an "association" (or order by publicly traded partnership) taxable as a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller or NFC under any other similar applicable corporation for federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 daysincome tax purposes; or a decree the Transferor or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of the Seller or NFC of any substantial part of their property, or for the winding up or liquidation of their affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days; or
(c) the Master Trust shall become subject to regulation by the Securities and Exchange Commission as an "investment company" within the meaning of the Investment Company Act of 1940, as amended, and shall not be exempt from compliance with such Act; then, subject to applicable law, and after the applicable grace period, if any, then an amortization event (an "Early Amortization Event") Event with respect to all Series shall occur without any notice or other action on the part of the Master Trust Trustee, Trustee or the Investor Certificateholders or any other Beneficiary, immediately upon the occurrence of such event.
Appears in 1 contract
Early Amortization Events. If Unless modified with respect to any Series of Notes by the Indenture Supplement for such Series, if any one of the following events shall occur:
(a) any of the Seller, NITC, NIC or NFC shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or Transferor shall consent or fail to the filing of any such petition, answer or consent; or the Seller or NFC shall appoint, or consent object to the appointment of a custodianconservator, receiverreceiver or liquidator in any insolvency, liquidatorreadjustment of debt, trustee, assignee, sequestrator marshaling of assets and liabilities or other similar official in bankruptcy proceeding of or insolvency of it relating to the Transferor or of any substantial part or relating to all or substantially all of its property; , or a decree or order of a court, agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceeding, or for the winding-up or liquidation of its affairs, shall have been entered against the Transferor, or the Seller or NFC shall make an assignment for the benefit of creditors, or Transferor shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations (any such event described in this clause (a), an "Insolvency Event");
(b) any order for relief against any of the Seller, NITC, NIC or NFC shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller or NFC under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of the Seller or NFC of any substantial part of their property, or for the winding up or liquidation of their affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days; or
(c) the Master Trust Issuer shall become an "investment company" within the meaning of the Investment Company Act 1940 Act; or
(c) on or after the Certificate Trust Termination Date, the Transferor shall become unable for any reason to transfer Receivables to the Issuer in accordance with the provisions of 1940, as amended, the Transfer and shall not be exempt from compliance with such ActServicing Agreement; then, subject to applicable law, and after the applicable grace period, if any, an amortization event (an "Early Amortization Event") Event with respect to all Series then outstanding shall occur without any notice or other action on the part of the Master Trust Trustee, Indenture Trustee or the Certificateholders or any other Beneficiary, Noteholders immediately upon the occurrence of such event. Upon a Responsible Officer of the Indenture Trustee receiving actual notice thereof, the Indenture Trustee shall advise the Rating Agencies in writing of the occurrence of any Early Amortization Event.
Appears in 1 contract
Sources: Fourth Supplemental Indenture (Fnanb Credit Card Master Trust)
Early Amortization Events. If Unless supplemented or modified with respect to any Series of Investor Certificates by any related Supplement, if any one of the following events shall occur:
(a) any of the SellerTransferor, NITCYamaha Motor Corporation, NIC U.S.A. or NFC DFS (if it is then acting as sub-servicer) shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or shall consent to the filing of any such petition, answer or consent; or the Seller or NFC shall appoint, or consent to the appointment of a custodianconservator or receiver or liquidator in any insolvency, receiverreadjustment of debt, liquidatormarshaling of assets and liabilities or similar proceedings of or relating to the Transferor, trusteeYamaha Motor Corporation, assignee, sequestrator U.S.A. or other similar official in bankruptcy DFS (if it is then acting as subservicer) of or insolvency of it relating to all or of any substantial part substantially all of its property; or the Seller or NFC shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due;
(b) any order for relief against any of the Seller, NITC, NIC or NFC shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller or NFC under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a custodianconservator or receiver or liquidator in any insolvency, receiverreadjustment of debt, liquidator, trustee, assignee, sequestrator marshaling of assets and liabilities or other similar official in bankruptcy or insolvency of the Seller or NFC of any substantial part of their propertyproceedings, or for the winding winding-up or liquidation of their its affairs, shall have been enteredentered against the Transferor, Yamaha Motor Corporation, U.S.A. or DFS (if it is then acting as sub-servicer) and such decree or order shall have remained in force undischarged or unstayed for a period of 120 sixty (60) days; oror the Transferor or Yamaha Motor Corporation, U.S.A. shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations; or such transferor shall become unable for any reason to transfer Receivables to the Trust in accordance with the provisions of this Agreement;
(cb) the Master Trust shall become an "investment company" within the meaning of the Investment Company Act of 1940, as amended;
(c) on any Determination Date, the Transferor Amount as of the last day of the prior Collection Period was less than 10% of the Trust Principal Component as of the last day of the prior Collection Period, and such condition shall have continued unremedied for ten (10) consecutive days or more;
(d) failure on the part of the Transferor or Yamaha Motor Corporation, U.S.A. (i) to make any payment or deposit on the date required under this Agreement or the Receivables Purchase Agreement, as applicable (or within the applicable grace period which will not exceed five (5) Business Days), (ii) duly to observe or perform in any material respect the covenant of the Transferor contained in Section 2.5(a) of this Agreement, (iii) duly to observe or perform in any material respect any other covenants or agreements of the Transferor in this Agreement, to the extent assigned to the Trust, in the Receivables Purchase Agreement, which in the case of subclause (iii) hereof, continues unremedied for a period of sixty (60) days after written notice to the Transferor or Yamaha Motor Corporation, U.S.A., as applicable, and continues to affect materially and adversely the interests of the Certificateholders for such period (or, with respect to a failure arising out of the creation of certain liens upon the Receivables or the failure by the Transferor or the Servicer to comply with Section 2.5(a) of this Agreement immediately); provided, however, that an Early Amortization Event described in clause (ii) or (iii) shall not be exempt from compliance deemed to occur if the Transferor has accepted the transfer of the related Receivable during such period (or such longer period as the Trustee may specify not to exceed an additional sixty (60) days) in accordance with the provisions of this Agreement;
(e) any representation or warranty made by the Transferor in this Agreement or any representation or warranty made by Yamaha Motor Corporation, U.S.A. in the Receivables Purchase Agreement or any information required to be given by the Transferor or the Servicer to the Trustee to identify the Accounts proves to have been incorrect in any material respect when made and continues to be incorrect in any material respect for a period of sixty (60) days after written notice and as a result of which the interests of the Certificateholders are materially and adversely affected and which continues to materially and adversely affect the interests of the Certificateholders for such Actperiod; provided, however, that an Early Amortization Event described in this clause (e) shall not be deemed to occur if the Transferor has accepted the transfer of the related Receivable or all such Receivables, if applicable, during such period (or such longer period as the Trustee may specify not to exceed an additional sixty (60) days) in accordance with the provisions of this Agreement;
(f) any Servicer Default occurs which would have a material adverse effect on the Certificateholders; or
(g) Undistributed Principal Collections remain in the Special Funding Account for twelve consecutive Collection Periods; then, subject to applicable law, and after the applicable grace period, if any, an amortization event (an "Early Amortization Event") Event with respect to all Series of Certificates then outstanding shall occur without any notice or other action on the part of the Master Trust Trustee, the Trustee or all Investor Certificateholders or any other Beneficiary, immediately upon the occurrence of such event. The Trustee shall advise the Rating Agencies in writing of the occurrence of any Early Amortization Event of which an officer in the Trust Administration Department of the Trustee shall have actual knowledge. In the case of any event described in subsection (d), (e) or (f), an Early Amortization Event will be deemed to have occurred with respect to any Series only if, after any applicable grace period described in such clauses, either the Trustee or Certificateholders of such Series evidencing undivided interests aggregating more than 50% of the invested amount of such Series, by written notice to the Transferor and the Servicer (and to the Trustee, if given by such Certificateholders) declare that an Early Amortization Event has occurred as of the date of such notice.
Appears in 1 contract
Sources: Master Pooling and Servicing Agreement (Yamaha Motor Receivables Corp)
Early Amortization Events. If The occurrence of any one or more of the following events shall occurconstitute an "Early Amortization Event":
(a) any of the Seller, NITC, NIC or NFC shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or Either the Seller or NFC the Originator shall file a petition fail to make any payment or answer deposit required hereunder or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or Transaction Document when due and such failure shall consent to the filing of any such petition, answer or consent; or remain unremedied for five (5) Business Days;
(b) Either the Seller or NFC the Originator shall appointfail to perform or observe any term, covenant or consent agreement hereunder or under any other Transaction Document (other than as referred to in paragraph (a)) and such failure shall continue for fifteen (15) days after the appointment earlier of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or (i) the date on which the Seller or NFC the Originator obtains knowledge thereof and (ii) the date on which written notice thereof is given to the Seller or the Originator;
(c) Any representation, warranty, certification or statement made by the Seller or the Originator in this Agreement, any other Transaction Document or in any other document delivered pursuant hereto or thereto shall make an assignment for prove to have been incorrect in any material respect when made or deemed made and either (i) the benefit failure of creditorssuch representation, warranty, certification or statement to be true and correct shall have a Material Adverse Effect or (ii) such representation, warranty, certification or statement shall continue to be incorrect;
(d) Any Servicer Default shall occur and be continuing;
(i) The Seller, the Originator or any of their respective Subsidiaries shall generally not pay its debts as such debts become due or shall admit in writing its inability to pay its debts generally as they become due;
(b) or shall make a general assignment for the benefit of creditors; or any order for relief proceeding shall be instituted by or against any of the Sellersuch Person seeking to adjudicate it bankrupt or insolvent, NITCor seeking liquidation, NIC or NFC shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy lawswinding up, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, protection, relief or composition of the Seller it or NFC its debts under any other similar applicable federal lawlaw relating to bankruptcy, and such decree insolvency or reorganization or relief of debtors, or seeking the entry of an order shall have continued undischarged for relief or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator trustee or other similar official in bankruptcy for it or insolvency of the Seller or NFC of any substantial part of their property, its property or (ii) any such Person shall take any corporate action to authorize any of the actions set forth in clause (i) above in this subsection (e);
(f) The Agent for the winding up or liquidation benefit of their affairsthe Purchasers shall cease to have a valid and perfected first priority security interest in the Dealer Receivables, shall have been entered, the Related Security and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days; orthe Collections with respect thereto and the Deposit Accounts;
(cg) the Master Trust The Seller shall become be required to register as an "investment company" within by the meaning provisions of the Investment Company Act of 1940, as amended;
(h) As at the end of any calendar month, (i) the Variable Dilution Ratio shall exceed 5.0%, (ii) the average of the Planned Dilution Ratios for the three most recently ended calendar months shall exceed 20%, (y) the average of the Payment Rates for the three most recently ended calendar months shall be less than (x) if such three calendar month period shall end with the month of January, February, March or April, 4.0% and (y) in all other cases, 9.0% or (iv) the Default Ratio shall exceed 2.0%;
(i) The aggregate Ownership Interests shall exceed 100% and shall not be exempt from compliance with continue as such Actuntil the earlier of (i) two Business Days following the date either the Seller or the Servicer has actual knowledge thereof and (ii) the next Payment Date; then, subject to applicable law, and after the applicable grace period, if any, an amortization event (an "Early Amortization Event") shall occur without any notice or other action on the part of the Master Trust Trustee, the Certificateholders or any other Beneficiary, immediately upon the occurrence of such event.or
Appears in 1 contract
Early Amortization Events. If Unless modified with respect to any Series of Investor Certificates by the Supplement for such Series, if any one of the following events shall occur:
(a) any of the Seller, NITC, NIC or NFC shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or Transferor shall consent or fail to the filing of any such petition, answer or consent; or the Seller or NFC shall appoint, or consent object to the appointment of a custodian, receiver, liquidator, bankruptcy trustee, assigneeconservator, sequestrator receiver or other liquidator in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar official in bankruptcy proceeding of or insolvency of it relating to the Transferor or of any substantial part or relating to all or substantially all of its property, or a decree or order of a court, agency or supervisory authority having jurisdiction in the premises for the appointment of a bankruptcy trustee, conservator, receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceeding, or for the winding-up or liquidation of its affairs, shall have been entered against the Transferor; or the Seller or NFC shall make an assignment for the benefit of creditors, or Transferor shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations (any such event, an “Insolvency Event”);
(b) the Transferor shall become unable for any order for relief against any reason to transfer Receivables to the Trust in accordance with the provisions of the Seller, NITC, NIC or NFC shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller or NFC under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of the Seller or NFC of any substantial part of their property, or for the winding up or liquidation of their affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 daysthis Agreement; or
(c) the Master Trust shall become an "“investment company" ” within the meaning of the Investment Company Act of 1940, as amended, and shall not be exempt from compliance with such amended (the “1940 Act”); then, subject to applicable law, and after the applicable grace period, if any, an amortization event (an "Early Amortization Event") Event with respect to all Series then outstanding shall occur without any notice or other action on the part of the Master Trust Trustee, Trustee or the Investor Certificateholders or any other Beneficiary, immediately upon the occurrence of such event. Upon a Responsible Officer of the Trustee receiving actual notice thereof, the Trustee shall advise the Rating Agencies in writing of the occurrence of any Early Amortization Event.
Appears in 1 contract
Sources: Master Pooling and Servicing Agreement (Circuit City Credit Card Master Trust)
Early Amortization Events. If any one of the following events (each, an "Early Amortization Event") shall occuroccur with respect to any Series:
(a) Retailers National Bank, TCC, the Transferor or any Holder of the Seller, NITC, NIC or NFC Transferor Certificate shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal lawfail generally to, or shall consent to the filing of any such petitionadmit in writing its inability to, answer pay its debts as they become due or consent; or the Seller or NFC shall appoint, or consent to the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or the Seller or NFC shall make makes an assignment for the benefit of its creditors, ; or shall admit in writing its inability to pay its debts generally as they become due;
(b) any order for relief against any of the Seller, NITC, NIC or NFC a proceeding shall have been entered by instituted in a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or seeking a decree or order by a court having jurisdiction for relief in respect of Retailers National Bank, TCC, the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustmentTransferor or any Holder of the Transferor Certificate in an involuntary case under any Debtor Relief Law, or composition of the Seller or NFC under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, assignee, trustee, assigneecustodian, sequestrator sequestrator, conservator or other similar official in bankruptcy of such Person or insolvency of the Seller or NFC of for any substantial part of their its property, or for the winding winding-up or liquidation liquidation, dissolution, reorganization or readjustment of their affairsits affairs or similar relief and, if instituted against the Transferor or any Holder of the Transferor Certificate, any such proceeding shall have been entered, and such decree or order shall have remained in force undischarged continue undismissed or unstayed and in effect, for a period of 120 60 consecutive days, or any of the actions sought in such proceeding shall occur; oror the commencement by Retailers National Bank, TCC, the Transferor or any Holder of the Transferor Certificate, of a voluntary case under any Debtor Relief Law, or such Person's seeking, consenting or acquiescing to the entry of an order for relief in an involuntary case under any Debtor Relief Law, or seeking, consenting or acquiescing to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator, conservator or other similar official of such Person or for any substantial part of its property, or any general assignment for the benefit of creditors; or such Person or any subsidiary of such Person shall have taken any corporate action in furtherance of any of the foregoing actions (any such event, an "Insolvency Event");
(cb) the Master Trust shall become an "investment company" within the meaning of the Investment Company Act Act;
(c) the Transferor Amount (excluding the interest represented by any Supplemental Certificate) shall be less than the Required Retained Transferor Amount; or
(d) the Transferor shall become unable for any reason to transfer Receivables to the Trust pursuant to this Agreement; then in the case of 1940, as amended, and shall not be exempt from compliance with any such Act; then, subject to applicable law, and after the applicable grace period, if anyevent, an amortization event (an "Early Amortization Event") Event shall occur with respect to such Series without any notice or other action on the part of the Master Trust Trustee, Trustee or the Certificateholders or any other BeneficiaryInvestor Certificateholders, immediately upon the occurrence of such event.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Target Receivables Corp)
Early Amortization Events. If Unless modified with respect to any Series of Investor Certificates by the Supplement for such Series, if any one of the following events shall occur:
(a) any of the Seller, NITC, NIC or NFC shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or Transferor shall consent or fail to the filing of any such petition, answer or consent; or the Seller or NFC shall appoint, or consent object to the appointment of a custodianconservator, receiverreceiver or liquidator in any insolvency, liquidatorreadjustment of debt, trustee, assignee, sequestrator marshaling of assets and liabilities or other similar official in bankruptcy proceeding of or insolvency of it relating to the Transferor or of any substantial part or relating to all or substantially all of its property; , or a decree or order of a court, agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceeding, or for the winding-up or liquidation of its affairs, shall have been entered against the Transferor, or the Seller or NFC shall make an assignment for the benefit of creditors, or Transferor shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations (any such event, an "Insolvency Event");
(b) the Transferor shall become unable for any order for relief against any reason to transfer Receivables to the Trust in accordance with the provisions of the Seller, NITC, NIC or NFC shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller or NFC under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of the Seller or NFC of any substantial part of their property, or for the winding up or liquidation of their affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 daysthis Agreement; or
(c) the Master Trust shall become an "investment company" within the meaning of the Investment Company Act of 1940, as amended, and shall not be exempt from compliance with such amended (the "1940 Act"); then, subject to applicable law, and after the applicable grace period, if any, an amortization event (an "Early Amortization Event") Event with respect to all Series then outstanding shall occur without any notice or other action on the part of the Master Trust Trustee, Trustee or the Investor Certificateholders or any other Beneficiary, immediately upon the occurrence of such event. Upon a Responsible Officer of the Trustee receiving actual notice thereof, the Trustee shall advise the Rating Agencies in writing of the occurrence of any Early Amortization Event.
Appears in 1 contract
Sources: Master Pooling and Servicing Agreement (Fnanb Credit Card Master Trust)
Early Amortization Events. If An Early Amortization Event for any one Series of Notes shall be any of the events so defined in the Series Supplement relating to a Series of Notes, as well as the following events shall occurevents:
(a) any of a failure by the Seller, NITC, NIC Transferor to convey Receivables in Additional Accounts to the Trust within 15 Business Days after the day on which it is required to convey such Accounts;
(b) the Transferor or NFC the Servicer shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller Transferor or NFC the Servicer shall file a petition or answer or consent seeking reorganization, arrangement, adjustment adjustment, or composition under any other similar applicable federal law, or shall consent to the filing of any such petition, answer answer, or consent; or the Seller Transferor or NFC the Servicer shall appoint, or consent to the appointment of of, a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or the Seller Transferor or NFC the Servicer shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due;
(bc) any order for relief against any of the Seller, NITC, NIC Transferor or NFC the Servicer shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 60 days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller Transferor or NFC the Servicer under any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator sequestrator, or other similar official in bankruptcy or insolvency of the Seller Transferor or NFC the Servicer or of any substantial part of their property, its property or for the winding up or liquidation of their its affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 days;
(d) World Omni or Toyota shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or World Omni or Toyota shall file a petition or answer or consent seeking reorganization, arrangement, adjustment, or composition under any other similar applicable federal law, or shall consent to the filing of any such petition, answer, or consent; or World Omni or Toyota shall appoint, or consent to the appointment of, a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of it or of any substantial part of its property; or World Omni or Toyota shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due;
(e) any order for relief against World Omni or Toyota shall have been entered by a court having jurisdiction in the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of sixty (60) days; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of World Omni or Toyota under any other similar applicable state or federal law, and such decree or order shall have continued undischarged or unstayed for a period of one hundred and twenty (120) days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator, or other similar official in bankruptcy or insolvency of World Omni or Toyota or of any substantial part of its property, or for the winding up or liquidation of its affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of one hundred and twenty (120) days; or
(cf) the Master Trust or the Transferor shall become an "investment company" within the meaning of the Investment Company Act Act. Immediately upon the occurrence of 1940, as amended, and shall not be exempt from compliance with such Act; thenany event described above or in the related Series Supplement for a Series of Notes, subject to applicable law, and after the applicable grace period, if any, an amortization event (an "Early Amortization Event") shall occur without any notice or other action on the part of any party, as set forth in the Master Trust Trustee, Series Supplement and solely with respect to the Certificateholders or any other Beneficiary, immediately upon the occurrence of such eventaffected Series.
Appears in 1 contract
Sources: Indenture (Wodfi LLC)
Early Amortization Events. If any one of the following events (each, a “Trust Early Amortization Event”) shall occur:
(a) any of the Seller, NITCthe Originator or Charming Shoppes, NIC or NFC Inc. shall file a petition commencing a voluntary case under any chapter of the federal bankruptcy laws; or the Seller or NFC shall file a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under any other similar applicable federal law, or shall consent to the filing of any such petition, answer or consent; or the Seller or NFC shall appoint, or consent to the appointment of a custodianconservator or receiver or liquidator in any insolvency, receiverreadjustment of debt, liquidator, trustee, assignee, sequestrator marshalling of assets and liabilities or other similar official in bankruptcy proceedings of or insolvency of it relating to all or of any substantial part substantially all of its property, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Seller, the Originator or Charming Shoppes, Inc.; or the Seller Seller, the Originator or NFC shall make an assignment for the benefit of creditorsCharming Shoppes, or Inc. shall admit in writing its inability to pay its debts generally as they become due, commence or have commenced against it (unless dismissed within thirty days) as a debtor a proceeding under any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations;
(b) the Originator shall become unable for any order for relief against any of reason to Convey Receivables to the Seller, NITC, NIC or NFC shall have been entered by a court having jurisdiction in Seller pursuant to the premises under any chapter of the federal bankruptcy laws, and such order shall have continued undischarged or unstayed for a period of 120 daysPurchase Agreement; or a decree or order by a court having jurisdiction in the premises shall have been entered approving as properly filed a petition seeking reorganization, arrangement, adjustment, or composition of the Seller or NFC under shall become unable for any other similar applicable federal law, and such decree or order shall have continued undischarged or unstayed for a period reason to Convey Receivables to the Trust in accordance with the provisions of 120 days; or a decree or order of a court having jurisdiction in the premises for the appointment of a custodian, receiver, liquidator, trustee, assignee, sequestrator or other similar official in bankruptcy or insolvency of the Seller or NFC of any substantial part of their property, or for the winding up or liquidation of their affairs, shall have been entered, and such decree or order shall have remained in force undischarged or unstayed for a period of 120 daysthis Agreement; or
(c) the Master Seller or the Trust shall become subject to regulation by the Securities and Exchange Commission as an "“investment company" ” within the meaning of the Investment Company Act of 1940, as amended, and shall not be exempt from compliance with such Act; then, subject to applicable law, and after the applicable grace period, if any, then an amortization event (an "Early Amortization Event") Event with respect to all Series shall occur without any notice or other action on the part of the Master Trust Trustee, the Investor Certificateholders or any other Beneficiary, the Receivables Purchasers immediately upon the occurrence of such event.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Alliance Data Systems Corp)