Issuer Aggregate STP Claim Clause Samples

Issuer Aggregate STP Claim. If: (1) a Mandatory Redemption Event has occurred by reason of the occurrence of a Swap Event following the occurrence of an “Event of Default” under Section 5(a)(vii) (Bankruptcy) of the Swap Agreement in respect of the Swap Counterparty; and (2) the Issuer has not received any Aggregate STP payable to it on or prior to the Mandatory Redemption Date, then: (a) Physical delivery of Aggregate STP claim: a 100% Noteholder may, no later than 10 Business Days following the Mandatory Redemption Date, send the Issuer, with a copy to the Swap Counterparty, the Disposal Agent and the Trustee, an Aggregate STP Claim Delivery Notice. Upon receipt of such Aggregate STP Claim Delivery Notice, the Issuer shall, as soon as reasonably practicable, and subject to payment of all Expenses owing and payable to the Trustee and the Secured Agents, assign its Issuer Aggregate STP Claim to the 100% Noteholder and notify the Swap Counterparty of such assignment upon the date thereof. Such assignment by the Issuer, notwithstanding any term to the contrary, shall be deemed to satisfy the Issuer’s obligation to pay such Aggregate STP as a component of the Mandatory Redemption Amount to the 100% Noteholder; or (b) Disposal of Aggregate STP claim: if the Issuer has not received an Aggregate STP Claim Delivery Notice in accordance with sub-paragraph (i) above, the Disposal Agent or any successor Disposal Agent, on behalf of the Issuer, shall arrange the sale of the Issuer Aggregate STP Claim in accordance with the procedures set out in Base Condition 10.1 for settlement as soon as reasonably practicable and the Issuer shall apply the proceeds received from such sale in accordance with the relevant Priority of Claims.
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Related to Issuer Aggregate STP Claim

  • Determination of Amount Outstanding On each Quarterly Date and, in addition, promptly upon the receipt by the Administrative Agent of a Currency Valuation Notice (as defined below), the Administrative Agent shall determine the aggregate Revolving Multicurrency Credit Exposure. For the purpose of this determination, the outstanding principal amount of any Loan that is denominated in any Foreign Currency shall be deemed to be the Dollar Equivalent of the amount in the Foreign Currency of such Loan, determined as of such Quarterly Date or, in the case of a Currency Valuation Notice received by the Administrative Agent prior to 11:00 a.m., New York City time, on a Business Day, on such Business Day or, in the case of a Currency Valuation Notice otherwise received, on the first Business Day after such Currency Valuation Notice is received. Upon making such determination, the Administrative Agent shall promptly notify the Multicurrency Lenders and the Borrower thereof.

  • Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $850,069,757.10

  • Unpaid Reimbursement Obligation Any Reimbursement Obligation for which the applicable Borrower does not reimburse the Administrative Agent and the Lenders on the date specified in, and in accordance with, §4.

  • Excess Finance Charge Collections Any amounts remaining in the Cap Proceeds Account, the Collection Account and the Payment Reserve Account, to the extent of any Available Series 1998-3 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsection 4.9(a)(i) through (xii) of the Agreement, shall be treated as Excess Finance Charge Collections, and the Servicer shall direct the Trustee in writing on each Business Day to withdraw such amounts from the Collection Account and to first make such amounts available to pay to Securityholders of other Series to the extent of shortfalls, if any, in amounts payable to such Securityholders from Finance Charge Collections allocated to such other Series, then to pay any unpaid commercially reasonable costs and expenses of a Successor Servicer, if any, and then on each Business Day other than the Default Recognition Date, to pay to the Transferor to be treated as "Transferor Retained Finance Charge Collections," and, on each Default Recognition Date, to pay any remaining Excess Finance Charge Collections to the Transferor. Notwithstanding the foregoing, if on any Default Recognition Date the sum of the amount of Available Series 1998-3 Finance Charge Collections (including, all amounts on deposit in the Payment Reserve Account) and Transferor Retained Finance Charge Collections is less than the Series Default Amount for such Default Recognition Date, the Servicer shall apply amounts deposited in the Accumulation Period Reserve Account pursuant to subsection 4.9(a)(xi) of the Agreement and the Spread Account pursuant to subsection 4.9(a)(viii) of the Agreement during the then current Monthly Period in accordance with subsection 4.9(a)(iii) of the Agreement to the extent of such shortfall.

  • Limitation on Aggregate Principal Amount The aggregate principal amount of the Notes shall not be limited. The Company shall not execute and the Trustee shall not authenticate or deliver Notes except as permitted by the terms of the Indenture.