Rapid Amortization Events definition

Rapid Amortization Events. With respect to a series of Term Notes or Certificates, the events designated as such in the Officer’s Issuance Certificate or Certificate Issuance Order applicable to such series of Term Notes or a class of Certificates.
View Source
Rapid Amortization Events means: (i) an Insolvency Event has occurred with respect to the Issuer; (ii) if on any two consecutive Payment Dates, either (A) the sum of Available Funds plus, without duplication, amounts on deposit in the Reserve Account are not sufficient to pay all Accrued Interest due on the Notes, or (B) after application of all Available Funds in accordance with the Priority of Payments, the Overcollateralization Amount would be less than the Required Overcollateralization Amount; (iii) if on any Payment Date, after application of all Available Funds in accordance with the Priority of Payments on such Payment Date, the sum of the Aggregate Loan Balance plus the amount on deposit in the Reserve Account would be less than the Aggregate Principal Amount; or (iv) the Control Party has provided written notice to the Trustee that an event described in subsection 11.1(a), (b), (d), (e) or (f) has occurred and is continuing and that such event has been designated a Rapid Amortization Event by the Control Party whether or not such event has also been declared an Event of Default. The Rapid Amortization Events described in (ii), (iii) and (iv) above will continue to be in effect until such time, if ever, that the Control Party has consented to the termination of the Rapid Amortization Event.
View Source
Rapid Amortization Events failure on the part of the Master Servicer or Sponsor (i) to make a payment or deposit required under the Sale and Servicing Agreement within five Business Days after the date such payment or deposit is required to be made or (ii) to observe or perform in any material respect any other covenants or agreements of the Sponsor set forth in the Sale and Servicing Agreement, which failure continues unremedied for a period of 60 days after written notice;
View Source

Examples of Rapid Amortization Events in a sentence

  • RAPID AMORTIZATION EVENTS AND REMEDIES 69 Section 9.1. Rapid Amortization Events.

  • Except as provided in clause (d) above, Rapid Amortization Events shall not be curable.

  • A Supplement may specify events in addition to those specified in SECTION 7.1 above which will constitute Rapid Amortization Events with respect to the Series to which such Supplement relates; PROVIDED, HOWEVER, that the procedures for giving a Rapid Amortization Notice shall not differ from those set forth in the final paragraph of SECTION 7.1 and shall have the consequences specified in SECTION 7.3 below.

  • Notice of Rapid Amortization Events and Events of Servicing Termination....................

  • Additional Rapid Amortization Events Purchase of Investor Certificates and Series Termination Variable Accumulation Period Series Yield Factor Issuance of Additional Investor Certificates.

  • Notice of Rapid Amortization Events and Events of Servicing Termination..........

  • Notice of Rapid Amortization Events and Events of Servicing Termination...............................

  • Notice of Rapid Amortization Events and Events of Servicing Termination....................12 SECTION 3.19.

  • Notice of Rapid Amortization Events and Events of Servicing Termination....................16 SECTION 3.19.

  • Section 11.4. Notice of Events of Default, Rapid Amortization Events, Defaults and Potential Rapid Amortization Events Section 11.5. Compensation and Expenses Section 11.6. Eligibility Disqualification Section 11.7. Replacement of the Trustee Section 11.8. Successor Trustee by M▇▇▇▇▇, etc.


More Definitions of Rapid Amortization Events

Rapid Amortization Events. The following will constitute Rapid Amortization Events:
View Source
Rapid Amortization Events means: (i) an Insolvency Event has occurred with respect to the Issuer; (ii) if on any two consecutive Payment Dates, either (A) the sum of
View Source
Rapid Amortization Events. As described in the Preliminary Offering Memorandum Prepayments: As described in the Preliminary Offering Memorandum Rule 144A CUSIP/ISIN Numbers: 03789X AA6/ US03789XAA63 Issue Description: SR SECD NT CL A-2 144A 3C7 Reg S CUSIP/ISIN Numbers U00553 AA2/USU00553AA28 Issue Description: SR SECD NT CL A-2 REG S Distribution: 144A/Reg S/3(c)(7) compliant This Pricing Supplement (this “Pricing Supplement”) is qualified in its entirety by reference to the Preliminary Offering Memorandum, dated July 31, 2014, of Applebee’s Funding LLC and IHOP Funding LLC (the “Preliminary Offering Memorandum”). The information in this Pricing Supplement supersedes the information in the Preliminary Offering Memorandum to the extent inconsistent with the information in the Preliminary Offering Memorandum. Capitalized terms used herein and not defined herein have the meanings assigned in the Preliminary Offering Memorandum. THE OFFERED NOTES ARE SOLELY THE JOINT AND SEVERAL OBLIGATIONS OF THE CO-ISSUERS (GUARANTEED BY THE GUARANTORS). THE OFFERED NOTES DO NOT REPRESENT OBLIGATIONS OF THE MANAGER OR ANY OF ITS AFFILIATES (OTHER THAN THE CO-ISSUERS AND THE GUARANTORS), OFFICERS, DIRECTORS, SHAREHOLDERS, MEMBERS, PARTNERS, EMPLOYEES, REPRESENTATIVES OR AGENTS. THE OFFERED NOTES ARE NOT INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY. THE OFFERED NOTES REPRESENT NON-RECOURSE OBLIGATIONS OF THE CO-ISSUERS (GUARANTEED BY THE GUARANTORS) AND ARE PAYABLE SOLELY FROM THE COLLATERAL, AND PROSPECTIVE INVESTORS SHOULD MAKE AN INVESTMENT DECISION BASED UPON AN ANALYSIS OF THE SUFFICIENCY OF THE COLLATERAL. THE ISSUANCE AND SALE OF THE OFFERED NOTES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR ANY STATE SECURITIES LAWS, AND NO SERIES 2014- 1 CLASS A-2
View Source
Rapid Amortization Events means the occurrence of any of the following events: (i) as of any Monthly Report Determination Date, the rolling trailing 6-month average Collateral Default Ratio shall exceed 5%; (ii) the Borrower fails to satisfy the Minimum Obligor Test at any time;
View Source

Related to Rapid Amortization Events