CP Disruption Event definition

CP Disruption Event means the inability of any Conduit Lender, at any time, whether as a result of a prohibition, a contractual restriction or any other event or circumstance whatsoever, to raise funds through the issuance of its commercial paper notes (whether or not constituting “Commercial Paper” hereunder) in the United States commercial paper market.

CP Disruption Event. The inability of a Purchaser, at any time, whether as a result of a prohibition, a contractual restriction or any other event or circumstance whatsoever, to raise funds through the issuance of its commercial paper notes (whether or not constituting commercial paper notes issued to fund Purchases hereunder) in the United States commercial paper market.

CP Disruption Event means, at any time, the inability of the Issuer to raise (whether as a result of a prohibition or any other event or circumstance whatsoever) funds through the issuance of commercial paper notes in the United States commercial paper market, including, without limitation, by virtue of (i) any disruption in the commercial paper market, (ii) insufficient availability under the liquidity or enhancement facility entered into by the Issuer with respect to this Agreement or (iii) a downgrade of the rating of one or more financial institutions extending credit to or for the account of the Issuer or having a commitment to extend credit to the Lender under a liquidity or enhancement facility which relates to this Agreement to a level lower than that required by the Rating Agencies.

Examples of CP Disruption Event in a sentence

• Furthermore, if a CP Disruption Event shall have occurred and be continuing, the Purchaser, or the Deal Agent on its behalf, may, upon notice to the Seller, terminate any Purchase Period then in effect if the Purchaser has funded the Capital allocated to such Purchase Period by issuing its commercial paper notes.

• Furthermore, if a CP Disruption Event shall have occurred and be continuing, the Purchaser, or the Deal Agent on its behalf, may, upon notice to the Transferor and the Trustee, terminate any Tranche Period then in effect if the Purchaser has funded any portion of the Principal Amount allocated to such Tranche Period by issuing its commercial paper notes.

• The Senior Lender shall promptly thereafter notify the Borrower and the Agent if a CP Disruption Event has occurred and is continuing.

• At all times after the Termination Date but prior to the occurrence of a Termination Event, Discount shall be calculated by reference to the CP Rate; provided that the Company may determine, from time to time, in its sole discretion (whether as a result of a CP Disruption Event or otherwise), that funding such Net Investment by means of the issuance of Commercial Paper is not possible or is not desirable for any reason.

• In the event the Purchaser is not able to make a Purchase that it otherwise has agreed to make solely as a result of a CP Disruption Event, the Purchaser will, to the extent an advance is permitted to be made under the Liquidity Agreement, request such an advance under the Liquidity Agreement and, upon receipt of the proceeds of such advance, will make such Purchase in an amount equal to the amount of such advance.

More Definitions of CP Disruption Event

CP Disruption Event. The inability of the Purchaser, at any time, whether as a result of a prohibition, a contractual restriction or any other event or circumstances whatsoever, to raise funds through the issuance of its commercial paper notes (whether or not constituting commercial paper notes issued to fund Purchases hereunder) in the United States commercial paper market.

CP Disruption Event means, with respect to a Conduit Purchaser, that (a) such Conduit Purchaser is unable to raise funds through the issuance of Commercial Paper or (b) the Managing Agent for such Conduit Purchaser’s Ownership Group reasonably believes that it is inadvisable or impermissible for such Conduit Purchaser to raise funds through the issuance of Commercial Paper; provided, that, a CP Disruption Event with respect to a Conduit Purchaser shall cease to exist, in the case of clause (a) when such Conduit Purchaser becomes able to raise funds through the issuance of Commercial Paper, and in the case of clause (b) when such Managing Agent reasonably believes it is advisable or permissible, as the case may be, for such Conduit Purchaser to raise funds through the issuance of Commercial Paper.

CP Disruption Event means, with respect to any CP Conduit Purchaser, an event that is deemed to have occurred on the date that CRCF, the Surety Provider, the Administrator and the Administrative Agent receive notice from such CP Conduit Purchaser that such CP Conduit Purchaser is unable to raise, or is precluded or prohibited from raising, funds through the issuance of Commercial Paper and is deemed to continue until the Administrator and the Surety Provider receive notice from such CP Conduit Purchaser that such CP Conduit Purchaser is able to raise funds through the issuance of Commercial Paper.

CP Disruption Event has the meaning specified in the definition of "Non-Default Disruption Event" in this Section 1.01.

CP Disruption Event means the inability of a Lender, at any time,

CP Disruption Event means, at any time for any reason whatsoever, any Noteholder shall be unable to raise, or shall be precluded or prohibited from raising, funds through the issuance of commercial paper notes in the United States' commercial paper market at such time.

CP Disruption Event. The inability of MSFC at any time, whether as a result of a prohibition, a contractual restriction or any other event or circumstance whatsoever, to raise funds through the issuance of its commercial paper notes (whether or not constituting commercial paper notes issued to fund Purchases hereunder) in the United States commercial paper market.