Examples of Rating Agency Condition in a sentence
This Agreement may not be assigned by the Owner Trust Administrator unless such assignment is previously consented to in writing by the Issuer and the Owner Trustee and subject to the satisfaction of the Rating Agency Condition with respect to each Rating Agency in respect thereof.
If at any time the institution maintaining the Collection Account ceases to be an Eligible Institution or an Eligible Trust Account Institution, the Securities Intermediary and the Indenture Trustee will, or will cooperate with the Servicer to, as applicable, cause the Collection Account to be moved to an Eligible Institution or Eligible Trust Account Institution within forty-five (45) days (or such longer period in respect of which the Rating Agency Condition shall have been satisfied).
So long as any Notes are Outstanding, the Issuer shall not remove the Administrator unless the Rating Agency Condition shall have been satisfied with respect to each Rating Agency in connection with such removal and the Indenture Trustee receives written notice of the foregoing and consents thereto.
However, if the Rating Agency Condition is satisfied with respect to each Rating Agency, the Servicing Fee in respect of a Collection Period (together with any portion of the Servicing Fee that remains unpaid from prior Payment Dates) will be paid at the beginning of that Collection Period out of the collections of interest on the Receivables.