Additional Balance Sample Clauses
The 'Additional Balance' clause defines the circumstances under which extra funds, beyond the original principal or agreed amount, may be required or maintained in an account or transaction. Typically, this clause applies in financial agreements where fluctuating obligations, such as margin requirements or collateral, necessitate that a party deposit or maintain additional sums to cover potential exposures or shortfalls. For example, if the value of collateral decreases or if market conditions change, the party may be required to top up the balance to a specified level. The core function of this clause is to ensure that sufficient funds are always available to meet ongoing or future obligations, thereby reducing credit risk and protecting the interests of the counterparty.
Additional Balance. Subject to Section 2.01, in the event that Seller wishes an increase in the VFN Principal Balance, Seller shall deliver to Administrative Agent a copy of the VFN Note Balance Adjustment Request that is delivered under the Indenture. If all the Funding Conditions required pursuant to Section 5.02 hereof and the Indenture have been satisfied, then upon approval in writing by the Administrative Agent of such increase in the VFN Principal Balance (such increase, upon such approval, an “Additional Balance”), (i) the outstanding VFN Principal Balance set forth in the Asset Schedule hereof shall be automatically updated as set forth in the related Transaction Notice in accordance with Section 2.02 and (ii) if requested by Seller pursuant to Section 2.02, Administrative Agent shall thereupon deliver the Purchase Price set forth in Section 2.02(b), which Purchase Price shall equal the Buyer’s pro rata portion (based on the Buyer’s related Borrowing Capacity (as defined in the Indenture)) of the related aggregate purchase price of all Series 2020-SPIADVF1 Notes under all SPIADVF1 Repurchase Agreements.
Additional Balance. Subject to Section 2.01, in the event that Seller wishes an increase in the VFN Principal Balance, Seller shall deliver to Administrative Agent a copy of the VFN Note Balance Adjustment Request that is delivered under the Indenture. If all the Funding Conditions required pursuant to Section 5.02 hereof and the Indenture have been satisfied, then upon approval in writing by Administrative Agent of such increase in the VFN Principal Balance (such increase, upon such approval, an “Additional Balance”), the outstanding VFN Principal Balance set forth in the Asset Schedule hereof shall be automatically updated as set forth in the related Transaction Notice in accordance with Section 2.02.
Additional Balance. In the event that Seller wishes an increase in the VFN Principal Balance, Seller shall deliver to Buyer a copy of the VFN Note Balance Adjustment Request that is delivered under the Indenture. If all the Funding Conditions required pursuant to Section 5.02 hereof and the Indenture have been satisfied, then upon approval in writing by Buyer of such increase in the VFN Principal Balance (such increase, upon such approval, an “Additional Balance”), the outstanding VFN Principal Balance set forth in the Asset Schedule hereof shall be automatically updated as set forth in the related Transaction Notice in accordance with Section 2.02.
Additional Balance. As to any HELOC and day, the aggregate amount of all Draws conveyed to the Trust pursuant to Section 2.01(a).
Additional Balance. With respect to any Mortgage Loan, any future Draw made by the related Mortgagor pursuant to the related Loan Agreement after the Cut-off Date in the case of an Initial Loan, or after the Deposit Date in the case of an Additional Loan; provided, however, that if an Amortization -------- ------- Event occurs, then any Draw after such Amortization Event shall not be acquired by the Issuer and shall not be an Additional Balance. (Additional Loans: ---------------- All home equity line of credit loans sold by the Seller to the Issuer after the Closing Date pursuant to Section 2 of the Loan Purchase Agreement.)