Annual Payments from Residual Receipts Sample Clauses

Annual Payments from Residual Receipts. Beginning June 1st of the year following payments in an amount equal to the WHDC Deferred Developer Fee, but in no event beginning later than June 1, 2031, the Borrower shall disburse to the County fifty percent (50%) of the Residual Receipts from the previous calendar year as an Annual Payment on the outstanding principal balance and accrued interest on this AHIF Note. Thereafter, no later than June 1st of each subsequent year during the Term, the Borrower shall disburse to the County fifty percent (50%) of the Residual Receipts from the previous calendar year as Annual Payments on the outstanding principal balance and accrued interest on this AHIF Note, and the remaining fifty percent (50%) of the Residual Receipts from the previous calendar year shall be released to the Borrower. Once all of the outstanding principal, accrued interest, and penalties and fees, if any, owed on this AHIF Note have been paid in full, the Borrower shall be entitled to retain one hundred percent (100%) of the Residual Receipts.
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Annual Payments from Residual Receipts. (i) Beginning June 1, 2020, the Borrower shall disburse to the County forty percent (40%) of the Residual Receipts from the previous calendar year as an Annual Payment on the outstanding principal balance and accrued interest on this AHIF Note. Thereafter, no later than June 1st of each subsequent year during the Term of the AHIF Loan the Borrower shall disburse to the County forty percent (40%) of the Residual Receipts from the previous calendar year as Annual Payments on the outstanding principal balance and accrued interest on this AHIF Note.
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Annual Payments from Residual Receipts. (i) Beginning the year immediately following the Borrower’s payment of all outstanding principal, accrued interest, and penalties and fees, if any, on the CDBG Loan pursuant to that certain CDBG Note, the Borrower shall disburse to the County sixty percent (60%) of the Residual Receipts from the previous calendar year as an Annual Payment on the outstanding principal balance and accrued interest on this AHIF Note. Thereafter, no later than June 1st of each subsequent year during the Term of the County Loans the Borrower shall disburse to the County sixty percent (60%) of the Residual Receipts from the previous calendar year as Annual Payments on the outstanding principal balance and accrued interest on this AHIF Note, and the remaining forty percent (40%) of the Residual Receipts from the previous calendar year shall be retained by the Borrower.
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Annual Payments from Residual Receipts. (i) Beginning June 1, 2016, the Borrower shall disburse to the County as an Annual Payment on the outstanding principal balance and accrued interest on this AHIF Note (A) Fifty Thousand and 00/100 Dollars ($50,000.00) from the Residual Receipts from the previous calendar year, and (B) fifty percent (50%) of any remaining Residual Receipts from the previous calendar year. Thereafter, no later than June 1st of each subsequent year during the Term of the AHIF Loan, the Borrower shall disburse to the County as an Annual Payment on the outstanding principal balance and accrued interest on this AHIF Note (C) Fifty Thousand and 00/100 Dollars ($50,000.00) from the Residual Receipts from the previous calendar year, and (D) fifty percent (50%) of any remaining Residual Receipts from the previous calendar year, and the remaining fifty percent (50%) of the Residual Receipts from the previous calendar year shall be retained by the Borrower.
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Annual Payments from Residual Receipts. On or before June 1, 2016, the Borrower shall disburse to the County _ percent ( %) of the Residual Receipts from the previous calendar year as an Annual Payment on the outstanding principal balance and accrued interest on this Amended and Restated Promissory Note. Thereafter, no later than June 1st of each subsequent year until AHC’s Deferred Development Fee has been paid in full, but in no event later than December 31st of the year of the completion of the Initial Tax Credit Compliance Period, percent ( %) of the Residual Receipts from the previous calendar year shall be paid by the Borrower to the County in arrears as Annual Payments on the outstanding principal balance and accrued interest on this Amended and Restated Promissory Note, and the remaining percent ( %) of the Residual Receipts from the previous calendar year shall be released to the Borrower. Beginning June 1st of the first year following payoff of AHC’s Deferred Development Fee, but in no event later than June 1st of the first year following completion of the Initial Tax Credit Compliance Period, the Borrower shall disburse to the County percent ( %) of the Residual Receipts from the previous calendar year as an Annual Payment on the outstanding principal balance and accrued interest on of this Amended and Restated Promissory Note. Thereafter, no later than June 1st of each subsequent year through the end of the Term, the Borrower shall disburse to the County percent ( %) of the Residual Receipts from the previous calendar year as Annual Payments on the outstanding principal balance and accrued interest on this Amended and Restated Promissory Note, and the remaining released to the Borrower. percent ( %) of the Residual Receipts from the previous calendar year shall be No later than May 1st of each year, beginning no later than May 1, 2016, Borrower shall provide to the County Manager or her designee the Borrower’s calculation of Residual Receipts for the previous calendar year, accompanied by (i) an audited statement duly certified by an independent firm of certified public accountants that are nationally recognized, setting forth in reasonable detail the computation and total amount of all Residual Receipts (as defined in the Amended and Restated CDBG Subrecipient and AHIF Loan Agreement) during the preceding calendar year, and (ii) an independent audit prepared for the Property by a certified independent firm of certified public accountants that are nationally recognized, in accordance...
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Annual Payments from Residual Receipts. Exhibit D FORM OF CDBG NOTE
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Annual Payments from Residual Receipts 
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Related to Annual Payments from Residual Receipts

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  • Collection and Allocation of Receivable Payments The Servicer shall make reasonable efforts to collect all payments called for under the Receivables as and when the same shall become due and shall follow its Servicing Procedures. The Servicer shall allocate collections between principal and interest in accordance with its Servicing Procedures. Without limiting the generality of the preceding or Section 4.1, the Servicer may grant extensions, rebates, refunds, deferrals, amendments, modifications or adjustments on a Receivable (regardless of whether or not the Receivable is a 180-Day Receivable, subject only to the following proviso) in accordance with its Servicing Procedures; provided, however, that if a Receivable is not a 180-Day Receivable and the Servicer (i) extends the date for final payment by the Obligor of any Receivable beyond the Final Scheduled Maturity Date or (ii) reduces the APR of a Receivable or reduces the aggregate amount of the Scheduled Payments due on any Receivable other than as required by applicable law (including the order of a court of competent jurisdiction), the Servicer may make such modifications to a Receivable but it shall promptly purchase the Receivable from the Issuing Entity in accordance with Section 4.6 (a “Modification Purchase Event”); provided, further, that the Servicer shall not make a modification described in the preceding clause (i) or (ii) that would trigger a Modification Purchase Event for the sole purpose of purchasing a Receivable from the Issuing Entity. The Servicer may, in accordance with its Servicing Procedures, waive any late payment charge or any other fees that may be collected in the ordinary course of servicing a Receivable. Subject to the proviso of the third sentence of this Section 4.2, the Servicer and its Affiliates may engage in any marketing practice or promotion or any sale of any products, goods or services to Obligors with respect to the Receivables so long as such practices, promotions or sales are offered to obligors of comparable equipment receivables serviced by the Servicer for itself or others, whether or not such practices, promotions or sales might result in a decrease in the aggregate amount of payments on the Receivables, prepayments or faster or slower timing of the payment of the Receivables. The Servicer and its Affiliates may also sell insurance or debt cancellation products, including products which result in the cancellation of some or all of the amount of a Receivable upon the death or disability of an Obligor or any casualty with respect to the Financed Equipment. Notwithstanding anything in this Agreement to the contrary, the Servicer and its Affiliates may refinance any Receivable and deposit an amount equal to the Purchase Amount for such Receivable into the Collection Account. The receivable created by such refinancing shall not be property of the Issuing Entity, and related Financed Equipment and any part of the Receivables Files and other CNHCR Assets related to such Receivable shall be released to the Servicer or its Affiliate and shall no longer be subject to the terms hereof or the Indenture; provided further, that any security interests in favor of the Issuing Entity or the Indenture Trustee hereunder or under the Indenture in the related Financed Equipment and any other CNHCR Assets related to such Receivable shall be deemed released upon such deposit. The parties hereto intend that the Servicer and its Affiliates will not refinance a Receivable pursuant to this Section 4.2 in order to provide direct or indirect assurance to the Depositor, the Indenture Trustee, the Trustee, the Noteholders, or the Certificateholder, as applicable, against loss by reason of the bankruptcy or insolvency (or other credit condition) of, or default by, the Obligor on, or the uncollectability of, any Receivable.

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