Common use of Buydown Amount Clause in Contracts

Buydown Amount. The Buydown Amount shall be held as unsegregated cash margin and collateral for all Obligations under this Agreement. To the extent the Minimum Buydown Threshold is met, such amount shall accrue interest at the Operating Account Rate. In no event shall interest accrue on (i) amounts in excess of the Minimum Buydown Threshold or (ii) to the extent the Buydown Amount is less than the Minimum Buydown Threshold. Without limiting the generality of the foregoing, in the event that a Margin Call or other Default or an Event of Default exists, the Buyer shall be entitled to use any or all of the Buydown Amount and to withdraw such amount from the Operating Account in Buyer’s sole discretion to cure such circumstance or otherwise exercise remedies available to the Buyer without prior notice to, or consent from, Seller. Regardless of whether a Margin Call or other Default or an Event of Default exists, Buyer also may withdraw interest paid to the Operating Account in its discretion from time to time, and without prior notice to or consent from the Seller, as a full or partial off-set to Seller’s obligation hereunder to pay the Price Differential. Within [***] receipt of written request from Seller, and provided no Margin Call or other Default or an Event of Default exists, Buyer shall withdraw any portion of such Buydown Amount from the Operating Account and promptly remit such amount back to Seller.