CASHFLOW ALLOCATION METHODOLOGY Clause Samples
The Cashflow Allocation Methodology clause defines how incoming and outgoing cash flows are distributed among parties involved in a transaction or agreement. It typically outlines the order of priority for payments, such as covering operating expenses first, then servicing debt, and finally distributing remaining funds to equity holders or other stakeholders. This clause ensures transparency and predictability in financial arrangements by clearly specifying the sequence and rules for allocating cash, thereby reducing disputes and aligning expectations among all parties.
CASHFLOW ALLOCATION METHODOLOGY. Collections in relation to a Trust and other amounts credited to the Collection Account for a Trust will be allocated by the Trust Manager on behalf of the Trustee, and paid by the Trustee as directed by the Trust Manager, in accordance with the Series Notice for that Trust.
CASHFLOW ALLOCATION METHODOLOGY. 5.1 Total Available Funds
(a) (Monthly) Subject to paragraph (b), on each Monthly Payment Date (other than a Quarterly Payment Date) and based on the calculations, instructions and directions provided to it by the Manager, the Trustee must pay out of Total Available Funds, in relation to the Monthly Collection Period ending immediately before that Monthly Payment Date, the following amounts in the following order of priority:
(i) first, an amount equal to any Accrued Interest Adjustment required to be paid to the Approved Seller (and each of the Trustee, the Noteholders and the other Creditors that have the benefit of the Security Trust Deed acknowledges and agrees that it has no entitlement to the moneys comprising the Accrued Interest Adjustment) provided that the total amount of Accrued Interest Adjustments with respect to any Quarterly Collection Period (other than the Quarterly Collection Period ending on 15 November 2000) shall not exceed an amount equal to 0.15% multiplied by the aggregate Housing Loan Principal of the Purchased Receivables on the first day of that Quarterly Collection Period multiplied by the actual number of days in that Quarterly Collection Period divided by 365;
(ii) second, repayment to the Mortgage Insurer of any payment in the nature of income received from an Obligor for which the Mortgage Insurer previously paid under the relevant Mortgage Insurance Policy by way of timely payment cover;
(iii) third, any interest payable by the Trustee under the Redraw Facility Agreement; and
(iv) fourth, any repayment of a Liquidity Draw made on or prior to the previous Monthly Payment Date.
(b) (Limit) The Trustee shall only make a payment under any of sub-paragraphs (a)(i) to (a)(iv) inclusive if it is directed in writing to do so by the Manager and only to the extent that any Total Available Funds remain from which to make the payment after amounts with priority to that payment have been distributed.
(c) (Quarterly) Subject to paragraph (d), on each Quarterly Payment Date, and based on the calculations, instructions and directions -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Page 31 Supplementary Terms Notice ▇▇▇▇▇ ▇▇▇▇▇ & ▇▇▇▇▇▇▇ -------------------------------------------------------------------------------- provided to it by the Manager, the Trustee must pay or cause to be paid out of Total Available Funds, in relation...
CASHFLOW ALLOCATION METHODOLOGY