Collection and Transfer of Payments Sample Clauses

Collection and Transfer of Payments. A. The Lender, as servicer of the Loan, shall be obligated to collect, as the Rural Center’s trustee with respect to the Rural Center's pro rata share thereof, all payments of interest and principal due and payable on the Loan, together with any charges, fees, costs, expenses and any and all other amounts due on or in connection with the Loan Documents, including without limitation all Servicing Expenses incurred by Lender. If the Lender receives, collects or applies in full an interest payment with respect to a Loan, the Lender will remit to the Rural Center its pro rata share. If the Lender receives, collects or applies only a partial payment of interest with respect to a Loan, unless the Rural Center has subordinated with respect to payment, the Lender will remit to the Rural Center interest on the Participation Amount of such Loan at a rate equal to the amount due the Rural Center under the preceding sentence multiplied by the Participation Percentage. If the Lender receives, collects or applies a principal payment or prepayment with respect to a Loan, the Lender will remit to the Rural Center its pro rata share of such amount. Unless the Lender is otherwise entitled to apply payments as provided in Section 9 hereof, the Lender shall promptly remit the Rural Center’s share of payments on account of principal and interest to the Rural Center within five (5) business days of receipt or five (5) business days of the end of each month if the Rural Center has more than one Participation.
Sample 1Sample 2
AutoNDA by SimpleDocs
Collection and Transfer of Payments. A. The Lender, as servicer of the Loan, shall be obligated to collect, as the Authority’s trustee with respect to the Authority’s pro rata share thereof, all payments of interest and principal due and payable on the Loan, together with any charges, fees, costs, expenses and any and all other amounts due on or in connection with the Loan Documents, including without limitation all Servicing Expenses incurred by Lender. If the Lender receives, collects or applies in full an interest payment with respect to a Loan, the Lender will remit to the Authority interest on the Participation Amount at a rate equal to the Authority Rate. If the Lender receives, collects or applies only a partial payment of interest with respect to a Loan, the Lender will remit to the Authority interest on the Participation Amount of such Loan at a rate equal to the amount due the Authority under the preceding sentence multiplied by a fraction, the numerator of which is the amount of interest then received, collected or applied by the Lender from the Borrower and the denominator of which is the total amount of interest then due by the Borrower to the Lender. If the Lender receives, collects or applies a principal payment or prepayment with respect to a Loan, the Lender will remit to the Authority its pro rata share of such amount. Unless the Lender is otherwise entitled to apply payments as provided in Section 9 hereof, the Lender shall promptly remit the Authority’s share of payments on account of principal and interest to the Authority within fifteen (15) business days of receipt.
Sample 1
Collection and Transfer of Payments. The Lender, as servicer of the Loan, shall be obligated to collect, as the GHFA EDFI’s trustee with respect to the GHFA EDFI's pro rata share thereof, all payments of interest and principal due and payable on the Loan, together with any charges, fees, costs, expenses and any and all other amounts due on or in connection with the Loan Documents, including without limitation all Servicing Expenses incurred by Lender. If the Lender receives, collects or applies in full an interest payment with respect to a Loan, the Lender will remit to the GHFA EDFI its pro rata share. If the Lender receives, collects or applies only a partial payment of interest with respect to a Loan, unless the GHFA EDFI has subordinated with respect to payment, the Lender will remit to the GHFA EDFI interest on the Participation Amount of such Loan at a rate equal to the amount due the GHFA EDFI under the preceding sentence multiplied by the Participation Percentage. If the Lender receives, collects or applies a principal payment or prepayment with respect to a Loan, the Lender will remit to the GHFA EDFI its pro rata share of such amount. Unless the Lender is otherwise entitled to apply payments as provided in Section 4.18 hereof, the Lender shall promptly remit the GHFA EDFI’s share of payments on account of principal and interest to the GHFA EDFI within five (5) business days of receipt or five (5) business days of the end of each month if the GHFA EDFI has more than one Participation. Payments are to be made by ACH transfer from the Lender’s account. Payments must be coordinated with the GHFA EDFI’s loan servicing representative in the GHFA EDFI Accounting Office. A Monthly Report/Payment Distribution Summary and Transmittal must be completed and submitted with each and every payment remitted to the GHFA EDFI. If the GHFA EDFI has more than one Participation Loan with the Lender, the Lender may make one ACH transfer combining payments into one remittance. The Monthly Report/Payment Distribution Summary and Transmittal shall disclose information, including but not limited to, the date the Lender received payment from or on behalf of each Borrower, the manner in which the Lender apportioned said payment between interest and principal between the Lender and the GHFA EDFI, and the outstanding balance of the Loan. In the event that a Borrower fails to remit a scheduled payment to the Lender, the Lender, nevertheless, must submit the Monthly Report/Payment Distribution Summary and Transmit...
Sample 1
Collection and Transfer of Payments. 6.1.1 The Lender, as servicer of the Loan, shall be obligated to collect, as USBGI’s trustee with respect to USBGI's interest in the Loan, all payments of interest and principal due and payable on the Loan, together with any charges, fees, costs, expenses and any and all other amounts due on or in connection with the Loan Documents, including without limitation all Servicing Expenses incurred by Lender. If the Lender receives, collects or applies in full an interest payment with respect to a Loan, the Lender will remit to USBGI its pro rata share for a Participation and for a Loan on which a Guarantee is issued if USBGI has paid on the Guarantee. If the Lender receives, collects or applies only a partial payment of interest with respect to a Loan, unless USBGI has subordinated with respect to payment, the Lender will remit to USBGI interest on the Participation Amount of such Loan at a rate equal to the amount due USBGI under the preceding sentence multiplied by the Participation Percentage. If the Lender receives, collects or applies a principal payment or prepayment with respect to a Loan, the Lender will remit to USBGI its pro rata share of such amount. Unless the Lender is otherwise entitled to apply payments as provided herein, the Lender shall promptly remit USBGI’s share of payments on account of principal and interest to USBGI within five (5) business days of receipt or five (5) business days of the end of each month if USBGI has more than one Participation.
Sample 1

Related to Collection and Transfer of Payments

  • Transfer of Payments 1. Each Contracting Party shall guarantee to investors of the other Contracting Party, after fulfillment of all tax obligations, a free transfer abroad of payments in connection with the investments, and in particular:

  • Payment and Transfer of Interest Buyer shall pay interest on cash held as Performance Assurance, at the Interest Rate and on the Interest Payment Date. Buyer will transfer to Seller all accrued Interest Amount on the unused cash Performance Assurance in the form of cash by wire transfer to the bank account specified under “Wire Transfer” in Appendix X (Notices).

  • Payments and Transfers 1. Except under the circumstances envisaged in Article 9.2, a Party shall not apply restrictions on international transfers and payments for current transactions with another Party.

  • Repatriation and Transfer 1. Upon fulfillment of all tax obligations, each Contracting Party shall permit in good faith all transfers related to an investment to be made freely and without delay into and out of its territory. Such transfers include:

  • ALLOCATION OF PAYMENTS The Assignor and the Assignee agree that (i) the Assignor shall be entitled to any payments of principal with respect to the Assigned Interest made prior to the Assignment Date, together with any interest and fees with respect to the Assigned Interest accrued prior to the Assignment Date, (ii) the Assignee shall be entitled to any payments of principal with respect to the Assigned Interest made from and after the Assignment Date, together with any and all interest and fees with respect to the Assigned Interest accruing from and after the Assignment Date, and (iii) the Agent is authorized and instructed to allocate payments received by it for account of the Assignor and the Assignee as provided in the foregoing clauses. Each party hereto agrees that it will hold any interest, fees or other amounts that it may receive to which the other party hereto shall be entitled pursuant to the preceding sentence for account of such other party and pay, in like money and funds, any such amounts that it may receive to such other party promptly upon receipt.

  • Payment and Transfer Unless otherwise mutually agreed, all transfers of funds hereunder shall be in immediately available funds. All Securities transferred by one party hereto to the other party (i) shall be in suitable form for transfer or shall be accompanied by duly executed instruments of transfer or assignment in blank and such other documentation as the party receiving possession may reasonably request, (ii) shall be transferred on the book-entry system of a Federal Reserve Bank, or (iii) shall be transferred by any other method mutually acceptable to Seller and Buyer.

  • Assignments and Transfers No Party may assign any of its rights and benefits or transfer any of its rights, benefits and obligations in respect of any Debt Documents or the Liabilities except as permitted by this Clause 19.

  • Assignment and Transfers Except as the Committee may otherwise permit pursuant to the Plan, the rights and interests of the Participant under this Agreement may not be sold, assigned, encumbered or otherwise transferred except, in the event of the death of the Participant, by will or by the laws of descent and distribution. In the event of any attempt by the Participant to alienate, assign, pledge, hypothecate, or otherwise dispose of the Stock Units or any right hereunder, except as provided for in this Agreement, or in the event of the levy or any attachment, execution or similar process upon the rights or interests hereby conferred, the Company may terminate the Stock Units by notice to the Participant, and the Stock Units and all rights hereunder shall thereupon become null and void. The rights and protections of the Company hereunder shall extend to any successors or assigns of the Company and to the Company’s parents, subsidiaries, and affiliates. This Agreement may be assigned by the Company without the Participant’s consent.

  • Manner of Payment All payments due under this Agreement shall be in lawful money of the United States of America in immediately available funds as each party hereto may specify to the other parties; provided, that in the event the Receiver or the Corporation is obligated to make any payment hereunder in the amount of $25,000.00 or less, such payment may be made by check.

  • Transfers of Notes In the event that the holder of any Note (including any Lender) shall transfer such Note, it shall immediately advise Administrative Agent and Company of such transfer, and Administrative Agent and Company shall be entitled conclusively to assume that no transfer of any Note has been made by any holder (including any Lender) unless and until Administrative Agent and Company shall have received written notice to the contrary. Except as otherwise provided in this Agreement or as otherwise expressly agreed in writing by all of the other parties hereto, no Lender shall, by reason of the transfer of a Note or otherwise, be relieved of any of its obligations hereunder and any such transfer shall be in accordance with the terms hereof and the other Loan Documents. Each transferee of any Note shall take such Note subject to the provisions of this Agreement and to any request made, waiver or consent given or other action taken hereunder, prior to the receipt by Administrative Agent and Company of written notice of such transfer, by each previous holder of such Note, and, except as expressly otherwise provided in such transfer, Administrative Agent and Company shall be entitled conclusively to assume that the transferee named in such notice shall hereafter be vested with all rights and powers under this Agreement with respect to the Pro Rata Share of the Loans of the Lender named as the payee of the Note which is the subject of such transfer.

Time is Money Join Law Insider Premium to draft better contracts faster.