Component Balance Sample Clauses
The Component Balance clause defines how the remaining value or quantity of specific components is determined and managed within a contract. Typically, this clause outlines the method for calculating the balance of goods, materials, or services that have been delivered versus what remains under the agreement, often referencing delivery schedules or usage reports. Its core practical function is to ensure both parties have a clear and agreed-upon understanding of outstanding obligations, thereby reducing disputes over fulfillment and payment.
Component Balance. As to any Component prior to the initial Distribution Date for the related Series, the original principal or notional principal balance of such Component; and as to any such Component subsequent to such initial Distribution Date, such original principal or notional principal balance multiplied by the then applicable Component Factor.
Component Balance. If the Variable Loan Group of the R-2-E Interest that receives such payment has a Group Net Rate Cap below the Group Net Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 as a Realized Loss. Conversely, if the Variable Loan Group of the R-2- E Interest that receives such payment has a Group Net Rate Cap above the Group Net Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 as a reimbursement for prior Realized Losses.
Component Balance. With respect to any Component (other than a Notional Amount Component) and any Distribution Date, its Initial Component Balance (A) plus any Subsequent Recoveries added to the Component Balance of such Component pursuant to Section 4.02, (B) minus the sum of all amounts applied in reduction of the principal balance of such Component and Realized Losses allocated thereto and increased due to the receipt of Subsequent Recoveries.
Component Balance. Not Applicable. Component Certificates: Not Applicable.