DCAS Shortfall Clause Samples

The DCAS Shortfall clause defines the procedures and responsibilities when there is a deficit in the Daily Collateral Amount Settlement (DCAS) between parties. In practice, this clause outlines how shortfalls are identified, the timeframe for notification, and the steps required for the party responsible to remedy the shortfall, such as transferring additional collateral or making a payment. Its core function is to ensure that any discrepancies in collateral settlements are promptly addressed, thereby maintaining the integrity of the collateralization process and minimizing credit risk between parties.
DCAS Shortfall. The provisions of Sections 2.9 of the Senior Loan Agreement and all the related definitions in the Senior Loan Agreement (other than the definitions of those terms that are otherwise expressly defined herein), are hereby incorporated herein by reference as if fully set forth herein as of the date hereof, subject to modifications required by Section 1.2 hereof. III. REPRESENTATIONS AND WARRANTIES Borrower hereby reaffirms and ratifies all of the representations and warranties set forth in Article III of the Senior Loan Agreement with the same force and effect as if such representations -18- and warranties were set forth herein in their entirety, subject to modifications required by Section 1.2 hereof. IV.
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DCAS Shortfall. Administrative Agent, Lenders and Borrower each acknowledge that, pursuant to each of the Initial Capital Expenditure and TI Budget attached as Schedule IX to this Agreement, the parties anticipate following the investment of the Minimum Equity Requirement and the full disbursement of the Supplemental Loan Upsize (collectively, the “Additional Investments”), there will be a temporary cash flow shortfall during the buildout phase of the DCAS Lease due to the timing of the Tenant Reimbursement Funds (as reflected in months 18, 19, 20, 23 and 24 of the Budget attached hereto, the “Anticipated DCAS Shortfall”) that will require an infusion of capital in excess of the Additional Investments. Borrower hereby -68- acknowledges and agrees that it is the sole responsibility of Borrower to fund the Anticipated DCAS Shortfall.
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Related to DCAS Shortfall

  • Collateral Shortfalls In the event that amounts on deposit in the Collateral Fund at any time are insufficient to cover any withdrawals therefrom that the Company is then entitled to make hereunder, the Purchaser shall be obligated to pay such amounts to the Company immediately upon demand. Such obligation shall constitute a general corporate obligation of the Purchaser. The failure to pay such amounts within two Business Days of such demand (except for amounts to cover interest on a Mortgage Loan pursuant to Sections 2.02(d) and 2.03 (b)), shall cause an immediate termination of the Purchaser's right to make any Election to Delay Foreclosure or Election to Foreclose and the Company's obligations under this Agreement with respect to all Mortgage Loans to which such insufficiencies relate, without the necessity of any further notice or demand on the part of the Company.

  • Cash Shortages No employee may be required to make up cash register shortages unless he or she is given the privilege of checking the money and daily receipts upon starting and completing the work shift, and unless the employee has exclusive access to the cash register during the work shift and unless cash is balanced daily, except as specified below. No employee may be required to make up register shortages when Management exercises the right to open the register during the employee's work shift, unless the register is opened in the presence of the employee and the employee is given the opportunity to verify all withdrawals and/or deposits. No employee shall be held responsible for cash shortages unless he or she has exclusive access to his or her cash.

  • Finance Charge Each Receivable provides for the payment of a finance charge or shall yield interest calculated on the basis of an APR ranging from 0.50% to 22.05%.

  • Excess Finance Charge Collections Any amounts remaining in the Cap Proceeds Account, the Collection Account and the Payment Reserve Account, to the extent of any Available Series 1998-3 Finance Charge Collections remaining after giving effect to the withdrawals pursuant to subsection 4.9(a)(i) through (xii) of the Agreement, shall be treated as Excess Finance Charge Collections, and the Servicer shall direct the Trustee in writing on each Business Day to withdraw such amounts from the Collection Account and to first make such amounts available to pay to Securityholders of other Series to the extent of shortfalls, if any, in amounts payable to such Securityholders from Finance Charge Collections allocated to such other Series, then to pay any unpaid commercially reasonable costs and expenses of a Successor Servicer, if any, and then on each Business Day other than the Default Recognition Date, to pay to the Transferor to be treated as "Transferor Retained Finance Charge Collections," and, on each Default Recognition Date, to pay any remaining Excess Finance Charge Collections to the Transferor. Notwithstanding the foregoing, if on any Default Recognition Date the sum of the amount of Available Series 1998-3 Finance Charge Collections (including, all amounts on deposit in the Payment Reserve Account) and Transferor Retained Finance Charge Collections is less than the Series Default Amount for such Default Recognition Date, the Servicer shall apply amounts deposited in the Accumulation Period Reserve Account pursuant to subsection 4.9(a)(xi) of the Agreement and the Spread Account pursuant to subsection 4.9(a)(viii) of the Agreement during the then current Monthly Period in accordance with subsection 4.9(a)(iii) of the Agreement to the extent of such shortfall.

  • Shortfalls (i) If the amounts described in Section 2.3 are insufficient to pay the Class A Monthly Interest on any Distribution Date, payments of interest to the Class A Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “Class A Shortfall”. Interest shall accrue on the Class A Shortfall at the Class A Note Rate.