Defaulted Accounts Clause Samples

Defaulted Accounts. Other than as permitted under the Receivables Purchase Agreement, the Servicer shall not sell, assign, convey or otherwise transfer Underlying Receivables related to any Defaulted Account or an interest therein to any of its Subsidiaries or Affiliates without the prior written consent of the Administrative Agent.
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Defaulted Accounts. From and after the day on which an Account becomes a Defaulted Account and while it continues as a Defaulted Account and has not been removed pursuant to Section 2.7, all Receivables balances owing under each such Defaulted Account shall be included in the Defaulted Amount and excluded in the calculation of the Pool Balance. Each existing Ownership Interest shall, however, continue to constitute an undivided co-ownership interest in all amounts owing as Receivables under each such Account while it is a Defaulted Account and all payments received as Recoveries in respect of amounts owing under each such Account shall be applied, without distinction, as Collections hereunder.
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Defaulted Accounts. On each Determination Date, the ------------------ Servicer shall calculate the Investor Default Amount for the preceding Monthly Period and the Total Deficiency Amount for the related Distribution Date. If on such date the Total Deficiency Amount exceeds zero (such deficiency, the "Shortfall"), the Class C Investor Amount will be reduced by the lesser of (i) the sum of (x) the Investor Default Amount and (y) the applicable Series Share of the amount of any unpaid Deposit Obligation in respect of the preceding Monthly Period and (ii) such Shortfall (together with any amount allocated to the Class C Investor Amount in accordance with the last sentence of Section 4.11, a "Class C Investor Charge Off"). In the event that such reduction would cause the Class C Investor Amount to be a negative number, the Class C Investor Amount shall be zero, and the Class B Investor Amount will be reduced by an amount equal to the excess of such reduction over the Class C Investor Amount prior to the reduction (a "Class B Investor Charge Off"). In the event that such reduction would cause the Class B Investor Amount to be a negative number, the Class B Investor Amount shall be zero, and the Class A Investor Amount will be reduced by an amount equal to the excess of such reduction over the sum of the Class B Investor Amount and the Class C Investor Amount prior to such reduction (a "Class A Investor Charge Off").
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Defaulted Accounts. If you have unpaid fines and costs that have defaulted and want to enter into a payment agreement to remove the suspension of your driving privileges, you may fill out form DC-211 Petition for Payment
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Defaulted Accounts. The Obligor of each Proposed Eligible Account and each Purchased Account has not been the Obligor of any Defaulted Accounts in the past 12 months (other than, for the purpose of this clause, as a result of good faith disputes).
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Defaulted Accounts. 52 Section 4.5 Monthly Payments..................................................52 Section 4.6 Payment of Certificate Interest with respect to each Series....
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Defaulted Accounts. If you have unpaid fines and costs that have defaulted and want to enter into a payment agreement, you may fill out form DC-211 Petition for Payment Agreement for
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Defaulted Accounts. (a) On each Determination Date, the Servicer shall calculate with respect to each Series the Investor Default Amount for such Series, if any, for the Monthly Period next preceding such Determination Date. (b) If on any Transfer Date the Investor Default Amount with respect to any Series for the Monthly Period next preceding such Transfer Date exceeds the sum of (a) such Series' Finance Charge Collections remaining after giving effect to the withdrawal pursuant to subsection 4.5(a) on such Transfer Date plus (b) (i) the Available L/C Amount, if any, for the Letter of Credit relating to such Series as of the last day of the preceding month minus (ii) the amount of drawings, if any, made or to be made pursuant to subsection 4.5(a) under such Letter of Credit on the Drawing Date occurring during the Monthly Period in which such Determination Date occurs, the Investor Amount for such Series shall be reduced by the amount of such excess (an "Investor Charge Off"). Investor Charge Offs may be reimbursed only pursuant to subsection 4.5(c).
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Related to Defaulted Accounts

  • Defaulted Amounts If the Company fails to pay any amount (a “Defaulted Amount”) payable on a Note on or before the due date therefor as provided in this Indenture, then, regardless of whether such failure constitutes an Event of Default, (i) such Defaulted Amount will forthwith cease to be payable to the Holder of such Note otherwise entitled to such payment; (ii) to the extent lawful, interest (“Default Interest”) will accrue on such Defaulted Amount at a rate per annum equal to the rate per annum at which Stated Interest accrues, from, and including, such due date to, but excluding, the date of payment of such Defaulted Amount and Default Interest; (iii) such Defaulted Amount and Default Interest will be paid on a payment date selected by the Company to the Holder of such Note as of the Close of Business on a special record date selected by the Company, provided that such special record date must be no more than fifteen (15), nor less than ten (10), calendar days before such payment date; and (iv) at least fifteen (15) calendar days before such special record date, the Company will send notice to the Trustee and the Holders that states such special record date, such payment date and the amount of such Defaulted Amount and Default Interest to be paid on such payment date.

  • Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.

  • Designated Account Agent is authorized to make the Revolving Loans, and Issuing Bank is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to Section 2.6(d). Borrowers agree to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Revolving Loans requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Borrowers, any Revolving Loan or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

  • Deposits to Collection Account The Servicer shall use its best efforts to deposit or cause to be deposited (without duplication), within two (2) Business Days after receipt thereof, into the Collection Account and retain therein in trust for the benefit of the Grantor Trust Holder: (i) all payments on account of principal and interest on the Home Loans collected after the Cut-Off Date, including any amounts required to be deposited in the Collection Account pursuant to Section 2.07(b)(vii)(B)(IV) of the Grantor Trust Agreement; (ii) all Net Liquidation Proceeds pursuant to Section 4.11 hereof; (iii) all Insurance Proceeds; (iv) all Released Mortgaged Property Proceeds; (v) any amounts payable in connection with the repurchase of any Home Loan and the amount of any Substitution Adjustment pursuant to Section 2.06 of the Grantor Trust Agreement and Section 3.05 hereof; (vi) the deposit of the Termination Price under Section 11.01 hereof; (vii) any amount to be deposited from the Pre-Funding Account or the Capitalized Interest Account; and (viii) interest and gains on funds held in the Collection Account. The Servicer shall be entitled to retain and not deposit into the Collection Account any amounts received with respect to a Home Loan that constitute additional servicing compensation pursuant to Section 7.03 hereof, and such amounts retained by the Servicer during a Due Period shall be excluded from the calculation of the Servicing Compensation that is distributable to the Servicer from the Note Payment Account on the next Payment Date following such Due Period.

  • Collections Received Each of the SPV and the Master Servicer shall hold in trust, and deposit, immediately, but in any event not later than one Business Day of its receipt thereof, to a Blocked Account or, if required by Section 2.9, to the Collection Account, all Collections received by it from time to time.