Deficit Loan Sample Clauses

Deficit Loan. If the Partnership incurs a cash deficit of any kind, then any Partner shall have the right, but not the obligation, to extend a loan ("Deficit Loan") to the Partnership in the amount of such cash deficit. Each Deficit Loan shall bear interest at a variable rate of interest per annum equal to the Permitted Rate and shall be repayable as soon as the Partnership has funds available therefor. No distributions shall be made to the Partners pursuant to Section 9.01 hereof at any time during which any Deficit Loan remains outstanding.
Sample 1
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Deficit Loan. Fund the Cash Deficit to the Company as a loan (a “Deficit Loan”) from the Contributing Member to the Non-Contributing Member and a capital contribution by the Non-Contributing Member to the Company. No such funding of a Deficit Loan shall constitute a cure of the Non-Contributing Member’s failure to fund amounts required of it pursuant to this Agreement. Each Deficit Loan shall bear interest, compounded monthly, at the lesser of the then applicable Preferred Return Rate for the Contributing Member, or the maximum rate then permitted by law for such loans, and shall be due and payable upon demand, but in any event, six (6) months following the date of funding. Until such Deficit Loan is paid in full, the Non-Contributing Member and its Affiliates shall draw no further distributions from the Company or receive any other fees or payments of any kind from the Company and although all such fees or payments payable to the Non-Contributing Member or its Affiliates and Cash Flow distributable with respect to the Membership Interest of the Non-Contributing Member shall be deemed to be paid or distributed to the Non-Contributing Member and its Affiliates for Company tax and accounting purposes, such fees, payments and Cash Flow shall be paid or distributed to the Contributing Member as a reduction of the amount of such Deficit Loan, with such funds being applied first to reduce any interest accrued on such Deficit Loan and then to reduce the principal amount of such Deficit Loan.
Sample 1
Deficit Loan. If the Partnership incurs a cash deficit of any kind, then any Partner shall have the right, but not the obligation, to extend a loan ("Deficit Loan") to the Partnership in the amount of such cash deficit. If any such cash deficit should occur, the Managing Partner shall provide notice thereof to both Partners as to the amount of such cash deficit. If both Partners elect to extend a Deficit Loan to the Partnership, then each shall fund its Percentage Interest of such cash deficit. If one of the Partners elects not to extend a Deficit Loan in the amount of its Percentage Interest of such cash deficit, then the other Partner shall have the right to extend a Deficit Loan up to the full amount of such cash deficit. Each Deficit Loan shall bear interest at a variable rate of interest per annum equal to the Permitted Rate and shall be repayable as soon as the Partnership has funds available therefor. No distributions shall be made to the Partners pursuant to Section 9.01 hereof at any time during which any Deficit Loan remains outstanding. The provisions of this Section 6.03 shall not negate, affect, limit, alter or otherwise change the obligations of the Partners to make capital contributions for Qualified Operational Shortfalls in accordance with the provisions of Section 5.04 hereof.
Sample 1

Related to Deficit Loan

  • Application of Available Finance Charge Collections and Available Principal Collections On or before each Transfer Date, the Servicer shall instruct the Indenture Trustee in writing (which writing shall be substantially in the form of Exhibit B) to withdraw and the Indenture Trustee, acting in accordance with such instructions, shall withdraw on such Transfer Date or related Distribution Date, as applicable, to the extent of available funds, the amount required to be withdrawn from the Finance Charge Account, the Principal Account, the Principal Accumulation Account and the Distribution Account as follows:

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.

  • Excess Spread; Excess Finance Charge Collections The Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee, on each Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 1997-1 with respect to the related Monthly Period, to make the following distributions or deposits in the following order of priority:

  • Shared Principal Collections Subject to Section 4.04 of the Agreement, Shared Principal Collections for any Distribution Date will be allocated to Series 2019-3 in an amount equal to the product of (x) the aggregate amount of Shared Principal Collections with respect to all Principal Sharing Series for such Distribution Date and (y) a fraction, the numerator of which is the Series 2019-3 Principal Shortfall for such Distribution Date and the denominator of which is the aggregate amount of Principal Shortfalls for all the Series which are Principal Sharing Series for such Distribution Date. The “Series 2019-3 Principal Shortfall” will be equal to (a) for any Distribution Date with respect to the Revolving Period, zero, (b) for any Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount with respect to such Distribution Date over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections), and (c) for any Distribution Date with respect to the Early Amortization Period, the excess, if any, of the Invested Amount over the amount of Available Principal Collections for such Distribution Date (excluding any portion thereof attributable to Shared Principal Collections).

  • Prepayment of the Loan The Company may from time to time prepay all or any portion of the Loan without premium or penalty of any type. The Company shall give the Lender at least three Business Day prior written notice of its intention to prepay the Loan, specifying the date of payment and the total amount of the Loan to be paid on such date.

  • Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls In the event of any Prepayment Interest Shortfalls, the Master Servicer shall deposit into the Distribution Account not later than the related Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments in full on the Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the aggregate amount of the compensation payable to the Master Servicer for such Distribution Date in accordance with Section 4.13, without reimbursement therefor.

  • Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls The Master Servicer shall deliver to the Trustee for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Master Servicer Remittance Date from its own funds an amount equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting solely from Principal Prepayments during the related Prepayment Period and (ii) the amount of its aggregate Servicing Fee for the most recently ended calendar month.

  • Reallocated Principal Collections On each Distribution Date, the Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee substantially in the form of Exhibit B, Reallocated Principal Collections with respect to such Distribution Date, to make the following distributions or deposits in the following order of priority:

  • Reallocated Investor Finance Charge Collections (a) That portion of Group I Investor Finance Charge Collections for any Transfer Date equal to the amount of Reallocated Investor Finance Charge Collections for such Transfer Date will be allocated to Series 1997-1 and will be distributed as set forth in this Supplement.

  • Funding Loss 26 3.19 Foreign Lenders, Participants, and Assignees...................................................26

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