DEMAND NOTE PAYMENTS Clause Samples

DEMAND NOTE PAYMENTS. On each Settlement Date, the Borrower shall demand repayment by the Originator of Demand Loans outstanding under the Capital Associates Demand Note to the extent that on any Settlement Date there are insufficient Remarketing Proceeds available to pay the amount of Residual Interest due and payable on such Settlement Date in accordance with SECTION 4.01(d) and use the funds from such repayment from the Originator to pay such shortfalls. In addition, if within 90 days following the termination of a Lease, the Residual Advance made in connection with the Residual Lease Pool containing such Lease has not been reduced by an amount equal to the sum of the Individual Residual Borrowing Bases for such Lease and all other Leases in such Residual Lease Pool which have been terminated for more than 90 days (whether as a result of the application of Remarketing Proceeds arising from the Remarketed Equipment relating to such Lease or otherwise under SECTION 4.01(d)), the Borrower shall demand repayment by the Originator of amounts outstanding under the Capital Associates Demand Note in the amount necessary to reduce such Residual Advance by an amount equal to such Individual Residual Borrowing Base. Notwithstanding the foregoing, in no event shall the Borrower be required to demand repayment of the Demand Loans in an aggregate amount which would exceed the aggregate principal amount of the Residual Advances and Residual Interest thereon.