Excess Yield Sample Clauses

Excess Yield. In the event that Seller has conveyed or advanced any “excess yield” to FNMA or FHLMC (whether pursuant to any Excess Servicing Rights Agreement or otherwise), Seller shall have no right to reimbursement in respect thereof from Purchaser.
Sample 1Sample 2
AutoNDA by SimpleDocs
Excess Yield. Notwithstanding any provisions to the contrary contained in this Agreement or any other Operative Agreement, Lessee shall not be required to pay, and the Lessor Parties shall not be permitted to collect, any amount of Lessor Yield in excess of the maximum amount of yield permitted by applicable Law (“Excess Yield”). If any Excess Yield is provided for or determined by a court of competent jurisdiction to have been provided for in this Agreement or in any other Operative Agreement, then, in such event: (1) the provisions of this subsection shall govern and control; (2) Lessee shall not be obligated to pay any Excess Yield; (3) any Excess Yield that the Lessor Parties may have received hereunder shall be, at the option of the Majority Secured Parties, (a) applied as a credit against the outstanding principal balance of the Obligations or accrued and unpaid Lessor Yield (not to exceed the maximum amount permitted by Law), (b) refunded to the payor thereof, or (c) any combination of the foregoing; (4) the yield rates provided for herein or in the other Operative Agreements shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable Law, and this Agreement and the other Operative Agreements shall be deemed to have been and shall be reformed and modified to reflect such reduction; and (5) Lessee shall not have any action against the Agent or any Lessor Party for any damages arising out of the payment or collection of any Excess Yield (other than to enforce this Section 5A.10).
Sample 1
Excess Yield. 40 Section 7.26 Subsequent Transfer of Mortgage Servicing Rights 40 Section 7.27 Joint Marketing 40 Section 7.28 Credit Enhancements 41 Section 7.29 Compensatory Fee Payment 41 ARTICLE VIII CONDITIONS PRECEDENT TO OBLIGATIONS OF PURCHASER 41 Section 8.01 Correctness of Representations and Warranties. 41 Section 8.02 Compliance with Conditions. 42 Section 8.03 No Actions. 42 Section 8.04 Consents. 42 Section 8.05 Tri-Party Agreements. 42 Section 8.06 Certificate of Seller. 42 Section 8.07 Delivery of Documents. 42 ARTICLE IX CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLER 43 Section 9.01 Correctness of Representations and Warranties. 43
Sample 1
Excess Yield. In the event that Seller has conveyed or advanced any “excess yield” to any Agency (whether pursuant to any Excess Servicing Rights Agreement or otherwise), Seller shall have no right to reimbursement in respect thereof from Purchaser.
Sample 1
Excess Yield. Notwithstanding any other provisions of this Agreement, (i) the sale and delivery of the Loans to the Initial Purchaser is exclusive of the Excess Yield Holder's right, title and interest in, to, and under the Excess Yield and (ii) subject to Subsection 11.16 of the Servicing Addendum, the right of the Excess Yield Holder to the Excess Yield with respect to each Loan shall be absolute and unconditional, and shall survive any Event of Default by the Seller, any termination of the Seller as servicer hereunder and any other event. It is understood and intended, and is expressly covenanted by the Purchaser and the Seller as the Excess Yield Holder, each to the other, that neither the Excess Yield Holder nor the Purchaser shall have any right in any manner whatsoever by virtue of the provisions of this Agreement (i) to affect, disturb or prejudice the rights of the other, (ii) to seek to obtain priority over or preference to the other with respect to their respective interests in the Loans, except as provided in Subsection 11.16 of the Servicing Addendum, or (iii) to enforce any right under this Agreement, except in the manner herein provided and as the respective interests of the Purchaser and the Excess Yield Holder are provided for pursuant to this Agreement. The Excess Yield Holder and the Purchaser each agree to execute and deliver from time to time such other instruments and documents as may be reasonably requested by the other to further effectuate the provisions of this Subsection 6.04.
Sample 1
Excess Yield. 27 5A.11 Conversion and Continuation Options Respecting the Lessor Advances. ........................ 27 5A.12 Initial Benchmark Conforming Changes. ......................................................................... 28 5A.13 Illegality. ........................................................................................................................... 28 SECTION 6.
Sample 1

Related to Excess Yield

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate.

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • Applicable Interest Rates (a) U.S.

  • Payments from Available Funds Only All payments to be made by the Borrower under this Agreement shall be made only from the amounts that constitute Scheduled Payments, Special Payments and other payments under the Operative Agreements, including payment under Section 4.02 of the Participation Agreements and payments under Section 2.14 of the Indentures, and only to the extent that the Borrower shall have sufficient income or proceeds therefrom to enable the Borrower to make payments in accordance with the terms hereof after giving effect to the priority of payments provisions set forth in the Intercreditor Agreement. The Liquidity Provider agrees that it will look solely to such amounts to the extent available for distribution to it as provided in the Intercreditor Agreement and this Agreement and that the Borrower, in its individual capacity, is not personally liable to it for any amounts payable or liability under this Agreement except as expressly provided in this Agreement, the Intercreditor Agreement or any Participation Agreement. Amounts on deposit in the Class A Cash Collateral Account shall be available to the Borrower to make payments under this Agreement only to the extent and for the purposes expressly contemplated in Section 3.05(f) of the Intercreditor Agreement.

  • Excess Amounts On any Payment Date, to the extent the sum of the amount on deposit in the Reserve Account plus the amount available under any Letter of Credit exceeds the Required Reserve Amount on any Payment Date, the amount of such excess may be released from the Reserve Account and paid to the Class R Interest on such Payment Date.

  • Required Amount (a) With respect to each Distribution Date, on the related Determination Date, the Servicer shall determine the amount (the “Class A Required Amount”), if any, by which (x) the sum of (i) Class A Monthly Interest for such Distribution Date, (ii) any Class A Monthly Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date, (iii) any Class A Additional Interest for such Distribution Date and (iv) any Class A Additional Interest previously due but not paid to the Class A Certificateholders on a prior Distribution Date, (v) if TRS or an Affiliate of TRS is no longer the Servicer, the Class A Servicing Fee for such Distribution Date, (vi) if TRS or an Affiliate of TRS is no longer the Servicer, any Class A Servicing Fee previously due but not paid to the Servicer, and (vii) the Class A Investor Default Amount, if any, for such Distribution Date exceeds (y) the Class A Available Funds. In the event that the difference between (x) the Class A Required Amount for such Distribution Date and (y) the amount of Excess Spread and Excess Finance Charge Collections applied with respect thereto pursuant to subsection 4.07(a) on such Distribution Date is greater than zero, the Servicer shall give written notice to the Transferors and the Trustee of such excess Class A Required Amount on the date of computation.

Time is Money Join Law Insider Premium to draft better contracts faster.