Formula Balance Sample Clauses

Formula Balance. If at any time the limitations set forth in clauses 2.1(b)(i)(A) or 2.1(b)(ii)(X) are exceeded, then within 5 Business Days thereafter, Borrower will make a principal payment to Lender in an amount equal to such overage. If at any time the limitations set forth in clauses 2.1(b)(i)(B), 2.1(b)(i)(C), 2.1(b)(ii)(Y) or 2.1(b)(ii)(Z) above are exceeded, then within 20 days thereafter, Borrower will at its sole option either (A) make a principal payment to Lender or (B) pledge to Lender Additional Timeshare Inventory (under the conditions set forth in Section 2.11 hereof) (or any combination of the alternatives contained in clauses (A) or (B) above) so that after such payment or pledge, the relevant limitation is not exceeded.
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Formula Balance. If at any time the limitations set forth in clauses 2.1(b)(i)(A), 2.1(b)(i)(B), 2.1(b)(ii)(W) or 2.1(b)(ii)(X) are exceeded, then within 5 Business Days thereafter, Borrower will make a principal payment to Lender in an amount equal to such overage. If at any time the limitations set forth in clauses 2.1(b)(i)(C), 2.1(b)(ii)(Y) or 2.1(b)(ii)(Z) above are exceeded, then within 20 days thereafter, Borrower will at its sole option either (A) make a principal payment to Lender or (B) pledge to Lender completed Timeshare Inventory from the Timeshare Project (the "Additional Timeshare Inventory") (or any combination of the alternatives contained in clauses (A) or (B) above) so that after such payment or pledge, the relevant limitation is not exceeded; provided that, in the case of pledging Additional Timeshare Inventory to Lender, (i) the Mortgage is amended to include such Additional Timeshare Inventory within the scope of the lien created thereunder, (ii) the Title Policy is endorsed to include as a part of Schedule A thereof such Additional Timeshare Inventory, subject only to the Permitted Encumbrances, at the sole cost and expense of Borrower, under a form of endorsement reasonably acceptable to Lender and (iii) the conditions contained in Sections 4.1(l) and (m) are satisfied with respect to such Additional Timeshare Inventory.
Sample 1

Related to Formula Balance

  • Cash Balance At Closing, Purchaser shall pay to Seller the Purchase Price, less the Xxxxxxx Money, plus or minus the prorations described in this Agreement (such amount, as adjusted, being referred to as the “Cash Balance”). Purchaser shall pay the Cash Balance by federal funds wire transferred to an account designated by Seller in writing.

  • Cash Balances The Equipment Growth Funds of which FSI is the sole general partner shall maintain aggregate unrestricted cash balances of $8,500,000.

  • Balance Each Receivable had an original Principal Balance of not more than $74,979.18 and, as of the Cut-off Date, had a Principal Balance of not less than $2,000.32 and not more than $71,436.06.

  • Credit Balances No interest or other amount will be paid by the Custodian on any credit balance on an Allocated Account.

  • Pool Balance 1. Pool Balance on the close of the last day of the preceding Collection Period $

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement

  • Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $850,069,757.10

  • ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE The Original Class A Non-PO Principal Balance is $170,009,500.00.

  • Account Balance The Servicer must never allow any Custodial T&I Account to become overdrawn as to any individual related Borrower. If there are insufficient funds in the account, the Servicer must advance its own funds to cure the overdraft.

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,493,405.52.

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