Interest Shortfall Ledger. 6.11.1 On each Principal Determination Date (and no later than one Business Day from the Interest Determination Date) prior to the service of an Enforcement Notice , and with reference to the immediately following Interest Payment Date, PML as Administrator will calculate whether there will be a shortfall of funds standing to the credit of the Revenue Ledger, Class A and Class B Liquidity Reserve Fund Release Amounts and any General Reserve Fund Release Amounts in meeting a Senior Expenses Deficit on such Interest Payment Date.
Appears in 2 contracts
Samples: investorreporting.paragonbankinggroup.co.uk, investorreporting.paragonbankinggroup.co.uk
Interest Shortfall Ledger. 6.11.1 On each Principal Determination Date (and no later than one Business Day from the Interest Determination Date) prior to the service of an Enforcement Notice Notice, and with reference to the immediately following Interest Payment Date, PML as Administrator will calculate whether there will be a shortfall of funds standing to the credit of the Revenue Ledger, Class A and Class B Liquidity Reserve Fund Release Amounts and any General Reserve Fund Release Amounts in meeting a Senior Expenses Deficit on such Interest Payment Date.
Appears in 2 contracts
Samples: Administration Agreement, Paragon Mortgages
Interest Shortfall Ledger. 6.11.1 (a) On each Principal Determination Date (and no later than one Business Day from the Interest Determination Date) prior to the service of an Enforcement Notice Notice, and with reference to the immediately following Interest Payment Date, PML as Administrator will calculate whether there will be a shortfall of funds standing to the credit of the Revenue Ledger, Class A and Class B Liquidity Reserve Fund Release Amounts and any General Reserve Fund Release Amounts in meeting a Senior and Junior Expenses Deficit on such Interest Payment Date.
Appears in 1 contract
Samples: Administration Agreement
Interest Shortfall Ledger. 6.11.1 On each Principal Determination Date (and no later than one Business Day from the Interest Determination Date) prior to the service of an Enforcement Notice Notice, and with reference to the immediately following Interest Payment Date, PML as Administrator will calculate whether there will be a shortfall of funds standing to the credit of the Revenue Ledger, Class A and Class B Liquidity Reserve Fund Release Amounts and any General Reserve Fund Release Amounts in meeting a Senior Expenses Deficit on such Interest Payment Date.
Appears in 1 contract
