Monthly Housing Allowance; Lease Deposit; and Principal Protection Sample Clauses

Monthly Housing Allowance; Lease Deposit; and Principal Protection. (a) Monthly Housing Allowance. - In connection with Employee's relocation to the U.S. hereunder, Employee has executed a written lease ("Lease") with Xxxxxx Xxxxxx and Xxxxx Natanshon (collectively, "Lessor") for housing in the U.S. for a period of two years, commencing from February 1, 2002 ("Lease Effective Date") and expiring on January 31, 2004 ("Lease Expiration Date"). - eLoyalty has directly paid to Lessor the net amount of Five Thousand Five Hundred Dollars (U.S.$5,500) representing payment for the final month (the month of January 2004) under the Lease ("Last Month Prepayment"). - Employee has contracted to purchase a home located at 000 X. Xxxxxxxx Xxxx, Xxxx Xxxxxx, Xxxxxxxx 00000, to serve as her primary residence through at least December 31, 2006 (the "Purchased Residence"). - As long as Employee remains in the employ of eLoyalty until December 31, 2006, eLoyalty will pay to Employee the net amount of Five Thousand Five Hundred United States Dollars (US$5,500) a month to be applied against either (i) Employee's monthly payments required under the Lease or (ii) Employee's financing payments for the Purchased Residence. Such monthly housing allowance will be paid by eLoyalty to Employee no later than the first of each month. eLoyalty will not be obligated to make such payment for the month of January 2004, as eLoyalty already has made the Last Month Prepayment. - If eLoyalty is a guarantor of such Lease and Employee fails to remit to Lessor any such monthly lease payments made by eLoyalty to Employee hereunder, Employee will indemnify and hold harmless eLoyalty (and its subsidiaries, parent and sister companies and their agents, employees, officers and directors) from any and all liabilities, costs and expenses (included, but not limited to, attorney's fees) arising in connection with any claims by Lessor or any third parties against eLoyalty for such monthly payments due under the Lease which have been paid by eLoyalty to Employee. If eLoyalty is a guarantor of such Lease, Employee may not renew the Lease at the Lease Expiration Date without eLoyalty's prior written consent. - Consistent with Section I, Paragraph (b), all such monthly housing payments under this Paragraph 4(a) will cease immediately if eLoyalty terminates Employee for Serious Misconduct or Employee resigns at any time and Employee will have no claim against eLoyalty therefor after the date of such termination or resignation. In such event, Employee will indemnify and hold harm...
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Related to Monthly Housing Allowance; Lease Deposit; and Principal Protection

  • Interest Subsidy and Special Allowance Payments and Rebate Fees The Seller shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Additional Loan or Substituted Loan accruing up to but not including the related Subsequent Cutoff Date and shall be responsible for the payment of any rebate fees applicable to such Purchased Loans subject to the related Xxxx of Sale accruing up to but not including the related Subsequent Cutoff Date. The Purchaser and the Eligible Lender Trustee on behalf of the Purchaser shall be entitled to all Special Allowance Payments and Interest Subsidy Payments accruing from the related Subsequent Cutoff Date with respect to the Additional Loans or Substituted Loans, and shall be responsible for the payment of any rebate fees applicable to the Additional Loans accruing from the date of the related Subsequent Cutoff Date.

  • Housing Allowance During the Employment Period, Executive shall be entitled to receive a Cayman Islands housing allowance of US $6,000 per month. Executive will be responsible for any taxes due on such allowance.

  • Payment of Reinsurance Premiums For automatic and facultative reinsurance, following the close of each calendar month, the Ceding Company will send the Reinsurer a statement and a listing of new business, changes and terminations. If a net reinsurance premium balance is payable to the Reinsurer, the Ceding Company will forward this balance within (60) sixty days after the close of each month. If a net reinsurance premium balance is payable to the Ceding Company, the balance due will be subtracted from the reinsurance premium payable by Ceding Company for the current month. The Reinsurer shall pay any remaining balance due the Ceding Company sixty days after the Ceding Company submits the statement.

  • Single-Premium Credit Life Insurance Policy In connection with the origination of any Mortgage Loan, no proceeds from any Mortgage Loan were used to finance or acquire a single-premium credit life insurance policy;

  • Single Premium Credit Life Insurance None of the proceeds of the Mortgage Loan were used to finance single-premium credit life insurance policies;

  • Maintenance of the Primary Insurance Policies; Collections Thereunder (a) The Master Servicer shall not take, or permit any Subservicer to take, any action which would result in non-coverage under any applicable Primary Insurance Policy of any loss which, but for the actions of the Master Servicer or Subservicer, would have been covered thereunder. To the extent coverage is available, the Master Servicer shall keep or cause to be kept in full force and effect each such Primary Insurance Policy until the principal balance of the related Mortgage Loan secured by a Mortgaged Property is reduced to 80% or less of the Appraised Value in the case of such a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80%, provided that such Primary Insurance Policy was in place as of the Cut-off Date and the Company had knowledge of such Primary Insurance Policy. The Master Servicer shall be entitled to cancel or permit the discontinuation of any Primary Insurance Policy as to any Mortgage Loan, if the Stated Principal Balance of the Mortgage Loan is reduced below an amount equal to 80% of the appraised value of the related Mortgaged Property as determined in any appraisal thereof after the Closing Date, or if the Loan-to-Value Ratio is reduced below 80% as a result of principal payments on the Mortgage Loan after the Closing Date. In the event that the Company gains knowledge that as of the Closing Date, a Mortgage Loan had a Loan-to-Value Ratio at origination in excess of 80% and is not the subject of a Primary Insurance Policy (and was not included in any exception to the representation in Section 2.03(b)(iv)) and that such Mortgage Loan has a current Loan-to-Value Ratio in excess of 80% then the Master Servicer shall use its reasonable efforts to obtain and maintain a Primary Insurance Policy to the extent that such a policy is obtainable at a reasonable price. The Master Servicer shall not cancel or refuse to renew any such Primary Insurance Policy applicable to a Nonsubserviced Mortgage Loan, or consent to any Subservicer canceling or refusing to renew any such Primary Insurance Policy applicable to a Mortgage Loan subserviced by it, that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder unless the replacement Primary Insurance Policy for such canceled or non-renewed policy is maintained with an insurer whose claims-paying ability is acceptable to each Rating Agency for mortgage pass-through certificates having a rating equal to or better than the lower of the then-current rating or the rating assigned to the Certificates as of the Closing Date by such Rating Agency.

  • Monthly Payment 17 Mortgage......................................................................................17

  • Payment of Principal, Premium, if any, and Interest The Company covenants and agrees for the benefit of the Holders of the Securities that it will duly and punctually pay the principal of and any premium and interest (including any Additional Interest) on the Securities in accordance with the terms of the Securities and this Indenture.

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

  • Lease Payments No Borrower will, or will permit any Subsidiary to, directly or indirectly, incur or assume (whether pursuant to a Guarantee or otherwise) any liability for rental payments except in the Ordinary Course of Business.

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