Common use of Payment of Price Differential Clause in Contracts

Payment of Price Differential. (a) Notwithstanding that the Purchaser and the Seller intend that the Transactions hereunder be sales to the Purchaser of the Purchased Assets, the Seller shall pay to the Purchaser the accreted value of the Price Differential of each Transaction (each such payment, a "Periodic Advance Repurchase Payment") on each Payment Date. The Purchaser shall deliver to the Seller, via Electronic Transmission, notice of the required Periodic Advance Repurchase Payment (along with the calculation of the Unused Fee, if any, and other amounts owed and to be paid under Section 2.8) on or prior to the second (2nd) Business Day preceding each Payment Date. If the Seller fails to make all or part of the Periodic Advance Repurchase Payment and the other amounts due by 3:00 p.m. on the Payment Date, the Seller shall be obligated to pay to the Purchaser (in addition to, and together with, the Periodic Advance Repurchase Payment and the other amounts due) interest on the unpaid amounts at a rate per annum equal to the Post-Default Rate (the "Late Payment Fee") until the unpaid amounts are received in full by the Purchaser. If the Periodic Advance Repurchase Payment includes any estimated Price Differential, the Purchaser shall recalculate such Price Differential after the Payment Date and, if necessary, make adjustments to the Periodic Advance Repurchase Payment amount due on the following Payment Date.

Appears in 2 contracts

Samples: Repurchase Agreement (Arbor Realty Trust Inc), Loan Purchase and Repurchase Agreement (Arbor Realty Trust Inc)

AutoNDA by SimpleDocs

Payment of Price Differential. (a) Notwithstanding that the Purchaser Sellers, the Agent and the Seller Buyers intend that the Transactions hereunder be sales to the Purchaser Buyers of the Purchased Assets, the Seller Sellers shall pay to the Purchaser Agent, for the accreted value account of the Buyers, an amount equal to the accrued Price Differential of each Transaction through but not including the Payment Calculation Date (each such payment, a "Periodic Advance Repurchase Payment") on each Payment DateDate less any portion thereof previously paid, if any. The Purchaser Agent shall deliver to the SellerSellers, via Electronic Transmission, notice of the required Periodic Advance Repurchase Payment (along with the calculation of the Unused Fee, if anyPayment, and other amounts owed and to be paid under Section 2.8) a detailed calculation thereof, on or prior to the second fifth (2nd5th) Business Day preceding each Payment Date. If the Seller fails Sellers fail to make all or part of the Periodic Advance Repurchase Payment and the other amounts due by 3:00 p.m. 5:00 p.m., New York City time, on the Payment Date, the Seller Sellers shall be obligated to pay to the Purchaser Agent for the account of the Buyers (in addition to, and together with, the Periodic Advance Repurchase Payment and the other amounts duePayment) interest on the unpaid amounts amount of the Periodic Advance Repurchase Payment at a rate per annum equal to the Post-Default Rate (the "Late Payment Fee") until the unpaid amounts are overdue Periodic Advance Repurchase Payment is received in full by the Purchaser. If Agent for the Periodic Advance Repurchase Payment includes any estimated Price Differential, account of the Purchaser shall recalculate such Price Differential after the Payment Date and, if necessary, make adjustments to the Periodic Advance Repurchase Payment amount due on the following Payment DateBuyers.

Appears in 2 contracts

Samples: Master Repurchase Agreement (Gramercy Capital Corp), Master Repurchase Agreement (Gramercy Capital Corp)

Payment of Price Differential. (a) Notwithstanding that the Purchaser Seller and the Seller Buyer intend that the Transactions hereunder be sales to the Purchaser Buyer of the Purchased Assets, the Seller shall pay to Buyer an amount equal to the Purchaser the accreted value of the accrued Price Differential of each Transaction through but not including the Payment Calculation Date (each such payment, a "Periodic Advance Repurchase Payment") on each Payment DateDate less any portion thereof previously paid, if any. The Purchaser Buyer shall deliver to the Seller, via Electronic Transmission, notice of the required Periodic Advance Repurchase Payment (along with the calculation of the Unused Fee, if anyPayment, and other amounts owed and to be paid under Section 2.8) a detailed calculation thereof, on or prior to the second fifth (2nd5th) Business Day preceding each Payment Date. If the Seller fails to make all or part of the Periodic Advance Repurchase Payment and the other amounts due by 3:00 p.m. 5:00 p.m., New York City time, on the Payment Date, the Seller shall be obligated to pay to the Purchaser Buyer (in addition to, and together with, the Periodic Advance Repurchase Payment and the other amounts duePayment) interest on the unpaid amounts amount of the Periodic Advance Repurchase Payment at a rate per annum equal to the Post-Default Rate (the "Late Payment Fee") until the unpaid amounts are overdue Periodic Advance Repurchase Payment is received in full by the Purchaser. If the Periodic Advance Repurchase Payment includes any estimated Price Differential, the Purchaser shall recalculate such Price Differential after the Payment Date and, if necessary, make adjustments to the Periodic Advance Repurchase Payment amount due on the following Payment DateBuyer.

Appears in 1 contract

Samples: Repurchase Agreement (Gramercy Capital Corp)

Payment of Price Differential. (a) Notwithstanding that the Purchaser Sellers and the Seller Buyer intend that the Transactions hereunder be sales to the Purchaser Buyer of the Purchased Assets, the Seller Sellers shall pay to Buyer an amount equal to the Purchaser the accreted value of the accrued Price Differential of each Transaction through but not including the Payment Calculation Date (each such payment, a "Periodic Advance Repurchase Payment") on each Payment DateDate less any portion thereof previously paid, if any. The Purchaser Buyer shall deliver to the SellerSellers, via Electronic Transmission, notice of the required Periodic Advance Repurchase Payment (along with the calculation of the Unused Fee, if anyPayment, and other amounts owed and to be paid under Section 2.8) a detailed calculation thereof, on or prior to the second fifth (2nd5th) Business Day preceding each Payment Date. If the Seller fails Sellers fail to make all or part of the Periodic Advance Repurchase Payment and the other amounts due by 3:00 p.m. 5:00 p.m., New York City time, on the Payment Date, the Seller Sellers shall be obligated to pay to the Purchaser Buyer (in addition to, and together with, the Periodic Advance Repurchase Payment and the other amounts duePayment) interest on the unpaid amounts amount of the Periodic Advance Repurchase Payment at a rate per annum equal to the Post-Default Rate (the "Late Payment Fee") until the unpaid amounts are overdue Periodic Advance Repurchase Payment is received in full by the Purchaser. If the Periodic Advance Repurchase Payment includes any estimated Price Differential, the Purchaser shall recalculate such Price Differential after the Payment Date and, if necessary, make adjustments to the Periodic Advance Repurchase Payment amount due on the following Payment DateBuyer.

Appears in 1 contract

Samples: Master Repurchase Agreement (Capital Lease Funding Inc)

Payment of Price Differential. (a) Notwithstanding that the Purchaser and the Seller intend that the Transactions hereunder be sales to the Purchaser or its designee of the Purchased Assets, the Seller shall pay to the Purchaser Deal Agent as agent for the Secured Parties the accreted value of the Price Differential of each Transaction (each such payment, a "Periodic Advance Repurchase Payment") on each Payment Date. The Purchaser Deal Agent shall deliver to the Seller, via Electronic Transmission, notice of the required Periodic Advance Repurchase Payment (along with the calculation of the Unused Fee, if any, and other amounts owed and to be paid under Section 2.8) on or prior to the second (2nd) Business Day preceding each Payment Date. If the Seller fails to make all or part of the Periodic Advance Repurchase Payment and the other amounts due by 3:00 1:00 p.m. on the Payment Date, the Seller shall be obligated to pay to the Purchaser Deal Agent as agent for the Secured Parties (in addition to, and together with, the Periodic Advance Repurchase Payment and the other amounts due) interest on the unpaid amounts at a rate per annum equal to the Post-Default Rate (the "Late Payment Fee") until the unpaid amounts are received in full by the PurchaserDeal Agent. If the Periodic Advance Repurchase Payment includes any estimated Price Differential, the Purchaser Deal Agent shall recalculate such Price Differential after the Payment Date and, if necessary, make adjustments to the Periodic Advance Repurchase Payment amount due on the following Payment Date.

Appears in 1 contract

Samples: Master Repurchase Agreement (Arbor Realty Trust Inc)

AutoNDA by SimpleDocs

Payment of Price Differential. (a) Notwithstanding that the Purchaser Seller and the Seller Buyer intend that the Transactions hereunder be sales to the Purchaser Buyer of the Purchased Assets, the Seller shall pay to Buyer an amount equal to the Purchaser the accreted value of the accrued Price Differential of each Transaction through but not including the Payment Calculation Date (each such payment, a "Periodic Advance Repurchase Payment") on each Payment DateDate less any portion thereof previously paid, if any. The Purchaser Buyer shall deliver to the Seller, via Electronic Transmission, notice of the required Periodic Advance Repurchase Payment (along with the calculation of the Unused Fee, if anyPayment, and other amounts owed and to be paid under Section 2.8) a detailed calculation thereof, on or prior to the second fifth (2nd5th) Business Day preceding each Payment Date. If the Seller fails to make all or part of the Periodic Advance Repurchase Payment and the other amounts due by 3:00 p.m. 5:00 p.m., New York City time, on the Payment Date, the Seller shall be obligated to pay to the Purchaser Buyer (in addition to, and together with, the Periodic Advance Repurchase Payment and the other amounts duePayment) interest on the unpaid amounts amount of the Periodic Advance Repurchase Payment at a rate per annum equal to the Post-Default Rate (the "Late Payment Fee") until the unpaid amounts are overdue Periodic Advance Repurchase Payment is received in full by the Purchaser. If the Periodic Advance Repurchase Payment includes any estimated Price Differential, the Purchaser shall recalculate such Price Differential after the Payment Date and, if necessary, make adjustments to the Periodic Advance Repurchase Payment amount due on the following Payment DateBuyer.

Appears in 1 contract

Samples: Master Repurchase Agreement (CBRE Realty Finance Inc)

Payment of Price Differential. (a) Notwithstanding that the Purchaser Sellers and the Seller Buyer intend that the Transactions hereunder be sales to the Purchaser Buyer of the Purchased Assets, the Seller Sellers shall pay to Buyer an amount equal to the Purchaser the accreted value of the accrued Price Differential of each Transaction through but not including the Payment Calculation Date (each such payment, a "Periodic Advance Repurchase Payment") on each Payment DateDate less any portion thereof previously paid, if any. The Purchaser Buyer shall deliver to the SellerSellers, via Electronic Transmission, notice of the required Periodic Advance Repurchase Payment (along with the calculation of the Unused Fee, if anyPayment, and other amounts owed and to be paid under Section 2.8) a detailed calculation thereof, on or prior to the second fifth (2nd5th) Business Day preceding each Payment Date. If the Seller fails Sellers fail to make all or part of the Periodic Advance Repurchase Payment and the other amounts due by 3:00 p.m. 5:00 p.m., New York City time, on the Payment Date, the Seller Sellers shall be obligated to pay to the Purchaser Buyer (in addition to, and together with, the Periodic Advance Repurchase Payment and the other amounts duePayment) interest on the unpaid amounts amount of the Periodic Advance Repurchase Payment at a rate per annum equal to the Post-Default Rate (the "Late Payment Fee") until the unpaid amounts are overdue Periodic Advance Repurchase Payment is received in full by the Purchaser. If the Periodic Advance Repurchase Payment includes any estimated Price Differential, the Purchaser shall recalculate such Price Differential after the Payment Date and, if necessary, make adjustments to the Periodic Advance Repurchase Payment amount due on the following Payment DateBuyer.

Appears in 1 contract

Samples: Master Repurchase Agreement (Gramercy Capital Corp)

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