Common use of Payment Stream Clause in Contracts

Payment Stream. The Counterparty under the Interest Rate Cap Agreement shall be obligated to make a stream of payments, directly to the Mezzanine Account (whether or not an Event of Default has occurred) from time to time equal to the product of (i) the notional amount of such Interest Rate Cap Agreement multiplied by (ii) the excess, if any, of the LIBOR over the Strike Price;

Payment Stream. The Counterparty under the Interest Rate Cap Agreement (Junior Tier Mezzanine) shall be obligated to make a stream of payments, directly to the Mezzanine Account (whether or not an Event of Default has occurred) from time to time equal to the product of (i) the notional amount of such Interest Rate Cap Agreement (Junior Tier Mezzanine) multiplied by (ii) the excess, if any, of the LIBOR over the Strike Price;