Settlement Account Payments Sample Clauses

Settlement Account Payments. Prior to the occurrence of a Default, to the extent the amounts in the Settlement Account are not needed to keep the Borrowing Base equal to or greater than the aggregate unpaid principal amount outstanding under this Agreement, the Borrower may withdraw or otherwise direct the application of such amounts. Upon the occurrence of a Default (and during the continuance thereof), the Agent may declare a portion of the principal balance of the Loans, equal to any amounts then on deposit in the Settlement Account and any deposits made in the Settlement Account during the continuance of such Default, to be due and payable without demand (unless previously declared due and payable). Such amount shall be withdrawn from the Settlement Account by the Agent and shall be applied to the Obligations.
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Settlement Account Payments. 29- 2.10.4. Final Payment on Termination Date......................................-30- 2.11. Changes in Interest Rate, Etc...................................................-30- 2.12. Rates Applicable After Default..................................................-30- 2.13. Method of Payment...............................................................-30- 2.14. Notes; Telephonic Notices.......................................................-31- 2.15. Interest Payment Dates; Interest and Fee Basis..................................-31- 2.16. Notification by the Agent.......................................................-31- 2.17. Lending Installations...........................................................-31- 2.18. Non-Receipt of Funds by the Agent...............................................-32- ARTICLE III CHANGE IN CIRCUMSTANCES...........................................................................-32- 3.1. Yield Protection................................................................-32- 3.2. Changes in Capital Adequacy Regulations.........................................-33- 3.3. ................................................................................-33- 3.4. Funding Indemnification.........................................................-33- 3.5. Lender Statements; Survival of Indemnity........................................-33-
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Settlement Account Payments. 28 2.10.5. Final Payment on Termination Date............. 29 2.11. Changes in Interest Rate, Etc.......................... 29 2.12.
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Settlement Account Payments. Upon the sale of any Pledged Item (or repayment of any principal of any HELOC Loan constituting a Pledged Item (a "Pledged HELOC Loan")), the Borrower shall give the Agent documentation identifying the Pledged Item sold (or the Pledged HELOC Loan being fully or partially repaid), the purchaser thereof and the related net sales proceeds (or net principal repayment on a Pledged HELOC Loan) in a manner sufficient to allow the Agent to match each Settlement Account deposit ("Sale Deposit") with the applicable Pledged Item sold (or HELOC Loan repaid). Prior to the occurrence of a Default, upon the Agent's receipt of the documentation described in the preceding sentence with respect to any Pledged Item and the receipt of the related Sale Deposit in the Settlement Account, an amount equal to the lesser of such Sale Deposit and the Collateral Value of the related Pledged Item shall be applied to then outstanding Loans in the order and in the amounts directed by Borrower or, absent such direction, in the following order: (i) first, to Swingline Loans (other than those constituting Post-Default Swingline Advances) until paid in full, (ii) second, to Fed Funds Loans until paid in full, (iii) third, to Alternate Base Rate Loans until paid in full, (iv) fourth, to Eurodollar Loans (and with respect to Eurodollar Loans only, to interest thereon) until paid in full, and (v) fifth, to Post-Default Swingline Advances until paid in full. With respect to Eurodollar Loans, such amounts (1) shall be applied to such Loans in the order in which their Interest Periods expire (i.e. the Eurodollar Loans first maturing shall be the first repaid), and (2) shall be applied to interest on Loans which have been repaid before being applied to principal of Loans having a different Interest Period. The applications described in the preceding sentence shall occur on the Business Day on which the Sale Deposit is received in the Settlement Account if both the Sale Deposit and the related required documentation are received by noon (Chicago time) and shall occur on the next succeeding Business Day after both have been received if either the Sale Deposit or the documentation is received after noon. Prior to the occurrence of a Default, the Borrower may withdraw or otherwise direct the application of any portion of the Sale Deposit for a particular Pledged Item which remains in the Settlement Account after the applications described above so long as (after accounting for any such withdrawal or a...
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Related to Settlement Account Payments

  • Settlement Account Money debited to the Capital Account in respect of the cost of purchases made on the Client's behalf and money received and receivable upon settlement of each sale made on the Client's behalf will be credited to this account and held there until the relevant settlement date.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Settlement Payments On the first Business Day of each month ("Interest Settlement Date"), Collateral Agent will advise each Lender by telephone, fax or telecopy of the amount of such Lender's share of interest and fees on each of the Loans as of the end of the last day of the immediately preceding month. Provided that such Lender has made all payments required to be made by it under this Agreement, Collateral Agent will pay to such Lender, by wire transfer to such Lender's account (as specified by such Lender on the signature page of this Agreement or the applicable Assignment and Acceptance Agreement, as amended by such Lender from time to time after the date hereof or in the applicable Assignment and Acceptance Agreement) not later than 3:00 p.m. Chicago time on the next Business Day following the Interest Settlement Date, such Lender's share of interest and fees on each of the Loans. Such Lender's share of interest on each Loan will be calculated for that Loan by adding together the Daily Interest Amounts for each calendar day of the prior month for that Loan and multiplying the total thereof by the Interest Ratio for that Loan. Such Lender's share of the Unused Line Fee described in subsection 2.3(A) shall be an amount equal to (a)(i) such Lender's average Revolving Loan Commitment during such month, less (ii) the sum of (x) such Lender's average Daily Loan Balance of the Revolving Loans, plus (y) such Lender's Pro Rata Share of the average daily aggregate amount of Letter of Credit Reserve, in each case for the preceding month, multiplied by (b) the percentage required by subsection 2.3(A). Such Lender's share of all other fees paid to Collateral Agent for the benefit of Lenders hereunder shall be paid and calculated based on such Lender's Commitment with respect to the Loans on which such fees are associated. To the extent Collateral Agent does not receive the total amount of any fee owing by Borrowers under this Agreement, each amount payable by Collateral Agent to a Lender under this subsection 9.8(A)(4) with respect to such fee shall be reduced on a pro rata basis. The Collateral Agent and the Lenders hereby acknowledge and agree that in no event shall the aggregate fee payments received by such Lenders pursuant to this subsection 9.8(A)(4) exceed the total amount of fees pursuant to subsection 2.3.

  • Payment Account Paying Agents 15 SECTION 3.1. Payment Account.....................................................................15 SECTION 3.2. Appointment of Paying Agents........................................................15

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Disbursements of Monies from Payment Account (a) Notwithstanding any other provision in this Agreement, but subject to the other subsections of this Section 9.01, on each Payment Date, the Collateral Agent shall disburse amounts transferred from the Collection Account to the Payment Account pursuant to Section 8.02 in accordance with the Payment Date Report and the following priorities (the “Priority of Payments”):

  • Collection Account and Distribution Account (a) On behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, one or more accounts (each such account or accounts, a “Collection Account”), held in trust for the benefit of the Trustee and the Certificateholders. On behalf of the Trust Fund, the Servicer shall deposit or cause to be deposited in the related clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Servicer’s receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the deposit of good funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal or interest on the Mortgage Loans due on or before the related Cut-off Date, or payments (other than Principal Prepayments) received by it on or prior to the related Cut-off Date but allocable to a Due Period subsequent thereto):

  • Note Payment Account (a) Pursuant to Section 4.1, the Indenture Trustee shall establish and maintain the Note Payment Account, which shall be an Eligible Account, for the benefit of the Secured Parties. If the Note Payment Account loses its status as an Eligible Account, the funds in such account shall be moved to an account that qualifies as an Eligible Account within thirty (30) days. The Note Payment Account shall be funded to the extent that (i) the Issuer shall remit to the Indenture Trustee the Redemption Amount for a Class of Notes pursuant to Section 13.1, (ii) the Indenture Trustee shall remit thereto any Available Funds from the Collection and Funding Account pursuant to Section 4.2(b), (iii) the Indenture Trustee shall remit thereto any Available Funds from the Interest Accumulation Account, the Target Amortization Principal Accumulation Account and the Fee Accumulation Account pursuant to Section 4.5 and (iv) the Indenture Trustee shall transfer amounts from an applicable Series Reserve Account pursuant to, and to the extent required by, Section 4.6.

  • Contractual Settlement Date Accounting (a) Bank shall effect book entries on a "contractual settlement date accounting" basis as described below with respect to the settlement of trades in those markets where Bank generally offers contractual settlement day accounting and shall notify Customer of these markets from time to time.

  • Payment Account (a) On or prior to the Closing Date, the Property Trustee shall establish the Payment Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Payment Account for the purpose of making deposits in and withdrawals from the Payment Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Payment Account shall be held by the Property Trustee in the Payment Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

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