The Variable Funding Note Sample Clauses

The Variable Funding Note. Section 2.1 The Variable Funding Notes 60 Section 2.2 Procedures for Advances by the Lenders 60 Section 2.3 Reduction of the Facility Amount; Principal Repayments 63 Section 2.4 Determination of Interest 64 Section 2.5 Notations on Variable Funding Notes 64 Section 2.6 Borrowing Base Deficiency Cures 65 Section 2.7 Priority of Payments 65 Section 2.8 Alternate Priority of Payments 67 Section 2.9 Collections and Allocations 69 Section 2.10 Payments, Computations, etc. 70 Section 2.11 Fees 71 Section 2.12 Increased Costs; Capital Adequacy; Illegality 71 Section 2.13 Taxes 74 Section 2.14 Reinvestment; Discretionary Sales, Substitutions and Optional Sales of Loans 78 Section 2.15 Assignment of Sale Agreement 82 Section 2.16 Capital Contributions 82 Section 2.17 Defaulting Lenders 82 ARTICLE III
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The Variable Funding Note. (a) On the terms and conditions hereinafter set forth, on the Closing Date, the Borrower shall deliver to the Agent, at the address set forth on Annex A to this Agreement, a duly executed variable funding note (the “Variable Funding Note”), in substantially the form of Exhibit B-1, dated as of the date of this Agreement, in a face amount equal to the Conduit Lender’s Commitment as of the Closing Date and otherwise duly completed. Each Variable Funding Note evidences, and at all times on and after the date hereof shall continue to evidence each Conduit Lender’s ratable share of the security interest in the Collateral granted pursuant to Section 8.1. Interest shall accrue, and each Variable Funding Note shall be payable, as described herein.
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The Variable Funding Note. (a) On the terms and conditions hereinafter set forth, on the Closing Date, the Borrower shall deliver (i) to each Lender, at the applicable address set forth on Annex A to this Agreement, and (ii) on the effective date of any Assignment and Acceptance or Joinder Supplement, to each successor Lender or additional Lender, as applicable, at the address set forth in the applicable Assignment and Acceptance or Joinder Supplement, a duly executed variable funding note (each, a “Variable Funding Note”), in substantially the form of Exhibit B, dated as of the date of this Agreement, in a face amount equal to the applicable Lender’s Commitment as of the Closing Date or the effective date of any Assignment and Acceptance or Joinder Supplement, as applicable, and otherwise duly completed. The Borrower shall deliver to the Trustee and the Registrar a copy of each such Variable Funding Note issued. Each Variable Funding Note shall evidence each Lender’s ratable share of the security interest in the Collateral granted pursuant to Section 8.1 in an amount equal, at any time, to the percentage equivalent of a fraction, (x) the numerator of which is the outstanding Advances by such Lender under the applicable Variable Funding Note on such day and (y) the denominator of which is the Advances Outstanding on such day. Interest shall accrue, and each Variable Funding Note shall be payable, as described herein.
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The Variable Funding Note. (a) On the terms and conditions hereinafter set forth, Borrower shall deliver a duly executed variable funding note (the “Variable Funding Note” or “VFN”), in substantially the form of Exhibit B, on the Closing Date, to the Lender at its address set forth on Annex A to this Agreement. The Variable Funding Note shall evidence the Advances hereunder. Interest shall accrue, and the VFN shall be payable, as described herein. The VFN shall be in the name of “MMP-7 Funding, LLC” and shall be in the maximum principal amount of up to $50,000,000 and otherwise duly completed.
Sample 1
The Variable Funding Note. (a) On the terms and conditions hereinafter set forth, on the Closing Date, the Borrower shall deliver to the Agent, at the address set forth on the signature pages of this Agreement, a duly executed variable funding note (the “Variable Funding Note”), in substantially the form of Exhibit B-1, dated as of the date of this Agreement, and otherwise duly completed. The Variable Funding Note issued to the Conduit Lender shall be in the name of “Xxxxxx Xxxxxxx Corp., as the Agent” and shall be in the face amount equal to $125,000,000. The Variable Funding Note shall evidence an undivided ownership interest (and the Borrower does hereby sell, transfer, assign and convey such undivided ownership interest to the Conduit Lender) in the Collateral purchased by the Conduit Lender.
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The Variable Funding Note. (a) On the terms and conditions hereinafter set forth, the Borrower shall deliver on the Effective Date, to the Administrative Agent, on behalf of the Lenders, a duly executed variable funding note in substantially the form of Exhibit B (the “Variable Funding Note” or “VFN”), dated as of the date of this Agreement, and otherwise duly completed. The face amount of the Variable Funding Note shall be $175,000,000; the maximum principal balance of the Variable Funding Note shall be the Maximum Facility Amount. Each Committed Lender’s Commitment shall be allocated ratably to the Variable Funding Note in accordance with its Pro Rata Share. Interest shall accrue, and the VFN shall be payable, as described herein.
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The Variable Funding Note. Section 2.1 The Variable Funding Notes.
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The Variable Funding Note 
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Related to The Variable Funding Note

  • Payment of Note Punctually pay or cause to be paid the principal of, interest on and all other amounts payable hereunder and under the Note in accordance with the terms thereof.

  • Increases in Class Principal Balances of the Notes On each Payment Date on or prior to the Termination Date, the Class Principal Balance of each Class of Original Notes will be increased (in each case without regard to any exchanges of Class M Notes for MAC Notes) by the amount of the increase, if any, in the Class Notional Amount of the Corresponding Class of Reference Tranche due to the allocation of Tranche Write-up Amounts to such Class of Reference Tranche on such Payment Date pursuant to Section 3.03(c) above. If on the Maturity Date or any Payment Date a Class of MAC Notes is outstanding, all Tranche Write-up Amounts that are allocable to Class M Notes that were exchanged for such MAC Notes will be allocated to increase the Class Principal Balances or Notional Principal Amounts, as applicable, of such MAC Notes in accordance with the exchange proportions applicable to the related Combination.

  • Payment of Notes 45 Section 4.02 Maintenance of Office or Agency................................................................ 45 Section 4.03 Reports........................................................................................ 45 Section 4.04

  • Prepayment of Notes 3 Section 2.1.

  • Regular Floating Rate Note Unless this Note is specified on the face hereof as a Floating Rate/Fixed Rate Note, this Note (a “Regular Floating Rate Note”) will bear interest at the rate determined by reference to the applicable Interest Rate Basis or Interest Rate Bases: (1) plus or minus the applicable Spread, if any; and/or (2) multiplied by the applicable Spread Multiplier, if any. Commencing on the first Interest Reset Date, the rate at which interest on this Regular Floating Rate Note is payable will be reset as of each Interest Reset Date; provided, however, that the interest rate in effect for the period, if any, from the Original Issue Date to the first Interest Reset Date will be the Initial Interest Rate.

  • Certificates Issuable in Classes; Distributions of Principal and Interest; Authorized Denominations The aggregate principal amount of the Certificates that may be authenticated and delivered under this Agreement is limited to the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date, as specified in the Preliminary Statement to this Agreement, except for Certificates authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Certificates pursuant to Section 5.03. Such aggregate principal amount shall be allocated among one or more Classes having designations, types of interests, initial per annum Certificate Interest Rates, initial Class Principal Balances and Final Maturity Dates as specified in the Preliminary Statement to this Agreement. The aggregate Percentage Interest of each Class of Certificates of which the Class Principal Balance equals zero as of the Cut-Off Date that may be authenticated and delivered under this Agreement is limited to 100%. Certificates shall be issued in Authorized Denominations.

  • Principal Funding Account (a) The Servicer shall establish and maintain with a Qualified Institution, which may be the Trustee, in the name of the Trustee, on behalf of the Trust, for the benefit of the Investor Certificateholders, a segregated trust account with the corporate trust department of such Qualified Institution (the "Principal Funding Account"), bearing a designation clearly indicating that ------------------------- the funds deposited therein are held for the benefit of the Investor Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Principal Funding Account and in all proceeds thereof. The Principal Funding Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor Certificateholders. If any time the institution holding the Principal Funding Account ceases to be a Qualified Institution the Transferor shall notify the Trustee, and the Trustee upon being notified (or the Servicer on its behalf) shall, within ten (10) Business Days, establish a new Principal Funding Account meeting the conditions specified above with a Qualified Institution, and shall transfer any cash or any investments to such new Principal Funding Account. The Trustee, at the written direction of the Servicer, shall (i) make withdrawals from the Principal Funding Account from time to time, in the amounts and for the purposes set forth in this Supplement, and (ii) on each Transfer Date (from and after the commencement of the Accumulation Period) prior to termination of the Principal Funding Account make a deposit into the Principal Funding Account in the amount specified in, and otherwise in accordance with, subsection 4.09(e) of the Agreement.

  • Determination of Pass-Through Rates for COFI Certificates The Pass-Through Rate for each Class of COFI Certificates for each Interest Accrual Period after the initial Interest Accrual Period shall be determined by the Trustee as provided below on the basis of the Index and the applicable formulae appearing in footnotes corresponding to the COFI Certificates in the table relating to the Certificates in the Preliminary Statement. Except as provided below, with respect to each Interest Accrual Period following the initial Interest Accrual Period, the Trustee shall not later than two Business Days prior to such Interest Accrual Period but following the publication of the applicable Index determine the Pass-Through Rate at which interest shall accrue in respect of the COFI Certificates during the related Interest Accrual Period. Except as provided below, the Index to be used in determining the respective Pass-Through Rates for the COFI Certificates for a particular Interest Accrual Period shall be COFI for the second calendar month preceding the Outside Reference Date for such Interest Accrual Period. If at the Outside Reference Date for any Interest Accrual Period, COFI for the second calendar month preceding such Outside Reference Date has not been published, the Trustee shall use COFI for the third calendar month preceding such Outside Reference Date. If COFI for neither the second nor third calendar months preceding any Outside Reference Date has been published on or before the related Outside Reference Date, the Index for such Interest Accrual Period and for all subsequent Interest Accrual Periods shall be the National Cost of Funds Index for the third calendar month preceding such Interest Accrual Period (or the fourth preceding calendar month if such National Cost of Funds Index for the third preceding calendar month has not been published by such Outside Reference Date). In the event that the National Cost of Funds Index for neither the third nor fourth calendar months preceding an Interest Accrual Period has been published on or before the related Outside Reference Date, then for such Interest Accrual Period and for each succeeding Interest Accrual Period, the Index shall be LIBOR, determined in the manner set forth below. With respect to any Interest Accrual Period for which the applicable Index is LIBOR, LIBOR for such Interest Accrual Period will be established by the Trustee on the related Interest Determination Date as provided in Section 4.08. In determining LIBOR and any Pass-Through Rate for the COFI Certificates or any Reserve Interest Rate, the Trustee may conclusively rely and shall be protected in relying upon the offered quotations (whether written, oral or on the Reuters Screen) from the Reference Banks or the New York City banks as to LIBOR or the Reserve Interest Rate, as appropriate, in effect from time to time. The Trustee shall not have any liability or responsibility to any Person for (i) the Trustee's selection of New York City banks for purposes of determining any Reserve Interest Rate or (ii) its inability, following a good-faith reasonable effort, to obtain such quotations from the Reference Banks or the New York City banks or to determine such arithmetic mean, all as provided for in this Section 4.07. The establishment of LIBOR and each Pass-Through Rate for the COFI Certificates by the Trustee shall (in the absence of manifest error) be final, conclusive and binding upon each Holder of a Certificate and the Trustee.

  • Reductions in Class Principal Balances of the Notes On each Payment Date on or prior to the Termination Date, the Class Principal Balance of each Class of Original Notes will be reduced (in each case without regard to any exchanges of Original Notes for MAC Notes), without any corresponding payment of principal, by the amount of the reduction, if any, in the Class Notional Amount of the Corresponding Class of Reference Tranche due to the allocation of Calculated Tranche Write-down Amounts to such Class of Reference Tranche on such Payment Date pursuant to Section 3.03(b) above. If on the Maturity Date or any Payment Date a Class of MAC Notes is outstanding, all Calculated Tranche Write-down Amounts that are allocable to Original Notes that were exchanged for such MAC Notes will be allocated to reduce the Class Principal Balances or Notional Principal Amounts, as applicable, of such MAC Notes in accordance with the exchange proportions applicable to the related Combination.

  • Payment of Fund Monies Upon receipt of Proper Instructions, which may be continuing instructions when deemed appropriate by the parties, the Custodian shall pay out monies of the Fund in the following cases only:

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