Waterfall Sample Clauses
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Waterfall. (a) Prior to the occurrence of a Termination Event and in accordance with Schedule 5 (Purchase Price), the Available Amount in the relevant Eligible Currency (increased by any Available Amount in any other Eligible Currency, to the extent that all payments or the allocations from such Available Amount have been fully made, converted on the basis of the relevant Exchange Rate) shall be applied, on each Settlement Date to the payments or allocations to be made by each Servicer on behalf of itself and the relevant Originator in the following order of priority to the extent that the payments or the allocations ranking higher have been made in full:
(i) to pay all liabilities then due and payable on account of any Tax and VAT due by such Originator or Servicer denominated in such Eligible Currency in relation to the Programme;
(ii) to pay the Costs (other than any Servicing Fee) then due and payable to the Transaction Administrator and the Purchaser denominated in such Eligible Currency;
(iii) to allocate in or towards having such Servicer retain an amount equal to its Servicing Fee due by the Purchaser in such Eligible Currency;
(iv) to pay the Indemnities denominated in such Eligible Currency that were left unpaid by such Originator and/or such Servicer;
(v) to allocate in or towards having such Originator retain an amount equal to the Minimum Initial Purchase Price in such Eligible Currency;
(vi) to pay any repurchase price to the Purchaser pursuant to paragraph 7(a) of Clause 7 (Repurchase Option);
(vii) to allocate in or towards having such Originator retain an amount equal to the Decrease of the ▇▇▇▇ in such Eligible Currency;
(viii) to pay any other amount denominated in such Eligible Currency due to the Purchaser that is left unpaid;
(ix) to allocate in or towards having such Originator retain an amount equal to Incremental Initial Purchase Price in such Eligible Currency;
(x) to cover the amount in such Eligible Currency of any Shortfall (other than a Shortfall in such Eligible Currency); and
(xi) to allocate in or towards payment by the Purchaser to such Originator of the Instalment of GDPP in such Eligible Currency.
(b) After the occurrence of a Termination Event and in accordance with Schedule 5 (Purchase Price), the Available Amount in the relevant Eligible Currency (increased by any Available Amount in any other Eligible Currency, to the extent that all payments or the allocations from such Available Amount have been fully made, converted on the b...
Waterfall. After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Secured Obligations shall, subject to the provisions of Sections 2.14 and 2.15, be applied by the Administrative Agent in the following order: First, to payment of that portion of the Secured Obligations constituting fees, indemnities, expenses and other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; Second, to payment of that portion of the Secured Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer (including fees and time charges for attorneys who may be employees of any Lender or the L/C Issuer)) arising under the Loan Documents and amounts payable under Article III, ratably among them in proportion to the respective amounts described in this clause Second payable to them; Third, to payment of that portion of the Secured Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Secured Obligations arising under the Loan Documents, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them; Fourth, to payment of that portion of the Secured Obligations constituting unpaid principal of the Loans, L/C Borrowings and Secured Obligations then owing under Secured Hedge Agreements and Secured Cash Management Agreements and to the Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrower pursuant to Sections 2.03 and 2.14, in each case ratably among the Administrative Agent, the Lenders, the L/C Issuers, the Hedge Banks and the Cash Management Banks in proportion to the respective amounts described in this clause Fourth held by them; and Last, the balance, if any, after all of the Secured Obligations have been ind...
Waterfall. (a) Subject to the provisions of this Agreement, all payments made by or on behalf of a US Borrower before the exercise of any rights arising under Article X, or otherwise, shall be applied by the Administrative Agent in each instance in the following order:
(i) first, in payment of any amounts due and payable as and by way of recoverable expenses hereunder;
(ii) second, in payment of any interest, default interest or fees then due and payable on or in respect of the US Loans;
(iii) third, in repayment of any principal amounts of the US Loans; and
(iv) fourth, in payment of any other US Obligations then due and payable by the Borrowers hereunder or in connection herewith.
(b) Subject to the provisions of this Agreement, all payments made by or on behalf of a Canadian Borrower before the exercise of any rights arising under Article X, or otherwise, shall be applied by the Canadian Funding Agent in each instance in the following order:
(i) first, in payment of any amounts due and payable as and by way of recoverable expenses hereunder;
(ii) second, in payment of any interest, default interest or fees then due and payable on or in respect of the Canadian Loans;
(iii) third, in repayment of any principal amounts of the Canadian Loans; and
(iv) fourth, in payment of any other Canadian Obligations then due and payable by the Borrowers hereunder or in connection herewith.
(c) All payments made by or on behalf of the US Borrowers after the exercise of any rights arising under Article X shall be applied by the Administrative Agent in each instance in the following order:
(i) first, in payment of the reasonable costs and expenses of any realization against a US Borrower or of its property and assets, including the reasonable out-of-pocket expenses of the Agents, the Issuing Banks and Lenders and the reasonable fees and out-of-pocket expenses of counsel, consultants and other advisers employed in connection therewith and in payment of all costs and expenses incurred by the Agents, the Issuing Banks and Lenders in connection with the administration and enforcement of this Agreement or the other Documents, to the extent that those funds, costs and expenses shall not have been reimbursed to the Agents, the Issuing Banks and Lenders;
(ii) second, in payment of any interest, default interest or fees then due and payable on or in respect of the Loans;
(iii) third, in repayment of any principal amounts of the Loans and any outstanding Hedging Obligations that constitute Obl...
Waterfall. Notwithstanding anything in this Agreement to the contrary, the priorities set forth in Section 10.2 shall not apply to any and/or all of SVB’s present and future rights (whether described as rights of setoff, banker’s liens, chargeback or otherwise, and whether available to SVB under the law or under any other agreement between SVB and Borrower concerning any account maintained by Borrower with SVB or any of its affiliates (“Account”)) with respect to: (i) the face amount of a check, draft, money order, instrument, wire transfer of funds, automated clearing house entry, credit from a merchant card transaction, other electronic transfer of funds or other item (x) deposited in or credited to any Account and returned unpaid or otherwise uncollected or subject to an adjustment entry, whether for insufficient funds or for any other reason and without regard to the timeliness of the return or adjustment or the occurrence or timeliness of any other person’s notice of nonpayment or adjustment, (y) subject to a claim against SVB for breach of transfer, presentment, encoding, retention or other warranty under Federal Reserve Regulations or Operating Circulars, clearing house rules, the UCC or other applicable law, or (z) for a merchant card transaction, against which a contractual demand for chargeback has been made; (ii) service charges, fees or expenses payable or reimbursable SVB in connection with any Account or any related services; and (iii) any adjustments or corrections of any posting or encoding errors, for which SVB shall be senior to each other Lender.
Waterfall. (a) Net Cash Flow from the Total Project, excluding the Urban Park, shall be distributed monthly, or as shall otherwise be agreed by OSEG and the City as a “Major Decision” under the Master GP Shareholder’s Agreement, in accordance with the following priorities:
(i) (A) to each of OSEG and the City, a return from and after the Closing Date on the outstanding amount from time to time of the Equity and the City Funding Equity, respectively, at the rate of eight percent (8%) per annum, on a cumulative, but not compounded basis (minus in the case of OSEG, the Initial Investment Income); or
Waterfall. No such proceeds or amounts shall be applied in payment of any amounts specified in any of the paragraphs in Clause 29.5 (Proceeds of Enforcement) until all amounts specified in any earlier paragraph have been paid in full.
Waterfall. Linn LLC will have a waterfall consistent with the following: (i) an amount equal to the Company Group Emergence Value will first be allocated/distributed to holders of equity other than Class I Units (“Other Equity Holders”); (ii) an amount equal to the Aggregate Priority Catchup (as defined below) will be allocated/distributed to holders of Class I Units (“Class I Unit Holders”); and (iii) residual amounts will be allocated/distributed to Other Equity Holders and Class I Unit Holders relative their respective aggregate distribution percentages (i.e., 96.5% to Other Equity Holders and 3.5% to Class I Units Holders, if all Class I Units are issued and outstanding). For this purpose, the “Aggregate Priority Catchup” is equal to the amount distributed to Other Equity Holders pursuant to clause (i), divided by the aggregate distribution percentage applicable to Other Equity Holders.
Waterfall. ▇▇▇▇▇ Fargo will apply the following waterfall, in the order listed below, until an Eligible Borrower’s Monthly Payment reaches a DTI of 31%. The DTI may be slightly higher than 31% if the next step or action within the waterfall will result in a DTI below 31%. Once a DTI as close as possible to 31% is reached, ▇▇▇▇▇ Fargo will not apply any additional steps in the waterfall, nor actions within a step. If any step in the waterfall is already achieved, ▇▇▇▇▇ Fargo will proceed to the subsequent step. If all steps of the waterfall have been exhausted and a DTI of 31% can not be achieved, ▇▇▇▇▇ Fargo is not required to offer a MAP2R modification. Following application of the waterfall all loans must pass the NPV test (as outlined in Section V.B.3) before a MAP2R modification must be offered.
a. Waive all Accrued Interest, outstanding late charges, and outstanding fees.
b. Escrow-related Advances, and Corporate and Default-Related Advances will first be capitalized, then immediately and permanently forgiven. If this forgiveness combined with the waiver of all Accrued Interest, outstanding late charges, and outstanding fees in Section “V.B.1.a.” does not equal a number that represents ten
Waterfall. Prior to the occurrence and continuance of an Event of Default, all payments received by Administrative Agent under the Loan Documents shall be applied, (i) first, to pay Obligations in respect of any documented cost or expense reimbursements, fees or indemnities then due to Administrative Agent pursuant to this Agreement, any Loan Document or the Environmental Indemnity Agreement, (ii) second, to pay Default Rate interest or late charges, (iii) third, to pay interest then due and payable calculated at the Contract Rate, (iv) fourth, to principal payments due under the Loan and to any Obligations under the Secured Hedge Agreements, (v) fifth, to any reserves, escrows or other impounds required to be maintained pursuant to the Loan Documents, (vi) sixth, to any Exit Fee then due, and (vii) seventh, to the ratable payment of all other Obligations; provided, however, that any prepayments made (A) with respect to an Exiting Project shall be applied to the Allocated Loan Amount for the affected Project and accrued and unpaid interest thereon and (B) to cure a Financial Covenant Breach shall be applied pro rata to all of the Allocated Loan Amounts. Upon the occurrence and continuance of an Event of Default, all payments shall be applied in such order as Administrative Agent shall determine in its sole discretion. Notwithstanding anything herein to the contrary, if at any time following an Event of Default or acceleration of the Obligations or on or after the Maturity Date, Administrative Agent applies any payments received or the proceeds of any Collateral to principal payments on the Loan, Administrative Agent shall apply such payments or proceeds pro rata between such principal payments on the Loan and the Obligations under the Secured Hedge Agreements based on the outstanding principal balance of the Loan and the Obligations under Secured Hedge Agreements.
Waterfall. Withdrawals from the Vessels Collection Account may only be made for the following purposes and in the following order of priority to: First: pay fees (including any Services Fees) due and payable under the Omega Technical Ship Management Services Agreement and other technical ship management services agreements with third parties;