Aggregate Balance definition
Examples of Aggregate Balance in a sentence
The Recipient shall pay a service charge on the Aggregate Balance at the rate of three-fourths of one percent (3/4 of 1%) per annum, payable in arrears on each Payment Date.
If the Aggregate Balance is a positive amount, Ralcorp shall pay such positive amount to Post as soon as practicable following Ralcorp’s delivery to Post of the written notice thereof.
If the Aggregate Balance is a negative amount, Post shall pay such negative amount to Ralcorp as soon as practicable following Post’s receipt of the written notice thereof.
Notwithstanding the foregoing, if any amount of the Aggregate Balance remains unpaid when due and such non-payment continues for a period of thirty days, then the Recipient shall pay the Default Interest Rate on such overdue amount in lieu of the interest rate specified above in this subparagraph (ii) until such overdue amount is fully paid.
On any Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is less than 10% of the Aggregate Balance as of the Cut-off Date, and the amount on deposit in the Prefunding Account on the Closing Date, the Servicers will have the option to repurchase, in whole, from the Trust Fund all remaining Mortgage Loans and all property acquired in respect of the Mortgage Loans at a purchase price determined as provided in the Agreement.