Arrears Amount definition

Arrears Amount means any amount in arrears due by the Debtor in respect of any Performing Receivable under the terms of the relevant Auto Loan Contract;
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Examples of Arrears Amount in a sentence

  • METATEC shall pay USPC the Arrears Amount with interest at 6%/annum calculated from July 31, 2002 in installments as set forth in the attached payment schedule labelled "ARREARS PAYMENT SCHEDULE - METATEC - AUGUST 9, 2002".

  • The Bank may calculate interest in respect of any of the Arrears Amounts at a rate that is lower than the rate of Default Interest in respect of the Arrears Amount set forth in this Section above, as the case may be, in respect of all or some of the period of the arrears in repayment of all or some of the Arrears Amounts, as the case may be, in each case at the discretion of the Bank (hereinafter: the “Reduced Default Interest in Respect of the Arrears Amount”).

  • Tenant shall pay the Total Arrears Amount to District on or before June 30, 2026 (“Arrears Payment Deadline”).

  • It is clarified that the calculation of Reduced Default Interest in Respect of any Arrears Amount and any period will not require the Bank to continue calculating Reduced Default Interest in respect of any additional amount or any additional period and the Bank may, at any time, revert to charging interest in respect of any Arrears Amounts at the rate of Default Interest set forth under this Section above, at its discretion, for any reason and without being required to give prior notice of this.

  • In the event Tenant fails to pay District the Total Arrears Amount by the Arrears Payment Deadline, District shall have the right to immediately terminate this Lease, and all sums due under this Agreement shall immediately become due and owing.

  • Any payment that has been made by the Lessee to the Company in respect of a debt that is in arrears will be divided and appropriated proportionately against the components of the debt that is in arrear, i.e. the Annual Interest component, linkage differentials and the component of the Arrears Amount.

  • It is agreed by the parties that in respect of any sum that the Lessee will fail to pay on due date (hereinafter: “the Arrears Amount”) the Lessee is bound to pay the Company, in addition to the Arrears Amount that will be linked pursuant to the provisions of this Agreement until the actual date of payment, interest also at the rate of 10% per annum (hereinafter: “the Annual Interest”) from the date on which the debt arises until the date on which the payment is actually paid.

  • The Loan Principal, the Arrears Amount and each form of interest will be fully unlinked.

  • Tenant, at its option, may pay an amount more than the Monthly Arrears Payment with any excess amount applied towards the Total Arrears Amount.

Related to Arrears Amount

  • Accrued Interest Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month’s interest on the applicable Principal Deficiency Amount at the Net WAC of the applicable Loan Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

  • Adjusted Actual/360 Accrued Interest Amount with respect to any REMIC I Regular Interest referred to in clause (B) of the second sentence of the prior paragraph, for any Interest Accrual Period, is an amount of interest equal to the product of (a) the Net Mortgage Rate then in effect (including as a result of any step-up provision) for the related Mortgage Loan under the original terms of such Mortgage Loan in effect as of the Closing Date (without regard to any modifications, extensions, waivers or amendments of such Mortgage Loan subsequent to the Closing Date, whether entered into by the Master Servicer or the Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower), multiplied by (b) a fraction, the numerator of which is the number of days in such Interest Accrual Period, and the denominator of which is 360, multiplied by (c) the Uncertificated Principal Balance of such REMIC I Regular Interest immediately prior to the Distribution Date that corresponds to such Interest Accrual Period; provided that, if the subject Interest Accrual Period occurs during (x) December of any year that does not immediately precede a leap year or (y) January of any year, then the amount of interest calculated with respect to the subject REMIC I Regular Interest pursuant to this definition for such Interest Accrual Period without regard to this proviso shall be decreased by the Interest Reserve Amount, if any (and the fraction described in clause (B) of the second sentence of the preceding paragraph shall be adjusted accordingly), with respect to the related Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) transferred, in accordance with Section 3.04(c), from the Distribution Account to the Interest Reserve Account on the Master Servicer Remittance Date that occurs immediately following the end of such Interest Accrual Period; and provided, further, that, if the subject Interest Accrual Period occurs during February of any year (or during any December or January preceding the month of the Final Distribution Date), then the amount of interest calculated with respect to the subject REMIC I Regular Interest pursuant to this definition for such Interest Accrual Period without regard to this proviso shall be increased by the Interest Reserve Amount(s), if any (and the fraction described in clause (B) of the second sentence of the preceding paragraph shall be adjusted accordingly), with respect to the related Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) transferred, in accordance with Section 3.05(c), from the Interest Reserve Account to the Distribution Account on the Master Servicer Remittance Date that occurs immediately following the end of such Interest Accrual Period.

  • M&O Amount means the revenue protection payment required as part of this Agreement as set out in TEXAS EDUCATION CODE Section 48.256(d) and shall have the meaning assigned to such term in Section 4.2 of this Agreement.

  • Non-Payment Period Rate means, initially, 200% of the applicable Reference Rate (or 275% of such rate if the Corporation has provided notification to the Auction Agent prior to the Auction establishing the Applicable Rate for any dividend pursuant to paragraph 2(f) hereof that net capital gains or other taxable income will be included in such dividend on shares of AMPS), provided that the Board of Directors of the Corporation shall have the authority to adjust, modify, alter or change from time to time the initial Non-Payment Period Rate if the Board of Directors of the Corporation determines and Moody's and S&P (and any Substitute Rating Agency in lieu of Moody's or S&P in the event either of such parties shall not rate the AMPS) advise the Corporation in writing that such adjustment, modification, alteration or change will not adversely affect their then-current ratings on the AMPS.

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 2 Pass-Through Rate applicable to REMIC 2 Regular Interest LTZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC 2 Regular Interest LTZZ minus the REMIC 2 Overcollateralization Amount, in each case for such Distribution Date, over (b) the sum of the Uncertificated Accrued Interest on REMIC 2 Regular Interest LTAV1, REMIC 2 Regular Interest LTAV2, REMIC 2 Regular Interest LTAV3, REMIC 2 Regular Interest LTAF1, REMIC 2 Regular Interest LTAF2, REMIC 2 Regular Interest LTAF3, REMIC 2 Regular Interest LTAF4, REMIC 2 Regular Interest LTAF5, REMIC 2 Regular Interest LTAF6, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8 and REMIC 2 Regular Interest LTM9, with the rate on each such REMIC 2 Regular Interest subject to a cap equal to the Pass-Through Rate for the related Corresponding Certificate for the purpose of this calculation; provided, however, that for this purpose, calculations of the Uncertificated REMIC 2 Pass-Through Rate and the related caps with respect to each such REMIC 2 Regular Interest for which the Corresponding Certificate is a Group I Certificate shall be multiplied by a fraction, the numerator of which is the actual number of days elapsed in the related Interest Period and the denominator of which is 30.