Examples of Available Distribution Amount in a sentence
If a payment of interest or principal was not made under the Series Specific Loan when due or in the event of an early termination of the Series Specific Loan due to an event of default, any amounts that have, afterwards, been collected by the Servicers or an external debt collection agency on behalf of the Issuer, shall constitute or be part of the Available Distribution Amount that is payable to the Noteholders on the next Monthly Payment Date.
The Available Distribution Amount includes any Prepayment Premiums.© 2021 Computershare.
In case of Dutch Loans, the fees referred to under (i) and (ii) may only be claimed from Borrowers in in-court proceedings and will therefore be deducted from all amounts constituting the Available Distribution Amount which have been collected prior to in-court proceedings.
If the Issuer receive such late payment after close of business of the fifth Business Day that is preceding a relevant Monthly Payment Date, such amount will be on-transferred to the Noteholders as part of the Available Distribution Amount only on the following Monthly Payment Date (subject to any return or rejection of the relevant direct debit).
For the avoidance of doubt, if a payment is not made by the Issuer due to the Issuer not having received the relevant amounts from the Borrower under the Series Specific Loans so that the Available Distribution Amount on a Monthly Payment Date is zero, as set out in Conditions 6.1 and 6.2, the occurrence of such event shall, as such, not constitute an Event of Default under the Notes, which entitles the Noteholders to demand immediate repayment.