Collateral Payments definition

Collateral Payments means Eligible Funds, consisting of the proceeds from the sale of GNMA Certificates or other funds required to be paid by the Lender for the benefit of the Borrower in respect to the repayment of the Loan, to the Trustee for deposit into the Collateral Fund pursuant to the Loan Agreement and the Indenture as a prerequisite to the disbursement of money held in the Project Fund.

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Collateral Payments means Eligible Funds delivered to the Trustee, for the benefit of the Borrower, for deposit into the Collateral Fund pursuant to the Loan Agreement and this Indenture as a prerequisite to the advance of money from the Bond Proceeds Account.

Collateral Payments means Eligible Funds paid to the Trustee for the benefit of the Borrower with respect to the repayment of the Loan for deposit into the Collateral Fund pursuant to Section 4.02 of the Loan Agreement and Section 4.06 hereof as a prerequisite to the advance of money in the Project Fund.

Examples of Collateral Payments in a sentence

Such Collateral Payments, when so delivered to the Collateral Agent, shall continue to be collateral security for all of the Secured Obligations and shall not constitute payment thereof until applied as hereinafter provided.
The Lender shall give telephone notice, later confirmed in writing, to the Borrower in the event that it has deducted or intends to make deductions of Collateral Payments from the Collateral Account under clause (1).
In the event that an Event of Default (as defined in Section 5.1 hereof) or an event which with the passage of time or giving of notice, or both, would constitute such an Event of Default shall have occurred and be continuing, or the Collateral Account is attached or levied upon by a third-party through any legal proceeding or by order of any court or other authority having jurisdiction, all Collateral Payments shall be paid directly to the Lender and not to the Collateral Account.
A portion of the Seller Loan Proceeds may be used for application to Collateral Payments required under the Bond Documents.
HUD Mortgagee and/or Subordinate Lenders, at Borrower's direction, shall make the required Collateral Payments to permit the Trustee to disburse Bond Proceeds to be applied in accordance with the approved Disbursement Request at Initial Closing.

More Definitions of Collateral Payments

Collateral Payments means Eligible Funds paid for the benefit of the Borrower in respect to the repayment of the Loan, to the Trustee for deposit into the Collateral Fund pursuant to Section 4.2 of the Loan Agreement and Section 4.06 hereof as a prerequisite to the disbursement of money held in the Project Fund; provided that, such amounts shall not include proceeds of the Bonds.

Collateral Payments shall have the meaning ascribed to that term in Section 3 herein.

Collateral Payments shall have the meaning assigned thereto in SECTION 11(a) hereof.

Collateral Payments means all payments and other sums due or to become due with respect to any Warehouse Collateral.

Collateral Payments shall have the meaning assigned thereto in Section 11(a) hereof.

Collateral Payments shall not mean or include any cash amounts received or receivable by the Company or any Subsidiary Guarantor in respect of their use or operation of the Collateral in the ordinary course of business."

Collateral Payments means any cash amounts received by the Trustee, the Company or any Subsidiary Guarantor as payments in respect of the Collateral, whether resulting from a sale or transfer of Collateral (whether or not constituting an Asset Sale), from an Event of Loss, or from the enforcement or exercise of any rights of the Trustee or the Holders under any Collateral Documents, or otherwise constituting Collateral or the proceeds thereof; provided, however, that, so long as no Event of Default shall have occurred and be continuing, the term "Collateral Payments" shall not mean or include any cash amounts received or receivable by the Company or any Subsidiary Guarantor in respect of their use or operation of the Collateral in the ordinary course of business."