Early Payments definition

Early Payments consists of all capacity payments made by Company to Cogenerator in excess of the amount of such payments that would have been made had such payments been scheduled to start in 1989 and escalate at a 7.07% annual rate. To secure the refund of such Early Payments, Cogenerator shall furnish a surety bond, or other security, which may include pledge or encumbrance of properties or fuel reserves, satisfactory to Company, on or before the date of Partial Commercial Operation in an amount equal to the maximum amount of Early Payments which could be made under this Agreement given the date of Partial Commercial Operation. Cogenerator may from time to time reduce the amount of its bond or other security to an amount equal to its then remaining potential liability for refund of Early Payments as specified in Exhibit 10.08.
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Early Payments as defined in Section 4.6.
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Examples of Early Payments in a sentence

  • However, Early Payments on any Assets for a Series on deposit in the Certificate Account that are not yet due to be passed through to Certificateholders on any Distribution Date may be remitted to the Distribution Account to offset delinquencies on other Assets for the same Series.

  • The Servicer shall maintain records with respect to its application of Early Payments.

  • If Early Payments on any Asset are used to offset delinquencies on other Assets, subsequent late recoveries of such delinquent amounts on such other Assets shall be treated by the Servicer as a restoration of the Early Payments used to offset such delinquent amounts and shall be deposited into the Certificate Account in accordance with Section 3.06(a) hereof.

  • Early Payments received by the Servicer shall be retained in the Certificate Account and transferred to the Distribution Account when and as if such Early Payments had otherwise been received by the Servicer as scheduled payments under the Assets.

  • If any Obligor fails to make a Monthly Payment by the related Remittance Date, the Servicer shall deposit such amount in the Distribution Account on or before such Remittance Date, as a "P&I Advance," unless the Servicer, in its reasonable judgment, determines that any such P&I Advance would be a Non-Recoverable Advance, or such Monthly Payment can be offset by Early Payments, as provided in Section 3.07(c) hereof.

  • Any Early Payments made by the NCAA or its insurers before the Third Payment is due shall be deducted from the amount due for the Third Payment.

  • If Early Payments on any Asset are used to offset delinquencies on other Assets, subsequent late recoveries of such delinquent amounts on such other Assets shall be treated by the Master Servicer as a restoration of the Early Payments used to offset such delinquent amounts and shall be deposited into the Certificate Account in accordance with Section 3.06(a) hereof.

  • The Master Servicer shall maintain records with respect to its application of Early Payments.

  • Any Early Payments made by the NCAA or its insurers before the Fourth Payment is due shall be deducted from the amount due for the Fourth Payment.

  • Early Payments received by the Master Servicer shall be retained in the Certificate Account and transferred to the Distribution Account when and as if such Early Payments had otherwise been received by the Master Servicer as scheduled payments under the Assets.

Related to Early Payments