Enforcement Revenue Priority of Payments definition

Enforcement Revenue Priority of Payments. On each Payment Date, prior to the Current Issuer Security becoming enforceable pursuant to Clause 7.2 (Enforceable), the Note Trustee hereby authorises the Current Issuer or the Current Issuer Cash Manager in its place to withdraw Current Issuer Available Revenue Receipts standing to the credit of the Current Issuer Transaction Accounts and to apply such monies in accordance with the provisions and the order of priority of the Current Issuer Pre-Enforcement Revenue Priority of Payments (as the same may be amended or varied from time to time) as set out in Schedule 2 (Cash Management and Maintenance of Ledgers) to the Current Issuer Cash Management Agreement.
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Enforcement Revenue Priority of Payments means the order of priority in which Funding 1 Available Revenue Receipts will be applied by the Cash Manager prior to the enforcement of the Funding 1 Security as set out in Part 1 of Schedule 3 to the Funding 1 Deed of Charge;
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Enforcement Revenue Priority of Payments. On each Monthly Payment Date, prior to the Issuer Security becoming enforceable pursuant to Clause 6.2 (Enforceable), the Issuer Security Trustee hereby authorises the Master Issuer or the Issuer Cash Manager in its place to withdraw Issuer Available Revenue Receipts standing to the credit of the Issuer Transaction Accounts and to apply such monies in accordance with the provisions and the order of priority of the Issuer Pre-Enforcement Revenue Priority of Payments.
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Examples of Enforcement Revenue Priority of Payments in a sentence

  • The obligation to pay the Class A Excess Consideration is subordinated to payments of a higher order of priority including, but not limited to, any amount necessary to (i) make good any shortfall reflected in the Class A Principal Deficiency Ledger until the debit balance, if any, on the Class A Principal Deficiency Ledger is reduced to zero and (ii) replenish the Reserve Account up to the amount of the Reserve Account Target Level, in accordance with the Pre- Enforcement Revenue Priority of Payments.

  • Item (xviii) of the Pre- Enforcement Revenue Priority of Payments provides for the Non-Liquidity Reserve Fund Ledger to be credited up to the Liquidity Reserve Fund Required Amount on the relevant Interest Payment Date.

  • On each Notes Payment Date as from but excluding the First Optional Redemption Date, the Class A Noteholders will in accordance with the Pre- Enforcement Revenue Priority of Payments, on a pro rata and pari passu basis and in accordance with the amounts outstanding of the Class A Notes at such time, be entitled to the Class A Excess Consideration.

  • Item (vii) of the Pre- Enforcement Revenue Priority of Payments provides for the Liquidity Reserve Fund Ledger to be credited up to the Liquidity Reserve Fund Required Amount on the relevant Interest Payment Date.

  • Prior to the service of an Enforcement Notice, the Class X Notes rank pro rata and pari passu without preference or priority among themselves in relation to payment of interest and principal at all times, but subordinate to all payments due in respect of items ranking senior thereto in the Pre- Enforcement Revenue Priority of Payments, as provided in the Conditions and the Transaction Documents.

  • To the extent that Available Revenue Receipts (other than items (d), (e) and (f) of Available Revenue Receipts) are insufficient to pay items (a) to (l) inclusive of the Pre- Enforcement Revenue Priority of Payments in full (the amount of any deficit being a "Shortfall"), the Cash Manager will, on the relevant Interest Payment Date and on behalf of the Issuer, pay or provide for such Shortfall by applying amounts standing to the credit of the General Reserve Fund.

  • For the avoidance of doubt any residual balance following payment of all senior items in the Pre- Enforcement Revenue Priority of Payments or the Post- Enforcement Priority of Payments will first be payable to the holders of the X1 Notes, the X2 Notes and the Z Notes.

  • The members of the Audit and Valuation Committee shall be elected by the Board annually and serve until their successors shall be duly elected and qualified.

  • User U decrypts the message and concludes that it is indeed talking to Li, since only Li was able to decrypt U ’s initial message containing nonce N1 (Li is hence authenticated).

  • Available Revenue Receipts will be applied in accordance with the Pre- Enforcement Revenue Priority of Payments, as a credit to the Principal Deficiency Ledger.


More Definitions of Enforcement Revenue Priority of Payments

Enforcement Revenue Priority of Payments. On each Monthly Payment Date falling in a Monthly Payment Period, prior to the Issuer Security becoming enforceable pursuant to Clause 6.2 (Enforceable), the Issuer Security Trustee hereby authorises the Master Issuer or the Issuer Cash Manager in its place to withdraw Issuer Available Revenue Receipts standing to the credit of the Issuer Transaction Accounts that have been allocated towards the payments and provisions in respect of amounts due on that Monthly Payment Date in accordance with the rules and the order of priority of the Issuer Pre-Enforcement Revenue Priority of Payments and the provisions of the Issuer Cash Management Agreement and to apply such monies to the making of such payments and provisions.
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Enforcement Revenue Priority of Payments means the Master Issuer Pre- Enforcement Revenue Priority of Payments as defined in the Master Issuer Master Definitions and Construction Schedule; Master Issuer Start-Up Loan means a loan to be advanced by the Master Issuer Start-Up Loan Provider to the Master Issuer on a Closing Date following the Reorganisation Date pursuant to the Master Issuer Start-Up Loan Agreement dated such Closing Date; Master Issuer Start-Up Loan Agreement means each agreement to be entered into on a Closing Date following the Reorganisation Date between, among others, the Master Issuer and the Master Issuer Start-Up Loan Provider pursuant to which the Master Issuer Start-Up Loan Provider will advance a Master Issuer Start-Up Loan to the Master Issuer on such Closing Date; Master Issuer Start-Up Loan Provider means Bank of Scotland, in its capacity as provider of each Master Issuer Start-Up Loan to be advanced to the Master Issuer on a Closing Date following the Reorganisation Date pursuant to a Master Issuer Start-Up Loan Agreement;
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Related to Enforcement Revenue Priority of Payments

  • Priority of Payments The meaning specified in Section 11.1(a).

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • Post-Enforcement Priority of Payments means the order of priority pursuant to which the Guarantor Available Funds shall be applied on each Guarantor Payment Date, following the delivery of a Guarantor Default Notice, in accordance with the Intercreditor Agreement.

  • Collateral Agent Fees means the fees due to the Collateral Agent pursuant to the Collateral Agent and Collateral Custodian Fee Letter.

  • Discharge of Priority Lien Obligations means the occurrence of all of the following:

  • Priority Tax Claims means Claims of governmental units of the kind specified in section 507(a)(8) of the Bankruptcy Code.

  • First Priority Obligations means, collectively, (i) the Credit Agreement Secured Obligations, (ii) each Series of Other First-Priority Obligations and (iii) any other First-Priority Hedging Obligations and First-Priority Cash Management Obligations (which shall be deemed to be part of the Series of Other First-Priority Obligations to which they relate to the extent provided in the applicable Other First-Priority Agreement).

  • Collateral Agent Fee Letter means the fee letter between the Collateral Agent and the Borrower setting forth the fees and other amounts payable by the Borrower to the Collateral Agent, the Custodian and the Securities Intermediary under the Facility Documents, in connection with the transactions contemplated by this Agreement.

  • Enforcement Costs means court expenses, reasonable attorney fees of the attorney general, and other reasonable expenses of an executive department that are incurred in relation to enforcement under this part.

  • Enforcement Proceeds means the gross proceeds from the realisation of Vehicles in respect of Purchased Receivables and from the enforcement of any other Ancillary Rights.

  • Second Priority Obligations means (a) with respect to the Existing Second Priority Agreement, all “Secured Obligations” of each Loan Party as defined in the “Security Agreement” referred to in the Existing Second Priority Agreement and (b) with respect to each other Second Priority Agreement, (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all indebtedness under such Second Priority Agreement, and (ii) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable Second Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any First Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties hereunder, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Additional Collateral Documents as defined in the Base Intercreditor Agreement.

  • Senior Priority Obligations as defined in the Base Intercreditor Agreement.

  • Enforcement Expenses shall include all reasonable attorneys’ fees, court costs, transcript costs, fees of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other out-of-pocket disbursements or expenses of the types customarily incurred in connection with an action to enforce indemnification or advancement rights, or an appeal from such action. Expenses, however, shall not include fees, salaries, wages or benefits owed to Indemnitee.

  • Discharge of First Lien Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.

  • Priority Tax Claim means any Claim of a Governmental Unit of the kind specified in section 507(a)(8) of the Bankruptcy Code.

  • Senior Collateral Documents means the Security Agreement and the other “Collateral Documents” as defined in the Credit Agreement, the First Lien Intercreditor Agreement (upon and after the initial execution and delivery thereof by the initial parties thereto) and each of the collateral agreements, security agreements and other instruments and documents executed and delivered by the Borrower or any other Grantor for purposes of providing collateral security for any Senior Obligation.

  • Penalty Charge Notice means a notice described in Section 78 of the 2004 Act having effect as if issued or served by a Civil Enforcement Officer or posted by the enforcement authority under any regulations for the time being in force under Section 78 of the 2004 Act.

  • Penalty Charges means any amounts collected from the Borrower that represent default charges, penalty charges, late fees and/or default interest, but excluding any yield maintenance charge or prepayment premium.

  • Collateral Agent Fee means the fee payable to the Collateral Agent in arrears on each Quarterly Payment Date in an amount specified in the Collateral Agent Fee Letter.

  • Failed Bank Charge-Offs/Write-Downs means, with respect to any Shared- Loss Asset, an amount equal to the aggregate amount of reversals or charge-offs of Accrued Interest and charge-offs and write-downs of principal effected by the Failed Bank with respect to that Shared-Loss Asset as reflected on the Accounting Records of the Failed Bank.

  • Supplemental security income means the program authorized under title XVI of the social security act, 42 USC 1381 to 1383f.

  • Facility Charge means one percent (1%) of the Maximum Term Loan Amount.

  • Priority Lien Security Documents means the Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Borrower or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Substitute Credit Facility).

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Penalty Charge means a penalty charge which is payable by virtue of paragraph 3(1) and (2) of Schedule 3 to this Act;