Holdback Settlement Payment definition
Holdback Settlement Payment has the meaning given in Section 2.13(b). “HoldCo” has the meaning given in the preamble.
Examples of Holdback Settlement Payment in a sentence
The Holdback Settlement Payment shall be paid by wire transfer of immediately available funds to an account designated by the Seller.
Any portion of the Advance Holdback Amount outstanding after the Holdback Settlement Payment is made shall revert to the Purchaser and the Seller shall have no further rights to such portion.
For the avoidance of doubt, the Holdback Settlement Payment shall not include any portion of the Advance Holdback Amount attributable to Servicing Advances that have been reimbursed to the Purchaser pursuant to clause (y) of Section 2.14(a).