Loss Shortfall definition
Examples of Loss Shortfall in a sentence
If, following the occurrence of a Total Loss Event, the amount (if any) credited to the Transaction Account is less than the Full Reinstatement Value, the difference between such Full Reinstatement Value and the amount credited to the Transaction Account shall be the "Total Loss Shortfall Amount".
On the fifth Settlement Date following each Settlement Date on which the Parent makes a Loss Shortfall Payment (as defined in the Guaranty) to the Guarantor pursuant to Section 9(a) of the Guaranty, the Guarantor shall deposit or cause to be deposited in the Collection Account an amount equal to such Loss Shortfall Payment.
To the extent that there is no event against which a dividend or payment in applied, then Buyer shall roll the Loss Shortfall forward and apply it against the next Contingent Payment.
The aggregate of such amounts and any insurance proceeds and/or Total Loss Shortfall Amount are intended to be equal to the aggregate face amount of the Certificates together with all accrued and unpaid Periodic Distribution Amounts.
The calculation of the amount to be distributed as principal to any Class of Class B Certificates with respect to a Distribution Date (the "Calculated Principal Distribution") shall be made prior to the allocation of any Realized Loss Shortfall for such Distribution Date; provided, however, the actual payment of principal to the Class B Certificates shall be made subsequent to the allocation of Realized Loss Shortfalls for such Distribution Date.
To the extent any claim for indemnity hereunder is not otherwise satisfied by direct payment or the reduction of the next Contingent Payment payable (a “Loss Shortfall”), Buyer shall withhold and reduce any dividend or payment made to or in exchange for the Rollover Stock in an amount necessary to fully satisfy the Loss Shortfall.
This process may be repeated until the Loss Shortfall is fully satisfied.
The calculation of the amount to be distributed as principal to any Class of Class B Certificates with respect to a Distribution Date (the “Calculated Principal Distribution”) shall be made prior to the allocation of any Realized Loss Shortfall for such Distribution Date; provided, however, the actual payment of principal to the Class B Certificates shall be made subsequent to the allocation of Realized Loss Shortfalls for such Distribution Date.