Net Payment. With respect to any Distribution Date on or prior to the Swap Contract Termination Date, an amount equal to the sum of (i) any Current Interest and Interest Carry Forward Amounts in respect of the Benefited Certificates, (ii) any Net Rate Carryover in respect of the Benefited Certificates, (iii) any Unpaid Realized Loss Amounts in respect of the Benefited Certificates and (iv) any Overcollateralization Deficiency Amount, in each case remaining unpaid (or in the case of Overcollateralization Deficiency Amount, remaining) following the distribution to the Benefited Certificates of Excess Cashflow and Credit Comeback Excess Cashflow pursuant to Section 4.04(c) of the Pooling and Servicing Agreement. With respect to any Distribution Date after the Swap Contract Termination Date, zero.
Net Payment. For any Distribution Date, (a) with respect to any payment received by the Corridor Contract Administrator from the Counterparty in respect of the Corridor Contract for such Distribution Date (other than any payment in respect of an early termination of the Corridor Contract), an amount equal to the product of (i) the excess, if any, of (x) LIBOR, over (y) the related Strike Rate, (ii) the lesser of (x) the related Notional Balance for such Distribution Date and (y) the aggregate Certificate Principal Balance of the Benefited Certificates immediately prior to such Distribution Date and (iii) the Day Count Fraction, and (b) with respect to any payment received by the Corridor Contract Administrator from the Counterparty in respect of an early termination of the Corridor Contract received during the period from and including the immediately preceding Distribution Date to and excluding the day immediately preceding the current Distribution Date, an amount equal to the product of (i) a fraction, the numerator of which is equal to the lesser of (x) the related Notional Balance for the first Distribution Date on or after the early termination of the Corridor Contract and (y) the aggregate Certificate Principal Balance of the Benefited Certificates immediately prior to the first Distribution Date on or after the early termination of the Corridor Contract, and the denominator of which is equal to the related Notional Balance for the first Distribution Date on or after the early termination of the Corridor Contract and (ii) the amount of such payment received in respect of such early termination. Notwithstanding the foregoing, in the event that the aggregate Certificate Principal Balance of the Benefited Certificates is reduced to zero prior to the termination of the Corridor Contract, the Net Payment for any Distribution Date following the Distribution Date on which the aggregate Certificate Principal Balance of the Benefited Certificates is reduced to zero shall be $0.
Net Payment means the amount the Issuer or any paying agent pays the Holder after deducting or withholding an amount for or on account of any present or future tax, assessment or other governmental charge imposed with respect to that payment by a taxing authority (including any withholding or deduction attributable to additional amounts payable pursuant to this Section).
Examples of Net Payment in a sentence
The Net Payment Due the CONTRACTOR shall be the above-mentioned subtotal from which shall be deducted the total amount of all previous payments made to the CONTRACTOR.
If you compare Surrender Cost Indexes and Net Payment Cost Indexes of similar competing policies, your chances of finding a relatively good buy will be better than if you do not shop.
The Life Insurance Net Payment Cost Index is calculated in the same manner as the comparable Life Insurance Cost Index except that the cash surrender value and any terminal dividend are set at zero.
The Net Payment Due to the CONTRACTOR shall be the above-mentioned sub-total, from which shall be deducted the retainage amount and the total amount of all previous payments made to the CONTRACTOR.
The Net Payment Due to the CONTRACTOR shall be the above- mentioned subtotal from which shall be deducted the amount of retainage specified in the Contract, and the total amount of all previous approved Applications for Progress Payment submitted by the CONTRACTOR.
More Definitions of Net Payment
Net Payment means the total amount charged for taxable property or services, excluding the taxes imposed by this chapter.
Net Payment. For any Payment Date, (a) with respect to any payment received by the Cap Contract Administrator from the Counterparty in respect of the Cap Contract for such Payment Date (other than any payment in respect of an early termination of the Cap Contract), an amount equal to the product of (i) the excess, if any, of (x) LIBOR, over (y) the related Strike Rate, (ii) the lesser of (x) the related Notional Balance for such Payment Date and (y) the Note Principal Balance of the Benefited Notes immediately prior to such Payment Date and (iii) the Day Count Fraction, and (b) with respect to any payment received by the Cap Contract Administrator from the Counterparty in respect of an early termination of the Cap Contract received during the period from and including the immediately preceding Payment Date to and excluding the day immediately preceding the current Payment Date, an amount equal to the product of (i) a fraction, the numerator of which is equal to the lesser of (x) the related Notional Balance for the first Payment Date on or after the early termination of the Cap Contract and (y) the Note Principal Balance of the Benefited Notes immediately prior to the first Payment Date on or after the early termination of the Cap Contract, and the denominator of which is equal to the related Notional Balance for the first Payment Date on or after the early termination of the Cap Contract and (ii) the amount of such payment received in respect of such early termination. Notwithstanding the foregoing, in the event that the Note Principal Balance of the Benefited Notes is reduced to zero prior to the termination of the Cap Contract, the Net Payment for any Payment Date following the Payment Date on which the Note Principal Balance of the Benefited Notes is reduced to zero shall be zero.
Net Payment. With respect to any Distribution Date on or prior to the Swap Contract Termination Date, an amount equal to the sum of (i) any Current Interest and Interest Carry Forward Amounts in respect of the Benefited Certificates, (ii) any Net Rate Carryover in respect of the Benefited Certificates, (iii) any Unpaid Realized Loss Amounts in respect of the Benefited Certificates and (iv) any Adjustable Rate Overcollateralization Deficiency Amount, in each case remaining unpaid (or in the case of Adjustable Rate Overcollateralization Deficiency Amount, remaining) following the distribution to the Benefited Certificates of Adjustable Rate Loan Group Excess Cashflow and Adjustable Rate Credit Comeback Excess Cashflow pursuant to Section 4.04(c) of the Pooling and Servicing Agreement. With respect to any Distribution Date after the Swap Contract Termination Date, zero.
Net Payment means the amount the Company or the Company’s paying agent pays after deducting or withholding an amount for or on account of any present or future tax, assessment or other governmental charge imposed with respect to that payment by a U.S. Taxing Authority.
Net Payment means the amount the Company, any Guarantor or their paying agent pays a Holder after deducting or withholding by the applicable withholding agent of an amount for or on account of any present or future tax, assessment or other governmental charge imposed with respect to that payment by a taxing authority (including any withholding or deduction attributable to additional amounts payable hereunder).
Net Payment. With respect to any Distribution Date on or prior to the Swap Contract Termination Date, an amount equal to the sum of (i) any Current Interest and Interest Carry Forward Amounts in respect of the Benefited Certificates, (ii) any Net Rate Carryover in respect of the Benefited Certificates, (iii) any Unpaid Realized Loss Amounts in respect of the Benefited Certificates and (iv) any remaining Overcollateralization Deficiency Amount, in each case remaining unpaid following the distribution to the Benefited Certificates of Excess Cashflow pursuant to Section 4.02(c)(i) through (iv) of the Pooling and Servicing Agreement. With respect to any Distribution Date after the Swap Contract Termination Date, zero.
Net Payment has the meaning set forth in Section 4.12(a).