Partial Payoff definition

Partial Payoff has the meaning assigned to that term in Section 5.2.
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Partial Payoff has the meaning set forth in the Separation and Distribution Agreement, dated [ ● ], 2021, by and between Florida and [New Louisiana I].
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Examples of Partial Payoff in a sentence

  • To the extent that the sum of any remaining excess, the Payahead Balance and one payment can be applied to prepay the Precomputed Receivable in full, such remaining excess shall constitute a partial payoff of such Precomputed Receivable ( a "Partial Payoff").

  • The obligation of the Company to consummate the Split-Off is subject to the occurrence of (i) the Closing in accordance with the terms of the Merger Agreement and (ii) the Partial Payoff, including the release of any and all Encumbrances on the SplitCo Assets in connection therewith, in accordance with the terms of the Payoff Letter.

  • Titan and Borrowers will provide to Lender evidence of the source of the Partial Payoff Amount in form, substance and detail acceptable to Lender in its sole discretion, all on or before 12:00 Noon (Kansas City, Missouri local time) November 25, 2008.

  • Excepting any professional fees of Buyer, Sellers shall bear, without duplication, all of the fees, costs and expenses associated with the matters contemplated by this Section 6.20(a), including all Partial Payoff Amounts (by virtue of all such Partial Payoff Amounts being included in the calculation of Closing Indebtedness).

  • To the extent that the sum of any remaining excess, the Payahead Balance and one payment can be applied to prepay the Precomputed Receivable in full, such remaining excess shall constitute a partial payoff of such Precomputed Receivable (a "Partial Payoff").

  • Upon receipt, the Partial Payoff Amount will first be applied against outstanding Special Advances and thereafter, to other any other indebtedness of Borrower to Lender, all in such order and manner as Lender determines in its sole discretion.

  • In reliance upon the representations, warranties and covenants of the Loan Parties expressly set forth in this Amendment No. 1, and subject to the express terms and conditions of this Amendment No. 1, upon the Amendment Effective Date, The Bank of Nova Scotia hereby fully and irrevocably waives its right under Section 3.2 of the Loan Agreement to receive a pro rata portion of the Partial Payoff Amount and disclaims any rights to the Partial Payoff Amount (collectively, the “Waiver”).

  • In no event will the Partial Payoff Amount be sourced from (i) new indebtedness except as described above or (ii) funds from the operations of Borrowers.

Related to Partial Payoff

  • Partial Payment means a payment that is insufficient to discharge all amounts then due and payable under the Finance Documents.

  • Partial Prepayment Amount means the amount required to prepay a portion of the Annual Special Tax obligation for an Assessor’s Parcel as described in Section H.

  • Partial Prepayment Any payment of principal on a Mortgage Loan, other than a Full Prepayment, which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.

  • Class B-5 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-5 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-5 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-5 Prepayment Percentage for such Distribution Date will be zero.

  • Subordinate Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.