Payment Cap definition

Payment Cap. For each Mortgage Loan, the percentage limit set forth in the related Mortgage Note concerning the maximum permitted increase in a monthly payment.

Payment Cap means the maximum amount described in Section 6.12(b) hereof.

Payment Cap means the maximum amount which may be paid to Employee under the terms of this Agreement without subjecting Employee to the Excise Tax.

Examples of Payment Cap in a sentence

• Payment Cap: Notwithstanding any renewal, the City’s payment obligations under this Contract shall not exceed: {---Payment Cap---} (the “Payment Cap”) absent a written amendment executed by the City.

• Notwithstanding anything to the contrary contained herein, if a termination occurs prior to issuance of NTP2, the total amount payable to the Contractor shall in no event exceed the NTP1 Payment Cap.

• In the event Executive receives reduced payments and benefits as a result of application of this Section 8, Executive shall have the right to designate which of the payments and benefits otherwise set forth herein (or any other agreement between the Company and Executive or any incentive arrangement or plan offered by the Company) shall be received in connection with the application of the Payment Cap, subject to the following sentence.

• In the event that Executive receives reduced payments and benefits hereunder, Executive shall have the right to designate which of the payments and benefits otherwise provided for in this Agreement that he will receive in connection with the application of the Payment Cap.

• If the Contractor performs any Work in excess of the NTP1 Payment Cap, it does so at its own risk.

More Definitions of Payment Cap

Payment Cap means the maximum amount you will pay under this Agreement, not including fees and collection costs.

Payment Cap means the maximum amount you will pay under this ISA, not including fees and collection costs.

Payment Cap means, on any given day, an amount equal to 48% of the notional amount of this Security outstanding as of such day.

Payment Cap. With respect to each negative amortization loan and each Payment Adjustment Date, the amount (expressed as a percentage) by which the Monthly Payment on such negative amortization loan due in the month preceding such Payment Adjustment Date is multiplied for purposes of calculating the maximum amount to which the Monthly Payment may be adjusted, as identified as such on the Mortgage Loan Schedule. Payment Date: The 25th day of each month, or if such day is not a Business Day, then the next Business Day, commencing on May 26, 1998.

Payment Cap. With respect to any Mortgage Loan, the limit, if any, contained in the related Mortgage Note restricting the adjustment of the related Scheduled Monthly Payment on any Payment Adjustment Date, as indicated on the Mortgage Loan Schedule. PCAOB: The Public Company Accounting Oversight Board.

Payment Cap has the meaning accorded such term in Section 4.01.

Payment Cap means the maximum amount of money a consumer may be required to pay to satisfy the consumer’s payment obligation under an income share agreement.