Payment Cascade definition

Payment Cascade means the relevant order of payments set out in clause 9 of the Intercreditor Deed;
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Examples of Payment Cascade in a sentence

  • Subject to any earlier prepayment in accordance with clause 28.8(a) (Payment Cascade), each LC Loan shall be repaid in full on the FSRU Tranche Final Maturity Date.

  • If the Agent receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under the Finance Documents, the Agent shall apply that payment towards the obligations of the Borrower in accordance with the Payment Cascade.

  • If the Facility Agent receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrower under the Finance Documents, the Facility Agent shall apply that payment towards amounts due from the Borrower to the Finance Parties in the order of priority contemplated by the Payment Cascade.

  • Following the determination of the amount of the withdrawing Member’s allocable share of the Restructuring Payment, Cascade shall cause such amount to be paid in full to Cascade prior to allowing the Member to withdrawal from Cascade.

Related to Payment Cascade

  • Payment card means a credit card, charge card, debit card, or any other card that is issued to an authorized card user and that allows the user to obtain, purchase, or receive goods, services, money, or anything else of value from a merchant.

  • Premium payment plan means a benefit plan whereby school em- ployees may pay their share of group health plan premiums with pretax dollars as provided in the salary reduction plan under chapter 41.05 RCW pursuant to 26 U.S.C. Sec. 125 or other sections of the Internal Revenue Code.

  • Interim Payment has the meaning specified in Section 10.1.

  • Payment Claim means the claim for payment made by the Contractor in accordance with this Contract.

  • Payment Plan means the schedule of payment prescribed in Schedule C;