Payment Ledger definition

Payment Ledger means the ledger of such name maintained by the Cash Manager pursuant to the Cash Management Agreement to record payments by or on behalf of the Guarantor in accordance with the terms of the Guarantor Agreement;
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Examples of Payment Ledger in a sentence

  • The Cash Manager shall ensure that all payments, and the Person to whom such payments are made and the source of such payments are recorded in the Payment Ledger at the appropriate time.

  • The Cash Manager shall take all reasonable steps to ensure that it receives a copy of the Payment Ledger in respect of the relevant month and a monthly bank statement in relation to each of the Guarantor LP Accounts and that it furnishes a copy of such statements to each of the Guarantor LP and the Bond Trustee.

  • The Cash Manager shall ensure that amounts shall be debited and credited to the Payment Ledger in accordance with paragraphs 3, 4 and 5 of this Schedule.

  • Subject to paragraph (f) of Schedule 1, prior to service of a Notice to Pay or an LLP Acceleration Notice on the LLP, the Cash Manager will procure that Available Revenue Receipts standing to the credit of the Payment Ledger on the GIC Account are applied on each LLP Payment Date in accordance with the Pre-Acceleration Revenue Priority of Payments (subject to, if an Asset Coverage Test Breach Notice has been served and has not been revoked, Clause 16 of the LLP Deed).

  • The Cash Manager shall take all reasonable steps to ensure that it receives a copy of the Payment Ledger in respect of the relevant month and to the extent there is activity in such accounts during such month a monthly bank statement in relation to each of the Guarantor Accounts and that it furnishes a copy of such statements to each of the Guarantor and the Bond Trustee.

  • Subject to paragraph (f) of Schedule 1, prior to service of a Notice to Pay or an LLP Acceleration Notice on the LLP, the Cash Manager will procure that Available Principal Receipts standing to the credit of the Payment Ledger on the GIC Account are applied on each LLP Payment Date in accordance with the Pre-Acceleration Principal Priority of Payments (subject to, if an Asset Coverage Test Breach Notice has been served and has not been revoked, Clause 16 of the LLP Deed).

  • The Cash Manager shall take all reasonable steps to ensure that it receives a copy of the Payment Ledger in respect of the relevant month and, to the extent there is activity in such accounts during such month, a monthly bank statement in relation to each of the Guarantor Accounts and that it furnishes a copy of such statements to each of the Guarantor and, upon request, the Bond Trustee.

  • The Cash Manager shall take all reasonable steps to ensure that it receives a copy of the Payment Ledger in respect of the relevant month and, to the extent there is activity in such accounts during such month, a monthly bank statement in relation to each of the Guarantor Accounts and that it furnishes a copy of such statements to each of the Guarantor and the Bond Trustee.

  • On each LLP Payment Date, the Cash Manager on behalf of the LLP will transfer funds from the relevant Ledgers on the GIC Account to the Payment Ledger on the GIC Account in accordance with Clause 15 (Allocation and Distribution of Principal Receipts prior to service of a Notice to Pay) of the LLP Deed.

  • On each LLP Payment Date, the LLP or the Cash Manager on its behalf will transfer Available Revenue Receipts from the Revenue Ledger and the Reserve Ledger, as applicable, to the Payment Ledger on the GIC Account in accordance with Clause 14 (Allocation and Distribution of Revenue Receipts prior to service of a Notice to Pay) of the LLP Deed.