Payoff Balance definition

Payoff Balance means the amount required to satisfy a Receivable in full, which amount includes the unpaid principal balance, accrued and unpaid interest due on the account, advances on the account and any other costs as applicable.
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Payoff Balance precedently and subsequently used in this Agreement shall include, but not be limited to, the current principal balance due and owing figured based upon the Rule of 78s/Simple Interest plus any interest and/or late charges due and owing, plus any insurance premiums for insurance added to any CONTRACTS, plus all collection costs, plus repossession fees, plus non sufficient funds charges, plus lien expenses or costs, plus attorney’s fees and Court costs, if any.
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Examples of Payoff Balance in a sentence

  • In addition to such other obligations Dealer may have, Dealer agrees to pay RLS, upon demand, the full unpaid Payoff Balance of a Contract, which may include any interest and/or late charges due and owing, plus any repossession and/or collection fees and costs, plus insurance premiums, plus any miscellaneous fees, costs, and/or charges related to that Contract (“Payoff Balance”).

  • Accord, Wells Fargo and Client agree that the Factoring Agreement and all ▇▇▇▇▇ agreements and amendments thereto between Accord and Client providing for the purchase and/or collateral assignment, and all other financing facilities between Accord and Client, are terminated by the payment to Accord of the Payoff Balance.

  • Royal Grip shall not at any time allow the difference between the then applicable "End of the Month Payoff Balance", as described in Exhibit A of the Capital Lease Agreement, and Royal Grip's trade payables owed to Acushnet Rubber Company, to be less than $500,000.00.

  • If no Event of Default exists, Lessee may at any time during the term of this Lease, by written notice delivered to Lessor, elect to purchase all (but not less than all) of the Units for a purchase price (the "Capital Lease Option Balance") equal to corresponding "End of Month Payoff Balance" described in the attached Exhibit A.

  • Sincerely, Lease Services Puget Sound Energy [DATE] [CUSTOMER NAME] [▇▇▇▇▇▇▇ ADDRESS] Lease Equipment: [EQUIPMENT NUMBER] Service Address: [SERVICE ADDRESS] Account Number: [ACCOUNT NUMBER] Remaining Payoff Balance: [$XXX.xx] Dear Valued Customer, The purpose of this letter is to inform you of changes to PSE’s gas water heater rental service.

  • At the Cutoff Date, the Payoff Balance of each Receivable set forth in the Schedule of Receivables is true and accurate in all material respects.

  • The Payoff Balance constitutes full and final payment of all amounts due Accord by Client or any other party relating to the Client's agreements with Accord, and that upon such full and final payment, there exist no defaults of any part under such agreements.

  • If Dealer fails to forward funds necessary to repurchase the Contract from RLS for the current Payoff Balance and the Contract within Seven (7) days of notification by RLS of its intention to have the Contract repurchased, Dealer will be in default of its obligations under this Agreement.

  • The Payoff Balance is good through the end of business November 20, 2007.