Prior Payment Amount definition

Prior Payment Amount means the amount, which may be a positive or negative number, equal to the Prepayment Amount plus the amount, if any, paid by SEACOR to Spinco pursuant to Section 2.02(a) minus the amount, if any, paid by Spinco to SEACOR pursuant to Section 2.02(a).
View Source
Prior Payment Amount has the meaning provided in Section 15(j).
View Source
Prior Payment Amount has the meaning set forth in Section 15(e). “Proceeding” has the meaning provided in Section 11(d).
View Source

Examples of Prior Payment Amount in a sentence

  • Senior Lender shall have no liability to any Junior Lender for including a Prior Payment Amount as being the amount due to a Junior Lender that failed to deliver a Junior Lender Monthly Payment Notice, shall have no obligation to notify any Junior Lender of the failure of Senior Lender to receive a Junior Lender Monthly Payment Notice and shall have no obligation with respect to pursuing the collection of any amounts owing to any Junior Lender.

  • If a Prior Payment Amount for any Junior Lender is paid to such Junior Lender in accordance with the foregoing, any Junior Lender that failed to deliver a Junior Lender Monthly Payment Notice to Senior Lender shall make prompt demand on the applicable Junior Borrower for payment of any shortfall due to such Junior Lender as of such Monthly Payment Date.

  • If a Prior Payment Amount disbursed to a Junior Lender exceeded the scheduled monthly amount actually due on such Junior Lender’s Junior Loan on the applicable Monthly Payment Date, such Junior Lender shall promptly remit such excess funds to the Clearing Account (as defined in the Senior Loan Documents).