Priority Payments definition

Priority Payments shall have the meaning ascribed thereto in Section 3.04(c) of the Indenture.

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Priority Payments. For each Series of Notes then Outstanding on any Payment Date, all amounts to be paid from the related Series Account on such Payment Date which represent payments of (i) interest (but not Default Fees or any other interest expressly excluded pursuant to the terms of the Supplement for such Series) on such Series of Notes, (ii) commitment fees payable to the Holders of such Series of Notes and (iii) if any of the amounts set forth in clauses (i) or (ii) are paid by a Series Enhancer, then any reimbursement obligations of the Issuer to such Series Enhancer in respect of such payments, including interest thereon, shall be a Priority Payment for such Series and paid to such Series Enhancer to the extent that such payment would not cause a shortfall in other Priority Payments for the Noteholders of such Series.

Priority Payments means those amounts set forth in Paragraphs 1 through 5 of Exhibit D attached hereto. Agent acknowledges and agrees that 60% of its Fee is subordinate to the Priority Payments.

Examples of Priority Payments in a sentence

• If on any Payment Date, Deposited Available Funds are less than the Priority Payments, the Trustee shall withdraw from the Reserve Account the excess of the Priority Payments over the Available Funds in accordance with Section 3.04(c) hereof.

• If the District Court rules that all Allowed and allowable First Priority Claims and all Allowed and allowable Litigation Payments have been paid or that adequate provision has been made to assure such payment (along with administrative costs) based on the available assets, then the Second Priority Payments, or some portion thereof, may be distributed, unless the order of the District Court is stayed or reversed on appeal.

• If the District Court authorizes the use of any portion of the Litigation Fund for payment of First Priority Payments, and such determination is not stayed or reversed on appeal, then the Finance Committee may authorize such distributions of First Priority Payments, and the amounts so distributed shall be deducted on a Net Present Value basis from the aggregate amount of the Available Litigation Funds to compute the remaining Available Litigation Funds.

• All categories of payment are subject to reduction if necessary to assure payment in full of First Priority Payments (subject to the limits of the Settlement Fund and the Litigation Fund).

• First Priority Payments and Settlement Fund Other Payments shall be distributed as soon as practicable after approval of the Allowed Claim.

More Definitions of Priority Payments

Priority Payments means the Common Priority Payment, Series A Preferred Priority Payment, Series C Preferred Priority Payment and the Series G Aggregate Preferred Priority Payment.

Priority Payments means payments to be made pursuant to this Plan, which are required to be paid in priority to payments to Affected Creditors in accordance with Applicable Laws;

Priority Payments means Priority Distributions, in an aggregate amount during the term of this Agreement not to exceed at any date of determination the sum of (a) the number of fiscal months ending on or after the Closing Date and on or prior to the earlier of (i) the date of determination and (ii) the last day of the fiscal month preceding the fiscal month in which the Project Opening Date occurs, times $155,000 (provided that in no event shall the aggregate amount under this clause (a) exceed $930,000), plus (b) the Initial Priority Payment Amount, plus (c) the number of fiscal months commencing after the month in which the Project Opening Date occurs and on or prior to the date of determination times $333,333.34. To the extent that in any month the Borrower does not make such payments, but the Manager makes such payments on behalf of the Borrower, then the Borrower may thereafter make such payments to the Manager to reimburse the Manager for such payments.

Priority Payments means payments of must-pay debt service, an annual asset management or general partner fee to MBS or its Affiliate in the amount of $20,000 per Phase (the “MBS Fee”), tax credit adjuster payments, partner loans or advances, reserve replenishment, Deferred Developer Fee and other conditions as may be required by the Investor and by third-party Lenders subject to reasonable approval by the Authority.

Priority Payments has the meaning set forth in Section 3.04(c) of the Indenture.

Priority Payments means: (i) with respect to the applicable recourse carveout liability described in Section 13.1(a)(x) above as it relates to the failure to pay Taxes and Insurance Premiums, no other payments; (ii) with respect to the applicable recourse carveout liability described in Section 13.1(a)(iv) above, the payment of all Taxes and Insurance Premiums, Ground Rent, Debt Service and sums required to be deposited into any Reserve Accounts other than the Excess Cash Flow Account, and (iii) with respect to the applicable recourse carveout liability described in Section 13.1(a)(vi) above as it relates to the failure to pay any charges that create Liens, the payment of all Taxes, Insurance Premiums, Ground Rent, Debt Service and sums required to be deposited into any Reserve Account other than the Excess Cash Flow Account, and all sums necessary to avoid material physical waste to the Property, in each case on a current basis.

Priority Payments means those payments prescribed under subsections 14.06(7), 81.3, 81.4, 81.5, and 81.6 of the BIA.