Examples of Required Payoff Amount in a sentence
None of the Leases permit the Obligor to terminate the Lease prior to the latest Stated Maturity Date or to otherwise prepay the amounts due and payable thereunder, except for a de minimis number of Leases which allow for an early termination or prepayment upon payment of an amount which is not less than the Required Payoff Amount.
The Master Servicer may not permit a Receivable to be terminated prior to the scheduled termination date thereof unless such termination results in a payment at least equal to the Required Payoff Amount being deposited into the Collection Account with respect to the related Payment Date.
Under each Lease, if the Equipment is damaged or destroyed, the Obligor is required either (i) to repair such Equipment, (ii) to make a termination payment to the lessor in an amount not less than the Required Payoff Amount, or (iii) in some cases, to replace such damaged or destroyed Equipment with other equipment of comparable use and value.
The Pledgors shall have the option, but shall not be required, to accept the reassignment of Receivables that are not subject to a Deemed Collection but that are 60 or more days past due at a price equal to the Required Payoff Amount therefor.
Also, the Pledgors will accept the reassignment of Defaulted Receivables upon 5 Business Days' notice following the demand of the Agent at a price equal to the Required Payoff Amount; provided that in lieu of such payment, to the extent permitted pursuant to Section 2.16, the Pledgors may substitute a Substitute Receivable for any such Defaulted Receivable.