Residual Amount definition

Residual Amount means, for any Weekly Allocation Date with respect to any Quarterly Fiscal Period, the amount, if any, by which the amount allocated to the Collection Account on such Weekly Allocation Date exceeds the sum of the amounts to be paid and/or allocated on such Weekly Allocation Date pursuant to priorities (i) through (xxvi) of the Priority of Payments.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Residual Amount means, in relation to a Noteholder and a Note, the fraction of a Security rounded down pursuant to Condition 20(b), as determined by the Calculation Agent or such amount as otherwise specified in the relevant Pricing Supplement;

Residual Amount means, with respect to an application of Available Proceeds or Managers’ Available Proceeds, as applicable, all remaining proceeds (if any) after the application of the Available Proceeds or Managers’ Available Proceeds, as applicable, to satisfy the payments set out in Condition 16(a)(i) to (vi) (Application of Available Proceeds of Liquidation), in Condition 16(b)(i) to (vi) (Application of Available Proceeds of Enforcement of Security) or in Condition 16(c)(i) to (iv) (Application of Managers’ Available Proceeds of Enforcement of Managers’ Security), as applicable.

Examples of Residual Amount in a sentence

• In the event the Company is not diligently fulfilling its obligation to direct funds owed to the Holder from Puts to the Investor, as reasonably determined by the Holder, the Holder may, after giving the Company two (2) business days' advance notice to cure the same, elect to increase the Residual Amount of the Note by 2.5% each day, compounded daily.

• The Company and its subsidiaries have filed, maintained or submitted all material reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments as required by the applicable Health Care Laws, and all such reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments were complete and accurate on the date filed in all material respects (or were corrected or supplemented by a subsequent submission).

• If the Holder chooses to convert the Residual Amount to a Convertible Debenture, the Company shall have twenty (20) business days after notice of the same (the "Notice of Convertible Debenture") to file a registration statement covering an amount of shares equal to 300% of the Residual Amount.

• In the event of a Default , the Holder shall also have the right, but not the obligation, to 1) switch the Residual Amount to a three-year ("Convertible Maturity Date"), 10% interest bearing convertible debenture at the terms described in Article 4.2 (the "Convertible Debenture").

• In the event that on the Maturity Date the Company has any remaining amounts unpaid on this Note (the "Residual Amount"), the Holder can exercise its right to increase the Residual Amount by ten percent (10%) as an initial penalty AND two and one-half percent (2.5%) per month paid as liquated damages --- ("Liquidated Damages").

More Definitions of Residual Amount

Residual Amount means in relation to a Noteholder and a Note, the fraction of a Security rounded down pursuant to Condition 10(c)(i)(B), as determined by the Calculation Agent.

Residual Amount means, with respect to an application of Available Proceeds in connection with a Liquidation Event or an Enforcement Event, as applicable, all remaining proceeds (if any) after the application of the Available Proceeds to satisfy the payments set out in paragraphs (i) to (vi) of Conditions 15(a) or 15(b), as applicable.

Residual Amount means, with respect to an application of Available Proceeds in connection with a Liquidation Event or an Enforcement Event, as applicable, all remaining proceeds (if any) after the application of the Available Proceeds to satisfy the payments set out in paragraphs (A) to (E) of Condition 15(a) or (b), as applicable. (b) Application of Proceeds of Enforcement of the Security: Subject to and in accordance with the terms of the Security Documents, with effect from the effective date of any Enforcement Notice delivered by the Trustee following the occurrence of an Enforcement Event, the Trustee will hold the Available Proceeds received by it under the Trust Deed on trust to apply them as follows:

Residual Amount means the lesser of: (a) the amount, if any, by which the amount required to be spent by the Company and its subsidiaries to purchase or pay for outstanding Convertible Debentures exceeds $15 million; or (b) $1.152 million. For this purpose, if any person exercises an option issued by the Company to purchase shares of the Company's common stock and pays all or any portion of the purchase price for those shares in Convertible Debentures, the amount spent by the Company for those Convertible Debentures shall be the number of shares purchased by the person exercising that option with those debentures multiplied by the Market Price.

Residual Amount means, collectively or as the context requires, the U.S. Residual Amount and the Canadian Residual Amount.

Residual Amount means for any Monthly Allocation Date with respect to any Quarterly Collection Period the amount, if any, by which the amount allocated to the Collection Account on such Monthly Allocation Date exceeds the sum of the amounts to be paid and/or allocated on such Monthly Allocation Date pursuant to priorities (i) through (xxi) of the Priority of Payments; provided, if, as of any date of determination, the P&I DSCR calculation is maintained or improved as a result of an equity contribution to the Issuer, the Residual Amount shall be reduced to the Residual Amount that would have been paid absent such equity contribution; provided further, the amount of such reduction shall be deposited into the Reserve Account and released to the Collection Account only upon the P&I DSCR calculation being satisfied without giving any effect to any equity contributions by the Manager.

Residual Amount means, with respect to an application of Available Proceeds in connection with a Liquidation Event or an Enforcement Event, as applicable, all remaining proceeds (if any) after the application of the Available Proceeds to satisfy the payments set out in Condition 5(k)(iii)(A) to (F).