Retained Payment definition

Retained Payment. With respect to any Terminated Loan sold by the Servicer on behalf of the Purchaser to a third party or securitized, the sum of (A) with respect to any such Terminated Loan which has a Pooling Date prior to the 15th day of the month, the amount of principal payments which are scheduled to be received by the Purchaser in the month in which the Loan Termination Date for such Terminated Loan occurs and (B) the amount of Principal Prepayments not deposited into the Collateral Account and received by the Purchaser prior to the Pooling Date where the next Reconciliation Date occurs prior to such Pooling Date.
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Retained Payment has the meaning given to it in Clause 2.4.
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Retained Payment means, with respect to any Terminated Loan sold by the Trust to a third party or securitized, the sum of (A) with respect to any such Terminated Loan which has a Pooling Date prior to the 15th day of the month, the amount of principal payments which are scheduled to be received by the Trust in the month in which the Loan Termination Date for such Terminated Loan occurs and (B) the amount of principal prepayments not deposited into the Collateral Account and received by the Trust prior to the Pooling Date where the next Reconciliation Date occurs prior to such Pooling Date.
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Examples of Retained Payment in a sentence

  • On such succeeding Payment Due Dates, the Servicer shall deposit the related Applied Payment Ahead to the related Collection Account and indicate the corresponding reduction in the Retained Payment Ahead in its records.

  • In addition, if MCC shall determine that any other amounts in respect of any Retained Payment Rights have been remitted to the Lockbox Account, then Purchaser shall promptly refund the amount in respect of such Retained Payment Rights to MCC within five (5) Business Days following receipt of written request for such refund from MCC (provided that MCC has delivered to Purchaser reasonably satisfactory information supporting such determination by MCC).

  • Notwithstanding any provision to the contrary contained herein, in the event of any such termination, Purchaser shall collect and promptly remit to MCC any and all amounts in respect of any Retained Payment Rights received by Purchaser (either directly or through the Lockbox Account) after the termination date.

  • After the date hereof, Seller shall pay all Taxes as levied by any taxing authority in any jurisdiction (i) with respect to the Payments and Purchased Assets on or prior to the date hereof and (ii) with respect to the Equipment and the Retained Payment Rights, and Purchaser or its Affiliates shall pay all Taxes as levied by any taxing authority in any jurisdiction with respect to the ownership of the Payments and Purchased Assets after the date hereof.

  • Any such Retained Payment Ahead shall be applied by the Successor Servicer in accordance with Section 2.7(b)(vi) of the Basic Servicing Agreement.

  • If Purchaser shall, notwithstanding the provisions of the Sublicense Agreement, the Licensee Instruction Letter and the Escrow Agreement, receive from the Licensee or any other Person any Retained Payment, Purchaser shall promptly (and in any event no later than [**]) following the receipt by Purchaser of such Receivables, remit the entire amount of such Retained Payment to the Escrow Account.