Settlement Money definition

Settlement Money refers to the amount of money which, if the principal is repaid or off-set before the Repayment Due Date and if the Reinvestment Interest Rate falls below the Applicable Interest Rate, is calculated by multiplying the amount of principal that is so repaid or off-set by a difference between the Reinvestment Interest Rate and the Applicable Interest Rate and the actual number of days in the Residual Period; provided that such amount shall be set so that it does not violate Laws, Regulations, etc. It should be noted that a “Residual Period” refers to a period from the day of repayment or off-setting to the Repayment Due Date, and a “Reinvestment Interest Rate” refers to an interest rate reasonably determined by Lenders as an interest rate calculated assuming that the amount of principal that is repaid or off-set is reinvested in the Tokyo interbank market for the Residual Period. In addition, as for the above-mentioned Settlement Money, calculation shall be made on a daily pro rata basis of a 365-day year, division thereof shall be performed at the end and any fraction less than one (1) yen shall be truncated. In addition, the calculation of number of days of a certain period shall include the first day of such period, but exclude the last day thereof;
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Examples of Settlement Money in a sentence

  • Subscriber’s payment, and Owner’s receipt, of the Settlement Money shall be a condition precedent to Owner’s obligation under this Agreement, as set forth below, to voluntarily dismiss with prejudice its claims against the Subscriber in the above referenced law suit.

  • The Settlement Money shall be tendered in the form of an electronic check, credit card, cashier’s check, or law firm check with no charge back or check cancellation, made payable to the order of “Prenda Law Inc.” and delivered to Prenda Law Inc., ▇▇▇ ▇.

  • Should it become necessary for Owner to institute a legal action to collect any portion of the Settlement Money, or to recover upon a worthless check, Owner shall be entitled to recover from Subscriber Owner’s reasonable attorneys’ fees and costs associated with any such collection effort.

  • The Settlement Money shall represent the complete and final settlement of the total compensation the Employee has claimed as due and payable in connection with Claims as well as all additional monies, fees (of any nature) and bonuses, which are or which may be owed.

  • Even when the Borrower loses the benefit of time under paragraph 1, 2, or 3, Settlement Money may accrue, and the Borrower shall pay to the Loaner any Settlement Money accrued.

  • You may participate in the settlement by following the below procedures: Receive Settlement Money You are entitled to .

  • In the event of forfeiture of the benefit of time on the part of the Borrower, the Borrower shall immediately pay, by the method designated by the Loaner, the principal and interest of all Individual Loans, and Settlement Money, as well as any other money payable by the Borrower to the Loaner under this Special Agreement.

  • The Settlement Money shall be in the form of a certified check, money order or law firm check made payable to the “SETTLEMENT TRUST ACCOUNT" and delivered to Settlement Trust Account, 2 S.

  • In such cases, on the Desired Prepayment Date for Increased Expenses, the Borrower shall pay the Lender Incurring Increased Expenses the entire principal amount of such Individual Loan, interest that accrues on such principal in a period until such Desired Prepayment Date for Increased Expenses (inclusive) and Settlement Money notified of by the Lender Incurring Increased Expenses as well as the Increased Expenses for which the request was made.

  • Notwithstanding the terms of the NEC Debt Obligation,(i) in the event of any prepayment pursuant to this Section 12.1, no Settlement Money (as defined in the NEC Debt Obligation) shall be due or owing in connection with such prepayment and (ii) the default rate of interest on any late payment shall be at a rate of six percent (6%) per annum..