SLOT Capital definition

SLOT Capital of any SLOT Interest means, at any time, (A) the SLOT Purchase Price of such SLOT Interest, minus (B) the sum of the aggregate amount of Collections and other payments received by the SLOT Agent which in each case are applied to reduce such SLOT Capital in accordance with the terms and conditions of this Agreement and the Intercreditor Agreement; provided that such SLOT Capital shall be restored (in accordance with Section 2.5) in the amount of any Collections or other payments so received and applied if at any time the distribution of such Collections or payments are rescinded, returned or refunded for any reason.
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Examples of SLOT Capital in a sentence

  • Such SLOT Reduction Notice shall designate (i) the date (the “Proposed SLOT Reduction Date”) upon which any such reduction of Aggregate SLOT Capital shall occur, and (ii) the amount of Aggregate SLOT Capital to be reduced (the “Aggregate SLOT Reduction”), which, subject to the Intercreditor Agreement, shall be applied to the reduction of such SLOT Interests as the SLOT Agent may select.

  • If Aggregate SLOT Capital, Yield and other Recourse Obligations under this Agreement shall be reduced to zero, any additional Collections received by the Servicer shall be remitted from the Servicer to Seller on such Settlement Date.

  • SLOT Capital shall accrue Yield for each day during each Accrual Period at LMIR at all times while it is available and otherwise, at the Alternate Base Rate.

  • Not later than 10:00 a.m. (Chicago time) on the Business Day of a proposed reduction in Aggregate SLOT Capital outstanding, Seller shall provide the SLOT Agent with written notice of any reduction requested by the Seller of the Aggregate SLOT Capital outstanding (a “SLOT Reduction Notice”).

  • If the aggregate of the SLOT Interests exceeds 100%, Seller shall determine the amount that must be applied to the reduction of SLOT Capital of the SLOT Interests to eliminate such excess (the “Mandatory SLOT Reduction Amount"), and Seller shall pay, from funds available to Seller under Sections 2.2 and 2.3, to the SLOT Purchaser, not later than the next Business Day, the Mandatory SLOT Reduction Amount.