Common use of Withdrawals Clause in Contracts

Withdrawals. Subject to Sections 3.2(b)(ii) and (iii) hereof, if on any Payment Date, Available Funds (without giving effect to any deposit from the General Reserve Account) would be insufficient to pay any portion of the Required Payments on such Payment Date, the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw from the General Reserve Account an amount equal to the lesser of such insufficiency and the amount on deposit in the General Reserve Account and deposit such amount in the Collection Account.

Appears in 17 contracts

Samples: Indenture (BBX Capital Corp), BXG Receivables Note (BFC Financial Corp), BXG Receivables Note (BFC Financial Corp)

AutoNDA by SimpleDocs

Withdrawals. Subject to Sections 3.2(b)(ii) and (iii) hereof, if on any Payment Date, Available Funds (without giving effect to any deposit from the General Reserve Account) would be insufficient to pay any portion of the Required Payments on such Payment Date, the Indenture Trustee shall, solely based on the Monthly Servicer Report, withdraw from the General Reserve Account an amount equal to the lesser of such insufficiency and the amount on deposit in the General Reserve Account and deposit such amount in into the Collection Account.

Appears in 9 contracts

Samples: Note Funding Agreement (BBX Capital Corp), Note Funding Agreement (Bluegreen Vacations Corp), Indenture (Bluegreen Vacations Holding Corp)

Withdrawals. Subject to Sections 3.2(b)(ii3.2(b)(iii) and (iiiiv) hereofbelow, if on any Payment Date, Available Funds (without giving effect to any deposit from the General Reserve Account) would be insufficient to pay any portion of the Required Payments on such Payment Date, the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw from the General Reserve Account an amount equal to the lesser of such insufficiency and the amount on deposit in the General Reserve Account and deposit such amount in the Collection Account.

Appears in 4 contracts

Samples: Indenture (Silverleaf Resorts Inc), Indenture (Silverleaf Resorts Inc), Silverleaf Resorts Inc

Withdrawals. Subject to Sections 3.2(b)(ii) and (iii) hereofbelow, if on any Payment Date, Available Funds (without giving effect to any deposit from the General Reserve Account) would be insufficient to pay any portion of the Required Payments on such Payment Date, the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw from the General Reserve Account an amount equal to the lesser of such insufficiency and the amount on deposit in the General Reserve Account and deposit such amount in the Collection Account.

Appears in 3 contracts

Samples: Indenture (Silverleaf Resorts Inc), BXG Receivables (Bluegreen Corp), Bluegreen Corp

AutoNDA by SimpleDocs

Withdrawals. Subject to Sections 3.2(b)(ii3.2(b)(iii) and (iiiiv) hereofbelow, if on any Payment Date, Available Funds (without giving effect to any deposit from the General Reserve Account) would be insufficient to pay any portion of the Required Payments on such Payment Date, the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw from the General Reserve Account an amount equal to the lesser of such insufficiency and the amount on deposit in the General Reserve Account and deposit such amount in the Collection Account.

Appears in 2 contracts

Samples: Silverleaf Resorts Inc, Silverleaf Resorts Inc

Withdrawals. Subject to Sections 3.2(b)(ii) and (iii) hereof, if on any Payment Date, Available Funds (without giving effect to any deposit from the General Reserve Account) would be insufficient to pay any portion of the Required Payments on such Payment Date, the Indenture Trustee Paying Agent shall, solely based on the Monthly Servicer Report, withdraw from the General Reserve Account an amount equal to the lesser of such insufficiency and the amount on deposit in the General Reserve Account and deposit such amount in into the Collection Account.

Appears in 2 contracts

Samples: Indenture (Bluegreen Vacations Holding Corp), Indenture (Bluegreen Vacations Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.