Allocation of Payments definition

Allocation of Payments. We will allocate payment amounts equal to or less than the required Minimum Payment Due and any credits to balances on your Credit Line in any manner we determine, which may typically be to balances with lower APRs before balances with higher APRs. We allocate all payments in excess of the required Minimum Payment Due to balances with the highest APR first, then to lower APR balances in descending order of APRs. The manner in which we allocate any payment to your Credit Line balances may affect the amount of any payment applied to introductory or promotional financing balances, subject to applicable law, and may result in higher interest charges to your Credit Line, depending on the types of transactions you make (such as promotional or non-promotional Purchases, and if applicable Balance Transfers and/or Cash Advances), and the timing and amount of your payments.
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Allocation of Payments has the meaning specified in Section 9.01(a).
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Allocation of Payments firstly to the payment of charges and sundry costs, then the payment of interest and finally to repayment of capital;
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Examples of Allocation of Payments in a sentence

  • Application and Allocation of Payments.........................................................

  • Allocation of Payments 24 ARTICLE V MISCELLANEOUS 24 SECTION 5.01.

  • Subject to the mandatory provisions of Dutch law on enforcement, all monies received or realized by the Pledgee in connection with the enforcement of any Right of Pledge shall be applied by the Pledgee in accordance with section 11.15 (Allocation of Payments) of the Credit Agreement.

  • SECURED PARTIES’ RIGHTS AND REMEDIES AFTER DEFAULT 72 Section 11.1 Rights and Remedies 72 Section 11.2 Collateral Agent’s Discretion 73 Section 11.3 Setoff 73 Section 11.4 Intellectual Property License 73 Section 11.5 Rights and Remedies not Exclusive 74 Section 11.6 Allocation of Payments After Event of Default 74 ARTICLE XII.

  • Each Loan Party hereby directs all insurers under all policies of property insurance to pay all proceeds payable thereunder directly to Agent, and Agent shall apply such proceeds as set forth in Sections 5.2.5 (Mandatory Prepayments) or 5.5 (Post-Default Allocation of Payments), as applicable.

  • Subject to the mandatory provisions of Dutch law on enforcement, all monies received or realised by the Pledgee in connection with the enforcement of any Right of Pledge shall be applied by the Pledgee in accordance with section 11.15 (Allocation of Payments) of the Credit Agreement.

  • Section 8.01 Events of Default 141 Section 8.02 Acceleration; Remedies 145 Section 8.03 Allocation of Payments After Event of Default.

  • Voluntary Commitment Reductions and Prepayments 42 2.4 Allocation of Payments After Event of Default 44 2.5 Use of Proceeds 45 SECTION 3.

  • Agent's Allocation of Payments and Collections........................................................43 6.12.

  • Despite Section 2.3 (Allocation of Payments), any decrease in the Purchase Price under this Article 6 will be allocated to the Seller or Sellers making the payment or being subject to the right of set off, and any increase in the Purchase Price under this Article 6 will be allocated to the Seller or Sellers receiving the payment (or to the Seller whose related Seller Indemnified Party is receiving the payment).


More Definitions of Allocation of Payments

Allocation of Payments. {tc "Section 3.3.
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Allocation of Payments on the Mortgage Loans.....All collections on the mortgage loans will generally be allocated by the servicer according to the terms of the related home equity credit line agreements or mortgage notes between amounts collected in respect of interest and principal. o With respect to each payment date, the portion of interest collections for each loan group available to be applied towards the payment of interest on the related class of Notes will equal interest collections for such loan group for such payment date. o The portion of principal collections for each loan group available to be applied towards the payment of principal on the related class of notes will equal: o at any time during the Revolving Periods, zero; o at any time during the Managed Amortization Period, net principal collections on the home equity revolving credit line loans for such payment date; and o at any time during the Rapid Amortization Periods, principal collections for such loan group for such payment date. Recipients of these Computational Materials must read and acknowledge the attached document "STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES, AND OTHER INFORMATION" before using or relying on the information contained herein. In addition, recipients of these Computational Materials may only use or rely on the information contained herein if read in conjunction with the related Prospectus and Prospectus Supplement. If you have not received the statement described above or the related Prospectus and Prospectus Supplement, please contact your account executive at Bear, Xxxxxxx & Co. Inc. BEAR XXXXXXX ------------------------------------------------------------------------------ GMACM Home Equity Loan Trust 2000-HE1 ------------------------------------------------------------------------------ During the revolving period for each class of Term Notes, principal and excess spread collections for the related loan group will be applied by the trust to buy mortgage loans for such loan group and, during the period from the Closing Date to the beginning of the Rapid Amortization Period for the Class A-1 and Class A-2 Term Notes, principal collections will also be applied to purchase additional balances for the related loan group, to the extent they are available. Principal collections will no longer be applied to acquire mortgage loans after the end of the Revolving Periods and will no longer be applied to buy additional balances during the Rapid Amortization Period for...
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Related to Allocation of Payments

  • Policy Payments Account means a separate special purpose trust account that is an Eligible Account, for the benefit of Holders of the Notes and the Credit Enhancer over which the Indenture Trustee has exclusive control and sole right of withdrawal.

  • Priority of Payments The meaning specified in Section 11.1(a).

  • Special Payments Account Means, with respect to the Class A Certificates, the account or accounts created and maintained for such series pursuant to Section 4.01(b) of the Basic Agreement (as modified by Section 7.01(c) of this Trust Supplement) and this Trust Supplement.

  • Debit Payment means a particular transaction where a debit is made.

  • Regular Allocation of Principal means, with respect to any Payment Date, an amount not less than zero equal to (1) the excess, if any, of (a) the Note Balance of the Notes as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) (i) the Pool Balance as of the end of the related Collection Period less (ii) the Targeted Overcollateralization Amount minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal, the Fourth Allocation of Principal and the Fifth Allocation of Principal for such Payment Date.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Class B Fixed Allocation means, with respect to any Monthly Period following the Revolving Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Investor Interest as of the close of business on the last day of the Revolving Period and the denominator of which is equal to the Investor Interest as of the close of business on the last day of the Revolving Period.

  • Fourth Allocation of Principal means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance, the Class B Note Balance, the Class C Note Balance and the Class D Note Balance as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal for such Payment Date; provided, however, that the Fourth Allocation of Principal on and after the Final Scheduled Payment Date for the Class D Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class D Notes to zero (after the application of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal).

  • Aggregate Payments as defined in Section 7.2.

  • Allocable Amounts, when used with respect to any Senior Indebtedness, means all amounts due or to become due on such Senior Indebtedness less, if applicable, any amount which would have been paid to, and retained by, the holders of such Senior Indebtedness (whether as a result of the receipt of payments by the holders of such Senior Indebtedness from the Company or any other obligor thereon or from any holders of, or trustee in respect of, other indebtedness that is subordinate and junior in right of payment to such Senior Indebtedness pursuant to any provision of such indebtedness for the payment over of amounts received on account of such indebtedness to the holders of such Senior Indebtedness or otherwise) but for the fact that such Senior Indebtedness is subordinate or junior in right of payment to (or subject to a requirement that amounts received on such Senior Indebtedness be paid over to obligees on) trade accounts payable or accrued liabilities arising in the ordinary course of business.

  • Third Allocation of Principal means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance, the Class B Note Balance and the Class C Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes, the Class B Notes and the Class C Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the sum of the First Allocation of Principal and the Second Allocation of Principal for such Payment Date; provided, however, that the Third Allocation of Principal on and after the Final Scheduled Payment Date for the Class C Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class C Notes to zero (after the application of the First Allocation of Principal and the Second Allocation of Principal).

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Class B Floating Allocation means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class B Investor Interest as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Investor Interest as of the close of business on such day; provided, however, that, with respect to the first Monthly Period, the Class B Floating Allocation shall mean the percentage equivalent of a fraction, the numerator of which is the Class B Initial Investor Interest and the denominator of which is the Initial Investor Interest.

  • Contribution Amounts the aggregate amount of capital contributions applied by the Borrower to permit the Incurrence of Contribution Indebtedness pursuant to Subsection 8.1(b)(xi).

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Final Allocation has the meaning set forth in Section 2.3.

  • Class A Floating Allocation means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Adjusted Investor Interest as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Investor Interest as of the close of business on such day; provided, however, that, with respect to the first Monthly Period, the Class A Floating Allocation shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Investor Interest and the denominator of which is the Initial Investor Interest.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Allocation shall have the meaning set forth in Section 2.7.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Floating Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Invested Amount as of the last day of the preceding Monthly Period (or with respect to the first Monthly Period, the Initial Invested Amount) and the denominator of which is the greater of (1) the sum of (x) the total amount of Principal Receivables in the Trust at the end of the day on such date (or with respect to the first Monthly Period, at the end of the day on the Closing Date) and (y) the principal amount on deposit in the Excess Funding Account as of the end of the day on such date and (2) the sum of the numerators used to calculate the Series Percentages (as such term is defined in the Agreement) with respect to Finance Charge Receivables or Defaulted Receivables, as applicable, for all Series then outstanding; provided, however, that with respect to any Monthly Period in which an Addition Date occurs and the Servicer need not make daily deposits of Collections into the Collection Account, the denominator in (x) above shall be the Average Principal Balance; provided further, however, that with respect to any Monthly Period in which an Addition Date occurs and the Servicer is required to make daily deposits of Collections into the Collection Account, the denominator in (x) above shall be (1) for the period from and including the first day of such Monthly Period to but excluding the related Addition Date, the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period and (2) for the period from and including the related Addition Date to and including the last day of such Monthly Period, the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date.