Priorities of Payments definition

Priorities of Payments means the orders of priority for the allocation and distribution of amounts standing to the credit of the Guarantor LP in different circumstances being the Pre-Acceleration Revenue Priority of Payments, the Pre-Acceleration Principal Priority of Payments and the Guarantee Priority of Payments (see Article 6 of the Guarantor LP Agreement) and the Post-Enforcement Priority of Payments (see Section 3.07 of the Security Agreement) and “Priority of Payment” means any one of the foregoing;

Priorities of Payments means the CBC Priority of Payments and the Post CBC Acceleration Notice Priority of Payments.

Priorities of Payments means the orders of priority for the allocation and distribution of amounts standing to the credit of the Guarantor in different circumstances;

Examples of Priorities of Payments in a sentence

• Subject to the terms of the Transaction Documents, the receiver will wind up the affairs of the Partnership and all property of the Partnership will be liquidated in an orderly manner and will distribute the net proceeds of the liquidation of the Partnership in accordance with Article 6 (Priorities of Payments).

• Payments in respect of this Section 2.15 shall be made solely in accordance with Article 6 (Priorities of Payments).

• Payments in respect of this Section 2.16 shall be made solely in accordance with Article 6 (Priorities of Payments).

• Each of the Bond Trustee and the Guarantor agree that all amounts payable by the Covered Bond Swap Provider to the Guarantor under the Covered Bond Swap Agreement and in accordance with the Priorities of Payments, shall be paid directly to the Paying Agent, and the Guarantor (or the Cash Manager on its behalf) shall direct the Covered Bond Swap Provider accordingly.

• The charges shall be payable in accordance with the Priorities of Payments at the same rates as are generally applicable to the business customers of the Account Bank provided that if there are insufficient funds standing to the credit of the Transaction Account to pay such charges after payment by or on behalf of the Guarantor of any higher ranking obligations in the Priorities of Payment the Account Bank shall not be relieved of its obligations in respect of any of the Guarantor Accounts.

More Definitions of Priorities of Payments

Priorities of Payments means, in the case of Interest Proceeds, the Interest Priority of Payments and, in the case of Principal Proceeds, the Principal Priority of Payments and, in the case of Collateral Enhancement Obligation Proceeds, the Collateral Enhancement Obligation Proceeds Priority of Payments.

Priorities of Payments means the Pre-Enforcement Priority of Payments and the Post-Acceleration Priority of Payments.

Priorities of Payments means (a) prior to enforcement of the security over the Mortgaged Property, the Interest Proceeds Priority of Payments and the Principal Proceeds Priority of Payments, and (b) following enforcement of the security over the Mortgaged Property, the Enforcement Priority of Payments;

Priorities of Payments means the Borrower Post-Enforcement (Pre-Acceleration) Revenue Priority of Payments and the Borrower Post-Enforcement (Pre-Acceleration) Principal Priority of Payments and "Borrower Post- Enforcement (Pre-Acceleration) Priority of Payments" means either of them, as the context requires.

Priorities of Payments means, together, the Interest Priority of Payments, the Principal Priority of Payments and the Accelerated Priority of Payments.

Priorities of Payments means, in the case of Interest Proceeds, the Interest Priority of Payments set out in Condition 3(c)(i) (Interest Priority of Payments), in the case of Principal Proceeds, the Principal Priority of Payments set out in Condition 3(c)(ii) (Principal Priority of Payments) and, in the case of Collateral Enhancement Obligation Proceeds, the Collateral Enhancement Obligation Priority of Payments set out in Condition 3(c)(iii) (Collateral Enhancement Obligation Priority of Payments).

Priorities of Payments means (a) save for following any redemption of the Notes in the case of Condition 7(b)(i)(A) or (B), at the request in writing of the holders of more than 50 per cent. of the Principal Amount Outstanding of the Subordinated Notes or, pursuant to Condition 7(b)(i)(C), at the direction of the Controlling Class acting by Extraordinary Resolution, and prior to enforcement of the security over the Collateral, in the case of Interest Proceeds, the Interest Proceeds Priority of Payments, in the case of Principal Proceeds, the Principal Proceeds Priority of Payments or, in the case of Collateral Enhancement Obligation Proceeds, the Collateral Enhancement Obligation Proceeds Priority of Payments, and (b) (1) in the event of any redemption of the Notes pursuant to Condition 7(b)(i)(A) or (B) at the request in writing of the holders of more than 50 per cent. of the Principal Amount Outstanding of the Subordinated Notes or, pursuant to Condition 7(b)(i)(C), at the direction of the Controlling Class acting by Extraordinary Resolution, or (2) following enforcement of the security over the Collateral, the Enforcement Proceeds Priority of Payments or, in the case of Collateral Enhancement Obligation Proceeds, the Collateral Enhancement Obligation Proceeds Priority of Payments;