Shortfall Instruction definition

Shortfall Instruction means a demand by the Debenture Trustee to the Guarantor for payment under this IIFCL Guarantee in the form set out in Schedule B (Form of Shortfall Instruction).
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Shortfall Instruction shall have the meaning assigned to it under the IIFCL Guarantee Agreement.
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Shortfall Instruction means a demand by the Debenture Trustee to IIFCL in respect of a Shortfall Amount issued pursuant to the IIFCL Guarantee Agreement;
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Examples of Shortfall Instruction in a sentence

  • More than one Shortfall Instruction may be made, during the IIFCL Guarantee Term, provided that under no circumstances shall more than one Shortfall Instruction be made during or in respect of any IIFCL Guarantee Fee Calculation Period, except in relation to a Shortfall Instruction made pursuant to Acceleration.

  • The Guarantor is only liable under this IIFCL Guarantee to pay any Shortfall Amount (and only in accordance with the terms and subject to the conditions set out in this IIFCL Guarantee) if and to the extent that the Debenture Trustee delivers to the Guarantor (with a copy to the Backstop Guarantor), a Shortfall Instruction in respect of such Shortfall Amount and such Shortfall Instruction complies with the requirements of this Clause 4 (SHORTFALL INSTRUCTIONS AND PAYMENT).

  • No Shortfall Instruction shall include any portion of a Shortfall Amount that is or was the subject of another Shortfall Instruction.

  • Provided however, the Guarantor shall be required to make payments pursuant to any Shortfall Instruction made under Clause 4.1.4, no later than [•] Business Days following the date of delivery of such Shortfall Instruction under Clause 4.1.4.

  • Within a reasonable time after a request from the Guarantor, the Debenture Trustee shall provide to the Guarantor such additional evidence, information and/or documentation that the Guarantor reasonably requires in respect of any Shortfall Instruction, provided however that, any non-submission of such information shall not absolve the Guarantor of its obligations hereunder.

  • Notwithstanding the provisions of Clause 4.1.3 above, any Shortfall Instruction pursuant to Acceleration shall be delivered by the Debenture Trustee to the Guarantor no later than [•] Business Days after the occurrence of such Acceleration.

  • NOTICES Communications in writing Any communication made under or in connection with this IIFCL Guarantee shall be first sent by electronic mail and mandatorily followed by delivery of a written letter (and with respect to a Shortfall Instruction, such written communication shall be hand delivered), provided however that the date of the notice shall mean the date of receipt of the electronic mail by the relevant Party or Parties.

  • The Debenture Trustee shall submit to the Guarantor (with a copy simultaneously delivered to the Backstop Guarantor) a Shortfall Instruction for payment of any Shortfall Amount at least [•] Business Days prior to the relevant Payment Date, in respect of such Shortfall Amount.

  • Manner of Shortfall Instruction Each Shortfall Instruction shall be in the form set out in Schedule B (Form of Shortfall Instruction).

  • A Shortfall Instruction once received by the Guarantor may be withdrawn or revoked by the Debenture Trustee upon notice received by the Guarantor from the Debenture Trustee at least [•] Business Days prior to the due date for payment in respect of such Shortfall Instruction and provided that the Guarantor has not made payment of the Shortfall Amount Paid in respect of such Shortfall Instruction.

Related to Shortfall Instruction

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Shortfall Amount as defined in Section 2.6.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Class Interest Shortfall As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).

  • Account Application or “Application” shall mean the application, as may be amended from time to time, by which this Agreement is established between the Depositor (or following the death of the Depositor, the Beneficiary) and the Custodian. The statements contained therein shall be incorporated into this Agreement.

  • Substitution Shortfall Amount As defined in Section 2.03(d).

  • Prepayment Interest Shortfall Amount With respect to any Mortgage Loan that was subject to a Principal Prepayment in full or in part during any Due Period, which Principal Prepayment was applied to such Mortgage Loan prior to such Mortgage Loan’s Due Date in such Due Period, the amount of interest (net of the General Servicing Fee) that would have accrued on the amount of such Principal Prepayment during the period commencing on the date as of which such Principal Prepayment was applied to such Mortgage Loan and ending on the day immediately preceding such Due Date, inclusive.

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • Counterparty Downgrade Collateral means any cash and/or securities delivered to the Issuer as collateral for the obligations of a Hedge Counterparty under a Hedge Transaction.

  • Collateral Interest Shortfall shall have the meaning specified in subsection 4.02(c).

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (i) the amount of cash or other immediately available funds in the Reserve Account on such Payment Date (prior to giving effect to any withdrawals therefrom relating to such Payment Date) over (ii) the Specified Reserve Balance with respect to such Payment Date.

  • Collateral Shortfall Amount is defined in Section 8.1.

  • Authorized Instructions shall have the meaning set forth in Section 1.5.

  • Investment Property Control Agreement means an agreement in writing, in form and substance satisfactory to Agent, by and among Agent, any Borrower or Guarantor (as the case may be) and any securities intermediary, commodity intermediary or other person who has custody, control or possession of any investment property of such Borrower or Guarantor acknowledging that such securities intermediary, commodity intermediary or other person has custody, control or possession of such investment property on behalf of Agent, that it will comply with entitlement orders originated by Agent with respect to such investment property, or other instructions of Agent, and has such other terms and conditions as Agent may require.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).