Common use of Deferred Amounts Clause in Contracts

Deferred Amounts. (a) In addition to the rate of interest otherwise payable with respect to the Notes and all other amounts payable hereunder or in connection herewith, the Company shall pay, by no later than January 15, 2004, additional interest to the Noteholders in accordance with their respective pro rata principal amount in an amount equal to the aggregate of (i) each Series A Deferred Principal Amount multiplied by a rate per annum equal to 2.00% per annum from the date such Series A Deferred Principal Amount is created and determined hereunder until the date such Series A Deferred Principal Amount has been paid in full plus (ii) each Series A Deferred Principal Amount multiplied by a rate per annum equal to 1.00% per annum from the date such Series A Deferred Principal Amount has been paid in full (through voluntary prepayments pursuant to Section 8.2 hereof) to (but not including) January 15, 2004 (the amounts referred to in clauses (i) and (ii) hereof are collectively referred to as "Deferred Principal Amount Fees"). Each such voluntary prepayment shall be applied to the earliest occurring Series A Deferred Principal Amount and, after the same has been paid in full, thereafter to each immediately succeeding Series A Deferred Principal Amount until all Series A Deferred Principal Amounts have been paid in full. On January 15, 2004, the Company shall pay all Series A Deferred Principal Amounts. As used in this Section 8.7(a), "Deferred Principal Amount" means, with respect to each monthly repayment of the Amortization Debt occurring on or after the Second Amendment Effective Date but prior to January 1, 2004, the excess, if any, of (x) $4,958,333 minus (y) the actual amount of such repayment; it being understood and agreed that each occurrence of such an excess will create a new and independent Deferred Principal Amount. As used in this Section 8.7(a), "Series A Deferred Principal Amount" means the Series A Note Principal Allocation times each Deferred Principal Amount. The Company agrees that in connection with any payment of fees payable to the Specified Holders similar to the Deferred Principal Amount Fees, the Company shall pay to the Noteholders a pro rata amount of such payment.

Deferred Amounts. (a) In addition to On the rate of interest otherwise payable with respect to the Notes Commencement Date, and all other amounts payable hereunder or in connection herewithwith the transactions contemplated by this Agreement, DKTS shall cause to be issued to Citi a Letter of Credit in an initial face amount of USD 70,000,000 (such Letter of Credit, the Company “Initial Deferral LC” and such amount, the “Initial Deferred Amount”), and Citi shall payadvance to DKTS the Initial Deferred Amount for the purpose of facilitating the payment by DKTS of amounts owing or that may become owing, or which are or may be required to be posted as Posted Collateral, under Articles 8, 9, 11, and 12. (b) Upon prior written notice to Citi (such prior written notice to be given at least ten (10) Business Days before each Monthly True-Up Payment Date), DKTS shall have the right to defer payment of all or a portion of any outstanding Deferred Amount until or, in the event the outstanding Deferred Amount is less than USD 70,000,000, request that Citi advance funds for the purpose of facilitating the payment by no later than January 15DKTS of amounts owing or that may become owing, 2004or which are or may be required to be posted as Posted Collateral, additional interest under Articles 8, 9, 11, and 12, on (the date of such deferral or request for an advance, the “Deferral Date”), the Monthly True-Up Payment Date occurring during the next following calendar month (the amount of each such deferred payment or advance pursuant to this Section 11.3(b), a “Subsequent Deferred Amount” and together with the Noteholders in accordance with their respective pro rata principal amount Initial Deferred Amount, each a “Deferred Amount”), in an amount equal to not greater than the aggregate lesser of (i) each Series A Deferred Principal Amount multiplied by a rate per annum equal to 2.00% per annum from the date such Series A Deferred Principal Amount is created and determined hereunder until the date such Series A Deferred Principal Amount has been paid in full plus (ii) each Series A Deferred Principal Amount multiplied by a rate per annum equal to 1.00% per annum from the date such Series A Deferred Principal Amount has been paid in full (through voluntary prepayments pursuant to Section 8.2 hereof) to (but not including) January 15, 2004 (the amounts referred to in clauses (i) USD 70,000,000 and (ii) hereof are collectively referred to the amount by which (A) the undrawn amount of all Deferral LCs exceeds (B) the outstanding Deferred Amount, in each case, as "of the Deferral Date. (c) The repayment and/or advance of any Deferred Principal Amount Fees"). Each such voluntary prepayment shall be applied incorporated as a component of the Monthly True-Up Amount as the Net Deferred Amount Payment. If the Net Deferred Amount Payment is a positive number, such payment shall represent an amount due from DKTS to Citi and if the earliest occurring Series A Net Deferred Principal Amount Payment is a negative number, such payment shall represent an amount due from Citi to DKTS and, after in each case, shall be subtracted in the same has been paid in full, thereafter to each immediately succeeding Series A Deferred Principal Amount until all Series A Deferred Principal Amounts have been paid in full. On January 15, 2004, the Company shall pay all Series A Deferred Principal Amounts. As used in this Section 8.7(a), "Deferred Principal Amount" means, with respect to each monthly repayment calculation of the Amortization Debt occurring on or after Monthly True-Up Amount. (d) For the Second Amendment Effective Date but prior to January 1purposes hereof, 2004, the excess, if any, of (x) $4,958,333 minus (y) the actual amount of such repayment; it being understood and agreed that each occurrence of such an excess will create a new and independent “Net Deferred Principal Amount. As used in this Section 8.7(a), "Series A Deferred Principal Amount" means the Series A Note Principal Allocation times each Deferred Principal Amount. The Company agrees that in connection with any payment of fees payable to the Specified Holders similar to the Deferred Principal Amount Fees, the Company shall pay to the Noteholders a pro rata amount of such payment.Payment” means:

Deferred Amounts. Unless the Court or the Rehabilitator (ain his sole and absolute discretion) has permitted an Alternative Resolution of a Policy Claim, the Rehabilitator shall cause the Segregated Account to establish a Deferred Amount for each Policy in respect of which an Interim Payment has been made or has been deemed to be made pursuant to Section 2.18 of the Original Payment Guidelines, or in the case of a Policy that insures multiple Insured Obligations, each Insured Obligation insured by such Policy in respect of which an Interim Payment has been made or has been deemed to be made. In addition the case of Certain Multi-CUSIP Policies, subject to Section 2.7 hereof, the Deferred Amount relating to such Policies shall be established, allocated and/or paid in a manner that is substantially similar to the rate procedure shown in the “Reallocation of interest otherwise payable with Deferred Loss Amount Example” attached hereto as Exhibit E, except to the extent that any Trustee or Holder of such Multi-CUSIP Policies directs otherwise, but in each case as determined by the Rehabilitator and communicated by the Management Services Provider to the Holder during the Reconciliation process described in Section 2.5 of these Payment Guidelines. In no event shall an uninsured bondholder receive or be allocated any Deferred Amount or Payment. With respect to each such Policy Claim or Insured Obligation, as the Notes and all other amounts payable hereunder or in connection herewithcase may be, the Company Deferred Amount shall paybe: (A) as of the first Bond Distribution Date occurring after the first Interim Payment made or deemed made by the Segregated Account in respect of a Permitted Policy Claim relating to such Policy or Insured Obligation, or such earlier date as may be determined by no later than January 15the Management Services Provider in its sole discretion, 2004, additional interest to the Noteholders in accordance with their respective pro rata principal amount in an higher of (i) the amount equal to the aggregate Permitted Policy Claim Amount less the amount of any Payment and less any Recovery Amount, in each case established, paid or received with respect to such Policy or Insured Obligation since the immediately preceding Bond Distribution Date, and (ii) zero; and (B) as of each subsequent Bond Distribution Date, or such earlier date as may be determined by the Management Services Provider in its sole discretion, the higher of (i) each Series A Deferred Principal Amount multiplied by a rate per annum the amount equal to 2.00% per annum from Deferred Amount as of the date such Series A immediately preceding Bond Distribution Date, and (x) with respect to each Pre-Record Date Deferred Principal Amount, plus any Accretion Amounts accrued between the immediately preceding Bond Distribution Date and the Effective Date, and (y) with respect to all Deferred Amounts, plus any Permitted Policy Claim Amount, less the amount of any Payment, less any Recovery Amount, and less any and all amounts which reduce the Deferred Amount is created and determined hereunder until the date such Series A Deferred Principal Amount has been paid in full plus (ii) each Series A Deferred Principal Amount multiplied by a rate per annum equal to 1.00% per annum from the date such Series A Deferred Principal Amount has been paid in full (through voluntary prepayments pursuant to Section 8.2 hereof) Sections 2.14, 4.2 and 4.3 in each case in this subparagraph (B)(i), as established, paid or received with respect to (but not including) January 15such Policy or Insured Obligation since the immediately preceding Bond Distribution Date, 2004 (the amounts referred to in clauses (i) and (ii) hereof are collectively referred to as "Deferred Principal Amount Fees"). Each such voluntary prepayment shall be applied to the earliest occurring Series A Deferred Principal Amount and, after the same has been paid in full, thereafter to each immediately succeeding Series A Deferred Principal Amount until all Series A Deferred Principal Amounts have been paid in full. On January 15, 2004, the Company shall pay all Series A Deferred Principal Amounts. As used in this Section 8.7(a), "Deferred Principal Amount" means, with respect to each monthly repayment of the Amortization Debt occurring on or after the Second Amendment Effective Date but prior to January 1, 2004, the excess, if any, of (x) $4,958,333 minus (y) the actual amount of such repayment; it being understood and agreed that each occurrence of such an excess will create a new and independent Deferred Principal Amount. As used in this Section 8.7(a), "Series A Deferred Principal Amount" means the Series A Note Principal Allocation times each Deferred Principal Amount. The Company agrees that in connection with any payment of fees payable to the Specified Holders similar to the Deferred Principal Amount Fees, the Company shall pay to the Noteholders a pro rata amount of such paymentzero.

Deferred Amounts. (ai) In addition to the rate of interest otherwise payable with respect to the Notes and all other amounts payable hereunder or in connection herewith, the Company shall pay, by no later than January 15, 2004, additional interest to the Noteholders in accordance with their respective pro rata principal amount in an amount equal to the aggregate of (ia) each Series A I Deferred Principal Amount multiplied by a rate per annum equal to 2.00% per annum from the date such Series A I Deferred Principal Amount is created and determined hereunder until the date such Series A I Deferred Principal Amount has been paid in full plus (iib) each Series A I Deferred Principal Amount multiplied by a rate per annum equal to 1.00% per annum from the date such Series A I Deferred Principal Amount has been paid in full (through voluntary prepayments pursuant to Section 8.2 paragraph 4C hereof) to (but not including) January 15, 2004 (the amounts referred to in clauses (ia) and (iib) hereof are collectively referred to as "Deferred Principal Amount Fees"). Each such voluntary prepayment shall be applied to the earliest occurring Series A I Deferred Principal Amount and, after the same has been paid in full, thereafter to each immediately succeeding Series A I Deferred Principal Amount until all Series A I Deferred Principal Amounts have been paid in full. On January 15, 2004, the Company shall pay all Series A I Deferred Principal Amounts. As used in this Section 8.7(aparagraph 4G(i), "Deferred Principal Amount" means, with respect to each monthly repayment of the Amortization Debt occurring on or after the Second Amendment Effective Date but prior to January 1, 2004, the excess, if any, of (x) $4,958,333 minus (y) the actual amount of such repayment; it being understood and agreed that each occurrence of such an excess will create a new and independent Deferred Principal Amount. As used in this Section 8.7(aparagraph 4G(i), "Series A I Deferred Principal Amount" means the Series A I Note Principal Allocation times each Deferred Principal Amount. The Company agrees that in connection with any payment of fees payable to the Specified Holders similar to the Deferred Principal Amount Fees, the Company shall pay to the Noteholders a pro rata amount of such payment.

Deferred Amounts. (a) In addition On the Commencement Date, and in connection with the transactions contemplated by this Agreement, DKTS shall cause to be issued to Citi a Letter of Credit in an initial face amount of USD 70,000,000 (such Letter of Credit, the “Initial Deferral LC” and such amount, the “Initial Deferred Amount”), and Citi shall advance to DKTS the Initial Deferred Amount for the purpose of facilitating the payment by DKTS of amounts owing or that may become owing, or which are or may be required to be posted as Posted Collateral, under Articles 8, 9, 11, and 12. (b) On the Amendment Effective Date, the aggregate Deferred Amount available under this Agreement will be increased by USD 180,000,000 (the “Additional Deferred Amount”). Any Deferred Amounts in excess of USD 70,000,000 shall remain unpaid for at least 30 consecutive days or until the next Monthly True-Up Payment Date. (c) On the Amendment Effective Date, and in connection with the transactions contemplated by this Agreement, DKTS shall cause to be issued to Citi an additional Letter of Credit in an initial face amount equivalent to the rate aggregate Subsequent Deferred Amount as of interest otherwise payable with respect to the Notes and all other amounts payable hereunder or in connection herewithAmendment Effective Date (such Letter of Credit, the Company “Amendment Deferral LC” and such amount, the “Amendment Deferred Amount”), and Citi shall payadvance to DKTS the Amendment Deferred Amount for the purpose of facilitating the payment by DKTS of amounts owing or that may become owing, or which are or may be required to be posted as Posted Collateral, under Articles 8, 9, 11, and 12. (d) Upon prior written notice to Citi (such prior written notice to be given at least ten (10) Business Days before each Monthly True-Up Payment Date), DKTS shall have the right to defer payment of all or a portion of any outstanding Deferred Amount after the Amendment Effective Date until or, in the event the outstanding Deferred Amount is less than the sum of the Initial Deferred Amount and the Additional Deferred Amount, request that Citi advance funds for the purpose of facilitating the payment by no later than January 15DKTS of amounts owing or that may become owing, 2004or which are or may be required to be posted as Posted Collateral, additional interest under Articles 8, 9, 11, and 12 (the date of such deferral or request for an advance, the “Deferral Date”) on, the Monthly True-Up Payment Date occurring during the next following month (the amount of each such deferred payment or advance pursuant to this Section 11.3(d), a “Subsequent Deferred Amount” and together with the Noteholders in accordance with their respective pro rata principal amount Initial Deferred Amount and the Amendment Deferred Amount, each a “Deferred Amount”), in an amount equal to not greater than the aggregate lesser of (i) each Series A Deferred Principal Amount multiplied by a rate per annum equal to 2.00% per annum from the date such Series A Deferred Principal Amount is created and determined hereunder until the date such Series A Deferred Principal Amount has been paid in full plus (ii) each Series A Deferred Principal Amount multiplied by a rate per annum equal to 1.00% per annum from the date such Series A Deferred Principal Amount has been paid in full (through voluntary prepayments pursuant to Section 8.2 hereof) to (but not including) January 15, 2004 (the amounts referred to in clauses (i) USD 250,000,000 and (ii) hereof are collectively referred to the amount by which (A) the undrawn amount of all Deferral LCs exceeds (B) the outstanding Deferred Amount, in each case, as "of the Deferral Date. (e) The repayment and/or advance of any Deferred Principal Amount Fees"). Each such voluntary prepayment shall be applied incorporated as a component of the Monthly True-Up Amount as the Net Deferred Amount Payment. If the Net Deferred Amount Payment is a positive number, such payment shall represent an amount due from DKTS to Citi and if the Net Deferred Amount Payment is a negative number, such payment shall represent an amount due from Citi to DKTS and, in each case, shall be subtracted in the calculation of the Monthly True-Up Amount. Notwithstanding the foregoing, upon a written request by DKTS to Citi received on or before the 4:00 p.m. CPT on the date that is one (1) Business Day prior to the earliest occurring Series A last Business Day of the month for which a Monthly True-Up Amount is calculated, Citi shall consider whether to exclude the Net Deferred Principal Amount andPayment from the aggregate Monthly True-Up Amount as requested by DKTS and permit the repayment or advance of such Net Deferred Amount Payment to be made separately from the Monthly True-Up Amount; provided, after however, that nothing in the same has been paid foregoing shall obligate Citi to accommodate such a request, and Citi shall make such determination in fullits sole and absolute discretion. Citi shall notify DKTS in writing on the date that is one (1) Business Day prior to last Business Day of the relevant month whether it will permit the repayment or advance of the Net Deferred Amount Payment separate and apart from the repayment and/or advance of the Monthly True-Up Amount; provided that if Citi fails to provide a response to the request made by DKTS, thereafter Citi will be deemed to each immediately succeeding Series A have declined such request and the repayment and/or advance of any Deferred Principal Amount until all Series A shall be incorporated as a component of the Monthly True-Up Amount as the Net Deferred Principal Amounts have been paid Amount Payment in full. On January 15, 2004, accordance with the Company shall pay all Series A Deferred Principal Amounts. As used in terms of this Section 8.7(a11.3(e). (f) For the purposes hereof, "“Net Deferred Principal Amount" Amount Payment” means, with respect to each monthly repayment of the Amortization Debt occurring on or after the Second Amendment Effective Date but prior to January 1, 2004, the excess, if any, of (x) $4,958,333 minus (y) the actual amount of such repayment; it being understood and agreed that each occurrence of such an excess will create a new and independent Deferred Principal Amount. As used in this Section 8.7(a), "Series A Deferred Principal Amount" means the Series A Note Principal Allocation times each Deferred Principal Amount. The Company agrees that in connection with any payment of fees payable to the Specified Holders similar to the Deferred Principal Amount Fees, the Company shall pay to the Noteholders a pro rata amount of such payment.: