DEPOSIT OBLIGATION Sample Clauses

DEPOSIT OBLIGATION. Authorized representatives of the Company and the Service Provider shall confer five days before the end of each month to agree on an estimate of the necessary cash disbursements likely to occur during the subsequent month, and Company shall then deposit by the first business of the following month an amount equal to the estimated disbursements as determined above.
Sample 1
DEPOSIT OBLIGATION. On each Transfer Date, the Trustee, acting in accordance with instructions from the Servicer, shall withdraw from Collections of Finance Charge Receivables held in the Collection Account, to the extent available, an amount equal to the Monthly Finance Charge Allocation less any amounts withdrawn from the Collection Account allocation pursuant to subsections 4.6(a), (b), (c) and (d) up to the applicable Shortfall Share of the unpaid Deposit Obligation for the preceding Monthly Period, and the Trustee shall deposit such amount in the Excess Funding Account. Amounts deposited in the Excess Funding Account pursuant to this subsection (e) shall be applied first to reimburse the Class A Certificates for Class A Investor Charge-Offs, second to the extent amounts are available following the reimbursement of the Class A Certificates, to reimburse the Class B Certificates for Class B Investor Charge-Offs and third to the extent amounts are available following the reimbursement of the Class A Investor Charge-Offs and the Class B Investor Charge-Offs, to reimburse the Class C Certificates for Class C Investor Charge-Offs; provided that the aggregate of the foregoing reimbursements shall not exceed the lesser of (i) the Shortfall and (ii) the applicable Shortfall Share of the unpaid Deposit Obligation for the preceding Monthly Period.
Sample 1

Related to DEPOSIT OBLIGATION

  • Repayment Obligation In the event that any State and/or federal funds are deferred and/or disallowed as a result of any audits or expended in violation of the laws applicable to the expenditure of such funds, the Contractor shall be liable to the Agency for the full amount of any claim disallowed and for all related penalties incurred. The requirements of this paragraph shall apply to the Contractor as well as any subcontractors.

  • Obligation to Cash Collateralize At any time there shall exist a Defaulting Lender, within one Business Day following the written request of the Administrative Agent or the L/C Issuer (with a copy to the Administrative Agent), the Borrower shall Cash Collateralize the L/C Issuer’s Fronting Exposure with respect to such Defaulting Lender (determined after giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount.

  • Exit Obligations Upon (i) voluntary or involuntary termination of Employee’s employment or (ii) the Company’s request at any time during Employee’s employment, Employee shall (a) provide or return to the Company any and all Company property, including keys, key cards, access cards, identification cards, security devices, Company credit cards, network access devices, computers, cell phones, smartphones, equipment, manuals, reports, files, books, compilations, work product, e-mail messages, recordings, tapes, disks, thumb drives or other removable information storage devices, hard drives and data and all Company documents and materials belonging to the Company and stored in any fashion, including but not limited to those that constitute or contain any Confidential Information or Work Product, that are in the possession or control of Employee, whether they were provided to Employee by the Company or any of its business associates or created by Employee in connection with Employee’s employment by the Company; and (b) delete or destroy all copies of any such documents and materials following return to the Company that remain in Employee’s possession or control, including those stored on any non-Company devices, networks, storage locations and media in Employee’s possession or control.

  • Letter of Credit Obligations In the event any Letters of Credit are outstanding at the time that the Revolving Loan Commitment is terminated, Borrower shall deposit with Agent for the benefit of all Revolving Lenders cash in an amount equal to 105% of the aggregate outstanding Letter of Credit Obligations to be available to Agent to reimburse payments of drafts drawn under such Letters of Credit and pay any Fees and expenses related thereto.

  • Joint Obligation If there be more than one Tenant, the obligations hereunder imposed shall be joint and several.

  • ADDITIONAL PAYMENT OBLIGATIONS 15. Tax gross-up and indemnities

  • Unpaid Reimbursement Obligation Any Reimbursement Obligation for which the Borrower does not reimburse the Agent and the Banks on the date specified in, and in accordance with, Section 4.2.

  • Direct Obligation Neither Agent nor any other Secured Party shall be required to make any demand upon, or pursue or exhaust any right or remedy against, any Grantor, any other Credit Party or any other Person with respect to the payment of the Obligations or to pursue or exhaust any right or remedy with respect to any Collateral therefor or any direct or indirect guaranty thereof. All of the rights and remedies of Agent and any other Secured Party under any Loan Document shall be cumulative, may be exercised individually or concurrently and not exclusive of any other rights or remedies provided by any Requirement of Law. To the extent it may lawfully do so, each Grantor absolutely and irrevocably waives and relinquishes the benefit and advantage of, and covenants not to assert against Agent or any other Secured Party, any valuation, stay, appraisement, extension, redemption or similar laws and any and all rights or defenses it may have as a surety, now or hereafter existing, arising out of the exercise by them of any rights hereunder. If any notice of a proposed sale or other disposition of any Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition.

  • Assignment Obligation Each Party shall cause all Persons who perform activities for such Party under this Agreement to be under an obligation to assign their rights in any Inventions resulting therefrom to such Party.

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