Extensions of Loans, and Collection and Transfer of Payments Sample Clauses

Extensions of Loans, and Collection and Transfer of Payments. (A) The Lender, as servicer of the Loan, shall be obligated to collect, as the Department's trustee with respect to the Department's pro rata share thereof, all payments of interest and principal due and payable on the Loan, together with any charges, fees, costs, expenses and any and all other amounts due on or in connection with the Loan Documents, including without limitation all Servicing Expenses incurred by Lender. If the Borrower requests a draw upon its Line of Credit and the Lender is obligated to extend funds to the Borrower pursuant to the terms and conditions of the Closing Documents, then the Lender may withdraw funds from the Participation Interest Account in an amount equal to the Department's pro rata amount of such amount. If the Lender receives, collects or applies a full interest payment with respect to a Revolving Line of Credit, the Lender will deposit into the Participation Interest Account an amount equal to the Department's pro rata share of such payment at a rate equal to the Department Rate. If the Lender receives, collects or applies only a partial interest payment with respect to a Revolving Line of Credit, the Lender will deposit into the Participation Interest Account an amount equal to the amount due the Department under the preceding sentence times a fraction, the numerator of which is the amount then received, collected or applied by the Lender from the Borrower and the denominator of which is the total amount then due by the Borrower to the Lender. If the Lender receives, collects or applies a principal payment or prepayment with respect to a Revolving Line of Credit that is not terminated, the Lender will deposit into the Participation Interest Account an amount equal to the Department's pro rata share of such amount. If the Lender receives, collects or applies a principal payment with respect to a terminated, terminating or matured Revolving Line of Credit, the Lender will deposit into the Participation Interest Account the Department's pro rata share of such amount.
Sample 1
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Related to Extensions of Loans, and Collection and Transfer of Payments

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Loan Payments (a) The Loan shall bear interest at a fixed rate per annum equal to the Note Rate. Interest shall be computed based on the daily rate produced assuming a three hundred sixty (360) day year, multiplied by the actual number of days elapsed. Except as otherwise set forth in this Agreement, interest shall be paid in arrears.

  • Repayment of Loans (a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.

  • Payments to MAC Notes If on the Maturity Date a Class of MAC Notes that is entitled to principal is outstanding, all principal amounts that are payable by Freddie Mac on Class M Notes that were exchanged for such MAC Notes will be allocated to and payable on such MAC Notes in accordance with the exchange proportions applicable to the related Combination. The Interest Only MAC Notes are not entitled to receive payments of principal.

  • Repayment of Advances If the identity of the Servicer shall change, the predecessor Servicer shall be entitled to receive reimbursement for outstanding and unreimbursed Simple Interest Advances made pursuant to Section 4.4 by the predecessor Servicer.

  • Order of Application of Partial Payments and Periodic Payments Except as otherwise described in this Section 2, if Lender applies a payment, such payment will be applied to each Periodic Payment in the order in which it became due, beginning with the oldest outstanding Periodic Payment, as follows: first to interest and then to principal due under the Note, and finally to Escrow Items. If all outstanding Periodic Payments then due are paid in full, any payment amounts remaining may be applied to late charges and to any amounts then due under this Security Instrument. If all sums then due under the Note and this Security Instrument are paid in full, any remaining payment amount may be applied, in Xxxxxx’s sole discretion, to a future Periodic Payment or to reduce the principal balance of the Note. If Lender receives a payment from Borrower in the amount of one or more Periodic Payments and the amount of any late charge due for a delinquent Periodic Payment, the payment may be applied to the delinquent payment and the late charge. When applying payments, Lender will apply such payments in accordance with Applicable Law.

  • Credit, Payment and Collection You will receive a single monthly bill for both your natural gas and the delivery of such natural gas from your utility distribution company. Payment is due by the date set forth on the invoice. Should you fail to pay the monthly bill or fail to meet any agreed upon payment arrangement, your service may be terminated in accordance with your local utility’s tariffs and your contract with XOOM may be automatically terminated, leading to XOOM seeking cost recovery fees as set out herein. You represent that you are financially able and willing to fulfill the terms and conditions of this Agreement and that you have not filed, are not in the process of filing or plan to begin any bankruptcy proceedings. If accepted as a customer, XOOM may report your payment experience. Bills not paid by their due date are subject to a late payment fee at the greater of the rate of 1.5%, or the maximum permitted by law, based on your total outstanding balance per month. XOOM will charge a $35 return check fee for all returned checks or the maximum allowed by law. XOOM may terminate your commodity service and may suspend services under procedures approved by law. In all events, you shall remain obligated to pay for all natural gas received by you and any interest, fees and penalties incurred by XOOM. You will also be responsible for all costs, including legal fees, associated with the collection of amounts owed to XOOM.

  • Payments and Transfers 1. Except under the circumstances envisaged in Article 9.2, a Party shall not apply restrictions on international transfers and payments for current transactions with another Party.

  • Payment and Transfer of Interest Buyer shall pay interest on cash held as Performance Assurance, at the Interest Rate and on the Interest Payment Date. Buyer will transfer to Seller all accrued Interest Amount on the unused cash Performance Assurance in the form of cash by wire transfer to the bank account specified under “Wire Transfer” in Appendix X (Notices).

  • Allocation of Loan Amounts The Loan shall be withdrawn in a single tranche. The allocation of the amounts of the Loan to this end is set out in the table below: Allocations Amount of the Loan Allocated (expressed in Dollars) Single Tranche $200,000,000 TOTAL AMOUNT $200,000,000 C. Payment of Front-end Fee. No withdrawal shall be made from the Loan Account until the Bank has received payment in full of the Front-end Fee.

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