Final Payment on the Notes Sample Clauses

Final Payment on the Notes. If on any Determination Date the Administrator determines that there are no outstanding Mortgage Loans and no other funds or assets in the Trust other than the funds in the Collection Account, the Administrator shall promptly send a final payment notice to each Securityholder. If the Residual Holder elects to terminate the Trust pursuant to clause (a)(i) of Section 9.1, at least 20 days prior to the date notice is to be mailed to the affected Securityholders, the Residual Holder shall notify the Depositor, the Indenture Trustee and the Administrator of the date the Residual Holder intends to terminate the Trust and of the applicable repurchase price of the Mortgage Loans and REO Properties. Notice of any termination of the Trust, specifying the Payment Date on which Securityholders may surrender their Securities for payment of the final payment and cancellation, shall be given promptly by the Administrator by letter to Securityholders and the Swap Counterparty, mailed not earlier than the 10th day and no later than the 15th day of the month next preceding the month of such final payment. Any such notice shall specify (a) the Payment Date upon which final payment on the Securities will be made upon presentation and surrender of Securities at the office therein designated, (b) the amount of such final payment, (c) the location of the office or agency at which such presentation and surrender must be made, and (d) that the Record Date otherwise applicable to such Payment Date is not applicable, payments being made only upon presentation and surrender of the Securities at the office therein specified. The Administrator will give such notice to each Rating Agency at the time such notice is given to Securityholders. In the event such notice is given, the Administrator shall reimburse the Master Servicer and the Servicer (or subservicer) for any amounts to be reimbursed to the Master Servicer or the Servicer (or subservicer) pursuant to this Agreement from funds in the Collection Account prior to remitting the balance of the funds in the Collection Account to the Note Payment Account. The Administrator shall cause all remaining funds in the Collection Account to be remitted to the Administrator for deposit in the Note Payment Account on the Business Day prior to the applicable Payment Date in an amount equal to the sum of the final payment in respect of the Securities and any Swap Termination Payment owed to the Swap Counterparty (to the extent not paid on previou...
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Related to Final Payment on the Notes

  • Payment on Notes The Company will pay all sums becoming due on each Note (including redemptions, whether for principal or interest) by check mailed to the holder of such Note at the registered address of such holder as set forth in the register kept by the Company at its principal office as provided in Section 8.1, without the presentation or surrender of such Note or the making of any notation thereon, except that any Note paid or prepaid in full shall be surrendered to the Company at its principal office for cancellation, provided that, in the case of any Note with respect to which any Purchaser or any subsequent Institutional Holder is the registered owner, and with respect to which any such subsequent Institutional Holder has given written notice to the Company requesting that the provisions of this Section 9 shall apply, the Company will punctually pay when due the principal thereof, interest thereon and premium, if any, due with respect to said principal, without any presentment thereof, directly to such Purchaser or to such subsequent Institutional Holder at such Purchaser's address set forth in Schedule I hereto or such other address as such Purchaser or such subsequent Institutional Holder may from time to time designate in writing to the Company or, if a bank account with a United States bank is designated for such Purchaser on Schedule I hereto or in any written notice to the Company from the Purchaser or from any such subsequent Institutional Holder, the Company will make such payments in immediately available funds to such bank account, marked for attention as indicated, or in such other manner or to such other account in any United States bank as such Purchaser or any such subsequent Institutional Holder may from time to time direct in writing. The Company will not be liable for failure to make payment on the Notes so long as the Company acts in accordance with any written instructions given by a Purchaser or any such Institutional Holder under Section 9. Prior to any sale or other disposition of any Note, the holder thereof will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon, or make such Note available to the Company at its principal office for the purpose of making such endorsement thereon.

  • Methods of Receiving Payments on the Notes If a Holder of Notes has given wire transfer instructions to the Company, the Company shall pay all principal, interest and premium and Liquidated Damages, if any, on that Holder's Notes in accordance with those instructions. All other payments on Notes shall be made at the office or agency of the Paying Agent and Registrar within the City and State of New York unless the Company elects to make interest payments by check mailed to the Holders at their addresses set forth in the register of Holders.

  • Payments on the Notes Payments on the Notes that are to be made from amounts withdrawn from the Bank Accounts will be made on behalf of the Issuer by the Indenture Trustee or a Note Paying Agent. No amounts withdrawn for payments on the Notes may be paid over to the Issuer, except as stated in this Section 3.3.

  • Repayment on Termination Date The Borrower hereby agrees to repay the outstanding principal amount of (i) all Revolving Credit Loans in full on the Revolving Credit Maturity Date, and (ii) all Swingline Loans in accordance with Section 2.2(b) (but, in any event, no later than the Revolving Credit Maturity Date), together, in each case, with all accrued but unpaid interest thereon.

  • Payment on Termination If Employee's employment is terminated by Employee with or without cause, or by Bank with or without cause, Employee shall be paid all base salary and benefits accrued under the Agreement as of the termination date.

  • Payment of the Notes Not later than 10:00 a.m. (New York City time) on each due date of the principal of, premium, if any, and interest on any Notes, the Company shall deposit with the Paying Agent money in immediately available funds sufficient to pay such principal, redemption payments, premium, if any, and interest so becoming due. All the payments must be in U.S. Dollars.

  • Interest on the Term Loan Subject to the provisions of Section 2.8, the Term Loan shall bear interest as follows:

  • Payment on Maturity Date Borrower shall pay to Lender on the Maturity Date the outstanding principal balance of the Loan, all accrued and unpaid interest and all other amounts due hereunder and under the Note, the Mortgage and the other Loan Documents.

  • Interest on the Loans A. RATE OF INTEREST. Subject to the provisions of subsections 2.6 and 2.7, each Term Loan and each Revolving Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or the Adjusted Eurodollar Rate. Subject to the provisions of subsection 2.7, each Swing Line Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest with respect to any Term Loan or any Revolving Loan shall be selected by Company initially at the time a Notice of Borrowing is given (or telephonic notice followed by a Notice of Borrowing) with respect to such Loan pursuant to subsection 2.1B, and the basis for determining the interest rate with respect to any Term Loan or any Revolving Loan may be changed from time to time pursuant to subsection 2.2D. If on any day a Term Loan or Revolving Loan is outstanding with respect to which notice has not been delivered to Administrative Agent in accordance with the terms of this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate.

  • Interest on the Loan Interest on the Loan shall accrue as set forth in the Note.

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