Financial Warranty Fee Sample Clauses

Financial Warranty Fee. In consideration of the issuance by the Warranty Provider of the Financial Warranty, the Fund shall pay to the Warranty Provider a fee in an amount equal to (a) prior to the occurrence of a Permanent Defeasance Event, 0.80% per annum of the average daily Net Assets of the Fund during each calendar month in the Protected Period or (b) following the occurrence of a Permanent Defeasance Event, 0.40% per annum of the average daily Net Assets of the Fund during each calendar month in the Protected Period (collectively, the "Financial Warranty Fee"), in each case, payable monthly in arrears on the last Business Day of the following calendar month (each a "Fee Payment Date"); provided that, for the purposes of calculating the Financial Warranty Fee, the Net Assets shall be determined without taking into account any indemnification claim made by the Warranty Provider against the Fund pursuant to the terms of this Agreement. The Financial Warranty Fee payable on each Fee Payment Date will be calculated based on a 360 day year for the actual number of days elapsed. The obligation to pay the Financial Warranty Fee that has accrued hereunder shall survive termination of this Agreement to the extent not paid in full prior to such termination.
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Financial Warranty Fee. In consideration of the issuance by the Warranty Provider of the Financial Warranty, the Fund shall pay to the Warranty Provider a fee in an amount equal to (a) prior to the occurrence of a Permanent Defeasance Event, 0.475% per annum of the average daily Net Assets of the Fund during each calendar month in the Protected Period or (b) following the occurrence of a Permanent Defeasance Event, 0.35% per annum of the average daily Net Assets of the Fund during each calendar month in the Protected Period (collectively, the "Financial Warranty Fee"), in each case, payable monthly in arrears on the tenth Business Day of the following calendar month (each a "Fee Payment Date"). The Financial Warranty Fee payable on each Fee Payment Date will be calculated based on a 360 day year for the actual number of days elapsed. The obligation to pay the Financial Warranty Fee that has accrued hereunder shall survive termination of this Agreement to the extent not paid in full prior to such termination.
Sample 1
Financial Warranty Fee. In consideration of the issuance by the ----------------------- Warranty Provider of the Financial Warranty, the Fund shall pay to the Warranty Provider a fee in an amount equal to 0.60% per annum of the average daily Net Assets of the Fund during the Protected Period (the "Financial ---------- Warranty Fee"), provided that upon the occurrence of a Trigger Initiated ------------- Defeasance Event or Market Initiated Defeasance Event, the Financial Warranty Fee shall be reduced to 0.35% per annum of the average daily Net Assets of the Fund during the Protected Period, which in each case shall accrue daily and shall be payable monthly in arrears on the fifth Business Day of the following calendar month (each a "Fee Payment Date"). The Financial Warranty ---------------- Fee payable on each Fee Payment Date will be calculated based on a 365 day year for the actual number of days elapsed. The obligation to pay the Financial Warranty Fee that has accrued hereunder up to the Termination Date shall survive termination of this Agreement to the extent not paid in full prior to such termination.
Sample 1

Related to Financial Warranty Fee

  • Basis for Determining Interest Rate Inadequate or Unfair In the event that Agent or any Lender shall have determined that:

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

  • Solvent Financial Condition Each of Borrower and its Subsidiaries is now and, after giving effect to the Loans to be made hereunder, at all times will be, Solvent.

  • Collection Practices; Escrow Deposits; Interest Rate Adjustments The origination, servicing and collection practices used by the Seller and the Interim Servicer with respect to the Mortgage Loan have been in all respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in all respects legal and proper. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of, or under the control of, the Seller or the Interim Servicer and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments have been collected in full compliance with state and federal law and the provisions of the related Mortgage Note and Mortgage. An escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every item that remains unpaid and has been assessed but is not yet due and payable. No escrow deposits or Escrow Payments or other charges or payments due the Seller have been capitalized under the Mortgage or the Mortgage Note. All Mortgage Interest Rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage and Mortgage Note on the related Interest Rate Adjustment Date. If, pursuant to the terms of the Mortgage Note, another index was selected for determining the Mortgage Interest Rate, the same index was used with respect to each Mortgage Note which required a new index to be selected, and such selection did not conflict with the terms of the related Mortgage Note. The Seller or the Interim Servicer executed and delivered any and all notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Any interest required to be paid pursuant to state, federal and local law has been properly paid and credited;

  • Financial Condition; Financial Statements (a) On and as of the Restatement Effective Date, on a pro forma basis after giving effect to the Transaction and to all Indebtedness (including the Loans) incurred, and to be incurred, and Liens created, and to be created, by each Credit Party in connection therewith, with respect to each Borrower (on a stand-alone basis), and each Borrower and its Subsidiaries (on a consolidated basis) (x) the sum of the assets, at a fair valuation, of each Borrower (on a stand-alone basis) and each Borrower and its Subsidiaries (on a consolidated basis) will exceed its or their debts, (y) it has or they have not incurred nor intended to, nor believes or believe that it or they will, incur debts beyond its or their ability to pay such debts as such debts mature and (z) it or they will have sufficient capital with which to conduct its or their business. For purposes of this Section 7.10(a), “debt” means any liability on a claim, and “claim” means (i) right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (ii) right to an equitable remedy for breach of performance if such breach gives rise to a payment, whether or not such right to an equitable remedy is reduced to judgment, fixed, contingent, matured, unmatured, disputed, undisputed, secured or unsecured. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.

  • Financial Statements; Financial Condition; etc The Borrower shall have delivered to the Administrative Agent:

  • Interest Rates and Letter of Credit Fee RATES, PAYMENTS, AND CALCULATIONS.

  • Borrower’s Financial Condition BTC has delivered to BFA, the investment adviser to the Funds, each Borrower’s most recent statements required to be furnished to customers by Rule 17a-5(c) of the Securities and Exchange Commission under the Securities Exchange Act of 1934, or such other documents as may be required, as have been made available to BTC pursuant to the Securities Lending Agreements. BTC shall promptly deliver to any investment adviser for the Funds all statements and financial information subsequently delivered to BTC and required to be furnished to BTC under the Securities Lending Agreements.

  • Financial Printer The Company shall retain a financial printer, reasonably acceptable to the Representative, for the purpose of facilitating the Company’s XXXXX filings and the printing of the Preliminary Prospectus and Prospectus.

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