Mandatory Liquidity Test Sample Clauses

Mandatory Liquidity Test. Prior to the service of a Notice to Pay or a CBC Acceleration Notice and immediately preceding each anniversary of the Programme Date, the Asset Monitor shall, by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, report on the findings resulting from the agreed upon procedures on the calculations performed by the Issuer in relation to the liquidity test set out in Article 40(g) of the Wft Prudential Rules Decree (Besluit prudentiele regels Wft) (the "Mandatory Liquidity Test"). In this respect, the Asset Monitor shall be provided with the figures for the items listed in Clause 4.3 and shall perform the following procedures:
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Mandatory Liquidity Test. The Administrator shall timely notify the Asset Monitor of the timing of the determinations referred to in the Mandatory Liquidity Test.
Sample 1
Mandatory Liquidity Test. The Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, report on the findings resulting from the agreed upon procedures on the calculations performed by the CBC (or the Administrator on its behalf) in relation to the requirement for the Issuer under the CB Legislation to ensure that at all times sufficient liquidity is maintained or generated by the CBC to cover the maximum cumulative net liquidity outflow (including all payment outflows falling due on one day, including principal and interest payments and payments under derivative contracts forming part of the Programme, net of all payment inflows falling due on the same day for claims related to the cover assets) for the following 180 day-period, in each case as calculated and determined in accordance with the Decree (the "Mandatory Liquidity Test").
Sample 1
Mandatory Liquidity Test. Subject to the Asset Monitoring Appointment Agreement, the Mandatory Liquidity Test shall be carried out in relation to a Calculation Date immediately preceding each anniversary of the Programme Date, as applicable. The Administrator shall timely notify the Asset Monitor of the timing of the determinations referred to in the Mandatory Liquidity Test.
Sample 1
Mandatory Liquidity Test. Subject to the Asset Monitoring Appointment Agreement, prior to the service of a Notice to Pay or a CBC Acceleration Notice, the Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4 of the Asset Monitoring Appointment Agreement, once each calendar year report on the findings resulting from the agreed upon procedures in Clause 3.3 of the Asset Monitoring Appointment Agreement, on the calculations performed by the Issuer in relation to the liquidity test set out in Article 40g of the Wft Prudential Rules Decree (Besluit prudentiële regels Wft) (the ''Mandatory Liquidity Test'') in relation to a Calculation Date immediately preceding each anniversary of the Programme Date, as applicable. The Administrator shall timely notify the Asset Monitor of the timing of the determinations referred to in this Clause 7.
Sample 1
Mandatory Liquidity Test. Prior to the service of a Notice to Pay or a CBC Acceleration Notice and immediately preceding each anniversary of the Programme Date, the Asset Monitor shall, by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, perform agreed upon procedures with respect to the arithmetic accuracy of the calculations performed by the Issuer in relation to the liquidity test set out in Article 40(g) of the Wft Prudential Rules Decree (Besluit prudentiele regels Wft) (the "Mandatory Liquidity Test") with a view to confirm the accuracy (or otherwise of such calculations. The CBC (or the Administrator on its behalf) shall timely notify the Asset Monitor of the timing of the agreed upon procedures referred to in this sub-Clause 3.3. In this respect, the Asset Monitor shall be provided with the figures for the items listed in Clause 4.3 and shall perform a clerical accuracy check K + L + M ≥ N, with the first such agreed upon procedure to be performed in 2022. In this Clause 3.3:
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Related to Mandatory Liquidity Test

  • Available Funds-Contingency-Termination a. The State is prohibited by law from making commitments beyond the term of the current State Fiscal Year. Payment to Local Agency beyond the current State Fiscal Year is contingent on the appropriation and continuing availability of Agreement Funds in any subsequent year (as provided in the Colorado Special Provisions). If federal funds or funds from any other non-State funds constitute all or some of the Agreement Funds, the State’s obligation to pay Local Agency shall be contingent upon such non-State funding continuing to be made available for payment. Payments to be made pursuant to this Agreement shall be made only from Agreement Funds, and the State’s liability for such payments shall be limited to the amount remaining of such Agreement Funds. If State, federal or other funds are not appropriated, or otherwise become unavailable to fund this Agreement, the State may, upon written notice, terminate this Agreement, in whole or in part, without incurring further liability. The State shall, however, remain obligated to pay for Services and Goods that are delivered and accepted prior to the effective date of notice of termination, and this termination shall otherwise be treated as if this Agreement were terminated in the public interest as described in §2.C.

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Minimum Call-Back Time An employee who is called in and required to work outside their regular working hours shall be paid for a minimum of two (2) hours at overtime rates unless the call-in is immediately prior to their normal work day, in which case there should be no minimum.

  • Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • FUNDING CONTINGENCY If Congress makes any change in law that will affect the amount of funds authorized to be paid under this Agreement, the affected provisions in this Agreement will be automatically revised to reflect such change in funding. Under no circumstance may a payment be made under this Agreement that is in excess of the amount authorized by law at the time such amount may be owed.

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Mandatory Conditions (a) Should the Employee or the Union fail to comply with any time limit in the grievance procedure, the grievance will be considered to be abandoned, unless the Parties have mutually agreed in writing to extend the time limits.

  • Commitment Charge; Credit; Maturity Premium (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan Agreement.

  • Debt Service Coverage Ratio Borrower shall maintain as of the last day of any fiscal quarter a Debt Service Coverage Ratio of not less than 1.25 to 1.00 for the period of four consecutive fiscal quarters then ended on such day.

  • Funding Availability This Contract is at all times subject to state appropriations. The Department makes no express or implied representation or guarantee of continued or future funding under this Contract. The Department has, as of the date of the execution of this Contract, obtained all requisite approvals and authority to enter into and perform its obligations under this Contract, including, without limitation, the obligation to make the initial payment or payments required to be made under this Contract on the date or dates upon which such initial payment or payments may otherwise be disbursed during the current contract period, (i.e., Sept ember 1, 2015, through August 31, 2017). The Grantee acknowledges the Department’s authority to make such payments is contingent upon the Texas Legislature's appropriation to the Department of sufficient funds and the availability of funds to the Department for such purpose. If the State of Texas or the federal government terminates its appropriation through the Department or fails to pay the full amount of the allocation for the operation of any grant or reimbursement program hereunder , or the funds are otherwise unavailable, the Department may immediately and without penalty reduce payments or terminate this Contract, in whole or in part. Upon termination of the Contract or reduction of payments, the Grantee shall return to the Department any unexpended funds already disbursed to the Grantee. Neither the Department nor the State of Texas shall incur liability for damages or any loss that may be caused or associated with such termination or reduction of payments. The Department shall not be required to give prior notice for termination or reduction of payments.

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