Minimal Balances Sample Clauses

Minimal Balances. On any Payment Date on or after January 1, 1997, Seller may elect to repurchase all of the Loans then owned by the Buyer for their aggregate Principal Balance, if as of such Payment Date the aggregate Principal Balance of all such Loans is less than ten percent (10%) of the aggregate total of all of the Principal Balances of each of the Loans, as calculated, in each case, on the Initial Purchase Date or on the Incremental Purchase Date applicable to such Loan, as the case may be. If Seller elects to repurchase all of the Loans pursuant to this Section 7.02, Seller shall provide Buyer and Servicer with thirty (30) days prior written notice. The Repurchase Amount shall be paid by Seller to Servicer in immediately available funds prior to 12:00 noon, Washington, D.C. time. Immediately upon the payment of the required Repurchase Amount, all right, title and interest in the Loans being repurchased shall pass to Seller and such Loans shall cease to be "Loans" for all purposes of this Agreement. Any resale of a Loan and related Property pursuant to the terms of this Section 7.02 shall constitute the simultaneous resale by Buyer and repurchase by Seller of all Loans and related Property. Any resale of a Loan and related Property pursuant to this Section 7.02 shall be without recourse or warranty of any kind except that Buyer shall be deemed to have warranted that such Loans and related Property are free and clear of all liens or claims resulting from or arising out of its acts or omissions (other than acts of Buyer resulting from Seller's or Servicer's failure to perform as required by this Agreement) or claims of Buyer's creditors. [End of Article VII]
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Minimal Balances. 47 SECTION 7.04
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Minimal Balances. 52 SECTION 7.04 Optional Repurchase of Special Loans. . . . . . . . . . .53
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Minimal Balances. On any Payment Date, Seller may elect to repurchase all Loans for their aggregate Principal Balance, if as of such Payment Date, the aggregate Principal Balance is less than five percent (5%) of the Maximum Purchase Amount. If Seller elects to repurchase the Loans pursuant to this Section 8.03, Seller shall provide Buyer with thirty (30) days prior written notice. The Repurchase Amount shall be paid by Seller to Buyer in immediately available funds prior to 12:00 noon, Washington, D.C. time. Any resale of a Loan and related Property pursuant to this Section 8.03 shall be without recourse or warranty of any kind except that Buyer shall be deemed to have warranted that such Loans and related Property are free and clear of all liens or claims resulting from or arising out of its acts or omissions (other than acts of Buyer resulting from Seller's failure to perform as required by this Agreement) or claims of Buyer's creditors.
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Related to Minimal Balances

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.

  • Remaining Principal Balance At the Cutoff Date the Principal Balance of each Receivable set forth in the Schedule of Receivables is true and accurate in all material respects.

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,006,549.92.

  • Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $ 350,274,594.21.

  • Negative Balances If your Stripe Account balance (or the Stripe Account balance of any User Group Entity) is negative, or does not contain funds sufficient to pay amounts that you (or a User Group Entity) owe to Stripe, its Affiliates or Customers, then without limiting Stripe’s rights under Sections 4.2 and 4.3 of the General Terms, Stripe may debit the User Bank Accounts by the amount necessary to collect, and pay out to Customers if applicable, the amounts you owe.

  • Outstanding Principal Balance Each Receivable has an outstanding principal balance of at least $500.

  • Cash Balances Uninvested cash balances in my Account will be automatically swept into the Xxxxxx Xxxxx Money Market Fund according to my previous elections and authorizations relating to the treatment of cash balances. I understand and agree that the Xxxxxx Xxxxx Money Market Fund is offered by an Xxxxxx Xxxxx affiliate and, as a result, Xxxxxx Xxxxx has a financial incentive to select the Xxxxxx Xxxxx Money Market Fund as the available cash option, instead of a third-party cash product.

  • Net Receivables Balance Seller has determined that, immediately after giving effect to each purchase hereunder, the Net Receivables Balance is at least equal to the sum of (i) the Aggregate Capital, plus (ii) the Aggregate Reserves.

  • Credit Balances No interest or other amount will be paid by us on any credit balance on the Unallocated Account.

  • Minimum Balance Xxxxxxxx agrees to maintain a minimum balance of funds in the Settlement Account as Processor may specify to Merchant in writing from time to time.

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