Payment of Shortfall Amounts Sample Clauses

Payment of Shortfall Amounts. The Guarantor shall pay all Shortfall Amounts to or at the direction of the Agent in immediately available funds no later than one Business Day of notice from the Agent.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Payment of Shortfall Amounts. The Guarantor shall pay all Shortfall Amounts to or at the direction of the Beneficiary in immediately available funds no later than one (1) Business Day after notice from the Beneficiary.
Sample 1
Payment of Shortfall Amounts. The Guarantor shall pay all Shortfall Amounts to or at the direction of the Lender in immediately available funds no later than one Business Day of notice from the Lender.
Sample 1
Payment of Shortfall Amounts. In the event of receipt of notification under (c) above, Purchaser shall ensure that amounts are paid into the Financial Escrow Account so that the Financial Escrow Agent has sufficient funds to make such payments.
Sample 1
Payment of Shortfall Amounts. Subject to the other provisions of this Clause 4 (SHORTFALL INSTRUCTIONS AND PAYMENT), the Guarantor shall unconditionally and forthwith pay to the account specified in Clause 8.1 (Place of Payment), no later than [•] Business Day before the relevant Payment Date immediately following the date of delivery of such Shortfall Instruction, the amount ("Shortfall Amount Paid") which is the lesser of the (i) Shortfall Amount as specified in the Shortfall Instruction, (ii) the IIFCL Available Residual Guarantee Amount on the start of the Guarantee Fee Calculation Period immediately prior to the date of delivery of such Shortfall Instruction, and (iii) the IIFCL Maximum Guaranteed Amount on the day immediately prior to the date of payment. Provided however, the Guarantor shall be required to make payments pursuant to any Shortfall Instruction made under Clause 4.1.4, no later than [•] Business Days following the date of delivery of such Shortfall Instruction under Clause 4.1.4.
Sample 1

Related to Payment of Shortfall Amounts

  • Payment of Repurchase Prices and Substitution Shortfall Amounts The Issuer hereby directs and the Depositor hereby agrees to remit or cause to be remitted all amounts in respect of Repurchase Prices and Substitution Shortfall Amounts payable during the related Due Period in immediately available funds to the Indenture Trustee to be deposited in the Collection Account on the Business Day immediately preceding the related Payment Date for such Due Period in accordance with the provisions of the Indenture. In the event that more than one Timeshare Loan is replaced pursuant to Sections 6(a), (b) or (c) hereof on any Transfer Date, the Substitution Shortfall Amounts and the Loan Balances of Qualified Substitute Timeshare Loans shall be calculated on an aggregate basis for all substitutions made on such Transfer Date.

  • Principal Payment The Borrower shall fail to pay any principal of any Note when the same becomes due and payable as set forth in this Agreement;

  • Principal Payments Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the obligations of SPV hereunder.

  • Reduction of Servicing Compensation in Connection with Prepayment Interest Shortfalls In the event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall, the Servicer shall, from amounts in respect of the Servicing Fee for such Distribution Date, deposit into the Collection Account, as a reduction of the Servicing Fee for such Distribution Date, no later than the Servicer Remittance Date immediately preceding such Distribution Date, an amount up to the Prepayment Interest Shortfall; provided that the amount so deposited shall not exceed the Compensating Interest for such Distribution Date. In case of such deposit, the Servicer shall not be entitled to any recovery or reimbursement from the Depositor, the Trustee, the Issuing Entity or the Certificateholders. With respect to any Distribution Date, to the extent that the Prepayment Interest Shortfall exceeds Compensating Interest (such excess, a "Non-Supported Interest Shortfall"), such Non-Supported Interest Shortfall shall reduce the Current Interest with respect to each Class of Certificates, pro rata based upon the amount of interest each such Class would otherwise be entitled to receive on such Distribution Date. Notwithstanding the foregoing, there shall be no reduction of the Servicing Fee in connection with Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings and the Servicer shall not be obligated to pay Compensating Interest with respect to Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings.

  • Security shortfall If at any time the Security Value is less than the Minimum Value, the Agent may, and shall, if so directed by the Majority Lenders, by notice to the Borrowers require that such deficiency be remedied. The Borrowers shall then within 30 days of receipt of such notice ensure that the Security Value equals or exceeds the Minimum Value. For this purpose, the Borrowers may:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!