Common use of Payment Stream Clause in Contracts

Payment Stream. The Counterparty under the Interest Rate Cap Agreement (First Mezzanine) shall be obligated to make a stream of payments, directly to the Mezzanine Account (whether or not an Event of Default has occurred) from time to time equal to the product of (i) the notional amount of such Interest Rate Cap Agreement (First Mezzanine) multiplied by (ii) the excess, if any, of LIBOR (including any upward rounding under the definition of LIBOR) over the Strike Price;

Payment Stream. The Counterparty under the Interest Rate Cap Agreement (First Third Mezzanine) shall be obligated to make a stream of payments, directly to the Mezzanine Account (whether or not an Event of Default has occurred) from time to time equal to the product of (i) the notional amount of such Interest Rate Cap Agreement (First Third Mezzanine) multiplied by (ii) the excess, if any, of LIBOR (including any upward rounding under the definition of LIBOR) over the Strike Price;

Payment Stream. The Counterparty under the Interest Rate Cap Agreement (First Second Mezzanine) shall be obligated to make a stream of payments, directly to the Mezzanine Account (whether or not an Event of Default has occurred) from time to time equal to the product of (i) the notional amount of such Interest Rate Cap Agreement (First Second Mezzanine) multiplied by (ii) the excess, if any, of LIBOR (including any upward rounding under the definition of LIBOR) over the Strike Price;

Payment Stream. The Counterparty under the Interest Rate Cap Agreement (First Fourth Mezzanine) shall be obligated to make a stream of payments, directly to the Mezzanine Account (whether or not an Event of Default has occurred) from time to time equal to the product of (i) the notional amount of such Interest Rate Cap Agreement (First Fourth Mezzanine) multiplied by (ii) the excess, if any, of LIBOR (including any upward rounding under the definition of LIBOR) over the Strike Price;