Payments Received by Subordinated Lender Sample Clauses

Payments Received by Subordinated Lender. Except as provided in Section 2 hereof, if any payment, distribution or any collateral proceeds thereof is received by Subordinated Lender from Borrower with respect to the Subordinated Indebtedness prior to the satisfaction in full of all the Senior Indebtedness in cash, Subordinated Lender shall receive and hold the same in trust as trustee for the benefit of Senior Lender and shall forthwith deliver such assets to Senior Lender in precisely the form received (except for the endorsement or assignment by Subordinated Lender where necessary), for application on any of the Senior Indebtedness, due or not due. In the event of the failure of Subordinated Lender to make any such endorsement or assignment to Senior Lender, Senior Lender and any of its officers or agents are hereby irrevocably authorized to make such endorsement or assignment.
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Payments Received by Subordinated Lender. Except as provided in Section 6 of this Agreement, if any payment, distribution or any proceeds of Collateral is received by Subordinated Lender from Debtor with respect to the Subordinated Indebtedness prior to the final satisfaction in full of all the Senior Indebtedness in cash, such Subordinated Lender shall receive and hold such payment, distribution or proceeds in trust as trustee for the benefit of Senior Lender and shall forthwith deliver such assets to Senior Lender in precisely the form received (except for an endorsement or assignment by Subordinated Lender where necessary), for application to any of the Senior Indebtedness, whether due or not due. In the event of the failure of Subordinated Lender to make any such endorsement or assignment to Senior Lender, Senior Lender and any of its officers or agents are hereby irrevocably authorized to make such endorsement or assignment either in its own name or in the name of and on behalf of Subordinated Lender.
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Payments Received by Subordinated Lender. If any payment or ---------------------------------------- distribution or security (other than a distribution of common stock of Parent as provided in Section 2) or instrument or proceeds thereof is received by --------- Subordinated Lender upon or with respect to the Subordinated Debt in contravention of any of the terms of this Agreement and prior to the full and irrevocable payment in cash of the Obligations and termination of all financing arrangements between Debtor and Senior Lenders, Subordinated Lender shall receive and hold the same in trust, as trustee for the benefit of Senior Lenders and shall forthwith deliver the same to Agent, for the benefit of Senior Lenders, in precisely the form received (except for the endorsement or assignment of Subordinated Lender where necessary), for application on the Obligations, due or not due, and, until so delivered, the same shall be held in trust by Subordinated Lender as the property of Senior Lenders. In the event of the failure of Subordinated Lender to make any such endorsement or assignment to Agent or Senior Lenders, then Agent, Senior Lenders, or any of their officers or employees, is hereby irrevocably authorized to make the same.
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Payments Received by Subordinated Lender. If, notwithstanding the provisions of this Agreement, any payment or distribution of any character (whether in cash, securities, or other property) or any security will be received, directly or indirectly, by the Subordinated Lender in contravention of the terms of this Agreement (a “Prohibited Transfer”), and before all of the Senior Debt will have been paid in full in cash, such Prohibited Transfer will not be commingled with any asset of the Subordinated Lender, will be held IN TRUST for the benefit of the Lender and will immediately be paid over or delivered or transferred to the Lender, or its representative, for application to the payment of all of the Senior Debt remaining unpaid, until all of the Senior Debt will has been paid in full in cash.
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Payments Received by Subordinated Lender. Except for Permitted Payments and Permitted Junior Securities, should any payment or distribution be collected or received by the Subordinated Lender upon or with respect to the Subordinated Debt prior to the payment in full of all Senior Debt and the termination in writing of all commitments of the Senior Lender for the incurring of Senior Debt, the Subordinated Lender shall receive and hold the same in trust, as trustee, for the benefit of the Senior Lender, and shall forthwith deliver the same to the Senior Lender in precisely the same form received (except for the endorsement or assignment of the Subordinated Lender where necessary) for application to the Senior Debt, due or not due, and until so delivered, the same shall be held in trust by the Subordinated Lender as the property of the Senior Lender.
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Payments Received by Subordinated Lender. Except as permitted in Section 3.a hereof, if any payment, distribution, Collateral, or proceeds thereof is received by Subordinated Lender from any Obligor with respect to the Subordinated Indebtedness prior to the satisfaction
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Related to Payments Received by Subordinated Lender

  • Prepayments Payments Taxes 48 Section 5.1

  • Loan Payments (a) The Loan shall bear interest at a fixed rate per annum equal to the Note Rate. Interest shall be computed based on the daily rate produced assuming a three hundred sixty (360) day year, multiplied by the actual number of days elapsed. Except as otherwise set forth in this Agreement, interest shall be paid in arrears.

  • Mandatory Payments and Prepayments (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the aggregate outstanding principal of the Loans shall be due and payable in full on the Maturity Date.

  • Setoff Ratable Payments 37 11.1 Setoff..................................................................................................37 11.2

  • Repayments Prepayments Interest and Fees SECTION 3.1.

  • Repayment and Amortization of Loans; Evidence of Debt (a) The Borrowers hereby unconditionally promise to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date, (ii) to the Administrative Agent the then unpaid amount of each Protective Advance on the earlier of the Maturity Date and demand by the Administrative Agent, and (iii) to the Administrative Agent the then unpaid principal amount of each Overadvance on the earlier of the Maturity Date and demand by the Administrative Agent.

  • Repayments of Interest Advances or the Final Advance Subject to Sections 2.06, 2.07 and 2.09 hereof, the Borrower hereby agrees, without notice of an Advance or demand for repayment from the Liquidity Provider (which notice and demand are hereby waived by the Borrower), to pay, or to cause to be paid, to the Liquidity Provider on each date on which the Liquidity Provider shall make an Interest Advance or the Final Advance, an amount equal to (a) the amount of such Advance (any such Advance, until repaid, is referred to herein as an "UNPAID ADVANCE"), plus (b) interest on the amount of each such Unpaid Advance as provided in Section 3.07 hereof; PROVIDED that if (i) the Liquidity Provider shall make a Provider Advance at any time after making one or more Interest Advances which shall not have been repaid in accordance with this Section 2.05 or (ii) this Liquidity Facility shall become a Downgraded Facility or Non-Extended Facility at any time when unreimbursed Interest Advances have reduced the Maximum Available Commitment to zero, then such Interest Advances shall cease to constitute Unpaid Advances and shall be deemed to have been changed into an Applied Downgrade Advance or an Applied Non-Extension Advance, as the case may be, for all purposes of this Agreement (including, without limitation, for the purpose of determining when such Interest Advance is required to be repaid to the Liquidity Provider in accordance with Section 2.06 and for the purposes of Section 2.06(b)

  • Subordinated Disposition Fee If the Advisor or an Affiliate provides a substantial amount of the services (as determined by a majority of the Independent Directors) in connection with the Sale of one or more Properties, the Advisor or an Affiliate shall receive a Subordinated Disposition Fee equal to the lesser of (i) one-half of a Competitive Real Estate Commission or (ii) 3% of the sales price of such Property or Properties. The Subordinated Disposition Fee will be paid only if Stockholders have received total Distributions in an amount equal to the sum of their aggregate Invested Capital and their aggregate Stockholders' 8% Return. To the extent that Subordinated Disposition Fees are not paid by the Company on a current basis due to the foregoing limitation, the unpaid fees will be accrued and paid at such time as the subordination conditions have been satisfied. The Subordinated Disposition Fee may be paid in addition to real estate commissions paid to non-Affiliates, provided that the total real estate commissions paid to all Persons by the Company shall not exceed an amount equal to the lesser of (i) 6% of the Contract Sales Price of a Property or (ii) the Competitive Real Estate Commission. In the event this Agreement is terminated prior to such time as the Stockholders have received total Distributions in an amount equal to 100% of Invested Capital plus an amount sufficient to pay the Stockholders' 8% Return through the Termination Date, an appraisal of the Properties then owned by the Company shall be made and the Subordinated Disposition Fee on Properties previously sold will be deemed earned if the Appraised Value of the Properties then owned by the Company plus total Distributions received prior to the Termination Date equals 100% of Invested Capital plus an amount sufficient to pay the Stockholders' 8% Return through the Termination Date. Upon Listing, if the Advisor has accrued but not been paid such Subordinated Disposition Fee, then for purposes of determining whether the subordination conditions have been satisfied, Stockholders will be deemed to have received a Distribution in the amount equal to the product of the total number of Shares outstanding and the average closing price of the Shares over a period, beginning 180 days after Listing, of 30 days during which the Shares are traded.

  • Remittances; P&I Advances (a) On the Master Servicer Remittance Date immediately preceding each Distribution Date, the Master Servicer shall:

  • DISTRIBUTIONS AND ADVANCES BY THE SERVICER Section 4.01 Advances..................................................... Section 4.02

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