Common use of Preferred Equity Account Transfers Clause in Contracts

Preferred Equity Account Transfers. On each Repayment Date, the Managing Member shall determine in consultation with the Administrator the amount, if any, by which the amounts payable pursuant to clauses (1) through (3) of the Priority of Payments (the “Senior Amounts”) exceed the Available Amounts (such excess a “Senior Shortfall Amount”) and shall notify the Custodian of any Senior Shortfall Amount. On each Repayment Date, the Borrower shall apply, or cause to be applied, funds from the Preferred Equity Account in an amount equal to the Senior Shortfall Amount (or, if such Senior Shortfall Amount is greater than the amount in the Preferred Equity Account, all funds in the Preferred Equity Account) pursuant to the Priority of Payments. On each Repayment Date, the Borrower shall transfer to the Preferred Equity Account any amount payable under clause (4) of the Priority of Payments.

Preferred Equity Account Transfers. On each Repayment Determination Date, the Managing Member shall determine in consultation with the Administrator the amount, if any, by which the amounts payable pursuant to clauses (1) through (3) of the Priority of Payments (the “Senior Amounts”) exceed the Available Amounts (such excess a “Senior Shortfall Amount”) and shall notify the Custodian of any Senior Shortfall Amount. On each Repayment Date, the Borrower shall apply, or cause to be applied, funds from the Preferred Equity Account in an amount equal to the Senior Shortfall Amount (or, if such Senior Shortfall Amount is greater than the amount in the Preferred Equity Account, all funds in the Preferred Equity Account) pursuant to the Priority of Payments. On each Repayment Date, the Borrower shall transfer to the Preferred Equity Account any amount payable under clause (4) of the Priority of Payments.

Preferred Equity Account Transfers. On each Repayment Determination Date, the Managing Member shall determine in consultation with the Administrator the amount, if any, by which the amounts payable pursuant to clauses (1) through (3) of the Priority of Payments (the “Senior S enior Amounts”) exceed the Available Amounts (such excess a “Senior Shortfall Amount”) and shall notify the Custodian of any Senior Shortfall Amount. On each Repayment Date, the Borrower shall apply, or cause to be applied, funds from the Preferred Equity Account in an amount equal to the Senior Shortfall Amount (or, if such Senior Shortfall Amount is greater than the amount in the Preferred Equity Account, all funds in the Preferred Equity Account) pursuant to the Priority of Payments. On each Repayment Date, the Borrower shall transfer to the Preferred Equity Account any amount payable under clause (4) of the Priority of Payments.