Proceeds Shortfall Sample Clauses

Proceeds Shortfall. If Purchaser sells Eligible assets to any third party, or the Seller in accordance with the terms hereof, pursuant to a Required Sale Event as set forth in Section 4.03 hereof but in no other event, for an amount less than the applicable Adjusted Tranche Amount plus the applicable Net Securities Amount, then Seller shall pay to Purchaser any such shortfall (the "Proceeds Shortfall"). Until the Proceeds Shortfall is repaid, Purchaser, in addition to all other remedies hereunder and at law or equity, shall be entitled to deduct from the proceeds owed to Seller as a result of any subsequent sales of Eligible Assets (to Seller or to any third party), the amount, up to the Proceeds Shortfall, by which the proceeds of any such subsequent sale exceeds the Adjusted Tranche Amount plus the Net Securities Amount in each case applicable to such subsequent sale."
Sample 1
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Proceeds Shortfall. If Manager determines that the contributions to the Reserve Account provided for in this Section 6.3 are insufficient to cover the Reserve Account Obligations as reflected in the Budget or the Reserve Study, or as otherwise approved by the Unit Owners Assembly, Manager shall provide written notice thereof to the Unit Owners Assembly, and the Unit Owners Assembly shall consider approval of a special assessment or other mechanism permitted in accordance with the Condominium Instruments or the Condominium Act to provide the additional required funds within sixty (60) days following written notice from Manager.
Sample 1

Related to Proceeds Shortfall

  • 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:

  • Excess Liquidation Proceeds 35 FDIC..........................................................................................35 FHA...........................................................................................35

  • 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;

  • Excess Cash Flow No later than ten (10) Business Days after the date on which the financial statements with respect to each fiscal year of Holdings ending on or after December 31, 2019 in which an Excess Cash Flow Period occurs are required to be delivered pursuant to Section 5.01(a) (each such date, an “ECF Payment Date”), the Borrower shall, if and to the extent Excess Cash Flow for such Excess Cash Flow Period exceeds $1,375,000, make prepayments of Term Loans in accordance with Section 2.10(h) and (i) in an aggregate amount equal to (A) the Applicable ECF Percentage of Excess Cash Flow for the Excess Cash Flow Period then ended (for the avoidance of doubt, including the $1,375,000 floor referenced above) (B) minus $1,375,000 minus (C) at the option of the Borrower, the aggregate principal amount of (x) any Term Loans, Incremental Term Loans, Revolving Loans or Incremental Revolving Loans (or, in each case, any Credit Agreement Refinancing Indebtedness in respect thereof), in each case prepaid pursuant to Section 2.10(a), Section 2.16(b)(B) or Section 10.02(e)(i) (or pursuant to the corresponding provisions of the documentation governing any such Credit Agreement Refinancing Indebtedness) (in the case of any prepayment of Revolving Loans and/or Incremental Revolving Loans, solely to the extent accompanied by a corresponding permanent reduction in the Revolving Commitment), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date) and (y) the amount of any reduction in the outstanding amount of any Term Loans or Incremental Term Loans resulting from any assignment made in accordance with Section 10.04(b)(vii) of this Agreement (or the corresponding provisions of any Credit Agreement Refinancing Indebtedness issued in exchange therefor), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date), and in the case of all such prepayments or buybacks, to the extent that (1) such prepayments or buybacks were financed with sources other than the proceeds of long-term Indebtedness (other than revolving Indebtedness to the extent intended to be repaid from operating cash flow) of Holdings or its Restricted Subsidiaries and (2) such prepayment or buybacks did not reduce the amount required to be prepaid pursuant to this Section 2.10(f) in any prior Excess Cash Flow Period (such payment, the “ECF Payment Amount”).

  • Shortfalls (i) If the amounts described in Section 2.3 are insufficient to pay the Class A Monthly Interest on any Distribution Date, payments of interest to the Class A Noteholders will be reduced on a pro rata basis by the amount of such deficiency. The aggregate amount, if any, of such deficiency on any Distribution Date, together with the aggregate unpaid amount of any such deficiencies with respect to all prior Distribution Dates, shall be referred to as the “

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