Scheduled Payments; Due Date; Repayment Rate Adjustment Sample Clauses

Scheduled Payments; Due Date; Repayment Rate Adjustment. (a) We will apply an amount equal to the Repayment Rate of the Settlement Amounts we receive in the Transfer Account pursuant to Section 7.1(c) of this Agreement (collectively, "Loan Remittances") to the amounts you owe us. We will maintain, in accordance with our customary procedures, a loan account in your name in which we will record the date and amount of each Loan and the date and amount of each payment in respect of the Loans (including all Loan Remittances); provided, however, our failure to record the date and amount of any Loan shall not adversely affect us. Each month, we shall make available to you a statement showing the accounting for the Loans made, and the payments made or credited in respect thereof. The monthly statements shall be deemed correct and binding upon you in the absence of manifest error and shall constitute an account stated between us and you unless we receive a written statement of your specific exceptions thereto within thirty (30) days after such statement is received by you. Our records with respect to the loan account shall be conclusive evidence absent manifest error of the amounts of Loans and other charges thereto and of payments applicable thereto.
Sample 1Sample 2
AutoNDA by SimpleDocs
Scheduled Payments; Due Date; Repayment Rate Adjustment. (a) We will apply the amounts received from AETRS pursuant to Section 7.1 of this Agreement (“Loan Remittances”) to the amounts you owe us. We will maintain, in accordance with our customary procedures, a loan account in your name in which we will record the date and amount of the Loan and the date and amount of each payment in respect of the Loan (including all Loan Remittances); provided, however, our failure to record the date and amount of the Loan shall not adversely affect us. Each month, we shall make available to you a statement showing the accounting for the Loan made, and the payments made or credited in respect thereof. The monthly statements shall be deemed correct and binding upon you in the absence of manifest error and shall constitute an account stated between us and you unless we receive a signed statement of your specific exceptions thereto within thirty (30) days after such statement is received by you. Our records with respect to the loan account shall be conclusive evidence absent manifest error of the amount of the Loan and other charges thereto and of payments applicable thereto. (b) Unless accelerated pursuant to Section 9.2, the Loan, together with the Loan Fees as described in Section 7.3, is due and payable in accordance with the cumulative payment schedule (the “Payment Schedule”) that will be included in the Maturity Date Notice. The Payment Schedule contained in the Maturity Date Notice constitutes a part of and is incorporated into this Agreement. An estimated cumulative payment schedule is attached hereto as Schedule B. For the avoidance of doubt, the cumulative payment schedule set forth in Schedule B is only an estimate; you are obligated to repay the Loan, together with the Loan Fees, in accordance with the Payment Schedule that will be provided to you in the Maturity Date Notice. In any month that the minimum cumulative payment specified in the Payment Schedule (the “Minimum Payment”) for a given date is not met, the difference between the Minimum Payment and the actual Loan Remittances received as of such date will be deemed to be past due. In the event that any portion of the Outstanding Balance become past due, Lender may increase the Repayment Rate to 100% until no portion of the Outstanding Balance is past due. (c) Upon the Maturity Date, the Outstanding Balance shall be immediately due and payable in full. Such payment shall be made promptly by a payment method of which we will notify you. Thereafter, until the Out...
Sample 1

Related to Scheduled Payments; Due Date; Repayment Rate Adjustment

  • Scheduled Payments As of the Cutoff Date, each Receivable had a first scheduled due date on or prior to the end of the third month immediately following the Cutoff Date.

  • Scheduled Payment The scheduled monthly payment on a Mortgage Loan due on any Due Date allocable to principal and/or interest on such Mortgage Loan which, unless otherwise specified in the related Purchase and Servicing Agreement, Purchase Agreement or Servicing Agreement, as applicable, shall give effect to any related Debt Service Reduction and any Deficient Valuation that affects the amount of the monthly payment due on such Mortgage Loan.

  • Interest Rate Adjustment The interest rate payable on the Notes shall be subject to adjustments from time to time if either Xxxxx’x Investors Service, Inc., or any successor thereto (“Moody’s”) or Standard & Poor’s Ratings Services, a division of XxXxxx-Xxxx, Inc., or any successor thereto (“S&P”) downgrades (or subsequently upgrades) the debt rating assigned to the Notes, as set forth below. If the rating from Moody’s of the Notes is decreased to a rating set forth in the immediately following table, the interest rate on the Notes shall increase from the interest rate payable on the Notes on the date of their issuance (the “Original Interest Rate”) by the percentage set forth opposite that rating: Rating Percentage Ba1 0.25 % Ba2 0.50 % Ba3 0.75 % B1 or below 1.00 % If the rating from S&P of the Notes is decreased to a rating set forth in the immediately following table, the interest rate on the Notes shall increase from the Original Interest Rate by the percentage set forth opposite that rating: Rating Percentage BB+ 0.25 % BB 0.50 % BB- 0.75 % B+ or below 1.00 % Notwithstanding the foregoing, if at any time the interest rate on the Notes has been adjusted upward and either Moody’s or S&P, as the case may be, subsequently increases its rating of the Notes to any of the threshold ratings set forth in the tables above, the interest rate on the Notes shall be decreased such that the interest rate for the Notes equals the Original Interest Rate plus the percentages set forth opposite the ratings from the tables above in effect immediately following the increase. If Moody’s subsequently increases its rating of the Notes to Baa3 or higher and S&P increases its rating to BBB- or higher the interest rate on the Notes shall be decreased to the Original Interest Rate. Each adjustment required by any decrease or increase in a rating set forth above, whether occasioned by the action of Moody’s or S&P, shall be made independent of any and all other adjustments. In no event shall (1) the interest rate for the Notes be reduced to below the Original Interest Rate or (2) the total increase in the interest rate on the Notes exceed 2.00% above the Original Interest Rate. If either Moody’s or S&P ceases to provide a rating of the Notes, any subsequent increase or decrease in the interest rate of the Notes necessitated by a reduction or increase in the rating by the agency continuing to provide the rating shall be twice the percentage set forth in the applicable table above. No adjustments in the interest rate of the Notes shall be made solely as a result of either Moody’s or S&P ceasing to provide a rating. If both Moody’s and S&P cease to provide a rating of the Notes, the interest rate on the Notes shall increase to, or remain at, as the case may be, 2.00% above the Original Interest Rate. Any interest rate increase or decrease described above shall take effect from the first day of the interest period during which a rating change requires an adjustment in the interest rate. The interest rate on the Notes shall permanently cease to be subject to any adjustment described above (notwithstanding any subsequent decrease in the ratings by either or both rating agencies) and, if applicable, shall be decreased to the Original Interest Rate, if the Notes become rated Baa2 and BBB or higher by Moody’s and S&P, respectively (or one of these ratings if only rated by one rating agency), with a stable or positive outlook by each of the rating agencies.

  • Interest Rate Adjustments With respect to each ARM Mortgage Loan, all Mortgage Interest Rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage Note. Any interest required to be paid pursuant to state and local law has been properly paid and credited.

  • Scheduled Payments of Term Loans Borrower shall make principal payments on the Term Loans (other than the Other Term Loans) in installments on the dates and in the amounts set forth below: Date Scheduled Repayment of Term Loans June 30, 2013 $ 500,000.00 September 30, 2013 $ 1,375,000.00 December 31, 2013 $ 1,375,000.00 March 31, 2014 $ 1,375,000.00 June 30, 2014 $ 1,375,000.00 September 30, 2014 $ 2,062,500.00 December 31, 2014 $ 2,062,500.00 March 31, 2015 $ 2,062,500.00 June 30, 2015 $ 2,062,500.00 September 30, 2015 $ 2,062,500.00 December 31, 2015 $ 2,062,500.00 March 31, 2016 $ 2,062,500.00 June 30, 2016 $ 2,062,500.00 September 30, 2016 $ 2,750,000.00 December 31, 2016 $ 2,750,000.00 March 31, 2017 $ 2,750,000.00 June 30, 2017 $ 2,750,000.00 August 9, 2017 $ 72,250,000.00 ; provided that the scheduled installments of principal of the Term Loans set forth above shall be reduced in connection with any voluntary or mandatory prepayments of the Term Loans in accordance with subsection 2.4B(iv); and provided, further that (x) the Term Loans and all other amounts owed hereunder with respect to the Term Loans shall be paid in full no later than the applicable Term Loan Maturity Date, and the final installment payable by Borrower in respect of the Term Loans on such date shall be in an amount, if such amount is different from that specified above, sufficient to repay all amounts owing by Borrower under this Agreement with respect to the Term Loans and (y) to the extent specified in the applicable Extension Offer, amortization payments with respect to Extended Term Loans for periods prior to the then latest Term Loan Maturity Date for all existing Term Loans may be reduced (but not increased) and amortization payments required with respect to Extended Term Loans for periods after the then latest Term Loan Maturity Date for all existing Term Loans shall be as specified in the applicable Extension Offer.”

  • Final Repayment Date On the final Repayment Date, the Borrowers shall additionally pay to the Agent for the account of the Creditor Parties all other sums then accrued or owing under any Finance Document.

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate.

  • Interest Due Without limiting any other rights or remedies available to either Party, each Party shall pay the other interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [*] per annum or the maximum applicable legal rate, if less, calculated on the total number of days payment is delinquent.

Time is Money Join Law Insider Premium to draft better contracts faster.