Senior Obligation Payment Fund Sample Clauses

Senior Obligation Payment Fund. Each District shall, on each Interest Payment Date for any Senior Obligations of such District, transfer from its Senior Obligation Payment Fund to the Obligee of such Senior Obligations, the interest on or with respect to such Senior Obligations due and payable on such Interest Payment Date, as provided in the Obligation Instrument pursuant to which such Senior Obligations are incurred; provided, however, that the amount so transferred shall not exceed the amount of the Accrued Debt Service with respect to such Interest Payment Date constituting accrued interest on or with respect to such Senior Obligations that is required to have been deposited in such District’s Senior Obligation Payment Fund pursuant to paragraph (i) of Section 3.03(c). Each District shall, on each Principal Payment Date for any Senior Obligations of such District, transfer from its Senior Obligation Payment Fund to the Obligee of such Senior Obligations (a) if such Senior Obligations are comprised of separate payments of interest and principal, the principal of or with respect to such Senior Obligations due and payable on such Principal Payment Date, as provided in the Obligation Instrument pursuant to which such Senior Obligations are incurred, and (b) if such Senior Obligations are not comprised of separate payments of interest and principal, the loan payment, installment payment, lease payment, rental payment or similar payment payable by such District under or with respect to such Senior Obligations due and payable on such Principal Payment Date, as provided in the Obligation Instrument pursuant to which such Senior Obligations are incurred; provided, however, that the amount so transferred shall not exceed the amount of the Accrued Debt Service with respect to such Principal Payment Date constituting accrued principal of or with respect to such Senior Obligations that is required to have been deposited in such District’s Senior Obligation Payment Fund pursuant to paragraph (i) of Section 3.03(c). Each District shall, on each payment date with respect to Primary Reimbursement Obligations payable by such District to a Credit Support Provider providing a Credit Support Instrument for Senior Obligations of such District, transfer from its Senior Obligation Payment Fund to such Credit Support Provider, the amount of such Primary Reimbursement Obligation due and payable on such payment date, as provided in such Credit Support Instrument; provided, however, that the amount so transferr...
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Related to Senior Obligation Payment Fund

  • Employer Obligation The Supplier shall comply with the requirements of the Pensions Act 2008 and the Transfer of Employment (Pension Protection) Regulations 2005.

  • Member Obligations In addition to the above, Member promises the following:

  • Consideration Payment 5.1 In consideration of the Company’s Services, the Client shall pay to the Company the Consideration to be stipulated in the Termsheet and all reasonable out of pocket expenses (if any) in accordance with the commercial terms and payment terms as detailed in the Separate Agreement.

  • Employer Obligations The Employer will:

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account.

  • Operator Obligations 2.01 The Operator shall:

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

  • Non-Payment The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

  • E-PAYMENT Contractor agrees to accept all payments in United States currency via the State of Mississippi’s electronic payment and remittance vehicle. The agency agrees to make payment in accordance with Mississippi law on “Timely Payments for Purchases by Public Bodies,” which generally provides for payment of undisputed amounts by the agency within forty-five (45) days of receipt of invoice. Mississippi Code Annotated § 31-7-301 et seq.

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