Settlement Date Procedures - Reinvestment Period Sample Clauses

Settlement Date Procedures - Reinvestment Period. On each Settlement Date prior to the Termination Date, Servicer shall distribute from Collections set aside or applied (to the extent applied in violation of the proviso to Section 1.3(a)(iii)) pursuant to Sections 1.3(a)(i) through (iii) during the immediately preceding Settlement Period the following amounts in the following order: (1) to the Administrator, for the account of the Purchasers in accordance with their respective Pro Rata Shares, an amount equal to the Yield accrued and unpaid during such Settlement Period, plus any previously accrued Yield not paid on a prior Settlement Date or pursuant to Section 3.1(e), which amount shall be distributed by the Administrator to the Purchasers for application to such Yield; (2) to the Administrator, an amount equal to the Fees accrued during such Settlement Period, plus any previously accrued amounts described in this clause (2) not paid on a prior Settlement Date or pursuant to Section 3.1(e), which amount shall be distributed by the Administrator to all Persons to whom payable; (3) to the Servicer, an amount equal to the Purchasers' Share of the Servicer's Fee accrued during such Settlement Period, plus any previously accrued Purchasers' Share of the Servicer's Fee not paid on a prior Settlement Date or pursuant to Section 3.1(e); (4) to the Administrator, all other amounts (other than Capital) then due under this Agreement or the other Transaction Documents to the Administrator, the Purchasers, the Affected Parties or the Indemnified Parties; and (5) to the Administrator, for the account of the Purchasers in accordance with their respective Pro Rata Shares, an amount equal to the Excess Amount as of the Reporting Date, if any, which amount shall be distributed by the Administrator to the Purchasers for application to their respective Pro Rata Shares of the Capital. On or as of any Purchase Date hereunder, the full amount of any such payments and/or distributions required to be made on the next succeeding Settlement Date (as computed by the Administrator in its reasonable judgment), shall, for purposes of any computations required pursuant to Section 5.2(b) for determining Seller's eligibility to effect any Purchase hereunder on such Purchase Date, be given pro forma effect and be included in any such computations as if made prior to the Purchase reflected in the applicable Purchase Notice.
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Related to Settlement Date Procedures - Reinvestment Period

  • Settlement Date Procedures In order to minimize the transfer of funds between the Lenders and the Administrative Agent, the Borrower may borrow, repay and reborrow Swing Loans and PNC may make Swing Loans as provided in Section 2.1.2 [Swing Loan Commitments] hereof during the period between Settlement Dates. The Administrative Agent shall notify each Lender of its Ratable Share of the total of the Revolving Credit Loans and the Swing Loans (each a “Required Share”). On such Settlement Date, each Lender shall pay to the Administrative Agent the amount equal to the difference between its Required Share and its Revolving Credit Loans, and the Administrative Agent shall pay to each Lender its Ratable Share of all payments made by the Borrower to the Administrative Agent with respect to the Revolving Credit Loans. The Administrative Agent shall also effect settlement in accordance with the foregoing sentence on the proposed Borrowing Dates for Revolving Credit Loans and may at its option effect settlement on any other Business Day. These settlement procedures are established solely as a matter of administrative convenience, and nothing contained in this Section 5.11 shall relieve the Lenders of their obligations to fund Revolving Credit Loans on dates other than a Settlement Date pursuant to Section 2.1.2 [Swing Loan Commitment]. The Administrative Agent may at any time at its option for any reason whatsoever require each Lender to pay immediately to the Administrative Agent such Lender’s Ratable Share of the outstanding Revolving Credit Loans and each Lender may at any time require the Administrative Agent to pay immediately to such Lender its Ratable Share of all payments made by the Borrower to the Administrative Agent with respect to the Revolving Credit Loans.

  • Settlement Period (a) For recording time worked, there shall be a settlement period of four weeks. (b) The settlement period shall commence at the beginning of a pay period.

  • Settlement Averaging Period For any Option and regardless of the Settlement Method applicable to such Option:

  • Settlement Account 4.1 The Scheduling Coordinator shall maintain at all times an account with a bank capable of Fed-Wire transfer to which credits or debits shall be made in accordance with the billing and Settlement provisions of Section 11 of the CAISO Tariff. Such account shall be the account as notified by the Scheduling Coordinator to the CAISO from time to time by giving at least 20 days written notice before the new account becomes operational, together with all information necessary for the CAISO's processing of a change in that account.

  • Actual Settlement Date Accounting With respect to any sale or purchase transaction that is not posted to the Account on the contractual settlement date as referred to in Section 2.5, Bank shall post the transaction on the date on which the cash or Financial Assets received as consideration for the transaction is actually received by Bank.

  • Contractual Settlement Date Accounting (a) Bank shall effect book entries on a "contractual settlement date accounting" basis as described below with respect to the settlement of trades in those markets where Bank generally offers contractual settlement day accounting and shall notify Customer of these markets from time to time.

  • Settlement Amount If the Non-Defaulting Party has declared an Early Termination Date pursuant to Section 7.2(b), the Non-Defaulting Party shall have the right to (i) accelerate all amounts owing between the Defaulting Party and the Non-Defaulting Party and to liquidate and terminate the undertakings set forth in this Agreement as between the Defaulting Party and the Non-Defaulting Party; and (ii) withhold any payments due to the Defaulting Party under this Agreement pending payment of the Termination Payment. The Non-Defaulting Party will calculate, in a commercially reasonable manner, the Settlement Amount with respect to the Defaulting Party’s obligations under the Agreement and shall net the Settlement Amount in the manner provided for in Section 7.3(c).

  • Interest Determination Dates The interest rate applicable to a Floating Rate Note for an Interest Reset Period commencing on the related Interest Reset Date will be determined by reference to the applicable Interest Rate Basis as of the particular “Interest Determination Date”, which will be: (1) with respect to the Federal Funds Open Rate—the related Interest Reset Date; (2) with respect to the Commercial Paper Rate, the Federal Funds Rate and the Prime Rate—the Business Day immediately preceding the related Interest Reset Date; (3) with respect to the CD Rate and the CMT Rate—the second Business Day preceding the related Interest Reset Date; (4) with respect to the Constant Maturity Swap Rate—the second U.S. Government Securities business day preceding the related Interest Reset Date, provided, however, that if after attempting to determine the Constant Maturity Swap Rate, such rate is not determinable for a particular Interest Determination Date, then such Interest Determination Date shall be the first U.S. Government Securities business day preceding the original interest determination date for which the Constant Maturity Swap Rate can be determined; (5) with respect to LIBOR—the second London Banking Day (as defined below) preceding the related Interest Reset Date; and (6) with respect to the Treasury Rate—the day of the week in which the related Interest Reset Date falls on which day Treasury Bills (as defined below) are normally auctioned (i.e., Treasury Bills are normally sold at auction on Monday of each week, unless that day is a legal holiday, in which case the auction is normally held on the following Tuesday, except that the auction may be held on the preceding Friday); provided, however, that if an auction is held on the Friday of the week preceding the related Interest Reset Date, the Interest Determination Date will be the preceding Friday. The Interest Determination Date pertaining to a Floating Rate Note, the interest rate of which is determined with reference to two or more Interest Rate Bases, will be the latest Business Day which is at least two Business Days before the related Interest Reset Date for the applicable Floating Rate Note on which each Interest Reset Basis is determinable. “London Banking Day” means a day on which commercial banks are open for business (including dealings in the LIBOR Currency) in London.

  • Puts Prior to the Settlement Date During the period from the Bank Closing Date to and including the Business Day immediately preceding the Settlement Date, the Assuming Bank shall be entitled to require the Receiver to purchase any Asset which the Assuming Bank can establish is evidenced by forged or stolen instruments as of the Bank Closing Date; provided, that, the Assuming Bank shall not have the right to require the Receiver to purchase any such Asset with respect to which the Assuming Bank has taken any action referred to in Section 3.4(a)(ii) with respect to such Asset. The Assuming Bank shall transfer all such Assets to the Receiver without recourse, and shall indemnify the Receiver against any and all claims of any Person claiming by, through or under the Assuming Bank with respect to any such Asset, as provided in Section 12.4.

  • Income Collection, Transaction Processing, Account Administration of a basis point per annum on the average net assets of the Fund.

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